Vietnam Business News

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• New tactic employed for tackling unsold apartments
• Rice storage program to begin after Tet
• Foreign investment up 5% on last January
• Inflation restraint and economic growth – dual objectives
• Real estate profitability downplayed by Ministry
• Trade pact would lead to mixed blessings
• Shares reverse gains to lose value
• Shrimp prices sky rocket in Mekong Delta
• Infamous Vinalines expects $101 mln loss in 2013
• 53,000-tonne cargo ship delivered to UK company

New tactic employed for tackling unsold apartments Posted: 30 Jan 2013 11:24 PM PST Property enterprises have varied the apartment-for-rent model aiming to slash their apartment inventory, with one of the solutions asking for no monthly rentals from tenants but a deposit. Nguyen Van Duc, deputy director of Dat Lanh Real Estate Co., said that the firm was sounding out the market's reactions after launching 22 apartments of the [...]

Rice storage program to begin after Tet Posted: 30 Jan 2013 11:23 PM PST A plan to purchase one million tons of rice for temporary storage will begin after the Lunar New Year holiday, said Truong Thanh Phong, chairman of the Vietnam Food Association (VFA). He said the Prime Minister had given the nod to the plan for buying one million tons of the winder-spring rice for stockpiling. The [...]

Foreign investment up 5% on last January Posted: 30 Jan 2013 11:21 PM PST Disbursements of foreign direct investment in the first month of the year rose by 5% over the same month last year to a total of 420 million USD, according to the Foreign Investment Agency (FIA). Newly registered capital also skyrocketed by 74% to 281.4 million USD. Thirty-seven new projects accounted for 257 million USD of [...]

Inflation restraint and economic growth – dual objectives Posted: 30 Jan 2013 11:21 PM PST The Government spokesman emphasized on the importance of lowering inflation while increasing growth during this month's regular Government press conference on January 29. As part of his answer to a press question on January's consumer price index (CPI), Minister, Chairman of the Office of Government, Vu Duc Dam said: "Inflation control and macroeconomic stability remain [...]

Real estate profitability downplayed by Ministry Posted: 30 Jan 2013 11:15 PM PST The Ministry of Construction has denied rumours that over three-quarters of all companies operating in the real estate and construction industries nationwide managed to post profits last year despite the well-publicised difficulties of the real estate market. Some local newspapers had quoted ministry statistics saying that 42,197 of these enterprises had reported profits in 2012, [...]

Trade pact would lead to mixed blessings Posted: 30 Jan 2013 11:14 PM PST Policy-makers and experts have publicly stated that joining the Trans-Pacific Partnership (TPP) Agreement will help accelerate the trade in Vietnamese exports, especially to the US market, for items including textiles, seafood, footwear and wooden products. The consensus was reached during a seminar on the Trans-Pacific partnership and the potential benefits and opportunities it offers businesses. [...]

Shares reverse gains to lose value Posted: 30 Jan 2013 11:11 PM PST Shares retreated this morning, halting the six-day rally. On the HCM City Stock Exchange, the VN-Index lost 0.9 per cent to 483.27 points. Most shares closed unchanged, while 71 stocks added value and the remaining 61 tumbled. Blue chips were heavily sold, with over two-thirds of the 30 leading shares declining. The VN30, tracking these [...]

Shrimp prices sky rocket in Mekong Delta Posted: 30 Jan 2013 11:11 PM PST According to the Vietnam Association of Seafood Exporters and Producers (Vasep), shrimp prices have sky rocketed in the Mekong Delta. At present, traders are paying VND240,000 a kilogram for 20 tiger prawns and VND160,000-170,000 a kilogram for 30, an increase of VND100,000 compared to a week ago. This is the highest price in the last [...]

Infamous Vinalines expects $101 mln loss in 2013 Posted: 30 Jan 2013 11:07 PM PST While it is now only the end of the very first month of 2013, loss-ridden shipping firm Vinalines has already posted a gloomy picture for the rest of the year, with its full-year loss expected to reach VND2.1 trillion, or US$100.96 million. Sharing the hardship of the ocean transport sector, Vinalines expects to suffer a [...]

53,000-tonne cargo ship delivered to UK company Posted: 30 Jan 2013 11:06 PM PST The Ha Long Shipbuilding Company on January 30 handed over a 53,000-tonne cargo ship to its United Kingdom's partner, MUHR Maritime Pte. The cargo ship, named Anne Kjersti, will make its maiden voyage to Singapore on January 31. The ship is the ninth in a series of ten 53,000 tonne-vessels that Ha Long Shipbuilding Company [...]

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