Vietnam Business News

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• Japan’s Aeon expands operation in Vietnam
• Shares increase slightly during morning trade
• PetroVietnam looks to enhance co-operation with global partners
• Industrial zones planned in Can Tho
• Vietnam becomes largest investor in Laos
• Viet Nam, San Marino ink tax deal
• Quang Ninh sees off first shipments
• IT firms shy away from PPP mechanism
• SBV rolls out gold market measures
• Building sector continues to suffer

Japan’s Aeon expands operation in Vietnam Posted: 18 Feb 2013 10:15 PM PST Aeon, the leading Japanese retail and financial services corporation, on February 15 announced its 1.5 billion USD investment plan to build 20 shopping malls across Vietnam by 2020 . Aeon's first shopping centre is expected to be opened to the public in Celadon urban area in Ho Chi Minh City in January 2014. The second [...]

Shares increase slightly during morning trade Posted: 18 Feb 2013 10:14 PM PST Shares fluctuated during this morning’s session but ended the session slightly higher. On the HCM City Stock Exchange, the VN-Index closed at 494.87 points, a 0.19 per cent increase. Gainers were higher than losers by only 24 codes. Trading value and volume increased compared to yesterday morning’s level, totalling VND985.5 billion (US$46.9 million) and nearly [...]

PetroVietnam looks to enhance co-operation with global partners Posted: 18 Feb 2013 08:30 PM PST PetroVietnam (PVN) will increase international co-operation in coming years and pay more attention to attracting foreign investment and exporting technical services, senior officials say. In doing so, the group is reinforcing a trend that it has set over the last few years, they add. On February 4, P.V.P, a joint venture between two PVN affiliates, [...]

Industrial zones planned in Can Tho Posted: 18 Feb 2013 08:29 PM PST The Cuu Long (Mekong) Delta city of Can Tho is planning to build three new industrial zones. The O Mon (600ha), O Mon Bac (400ha), and Thot Not (400ha) industrial zones will have a total area of 1,400 ha. In addition, the city is clearing land to expand the Hung Phu I and II industrial [...]

Vietnam becomes largest investor in Laos Posted: 18 Feb 2013 08:28 PM PST The Lao Ministry of Development and Planning has reported that Viet Nam has become the largest foreign investor in Laos in the 1989-2012 period. Since the Lao government adopted its foreign investment promotion policy in 1989, Vietnamese investors have funded 429 projects with a total value of US$4.9 billion. The second and third largest investors [...]

Viet Nam, San Marino ink tax deal Posted: 18 Feb 2013 08:27 PM PST Viet Nam and San Marino signed an agreement on double tax avoidance between the two governments in Rome, Italy, on February 14. With its clear tax regulations, the agreement aims to prevent tax evasion in areas such as income and assets tax, while helping boost bilateral economic co-operation, said Truong Chi Trung, Deputy Finance Minister [...]

Quang Ninh sees off first shipments Posted: 18 Feb 2013 08:27 PM PST Cai Lan Port in northern Quang Ninh province last week welcomed the first two Panamanian cargo ships, Taio Frontier and Forest Harmony. Following a traditional Vietnamese docking ceremony, the ships were loaded with 75,000 tonnes of wood chips destined for Japan and China. This year, Quang Ninh Port Company aims to load 7 million tonnes [...]

IT firms shy away from PPP mechanism Posted: 18 Feb 2013 08:26 PM PST Local tech firms are unsure about investing in private public projects (PPP) due to the lack of concrete guidance for their implementation in the ICT sector. Too many procedures and formalities are also proving an obstacle for enterprises. According to Nguyen Thanh Phuc, Head of the Information Technology Application Department under the Ministry of Information [...]

SBV rolls out gold market measures Posted: 18 Feb 2013 08:25 PM PST The State Bank of Viet Nam (SBV) has developed several measures to closely monitor and control the domestic gold-bullion market. Beginning after the Tet (Lunar New Year) holiday, credit institutions licensed to trade gold bullion will be required to determine whether their branches and transaction offices have had difficulties in trading gold bars. The credit [...]

Building sector continues to suffer Posted: 18 Feb 2013 08:24 PM PST The building-material sector, which includes cement and steel companies, is expected to remain sluggish this year, as the property market continues to be in a slump. Due to low demand, the cement industry last year saw lower sales, with 45.5 million tonnes, compared to 50.2 million tonnes in 2010 and 49.3 million tonnes in 2011. [...]

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