Vietnam Business News

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• Nation greets nearly 652,000 visitors
• Real estate bailout may not be helpful: state officials
• Price of rice falls, demand low in Mekong Delta
• Starbucks attracts long line of customers in Vietnam debut
• Beer manufacturers, importers upbeat for Tet
• Central bank calls for healthier banking system in 2013
• Ecosystem service scheme shows promise as parties share profits
• Mobile operators expect Tet text barrage
• Purchasing power sees slight gain in January
• VFA opposes US anti-subsidy investigation

Nation greets nearly 652,000 visitors Posted: 01 Feb 2013 07:13 PM PST An stimated 651,800 international visitors arrived in Viet Nam in the first month of the year, an increase of 2.2 per cent from last year. The number of tourists increased 6.4 per cent and the number visiting for business rose 0.9 per cent. However, those coming to visit relatives and for other purposes dropped by [...]

Real estate bailout may not be helpful: state officials Posted: 01 Feb 2013 07:03 PM PST A proposed real estate bailout plan may do more harm than good, as current market prices do not yet reflect the real prices, said a senior state official. "People who buy a house at current prices have to bear numerous costs, so if the bailout package doesn't go to the right address [the homebuyers], it [...]

Price of rice falls, demand low in Mekong Delta Posted: 01 Feb 2013 07:02 PM PST Farmers in the Mekong Delta have begun to harvest the winter-spring rice crop, even as price of rice falls further and demand continues to be equally low. Price of rice has dropped to an all time low in the last one year, with this affecting the winter-spring rice crop, which is the main crop of [...]

Starbucks attracts long line of customers in Vietnam debut Posted: 01 Feb 2013 07:00 PM PST The nearly 40 degrees Celsius hot weather seems fail to discourage some 200 people queuing in a front of a store at the Nga Sau crossroads in Ho Chi Minh City on Friday. They are waiting to become the very first customers to taste the well-known Starbucks coffee in Vietnam, with the country's first store [...]

Beer manufacturers, importers upbeat for Tet Posted: 01 Feb 2013 06:54 PM PST Local beer manufacturers, importers are expecting to supply the local market with some 600 million liters of beer for the coming Lunar New Year holiday. The supply for the weeklong Tet holiday is equal to one-fifth of the country's total beer output in 2012. It seems thedeclining purchasing power and lower Tet bonuses this yearwill [...]

Central bank calls for healthier banking system in 2013 Posted: 01 Feb 2013 06:53 PM PST The Governor of the State Bank of Vietnam (SBV) has issued a directive requiring all credit institutions and commercial banks to properly implement fiscal policies to ensure healthy operations of the banking system in 2013. According to the directive, the SBV aims to increase the M2 money supply by 14-16% in 2013 while the credit [...]

Ecosystem service scheme shows promise as parties share profits Posted: 01 Feb 2013 06:51 PM PST Vietnam earned 58 million USD from the collection of payments for eco system service (PES) schemes in 2012, the equivalent to the State budget allocation for the forestry sector. Vice Minister of Agriculture and Rural Development Ha Cong Tuan praised the news of the income. “This is an encouraging figure given that this scheme was [...]

Mobile operators expect Tet text barrage Posted: 01 Feb 2013 06:51 PM PST Major mobile network operators in Vietnam have warned mobile users to avoid eagling and texting on lunar news year' eve period to prevent network congestion. In addition to the warning, Viettel, Vinaphone and MobiFone have said they will also increase network capacity during the Tet holiday to handle the surge of text messages and calls [...]

Purchasing power sees slight gain in January Posted: 01 Feb 2013 06:50 PM PST Consumer purchasing rose by 8.1 percent in January, compared to the same period last year, according to the General Statistics Office (GSO). However, the increase is far below the 22-percent pace seen during the same month a year ago, the GSO said. GSO economist Vu Manh Ha attributed the slower pace of growth to Tet [...]

VFA opposes US anti-subsidy investigation Posted: 01 Feb 2013 06:49 PM PST The Vietnam Fisheries Association (VFA) has protested against the US Department of Commerce (DOC)'s launch of investigation under an anti-subsidy lawsuit against frozen warm-water shrimp imported from seven countries, including Vietnam. The anti-subsidy investigation was made after the Coalition of Gulf Shrimp Industries (COGSI) lodged the petition on January 18. In a recent press release, [...]

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