Vietnam Business News

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• Fisheries cast nets in rough waters
• First private carrier enters global aviation market
• Argentina removes trade barriers
• National tourism plan seeks to draw more visitors
• Sell pressure remains high
• Quang Nam records visitors in a week of new year
• Following 2012 FX policy does more harm than good: experts
• Steelmakers face stiffer competition this year
• Air Mekong to shut down as of month’s end
• Vietnam credit growth slides 0.16% as of Feb 19

Fisheries cast nets in rough waters Posted: 19 Feb 2013 11:43 PM PST While the nation's tra fish industry is likely to face many of the difficulties that it was beset by in 2012, there are some hopeful signs for this year, industry insiders say. Duong Ngoc Minh, deputy chairman of the Viet Nam Association of Seafood Exporters and Processors (VASEP), said the recent decline in production of [...]

First private carrier enters global aviation market Posted: 19 Feb 2013 10:50 PM PST VietJetAir has launched its latest route connecting HCM City to Bangkok, becoming the first private airline from Viet Nam to enter the international market. The new route would give greater exposure to both Thailand and Viet Nam and help boost tourism flows, said Chutathip Chareonlarp, Director of Tourism Authority of Thailand's HCM City Office, during [...]

Argentina removes trade barriers Posted: 19 Feb 2013 10:49 PM PST Vietnamese exporters will now enjoy better conditions for exporting goods to Argentina, after the South American country decided to remove its non-tariff trade measures. According to the Ministry of Industry and Trade, the Viet Nam Trade Office in Argentina said that on January 25, the Argentinean government abolished regulations requiring importers to apply for the [...]

National tourism plan seeks to draw more visitors Posted: 19 Feb 2013 10:49 PM PST The recently approved National Action Plan on Tourism aims to attract about seven million foreign tourists and about 37 million domestic tourists in 2015. This will draw revenue of 10-11 billion dollars for the tourism industry. The plan aims to develop core areas such as sea and island tourism, cultural tourism and eco-tourism. It also [...]

Sell pressure remains high Posted: 19 Feb 2013 10:48 PM PST Shares reversed yesterday’s losses in HCM City during this morning’s session but continued to tumble in Ha Noi. Meanwhile, selling pressure remains high as the price level was pushed up and enterprises have recently reported declining profits, especially banks and real estate firms. The VN-Index on the HCM City Stock Exchange added 0.64 per cent [...]

Quang Nam records visitors in a week of new year Posted: 19 Feb 2013 10:48 PM PST As many as 80,000 tourists visited two UNESCO-recognised world heritage sites – the ancient town of Hoi An and My Son Sanctuary – during the seven days of the lunar New Year holiday, said Dinh Hai, director of the Quang Nam Culture, Sports and Tourism Department "Things are looking good for tourism in the central [...]

Following 2012 FX policy does more harm than good: experts Posted: 19 Feb 2013 10:44 PM PST Maintaining the 2012 foreign exchange policy this year may not be as helpful for the economy as it was throughout the last two years, local experts say. Banking expert Nguyen Tri Hieu has told Tien Phong newspaper that the State Bank of Vietnam should allow the exchange rate to fluctuate within 3 percent, and lower [...]

Steelmakers face stiffer competition this year Posted: 19 Feb 2013 10:42 PM PST The year 2013 is predicted to be tougher for the domestic steel industry as global demand looks likely to remain low. According to chairman of the Viet Nam Steel Association (VSA) Pham Chi Cuong, the continued paralysis of the property market has also had a significant impact on the local steel industry. The Government's measures [...]

Air Mekong to shut down as of month’s end Posted: 19 Feb 2013 10:42 PM PST Air Mekong will offer its last service on February 28 before suspension operation for a restructuring, the private carrier announced on Tuesday. The airliner currently operates a fleet of four 90-seat Bombardier CRJ900 aircraft made in Canada, and will return them to US-based Sky West after the last flight, Air Mekong said. Sky West had [...]

Vietnam credit growth slides 0.16% as of Feb 19 Posted: 19 Feb 2013 08:34 PM PST Total outstanding loans of the whole banking system as of February 19, 2013 were estimated to decline by 0.16% from last December, much better than lending shrinkage of around 3% a year back, the Saigon Times reported. In 2013, Vietnam targets lending expansion rate of 12% with total loans including banks' investments in government bonds. [...]

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