Vietnam Business News

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• Vinachem battles fake fertilisers
• HR firm bullish about Viet Nam’s potential
• ACB posts lower profit due to gold and forex loss
• Sacombank announces January profit
• Auto market enjoys strong growth in January
• Exporters want strict tra fish quality management
• Supermarkets achieve strong growth at Tet
• Local enterprises keen on Myanmar this year
• Property project in Can Tho recalled
• One more cable car system at Ba Na Hills

Vinachem battles fake fertilisers Posted: 21 Feb 2013 10:25 PM PST The Viet Nam National Chemical (Vinachem) Group should closely co-operate with relevant sectors in fighting against the trade of counterfeited fertiliser, said Minister of Industry and Trade Vu Huy Hoang. Hoang urged the group to continue drawing up effective measures to remove difficulties for its affiliates, while focusing on ensuring efficiency of its operational projects [...]

HR firm bullish about Viet Nam’s potential Posted: 21 Feb 2013 09:31 PM PST Careerbuilder, a leading human capital solutions provider headquartered in the US, announced its official entry into Viet Nam yesterday. The company said that it saw good development potential in the country despite the serious economic downturn. It has acquired HR Vietnam and Kiem Viec, two of four main sites belonging to Vietnam Online Network (VON), [...]

ACB posts lower profit due to gold and forex loss Posted: 21 Feb 2013 07:40 PM PST Asia Commercial Bank (ACB) incurred an after-tax loss of more than VND158 billion (US$7.6 million) in the fourth quarter of 2012. The loss pushed down its yearly profit to just VND928.4 billion ($44.4 million), the lender reported. This figure represented a sharp decrease from the total net income of over VND3.2 trillion ($153.1 million) it [...]

Sacombank announces January profit Posted: 21 Feb 2013 07:35 PM PST Sacombank announced on Wednesday that it achieved VND275 billion (US$23 million) in pre-tax profit in January. This year's target is set at VND3.2 trillion ($152 million). The bank plans to increase its charter capital to VND15.835 trillion from the current VND10.740 trillion. It runs a network of nearly 420 branches and transaction offices in 48 [...]

Auto market enjoys strong growth in January Posted: 21 Feb 2013 07:33 PM PST Auto sales in January sharply rose year-on-year but declined against December, says the latest report of the Vietnam Automobile Manufacturers Association (VAMA). The total sales volume of the industry was nearly 9,000 vehicles last month, up 50% over the same period last year but down 10% compared to the preceding month. VAMA is not certain [...]

Exporters want strict tra fish quality management Posted: 21 Feb 2013 07:32 PM PST Processors and exporters support a draft decision on strict control on the quality of export tra and basa fish, saying this move is necessary to improve the status of these items. The National Agro-Forestry-Fisheries Quality Assurance Department (Nafiqad) under the Ministry of Agriculture and Rural Development is collecting opinions among enterprises on the draft decision. [...]

Supermarkets achieve strong growth at Tet Posted: 21 Feb 2013 07:30 PM PST While many traditional markets and small stores had few customers during Tet holiday, supermarkets in HCMC obtained strong sales growth, buoyed by promotion programs, stable prices and convenience. According to Nguyen Phuong Thao, director of Maximark Cong Hoa Supermarket in Tan Binh District, retailers were quite worried before the holiday. However, consumption rose sharply two [...]

Local enterprises keen on Myanmar this year Posted: 21 Feb 2013 07:29 PM PST Many Vietnamese enterprises have drawn up investment plans in the newly-opened Myanmar market. Real estate enterprises in Vietnam have been speeding up investment in Myanmar as they have seen potentially large demand in that market. Office and serviced apartment rents have jumped by three times against 2012. Hoang Anh Gia Lai Company is preparing to [...]

Property project in Can Tho recalled Posted: 21 Feb 2013 07:26 PM PST The government of Can Tho City has signed a decision to recall the investment certificate of the residential project of Nam Song Hau Urban Development Co. Ltd. in Cai Rang District. According to Vo Thanh Thong, vice chairman of the city, the project has long been delayed. The project has a total area of over [...]

One more cable car system at Ba Na Hills Posted: 21 Feb 2013 07:26 PM PST After more than one year of construction, the third cable car system invested by Ba Na Cable Car Service JSC at Ba Na Hills Resort will come into service from March 29. This is the only cable car system in the world to net four Guinness records recognized by Guinness World Records. The telpher holds [...]

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