Vietnam Business News |
- Want to be a mobile phone billionaire? Not that easy
- 50% of codes slump, indices plunge
- FDI projects to charm Year of the Snake
- SOEs to bravely spend big
- Air Mekong has its wings clipped
- PM approves Master Plan on economic restructuring
- World Bank warns economy will be squeezed
- Aeon’s vote of confidence in local consumers
- Pilot PPP project awaits green-light
- FDI backlog: the bogus billions
| Want to be a mobile phone billionaire? Not that easy Posted: 26 Feb 2013 01:10 AM PST H.T.T., based in the coastal city of Quy Nhon, is neither a banking mogul nor a successful businessman, but he has as much as VND1 billion, roughly US$48 million, in his mobile phone account. However, he is in fact only a subscriber who joined a super-promotional campaign provided by Gmobile, the new brand name of [...] |
| 50% of codes slump, indices plunge Posted: 26 Feb 2013 01:09 AM PST Shares plunged on both national stock exchanges this morning as almost 50 per cent of codes lost value. The VN-Index on the HCM City Stock Exchange declined 1.31 per cent to a close of 477.34 points by the end of this morning with losers overwhelming gainers by 183-39 with the other 90 flat. Trading was [...] |
| FDI projects to charm Year of the Snake Posted: 26 Feb 2013 01:08 AM PST Vietnam is looking forward to licencing some large-scale foreign direct investment projects in the Year of the Snake. Dang Xuan Truong , director of Thai Nguyen Provincial Industrial Zones Management Authority, said it was likely that a Samsung project with the investment capital of $2 billion would be one of the largest and earliest foreign [...] |
| Posted: 26 Feb 2013 01:07 AM PST Many big state-owned enterprises are planning to invest much more than they did last year despite the gloomy economy. According to the Ministry of Planning and Investment (MPI), the existing economic woes would not prevent many state-owned behemoths from pouring heavy capital into new projects in 2013. Statistics from 78 state-owned groups and corporations showed [...] |
| Air Mekong has its wings clipped Posted: 26 Feb 2013 01:06 AM PST Twenty-eight months after launching its first flight in a challenging aviation market, Air Mekong has been forced to temporarily halt operation because of losses. According to the Civil Aviation Administration of Vietnam (CAAV), Air Mekong will stop flying from February 28 to restructure its fleet as well as business strategy. Lai Xuan Thanh, general director [...] |
| PM approves Master Plan on economic restructuring Posted: 26 Feb 2013 01:05 AM PST Prime Minister Nguyen Tan Dung has approved the Master Plan on Economic Restructuring for the 2013-2020 period, in combination with converting the growth model to improve competitive quality, effectiveness and capacity, and focusing on reorganizing public investment, credit organisations and state-owned enterprises. The master plan defines three concrete goals: Firstly, perfecting the socialist-oriented market mechanism, [...] |
| World Bank warns economy will be squeezed Posted: 26 Feb 2013 12:08 AM PST Vietnam’s economy will be hurt by local and external financial woes this year, according to a report by the World Bank The warning was issued in the World Bank's Global Economics Prospects Report released in late January in Hanoi. Vietnam “will be vulnerable to drop-offs in exports or external finance,” the report said, because its [...] |
| Aeon’s vote of confidence in local consumers Posted: 25 Feb 2013 11:07 PM PST Japanese retail group Aeon will build a third store in Vietnam as it takes aim at the young, potential market. According to a source of the Ministry of Planning and Investment's Investment Promotion Centre-North Vietnam, the retailer had obtained an investment certificate for building a $200 million store in Hanoi. AeonMall Vietnam, established last year, [...] |
| Pilot PPP project awaits green-light Posted: 25 Feb 2013 10:45 PM PST A fresh capital structure proposal could propel the implementation of Vietnam's first public-private partnership infrastructure project, the Dau Giay-Phan Thiet expressway. The proposed portion of the state capital contribution to the 101 kilometre Dau Giay-Phan Thiet expressway project, also backed by lead private investor Bitexco Group, has been hiked to 40 from 29.4 per cent [...] |
| FDI backlog: the bogus billions Posted: 25 Feb 2013 10:33 PM PST It has become an all-too-familiar pattern: A foreign developer signs agreements with local authorities in Vietnam, getting approval for an ambitious real estate project—a resort, an industrial park, a new "city"—said to be worth billions of dollars. But then the bold schemes become big disappointments. Today the stockpile of delayed foreign direct investment (FDI) property [...] |
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