Vietnam Business News

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• SJC can process 3 tons of gold a day, Chairman says
• Outlook brightens for tra producers
• Milk prices boil over after Tet
• Updated- Vietnam central bank to hold auction for gold bars on Mar 1
• Cashew exports likely to remain stable as farmers eye bumper crop
• Domestic gold soars past global prices
• Businesses try every trick to borrow capital
• Conference discusses future of nation’s coffee industry
• Consumerism, with a jolt of caffeine gets caffeinated
• Illicit cigarettes take toll on the economy

SJC can process 3 tons of gold a day, Chairman says Posted: 26 Feb 2013 10:56 PM PST The Saigon Jewelry Company Limited (SJC) can process 80,000 taels or around 3 tons of gold bars per day, the local newswire Gafin.vn reported, quoting chairman Le Hung Dung, as saying. The SJC yesterday [Feb 26] signed a contract with the central bank to process gold bars. Accordingly, the SJC will only play the role [...]

Outlook brightens for tra producers Posted: 26 Feb 2013 10:26 PM PST Orders for Vietnamese tra fish from European Union (EU) countries are gradually increasing after a long time of gloom, said the general secretary for the Viet Nam Association for Seafood Exporters and Producers. According to general secretary Truong Dinh Hoe, the EU remained one of the main importers of Viet Nam's tra fish, in large [...]

Milk prices boil over after Tet Posted: 26 Feb 2013 09:56 PM PST Dairy product prices have gone up by an average of 10 per cent since the Tet holiday, milk traders say. "The price increase applies to both domestic and imported milk products. Prices of all powdered and fresh milk have risen after Tet," the staff of an online milk shop, www.sua.vn, told VietNam News. She said [...]

Updated- Vietnam central bank to hold auction for gold bars on Mar 1 Posted: 26 Feb 2013 09:48 PM PST The State Bank of Vietnam (SBV) plans to carry out an auction to sell gold bars this Friday [March 1], the local newswire Cafef.vn, quoting Nguyen Quang Huy, head of the central bank's foreign exchange management department, as saying. The number of participants would depend on the conditions of those institutions, Huy added. The central [...]

Cashew exports likely to remain stable as farmers eye bumper crop Posted: 26 Feb 2013 08:26 PM PST Viet Nam's cashew exports in 2013 will be the same as last year at about 220,000 tonnes, according to the Viet Nam Cashew Association (Vinacas). Speaking at a conference in HCM City yesterday, Nguyen Van Chieu, Vinacas deputy chairman, said enterprises exported 18,479 tonnes of cashew worth US$109.7 million in January. The shipments marked an [...]

Domestic gold soars past global prices Posted: 26 Feb 2013 07:54 PM PST The gap between global and domestic gold prices reached a record VND5.5 million ($264) per tael last week, prompting measures to resolve the situation in order to protect the macro-economy. According to Kitco, last Thursday the gold price on the global market stood at US$1,557 per ounce (equivalent to VND 39.3 million per tael). Meanwhile [...]

Businesses try every trick to borrow capital Posted: 26 Feb 2013 07:52 PM PST Unable to access bank loans, businesses have to play tricks to seek loans from other different sources. A report by the State Bank of Vietnam showed that the credit growth rate of the whole banking system in 2012 was 8.19%. Especially, the lending increased sharply during the 10 last days of the year, while by [...]

Conference discusses future of nation’s coffee industry Posted: 26 Feb 2013 07:26 PM PST The Central Highlands province of Dak Lak will host a conference focused on the prospects of Viet Nam's coffee on March 10. Participants will discuss sustainable coffee production methods and ways to improve the value of Vietnamese coffee on the global market. Leading experts from domestic and international organisations like Nestle, Vinacafe, and Trung Nguyen [...]

Consumerism, with a jolt of caffeine gets caffeinated Posted: 26 Feb 2013 05:45 PM PST As the incomes of consumers perks up, Vietnam has emerged as a new market for famous coffee and foodservice brands to exploit. Ngoc Linh reports. Starbucks Coffee Company, the largest coffee chain in the world, on January 31, 2013 officially opened the doors to its first store in Vietnam, following an expanded long-term relationship with [...]

Illicit cigarettes take toll on the economy Posted: 26 Feb 2013 05:36 PM PST Illicit cigarette imports, particularly from Cambodia, are continuing to badly affect Vietnam's cigarette production and tax collection. The Vietnam Tobacco Association (VTA) said illicit cigarettes currently remained a big challenge to the local tobacco industry. Such cigarettes came to Vietnam illegally in many ways, with the Vietnamese-Cambodian border the leading source. Notably, a pair of [...]

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