Vietnam Business News

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• National bourses merger to be delayed due to slump in trading, unsuitable timing
• Sales turn up at supermarkets
• Banks to keep tight monetary policies
• Lucky money in scarcity
• Masan buys beverage firm through subsidiary
• Shrimp export up five-fold in Bac Lieu
• Banks asked to ensure cash supply for ATMs
• IHI Japan invests in Dinh Vu Industrial Park
• Large rice field model to be compulsory
• SCG announces latest investment in Viet Nam

National bourses merger to be delayed due to slump in trading, unsuitable timing Posted: 02 Feb 2013 06:48 AM PST The State Securities Commission will submit a restructuring plan to the Government this year to merge the nation’s two stock exchanges by 2015. The move comes a year later than originally forecast due to the complex nature of the plan. “We planned to submit the restructuring plan last year but due to the prolonged market [...]

Sales turn up at supermarkets Posted: 02 Feb 2013 06:46 AM PST With about 10 days before the beginning of the Tet (Lunar New Year) holiday, the usual hustle and bustle associated with the period is missing at traditional markets in HCM City. Tran Thi Kiem Hoa of Tan Dinh Market’s Management Board said “The number of people visiting markets had increased in recent days, but purchasing [...]

Banks to keep tight monetary policies Posted: 02 Feb 2013 06:46 AM PST Credit institutions and State Bank branches have been told to keep tight but flexible control of their monetary policies to minimise inflation and accelerate growth, with reasonable interest rates. In the short term, the State Bank has set a target to increase the total money supply by between 14-16 per cent and credit growth by [...]

Lucky money in scarcity Posted: 02 Feb 2013 06:45 AM PST Vietnamese banknotes in VND10,000 and VND20,000 denominations have become sought-after these days as people want to use them to grant lucky money during Tet, but supply falls short of demand. Giving lucky money, or li xi as locally called, is traditional custom that is practiced during Tet, or the Lunar New Year, which falls on [...]

Masan buys beverage firm through subsidiary Posted: 02 Feb 2013 06:44 AM PST Private sector company Masan Group (MSN) yesterday announced that its consumer goods arm – Masan Consumer – would purchase 24.9 per cent of bottled beverage company Vinh Hao. On the back of the transaction, Masan Consumer plans to launch a cash tender offer process at similar commercial terms to increase its stake. The potential transaction [...]

Shrimp export up five-fold in Bac Lieu Posted: 02 Feb 2013 06:43 AM PST In the first month of the year, seafood enterprises processed more than 6,000 tonnes of shrimp for export, a huge increase from last year. As a result, the exports earn the province 20 million USD in revenue, twice the amount earned during the same period last year. Traders now purchase tiger prawns at prices between [...]

Banks asked to ensure cash supply for ATMs Posted: 02 Feb 2013 06:43 AM PST The State Bank of Vietnam (SBV) has urged commercial banks to make sure that the cash supply at their ATMs is enough to meet the increasing demand over Tet. They are also required to deal with customer complaints and ensure smooth operations of ATMs. Banks have assigned staff to supervise ATM networks. According to many [...]

IHI Japan invests in Dinh Vu Industrial Park Posted: 02 Feb 2013 06:40 AM PST IHI Infrastructure Asia Co Ltd has received its investment certificate for their proposed development project in Hai Phong-based Dinh Vu industrial park. The total investment capital for this project has been announced as 47.7 million USD by the Hai Phong Economic Zone Authority. The plant will produce 6,000 tonnes of steel, 80,000 cubic metres of [...]

Large rice field model to be compulsory Posted: 02 Feb 2013 06:40 AM PST The Ministry of Agriculture and Rural Development is urgently working on a set of regulations on rice production under the large-scale field model. Doan Xuan Hoa, deputy director of the Department of Processing and Trade for Agro-Forestry-Fisheries Products and Salt Production under the ministry, said the ministry was collecting comments in the north after doing [...]

SCG announces latest investment in Viet Nam Posted: 02 Feb 2013 06:39 AM PST The Siam Cement Group said it had recently entered a conditional share purchase agreement with the Prime Group Joint Stock Company, a major manufacturer of ceramic tiles in Viet Nam. Total investment will be US$234 million. Under the agreement, SCG will acquire a 85 per cent stake in the company and help to increase SCG’s [...]

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