Vietnam Business News

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• Group urges end to jewelry export tax
• Mekong Delta’s tra fish exports aim for US$2 billion
• Foreign remittances estimated at 10bn USD
• Da Lat vegetables win back market from Chinese produce
• Vietnamese hotels urged to improve level of services
• HCM City retailers launch big promotion during Tet
• Vietnamese market attractive to us investors
• Rice export in 2013: three scenarios, one goal
• Vinatex to have IPO on July 1, 2013
• Vietnam central bank encourages banks to seek m&a actively

Group urges end to jewelry export tax Posted: 03 Feb 2013 10:24 PM PST The Viet Nam Gold Business Association (VGBA) has urged the State Bank of Viet Nam to abolish the export tax on jewellery which is at 10 per cent now. It said since the ministry imposed the tax on gold with purity of 80 to 99 per cent in August 2011, exports of jewellery and gold [...]

Mekong Delta’s tra fish exports aim for US$2 billion Posted: 03 Feb 2013 10:23 PM PST The Mekong Delta provinces are aiming to boost tra fish export turnover to US$1.7–2 billion this year. The Mekong Delta will allocate an additional 6,000 hectares of water surface area to tra fish breeding, particularly in the provinces of Dong Thap, An Giang, Ben Tre, and Can Tho City. These provinces will employ advanced tra [...]

Foreign remittances estimated at 10bn USD Posted: 03 Feb 2013 08:25 PM PST Last year's overseas remittances into Vietnam have been calculated between 9.5 billion USD and 10 billion USD, considerably exceeding the total of 9 billion USD for 2011. The Ministry of Industry and Trade estimated Vietnam's 2012 total export revenues to be around 114.5 billion USD. If the year's all foreign remittances reach 10 billion USD, [...]

Da Lat vegetables win back market from Chinese produce Posted: 03 Feb 2013 08:21 PM PST A wide range of fruits and vegetables grown in the Central Highlands city of Da Lat are being distributed to localities countrywide, surpassing their Chinese rivals to dominate the market. "Da Lat-grown clean vegetables have been distributed to the central provinces and enjoyed strong growth from the northern market," said Duong Ngoc Duc, head of [...]

Vietnamese hotels urged to improve level of services Posted: 03 Feb 2013 08:05 PM PST While the rapid growth of Viet Nam’s tourism industry has benefited the hotel sector, experts warn that not all hotels meet the industry’s basic requirements. Most hotels in the country are small, with less than 20 rooms, and lack professionalism in terms of design, management and staff training, said Le Mai Khanh, Director of the [...]

HCM City retailers launch big promotion during Tet Posted: 03 Feb 2013 08:03 PM PST Retailers in Ho Chi Minh City are launching numerous promotional campaigns hoping to cash in on the shopping fever as the year's biggest festival, the Lunar New Year (Tet), is only days away. As part of the Tet promotional campaign, Big C supermarket has offered discounts from 5-50 percent for more than 800 food items [...]

Vietnamese market attractive to us investors Posted: 03 Feb 2013 08:03 PM PST US investors are showing their keen interest in the Vietnamese market thanks to political stability and cheap labour costs. Many US business groups like Intel and IBM have reaped substantial success in Vietnam. Major financial institutions such as Citibank, JP Morgan Chase, Wells Fargo, and Far East National Bank have also recently invested in Vietnam, [...]

Rice export in 2013: three scenarios, one goal Posted: 03 Feb 2013 08:02 PM PST No matter what way Vietnam follows to develop rice production and export, the way must ensure two things – the benefits for farmers and the stability of the rice trade. What will be the world market like in 2013? The Vietnam Food Association (VFA) has warned about a difficult year for rice export in 2013. [...]

Vinatex to have IPO on July 1, 2013 Posted: 03 Feb 2013 08:02 PM PST The Vietnam National Textile and Garment Group (Vinatex) will have its initial Public Offer (IPO) on July 1, 2013, the local newspaper TBSG Online, citing Vu Duc Giang-chairman of member board of Vinatex as saying. The firm is now completing procedures for its IPO. The group is also negotiating to select foreign strategic partners, Giang [...]

Vietnam central bank encourages banks to seek m&a actively Posted: 03 Feb 2013 08:01 PM PST The State Bank of Vietnam (SBV) voiced to encourage and create favorable conditions for credit institutions to actively carry out merger and acquisition, the central bank said in its latest directive released early last week. The SBV would also stand ready to apply compulsory measures to handle weak banks in accordance with legal regulations. The [...]

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