Vietnam Business News

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• Inflationary pressure keeps building up
• Vietnam enjoys trade surplus with Indonesia
• Remittances hit four-year highest level
• Around 130,000 people get jobs in January
• Vinalines to focus on three main business lines
• VN ranks 5th among biggest aquaculture exporters to US
• VietinBank gets major loan from 2 foreign banks
• Vietnam and Laos strengthen financial ties
• State Audit asked to improve effectiveness
• Inward remittances hit four-year high

Inflationary pressure keeps building up Posted: 06 Feb 2013 06:22 AM PST Vietnam must practice prudence if it is to maintain inflation at the single-digit level as the inflationary pressure keeps rising while response policies are not enough, say HSBC economists. In January, headline inflation increased 7.1% against the same period last year, while the year-on-year rise in December was 6.9%. Compared to the preceding month, it [...]

Vietnam enjoys trade surplus with Indonesia Posted: 06 Feb 2013 06:19 AM PST Viet Nam made a trade surplus of over US$110 million with Indonesia for the second consecutive year in 2012. Two-way trade turnover between the two countries in the year reached US$4.605 billion, slightly decreased by 0.02% from 2011. Viet Nam's export turnover from Indonesia was US$2.358 billion. The figure included more than US$458.392 million from [...]

Remittances hit four-year highest level Posted: 06 Feb 2013 06:10 AM PST Overseas remittances to Vietnam were estimated to total 10 billion USD last year, the highest figure for the last four years. Most of the remittances were sent through banks, according to the State Committee for Overseas Vietnamese Affairs, compared to previous years when a lot was exchanged on the black market. The committee reported that [...]

Around 130,000 people get jobs in January Posted: 06 Feb 2013 06:09 AM PST As many as 130,000 people were provided with jobs in January, of whom 7,000 were sent to work abroad, according to the Ministry of Planning and Investment. In 2013, Vietnam sets a target of generating 1.6 million jobs, including 85,000 guest workers. The country also strives to reduce the unemployment rate in urban areas to [...]

Vinalines to focus on three main business lines Posted: 06 Feb 2013 06:08 AM PST The Viet Nam National Shipping Lines (Vinalines) will focus on three core business lines, including maritime transportation, seaport development and services, according to its restructuring plan approved by the Prime Minister. Regarding maritime transportation, Vinalines will have to restructure its fleet of ships, sell outdated ships to offset losses, focus on domestic market and raise [...]

VN ranks 5th among biggest aquaculture exporters to US Posted: 06 Feb 2013 06:07 AM PST Viet Nam ranks 5th among 130 biggest exporters of aquaculture to the US market, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP). Vietnamese aquaculture products dominated 7% of market share value and over 8% in terms of import quantity the US. Of the aquaculture exports, trout expanded sharply 88% in value, [...]

VietinBank gets major loan from 2 foreign banks Posted: 06 Feb 2013 06:07 AM PST A 5-year loan of EUR 120 million ($155 million) was signed between Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and two giant foreign banks, without the secured commitment of the Vietnamese government or any third party, on February 4th in Hanoi. The loan was given by Sumitomo Mitsui Banking Corporation's Dusseldorf branch [...]

Vietnam and Laos strengthen financial ties Posted: 06 Feb 2013 06:06 AM PST Minister of Finance Vuong Dinh Hue on Feb. 5 met with his Lao counterpart Phouphet Khamphounvong in Hanoi to discuss economic and financial situation in each country. The two ministers reviewed important events in the cooperative relations between the two ministries in 2012. They said the financial cooperation has contributed to the development of the [...]

State Audit asked to improve effectiveness Posted: 06 Feb 2013 06:06 AM PST National Assembly Chairman Nguyen Sinh Hung has asked the State Audit of Vietnam (SAV) to complete its organisation and build an effective and modern administrative system to ensure operational efficiency. Speaking at a conference on February 5 to carry out SAV's tasks for 2013, Hung said the sector has made positive changes in its operation. [...]

Inward remittances hit four-year high Posted: 06 Feb 2013 06:05 AM PST Overseas remittances to Vietnam were estimated at a total $10 billion in 2012, the highest figure in the last four years. Most of the remittances were sent through banks, according to the State Committee for Overseas Vietnamese Affairs, compared to previous years when a lot was exchanged on the black market. The committee reported that [...]

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