Vietnam Business News

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• Economy moves towards growth, auditors predict
• Review of shortcomings needed to attract FDI
• VN rice sector concerned as Thailand mulls sell-off
• Finance watchdog urges price control
• City tells hi-tech park managers to find own funds
• Growing CPI threatens share trade volumes
• Big guys’ alliance causes worry about monopoly in energy sector
• Banking official under fire for word gaff concerning ATM users
• Cambodia, Vietnam target US$5bn trade turnover in 2015
• Vietnamese timber products win overseas favour

Economy moves towards growth, auditors predict Posted: 10 Mar 2013 09:21 PM PDT Economic activity in Viet Nam remains subdued but is set to pick up this year and in 2014, auditing firm Ernst & Young predicts in its forecast about rapid-growth markets. This year, the country’s Gross Domestic Product (GDP) is expected to be 5.5 per cent, and the consumption price index (CPI) 7.8 per cent. In [...]

Review of shortcomings needed to attract FDI Posted: 10 Mar 2013 09:11 PM PDT Viet Nam failed to fulfill its foreign direct investment (FDI) target for the third consecutive year in 2012. The decline indicates that the country may be less appealing to foreign investors than it once was. The country needs to assess its achievements and shortcomings to increase both quality and quantity of FDI inflow, Vietnam News [...]

VN rice sector concerned as Thailand mulls sell-off Posted: 10 Mar 2013 09:06 PM PDT Vietnamese rice exporters are put under concern as Thailand is likely to sell off its rice stockpile under the pledging scheme at market prices, which will affect Vietnam's cheap-price competitiveness on the global market. "[Thai] government will have to take a big loss on the sale, because pledging prices were set much higher than the [...]

Finance watchdog urges price control Posted: 10 Mar 2013 09:00 PM PDT While inflation control measures should focus on price management – especially in the first months of the year – prices of essential commodities should be adjusted with caution, the National Financial Advisory Commitee said. The committee advocated forming a “price stabilisation package” that would include roadmaps for adjusting the prices of petrol, electricity and public [...]

City tells hi-tech park managers to find own funds Posted: 10 Mar 2013 09:00 PM PDT HCM CITY— The HCM City People’s Committee has asked the Sai Gon Hi-Tech Park to spell out its plans to attract much-needed investment to build infrastructure for its second phase. At the meeting with the SHTP management board last week, city Deputy Chairman Le Manh Ha said the plans should incorporate ways to mobilise investments [...]

Growing CPI threatens share trade volumes Posted: 10 Mar 2013 09:00 PM PDT HA NOI—Securities trading last week declined. The VN-Index on the HCM City Stock Exchange lost 1.36 per cent over the previous week, reaching 470.68 points. On the Ha Noi Stock Exchange, the HNX-Index finished at 61 points, a 2.84 per cent decline. After strong sell-offs earlier in the week, the sellers reduced their trading. This [...]

Big guys’ alliance causes worry about monopoly in energy sector Posted: 10 Mar 2013 08:56 PM PDT The strategic cooperation of the three big guys in the energy sector is believed to harm the national economy because it would make the market monopoly become more serious. Three most powerful groups in the energy sector, namely the Electricity of Vietnam (EVN), PetroVietnam (PVN) and the Vietnam Coal and Mineral Industries Group (Vinacomin) have [...]

Banking official under fire for word gaff concerning ATM users Posted: 10 Mar 2013 08:51 PM PDT The State Bank of Vietnam (SBV) has asked Bui Quang Tien, head of the Payment Department, to explain his comments concerning ATM customers. At a press conference held on February 27, Mr. Tien used language that was considered offensive by many when speaking about ATM customers. “People seem to sign bank contracts with their eyes [...]

Cambodia, Vietnam target US$5bn trade turnover in 2015 Posted: 10 Mar 2013 08:49 PM PDT Vietnamese businesses are enjoying more investment opportunities in Cambodia thanks to preferential trade conditions offered by both countries. Vietnam is expected to increase its Cambodian market investments to US$3.2 billion. The value of two-day trade is predicted to hit US$5 billion in 2015. Cambodian Planning Minister Chhay Than says Cambodia is improving conditions for foreign [...]

Vietnamese timber products win overseas favour Posted: 10 Mar 2013 08:46 PM PDT Australia's Midway Tasmania Wood Imports Director Wayne Smith believes Vietnamese timber products boast better quality for lower prices than comparable products. Smith made the remarks upon visiting the Vietnamese pavilion at the International Furniture Fair Singapore 2013 on March 9. He said his company has imported Vietnamese wood products for ten years. Brothers Furniture Co. [...]

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