Sunday, March 17, 2013

Vietnam Business News

Vietnam Business News

HCMC finds ways to reduce housing inventory

Posted: 17 Mar 2013 12:43 AM PDT

The Department of Construction in Ho Chi Minh City on March 14 reported to the People's Committee on housing inventory and measures to deal with the present dire condition. According to the Department, the City now has 1,321 housing projects with 572,420 apartments, of which only 131 projects have been built with 27,000 apartments. The [...]

Realty developers get nod to transform big-size condos

Posted: 17 Mar 2013 12:42 AM PDT

A number of projects on developing commercial homes and urban areas can be converted into low-cost homes or public facilities in line with a new circular just issued by the Ministry of Construction. As per the circular, big-size condos can be split into smaller ones to enhance their affordability and attract customers, but the revised [...]

FDI investment capital shows increase in 2012

Posted: 17 Mar 2013 12:35 AM PDT

Foreign investments touched $16.3 billion in Vietnam last year, including newly registered and additional capital, showing an increase of $3 billion as compared to the provisional data announced earlier. Japan remained the biggest investor with $5.6 billion in newly registered and additional capital, accounting for 34.2 per cent of total FDI investment capital in Vietnam [...]

The bad debt panorama: hundreds of millions USD may be lost

Posted: 17 Mar 2013 12:32 AM PDT

International experts have warned that the bad debts, worth hundreds of trillions of dong would still be the big challenge for the Vietnam's national economy for at least several years. Most businesses are big debtors A report by the Steering Committee on Enterprise Renovation and Development of the government office showed that the loss incurred [...]

Lacking capital, businesses look daggers at SCIC

Posted: 17 Mar 2013 12:32 AM PDT

If the State Capital Investment Corporation (SCIC) only does the simple work of depositing the state's money at banks for profit, it would be better for it to get dissolved. SCIC, the powerful state's corporation, has been facing the heavy criticism from the public after it released the 2012 finance report showing that it deposited [...]

Selling cars in lots – the good solution in economic recession

Posted: 17 Mar 2013 12:29 AM PDT

The first rays of hope have been flashed on the automobile market, but the demand remains weak in the economic downturn. Therefore, selling cars in lots remains the top choice for automobile manufacturers. On March 6, BMW Euro Auto delivered two BMW520i to Moevenpick Hanoi Hotel. Horst J. Herdtle, General Director of BMW Euro Auto, [...]

CEO forum discusses solving enterprise difficulties

Posted: 16 Mar 2013 04:29 AM PDT

Economists and policy makers have gathered at a CEO forum in Hanoi on March 15, discussing approaches to economic crisis control and macroeconomic solutions to difficulties burdening businesses. Economic experts forecast the national economy will encounter challenges in 2013 due to the global economy's sluggish performance. Deputy Minister of Industry and Trade Tran Tuan Anh [...]

Footwear firms buoyed by prospect of EU deal

Posted: 16 Mar 2013 04:27 AM PDT

HA NOI— Free trade agreements between ASEAN countries and the EU would help Viet Nam’s footwear industry enjoy a reduction of tariffs from the current 12.4 per cent to zero. According to the Viet Nam Leather and Footwear Association (Lefaso), footwear is one of Viet Nam’s major exports, accounting for between 7-12 per cent of [...]

Local firms in distress over gold bar trading rule

Posted: 16 Mar 2013 03:56 AM PDT

The State Bank of Vietnam (SBV) has issued a circular ruling it will initially trade in SJC-labeled gold bars only while corporate traders express their anxieties about the dark side of the rule. As per Circular 06/2013/TT-NHNN signed by the central bank's governor on Tuesday and taking effective from Wednesday, gold bars to be traded [...]

Housing laws await huge alterations

Posted: 16 Mar 2013 03:47 AM PDT

HA NOI — The Law on Housing and the Law on Real Estate Business will soon see vast amendments, according to Minister of Construction Trinh Dinh Dung. Problems in the current laws hindered the development of social housing as well as real estate management, Dung said; moreover, the real estate sector needed the State’s intervention [...]
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