Vietnam Business News

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• Cat Bi International Airport upgrades begins
• Vitas promotes cooperation with Korean partner
• Binh Duong attracts US$365 million in FDI
• Vietnam nearly finishes exporting non-SJC bullion and re-importing solid gold
• Demand for air conditioners, fans rises
• City unveils fifth annual IT-Telecom awards
• Advertising revenues rise despite economic slump
• Maintaining VAT tax incentives to support businesses
• High rates, collateral block bank lending
• Dong Thap: Credit growth +1.56%; Total deposits +3.04% by mid-Mar

Cat Bi International Airport upgrades begins Posted: 19 Mar 2013 06:48 PM PDT The Hai Phong municipal People's Committee has held a ceremony to launch construction on the Cat Bi International Airport upgrade project in the presence of Prime Minister Nguyen Tan Dung. The upgrade of the airport aims to meet the northern port city and neighbouring areas' aviation demands. The project has total investment capital exceeding VND3,600 [...]

Vitas promotes cooperation with Korean partner Posted: 19 Mar 2013 06:40 PM PDT Vietnam Textile and Apparel Association (Vitas) has signed a strategy cooperation deal with the Republic of Korea's Daegu Gyeongbuk Textile Industries Association (DGTIA). The deal will help the two sides boost development cooperation in textile industry and exploit the ASEAN–RoK Free Trade Area (AKFTA) more effectively. Under the deal, Vitas and DGTIA will develop cooperation [...]

Binh Duong attracts US$365 million in FDI Posted: 19 Mar 2013 06:38 PM PDT The Binh Duong provincial People's Committee has thus far licensed 27 projects for Foreign Direct Investment (FDI) and domestic businesses during March. Committee Chairman Le Thanh Cung said the province has welcomed 40 new FDI projects and those with additionally increased capital since the beginning of 2013, representing a total capitalization of US$365 million. They [...]

Vietnam nearly finishes exporting non-SJC bullion and re-importing solid gold Posted: 19 Mar 2013 05:00 AM PDT Vietnam banks have nearly finished exporting non-SJC gold bars and importing standardized gold by now, the local newswire Gafin.vn quoted Nguyen Hoang Minh, deputy governor of the central bank's branch in Ho Chi Minh City, as saying. Reportedly, the central bank authorized four commercial banks [namely, Techcombank, Sacombank, DongABank and VietABank] to do the activities [...]

Demand for air conditioners, fans rises Posted: 19 Mar 2013 04:32 AM PDT HCM CITY — Demand for electronic products in HCM City has increased as much as 40 per cent in the past few days because of hotter weather, according to traders in the city. Bui Tan Cuong, marketing director of the Thien Hoa Electronic Centre, said that since the Tet (Lunar New Year) holiday, demand for [...]

City unveils fifth annual IT-Telecom awards Posted: 19 Mar 2013 04:32 AM PDT HCM CITY— HCM City’s Department of Information and Communications has called for entries for the fifth annual Information Technology-Telecommunications Awards. Companies, organisation, groups, and individuals making innovative information technology products should access for more information about the award. Entries can be submitted from now until May 12. The awards, instituted by the city People’s Committee, [...]

Advertising revenues rise despite economic slump Posted: 19 Mar 2013 04:25 AM PDT Although the economy is facing a slump, advertising revenues in 2012 posted a growth rate of 30 per cent compared to the previous year. Data given by Kantar Media Vietnam Company showed that last year, firms spent VND20.4 trillion on advertisements via mass media. Of this, television commercials accounted for more than VND18.24 trillion, up [...]

Maintaining VAT tax incentives to support businesses Posted: 19 Mar 2013 04:20 AM PDT Reasoning economic difficulty, the National Assembly on March 18 agreed not to reduce the number of groups of goods that are entitled to the value added tax rate (VAT) of 0% and 5%. In the morning session, the National Assembly Standing Committee made comments on draft amendments to the Law on Value Added Tax (VAT), [...]

High rates, collateral block bank lending Posted: 19 Mar 2013 04:07 AM PDT The central bank is battling with a paradox: banks cannot lend the billions of dong they have in cash while businesses are unable to borrow due to high interest rates and difficult collateral conditions. According to the State Bank of Viet Nam (SBV)’s HCM City branch, the money that banks in the city mobilised in the first [...]

Dong Thap: Credit growth +1.56%; Total deposits +3.04% by mid-Mar Posted: 19 Mar 2013 04:07 AM PDT Total outstanding loans of commercial banks in Dong Thap as of Mar 15 this year are estimated at VND29.641 trillion, up 38.94% on year and 1.56% from end 2012, according to statistics from the provincial central bank branch. Of the sum, lending to SMEs rose 1.69% from late 2012 to VND4.633 trillion while loans for agriculture [...]

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