Vietnam Business News

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• Workforce doesn’t change over the last 5 years
• Vietnam government bonds hurt non-gov’t segment, credit growth: Critics
• Philippines purchases Vietnamese rice
• Auto sales up 97 percent in March
• Cosmetics, wellness products on display
• Garment, textile show goes hi-tech
• New Zealand-invested projects pay off in Binh Dinh
• SBV to slash interest rates further to make loans approachable to businesses
• Chinese scramble for shrimps, crushing Vietnamese businessmen
• Footwear businesses receive orders until Q3

Workforce doesn’t change over the last 5 years Posted: 11 Apr 2013 10:58 PM PDT The number of workers at enterprises has reportedly not increased over the last 5 years. New workers have been employed to offset the left ones, not to serve the enterprises' business expansion plans. "Creating jobs" or "giving jobs"? The latest survey conducted by the Tri Viet Human Resource Development Center at 200 enterprises with 60,000 [...]

Vietnam government bonds hurt non-gov’t segment, credit growth: Critics Posted: 11 Apr 2013 10:54 PM PDT Government bonds have seen robust sales thanks to massive buying by banks, but economists warn it is stymieing the growth of private bonds as well as firms' plans to borrow. In the first quarter the government issued some 65.45 trillion dong (US$3.13 billion) worth bonds, almost half the full year target. Government bonds are a [...]

Philippines purchases Vietnamese rice Posted: 11 Apr 2013 10:53 PM PDT Vietnam has won a contract to supply 187,000 tonnes of rice to the Philippines. The information was released by General Director of the Southern Food Corporation (Vinafood 2) Truong Thanh Phong, on April 11. Under the new contract, won at a bidding session launched on April 3, Vietnam will ship 25-percent broken rice to the [...]

Auto sales up 97 percent in March Posted: 11 Apr 2013 10:51 PM PDT Domestic auto sales hit nearly 8,390 units in March, down 4 percent over the same period last year, but up a significant 97 percent since February, said the Vietnam Automobile Manufacture's Association (VAMA). Compared with February, sales of commercial vehicles rose by 75 percent to more than 2,800 units, while trucks grew 111 percent to [...]

Cosmetics, wellness products on display Posted: 11 Apr 2013 10:50 PM PDT An international exhibition and conference on cosmetics, beauty, hair and spas opened yesterday in HCM City. It will provide beauty specialists with the latest information on industry trends and allow them to network and seek new business opportunities. To be organised at the Saigon Exhibition and Convention Centre until tomorrow, Cosmobeaute Vietnam 2013 has attracted [...]

Garment, textile show goes hi-tech Posted: 11 Apr 2013 10:48 PM PDT HCM CITY — The latest automated equipment as well as fabrics incorporating state-of-the-art technology are on view at the SaigonTex exhibition that opened yesterday in HCM City. Andrew Kay, managing director of CP Exhibition Hong Kong, one of the organisers, said the expo offered local companies an opportunity to learn about and source foreign Free-On-Board [...]

New Zealand-invested projects pay off in Binh Dinh Posted: 11 Apr 2013 10:40 PM PDT New Zealand will orient its cooperation with Vietnam to a strategic partnership with the intensive development of projects in Binh Dinh province, said Ambassador Haike Manning. New Zealand Ambassador to Vietnam Haike Manning made the statement at a press briefing in Quy Nhon city on April 10. He highly valued the effective implementation of New [...]

SBV to slash interest rates further to make loans approachable to businesses Posted: 11 Apr 2013 10:30 PM PDT Despite the successive interest rate reductions, the interest rates in Vietnam are still the highest in the region. Vietnam's interest rates higher than any others' Under the latest decision by the State Bank of Vietnam, the ceiling lending interest rate applied to 5 priority business sectors is 11 percent per annum, commencing from March 26. [...]

Chinese scramble for shrimps, crushing Vietnamese businessmen Posted: 11 Apr 2013 02:51 AM PDT The shrimp prices in Mekong Delta have been increasing rapidly, since Chinese have come to scramble for collecting shrimps with Vietnamese. Chinese commit frauds to compete with Vietnamese Nguyen Van Kich, General Director of Cafatex Group in Hau Giang province, a big shrimp cultivating area, has confirmed that since the beginning of the year, Chinese [...]

Footwear businesses receive orders until Q3 Posted: 11 Apr 2013 02:50 AM PDT The footwear sector plans to earn US$9.7 billion in export revenue this year, up 10 percent on 2012. The Vietnam Leather and Footwear Association (Lefaso) hopes that the sector's export orders will increase by 20 percent compared to the previous year. Orders from Japan is likely to rise sharply after the Tokyo Business Association sent [...]

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