Vietnam Business News

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• Small wood processors face shortage of capital
• Committees in charge of housing projects set up
• PM approves plan on environmental protection in craft villages
• Vietnam GDP likely to slow down to 4.8% in Q2/2013
• Vietnam to inspect state securities commission & gold market in Q2/Q3
• Vietnam biggest city cuts GDP growth target to 10%-10.5% in 2011- 2015
• Trade promotion programs lose flavor with firms
• Trade with Switzerland grows 11 percent
• The “cash king” and the multi-trillion dong takeover deals
• HCM City woos Brazilian investors

Small wood processors face shortage of capital Posted: 16 Apr 2013 06:30 PM PDT Capital shortages are hindering the operation of wood processing enterprises, especially those of small and medium sizes, experts have said. According to the Binh Duong Furniture Association, the loan interest rate remains high – making domestic enterprises less competitive. Although the rate has been reduced to 15 per cent per year, only 0.6 per cent [...]

Committees in charge of housing projects set up Posted: 16 Apr 2013 06:18 PM PDT HCM CITY – The People’s Committee of HCM City has recently established two committees at district and municipal levels in charge of the approval of future social housing projects. The People’s Committee said all applications for purchase and lease of social accommodation would be under the management of both committees to ensure compliance with the [...]

PM approves plan on environmental protection in craft villages Posted: 16 Apr 2013 06:15 PM PDT Prime Minister Nguyen Tan Dung has given the green light to a master plan on environmental protection in craft villages from now until 2030. According to the plan, environmental pollution will be comprehensively tackled in the 47 most seriously polluted craft villages nationwide in the next two years. The addressing of pollution there will also [...]

Vietnam GDP likely to slow down to 4.8% in Q2/2013 Posted: 16 Apr 2013 06:12 PM PDT Vietnam economy is projected to rise 4.8%in Q2/2013, lower than 4.89% seen in Q1, said the Ministry of Planning and Investment (MoPI) in a report. The lower outlook is based on the belief that global economic recovery is low, local difficulties such as slow-down in production are still there; and demand is unlikely to rise. [...]

Vietnam to inspect state securities commission & gold market in Q2/Q3 Posted: 16 Apr 2013 06:11 PM PDT Vietnam may inspect the State Securities Commission of Vietnam (SSC) and the local gold market in Q2 or Q3 this year, Le Tien Hao, deputy head of the government inspectorate was quoted by the newswire TTVN.vn as saying. Earlier, Ngo Van Khanh, another deputy head of the agency shared in a press conference in Q4 [...]

Vietnam biggest city cuts GDP growth target to 10%-10.5% in 2011- 2015 Posted: 16 Apr 2013 06:11 PM PDT Ho Chi Minh City, Vietnam's biggest city, has lowered its target of gross domestic product (GDP) growth for the 2011-2015 period to between 10% and 10.5% from the earlier projection of 12%. The city's revised target is still 1.5 times as much as the country's GDP goal for the same period, Secretary of the municipal [...]

Trade promotion programs lose flavor with firms Posted: 16 Apr 2013 06:10 PM PDT Trade promotion programs are considered an effective means to help firms increase exports amid the present economic slump, yet most firms are avoiding such programs. Many firms in the wood furniture industry have decided to participate in 'Life Style Vietnam 2013', a home décor, gift and household goods fair in Ho Chi Minh City, instead [...]

Trade with Switzerland grows 11 percent Posted: 16 Apr 2013 06:06 PM PDT Two-way trade between Vietnam and Switzerland rose 11 percent year on year, reaching US$167 million during the first two months of this year, has said Luong Manh Hung, Trade Counsellor at the Vietnamese Embassy in Switzerland. During the period, Vietnam exported US$122 million worth of goods to Switzerland, 14 percent more than last year, while [...]

The “cash king” and the multi-trillion dong takeover deals Posted: 16 Apr 2013 06:06 PM PDT The current economic difficulties have brought the golden opportunities to the big tycoons to crush their quarries. Spending money to buy businesses The 2012 audited finance report of Masan Group (MSN) showed that MSN bought Hoa Muoi Gio (HMG) single member Company Ltd and used it as an instrument to buy 40 percent of the [...]

HCM City woos Brazilian investors Posted: 16 Apr 2013 06:01 PM PDT Ho Chi Minh City hopes Brazilian investors will come and seek cooperation opportunities in the fields that the two sides are interested in, a municipal official has said. Vice Permanent Secretary of the Municipal Party Committee Nguyen Van Dua expressed the wish at the April 14 reception for a member of the Communist Party of [...]

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