Vietnam Business News

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• Gold appetite still runs wild at home
• Interbank trading dong +26%, dollar -17.8% in week ending Apr 12
• Thanh Hoa attracts more investment from RoK businesses
• Singapore, Vietnam boost service cooperation
• Bilateral trade with India up 40.2pct
• Vietnam-Singapore Business Forum 2013
• Few takers for high-grade rice
• Big ports in the south sinking deeply
• Vietnam considers lowering VAT to bring businesses up
• Vietnam three-year bond yield falls to 2007 low on rate-cut bets

Gold appetite still runs wild at home Posted: 17 Apr 2013 09:17 PM PDT Gold prices bounced back close to the closing price on Monday in the local market on Wednesday, with no steep price falls as seen on Tuesday morning, but buyers still rushed to gold trading companies to grasp the yellow metal. Saigon Jewelry Holding Co. (SJC) on Wednesday posted the price at VND41 million a tael [...]

Interbank trading dong +26%, dollar -17.8% in week ending Apr 12 Posted: 17 Apr 2013 08:41 PM PDT The total interbank trading value of the dong surged 26% to VND95.511 trillion in the week ending Apr 12 from VND75.783 trillion a week earlier while that of the dollar plunged 17.8% to VND51.274 trillion from VND62.395 trillion. The total interbank trading value of the dong surged 26% to VND95.511 trillion in the week ending [...]

Thanh Hoa attracts more investment from RoK businesses Posted: 17 Apr 2013 08:38 PM PDT The central province of Thanh Hoa is ready to create favourable conditions for them to invest in the locality.    Trinh Van Chien Chairman of the provincial People's Committee was speaking at a conference in Thanh Hoa city on April 16 to promote investment and trade with RoK businesses. The province will continue improving its [...]

Singapore, Vietnam boost service cooperation Posted: 17 Apr 2013 08:33 PM PDT Singapore wants to have fruitful service cooperation with Vietnam and Ho Chi Minh City, in particular. Singaporean Minister of Trade and Industry Lim Hgn Kiang was speaking at the meeting with the city's leaders on April 16. Kiang said Singapore is ready to cooperate with Vietnam in the fields of finance and banking, logistics, retail [...]

Bilateral trade with India up 40.2pct Posted: 17 Apr 2013 08:31 PM PDT Two-way trade between Vietnam and India reached US$1.3 billion in the first quarter of the year, up 40.2 percent on the same period last year. Of the figure, exports to India accounted for US$533 million, up 59.3 percent, while imports contributed US$774 million, up 29.5 percent. Nguyen Son Ha, Vietnam's trade counselor to India, quoted [...]

Vietnam-Singapore Business Forum 2013 Posted: 17 Apr 2013 08:28 PM PDT Vietnamese and Singaporean businesses are discussing the possibility of cooperation in finance, property, medical services, tourism, and logistics, at a joint forum in HCM City from April 17-19. Leading experts, lawmakers and business leaders will present opinions on investment and business opportunities to assist the two business circles to seek out new partnerships. A range [...]

Few takers for high-grade rice Posted: 17 Apr 2013 08:19 PM PDT Farmers in the Mekong Delta complain there is not much demand for their high-quality winter-spring paddy this year. They were instructed (by authorities) to grow low-quality paddy on only 15-20 per cent of the total area under rice. But it has become difficult for them to sell the high-quality varieties since traders prefer low-quality ones. [...]

Big ports in the south sinking deeply Posted: 17 Apr 2013 08:17 PM PDT All the three ports SP-PSA, TCCT and SITV have reported the sharp falls in the yield which is much lower than the designed capacity. "Ports are getting very cheap because they are unable to find customers. The fee for 50-year leasing plus the unused land is VND10,000 per square meter only,said Tuoi, a broker of [...]

Vietnam considers lowering VAT to bring businesses up Posted: 17 Apr 2013 08:14 PM PDT The Ministry of Finance is drafting the amended VAT law to be submitted to the National Assembly for ratification in the upcoming National Assembly's 5th session. Under the draft, more products would be subject to the 5 percent tax instead of the current rate of 10 percent. Businesses not only want the corporate income tax [...]

Vietnam three-year bond yield falls to 2007 low on rate-cut bets Posted: 17 Apr 2013 08:12 PM PDT Vietnam's bonds rose, pushing the three-year yield to the lowest level since 2007, on speculation slower inflation will give the central bank room to cut interest rates to support the economy. The dong gained. The State Bank of Vietnam, which lowered its refinance rate by 1 percentage point to 8 percent last month, may reduce [...]

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