Wednesday, April 24, 2013

Vietnam Business News

Vietnam Business News

Land Law still a hot topic in National Assembly talks

Posted: 23 Apr 2013 10:43 PM PDT

Regulations on reclaiming land, in the proposed revised Land Law, were among the hottest issues debated at the National Assembly Standing Committee meeting last week. According to chairman of the National Assembly's (NA) Economic Committee Nguyen Van Giau, the committee's members were divided over the issue of land reclaimation. "Many NA delegates have supported the regulation [...]

FPT dials in unflattering 2012 results

Posted: 23 Apr 2013 10:41 PM PDT

FPT Group, one of Vietnam's leading telecom carriers, suffered unhealthy business results in 2012. Despite a 15 per cent downward adjustment to its profit plan for 2012, its profit only made up 92 per cent of its results in 2011. According to report to submit the shareholders meeting early April, the group reached revenue and [...]

No one is “free” as Vietnamese farmers are

Posted: 23 Apr 2013 10:39 PM PDT

Changing crops very offent and being disorganized is a vicious cycle that erodes the strength and capital of farmer families, said Prof. Vo Tong Xuan. Prof. Xuan remarked: "nowhere in this world are farmers are "free" as in Vietnam. It is good to be free but freedom does not mean unorganized so the freedom of [...]

Gold exchange needed to narrow price gap

Posted: 23 Apr 2013 10:37 PM PDT

Vietnam should establish a national gold exchange to narrow the difference in domestic and international prices of the precious metal, experts said. They were attending a conference organized by the Business Studies and Assistance Centre in HCM City on April 23. Tran Thanh Hai, chief executive officer of the Vietnam Gold Business Investors' Companion, said [...]

Samsung set to increase investment in Vietnam

Posted: 23 Apr 2013 10:35 PM PDT

Samsung is planning to invest in Vietnam's infrastructure construction and chemical production. Shim Won Hwan, General Director of Samsung Vietnam, told Deputy Minister of Industry and Trade Nguyen Cam Tu at a recent meeting that there are many opportunities for cooperation in those areas. Samsung has built a factory in Bac Ninh province, and expects [...]

IMF: Vietnam’s macroeconomics on right track

Posted: 23 Apr 2013 10:33 PM PDT

Vietnam's macroeconomics is on the right track, said Alfred Schipke, head of an International Monetary Fund (IMF) team reviewing macroeconomic and structural policies. Inflation has fallen, economic growth is at a reasonable rate and foreign currency reserves have increased, said Schipke at a meeting with Deputy Prime Minister Vu Van Ninh in Hanoi on April [...]

Viglacera to expand market in Russia

Posted: 23 Apr 2013 10:00 PM PDT

The Vietnam Glass and Ceramics Corporation (Viglacera) plans to seek its counterparts and expand operations in Russia. The corporation wants to promote sales of its major products such as sanitaryware, Granite tiles, ceramics, and high-quality tiles and bricks in Russia, says Nguyen Quang Vinh, a Viglacera representative. Vinh said Russia has been a regular consumer [...]

Solutions for Vietnam cement industry

Posted: 23 Apr 2013 06:54 PM PDT

In the past 10 years, the cement industry in Vietnam has increasingly shown its weaknesses of oversupply, low investment efficiency and business losses. By this time, the cement excess has reached 20 million tonnes. The majority of businesses in the cement industry, including the Vietnam Cement Corporation, are facing large losses. Promoting foreign investment into [...]

SBV stalls asset regulations as companies feel the pinch

Posted: 23 Apr 2013 06:51 PM PDT

HA NOI— Governor of the State Bank of Viet Nam Nguyen Van Binh temporarily delayed the application of a circular on asset classification in a move to help enterprises access credit in the context of continued economic hardships. Currently 5-6 per cent of loans are non-performing loans (NPLs). If the circular went into effect as [...]

Lotte cherishes ambitious business plan in Vietnam

Posted: 23 Apr 2013 05:00 PM PDT

The merger and acquisition (M&A) deals Lotte concluded recently shows its ambitious investment plan in Vietnam. Right after wrapping up the deal of buying the Kotobuki's 70 percent capital contribution in the Hai Thanh – Kotobuki joint venture, Hotels & Resorts Lotte, a subsidiary of Lotte group, has immediately added "Lotte" into the hotel, changing [...]
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