Vietnam Business News

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• To whom does the gold go?
• 4,982 enterprises in HCM City shut down in Q1/2013: GSO
• Vietnam trade deficit reaches $722M in Jan-Apr: GSO
• EWEC 2013 Fair to be held in Danang city
• Is Vietnamese labor cost high or low?
• Ninh Thuan seeks Japanese investment
• Banks pay modest dividends as profits shrink
• Banks continue to hedge bets when it comes to profits
• Vietnam central bank to auction 26,000 gold taels on Apr 26
• Dolphin Plaza wins first prize at 2012 National Architecture Awards

To whom does the gold go? Posted: 25 Apr 2013 06:45 PM PDT As many as 12 tons of gold bullion have been sold through bidding sessions held by the State Bank of Vietnam over the last month, but domestic gold prices remain way higher than their global counterparts. So where did the gold go? The SBV organized the first bidding session for gold bullion on March 28 [...]

4,982 enterprises in HCM City shut down in Q1/2013: GSO Posted: 25 Apr 2013 06:41 PM PDT Ho Chi Minh city saw 4,982 enterprise closed down in the first 3 months of this year, equal to 63.8% of the newly registered ones, said the municipal General Statistics Office. In March alone, as many as 1,484 enterprises had to shut down, up 56% from February but down 52% from January. The GSO also [...]

Vietnam trade deficit reaches $722M in Jan-Apr: GSO Posted: 25 Apr 2013 06:38 PM PDT Vietnam swung to a trade deficit of $722 million in the first four months of this year, accounting for 1.8% of the country's total exports during the period, the General Statistics Office said. Jan-April trade deficit this year snapped the positive result gained last year when the country booked a trade surplus of $320 million [...]

EWEC 2013 Fair to be held in Danang city Posted: 25 Apr 2013 06:38 PM PDT The East-West Economic Corridor (EWEC) Trade and Tourism Fair 2013 will be held at the Danang Exhibition Centre from August 9-13. As many as 500 stalls will be set up by domestic and foreign businesses, mostly from Vietnam, Laos, Thailand, Myanmar, Japan, China, Singapore and the US to display different kinds of products related to the real estate, [...]

Is Vietnamese labor cost high or low? Posted: 25 Apr 2013 06:35 PM PDT Office workers, unskilled laborers and state employees all complain that their salaries are so modest and cannot cover their basic needs. Workers like… extra working hours According to Oxfarm, the organization that strives for the poverty reduction and fight for equality, Vietnam is not the only country in the world which has the low minimum [...]

Ninh Thuan seeks Japanese investment Posted: 25 Apr 2013 06:24 PM PDT The south-central province of Ninh Thuan has pledged to prioritise, offer assistance to, and consider the requests of any Japanese businesses investing in the locality. Ninh Thuan Provincial People's Committee Chairman Nguyen Duc Thanh confirmed the commitment at a conference in Hanoi on April 25. Ninh Thuan is currently home to 22 projects sponsored by [...]

Banks pay modest dividends as profits shrink Posted: 25 Apr 2013 04:24 AM PDT With profits slumping due to bad debts and a huge amount of loan loss provisions, many banks have paid their shareholders modest dividends out of poor 2012 business results. Around ten banks have held their annual shareholder meetings, during which time attendees were shocked to learn of the poor dividends they were to receive. Sacombank [...]

Banks continue to hedge bets when it comes to profits Posted: 25 Apr 2013 04:24 AM PDT Banks are not optimistic on projecting their year-plan profits as the current economic situation remains uncertain for the finance industry. About 18 banks, including large and small-scaled ones, are holding annual general shareholder meetings (AGM) this week, with modest profit expectations for 2013. Specifically, giant state-run Vietcombank envisions profit growth of only 0.6 per cent [...]

Vietnam central bank to auction 26,000 gold taels on Apr 26 Posted: 25 Apr 2013 04:24 AM PDT The State Bank of Vietnam (SBV) will hold an auction to sell 26,000 taels of gold bars tomorrow [April 26] as it struggles to stabilize the market, according to information released by the central bank. The central bank decided to set the reference price at VND41.15 million per tael, down from VND41.85 million per tael [...]

Dolphin Plaza wins first prize at 2012 National Architecture Awards Posted: 25 Apr 2013 04:16 AM PDT HA NOI – The Dolphin Plaza building in Tu Liem, a district in the outskirts of Ha Noi, won first prize in the 2012 Viet Nam National Architecture Awards – marking the first victory by a luxury apartment complex. Designed by architect Tan Jiann Woei, the 28-storey condominium complex won praise from the jury for [...]

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