Vietnam Business News

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• Time to spend to bolster development
• Ho Chi Minh City: Total lending picks up 0.26% in Jan-Mar
• Vietnam EVN electricity sales rise 23.87% on year in Q1/2013
• Vietnam removes 9 cement projects
• Ministry tightens controls over farm produce imports
• April 5: Vietnam central bank sets dollar unchanged at vnd20,828; black market rates rise
• Vietnamese always at a disadvantage when doing business with Chinese
• Vietnam obtains trade surplus with Malaysia
• Vietnam government approves restructuring plans of 34 state corporations
• Vietnam, Australia tap trade potentials

Time to spend to bolster development Posted: 05 Apr 2013 07:41 PM PDT Deputy head of the Ministry of Planning and Investment's Central Institute for Economic Management Tran Kim Chung highlights the need to scale-up capital disbursement, particularly that of public investment, to spur economic development. Slow investment, particularly in the state economic sector, has attributed to the country's low gross domestic product (GDP) growth of 4.89 per [...]

Ho Chi Minh City: Total lending picks up 0.26% in Jan-Mar Posted: 05 Apr 2013 07:35 PM PDT Total outstanding loans in Ho Chi Minh City by the end of March this year, are estimated at VND857.7 trillion, up 0.26% from last December and 0.81% from the end of Feb 2012, said To Duy Lam, director of the central bank branch in the city. Outstanding credits to five prioritized sectors, as of March [...]

Vietnam EVN electricity sales rise 23.87% on year in Q1/2013 Posted: 05 Apr 2013 07:26 PM PDT The Electricity of Vietnam (EVN) is estimated to have generated VND37.609 trillion from electricity sales in Q1/2013, up 23.87% on year, report says. In March, EVN booked VND13 trillion electricity sales, up 23.09% on year. In the first quarter, manufacturing output and purchasing power of EVN were estimated at 29 billion kWh, an increase of 9.93% over the same period in 2012. In March, EVN's electricity production and purchasing reached 10.9 billion kWh, of which 37.6%  was produced, Electricity investment of the power sector in [...]

Vietnam removes 9 cement projects Posted: 05 Apr 2013 07:26 PM PDT Vietnam's Prime Minister has approved removal of 9 cement projects with capacity of under 2,500 tons of clinker a day from the master plan. These projects are: Ha Tien – Kien Giang, Truong Son – Ro Li, The Son, Ngoc Ha, VINAFUJI Lao Cai, Thanh Truong, Son Duong, Quang Minh, Cao Bang. At the same time, [...]

Ministry tightens controls over farm produce imports Posted: 05 Apr 2013 07:22 PM PDT Agriculture Minister Cao Duc Phat has called for stricter control over farm produce imports, particularly their origin, to ensure all the goods meet food safety standards. Concerning the quality of local farm produce, the minister instructed relevant agencies to adopt drastic measures to ensure food safety and hygiene at all stages. He noted at an [...]

April 5: Vietnam central bank sets dollar unchanged at vnd20,828; black market rates rise Posted: 05 Apr 2013 07:18 PM PDT The State Bank of Vietnam, the country's central bank today set the exchange rate for the U.S. dollar at VND20,828, unchanged for 15 months, free market rates rose VND20 while bank rates were weaker. Banks are allowed to trade dollar at +/-1% from central bank quote and the ceiling price for dollar is currently at [...]

Vietnamese always at a disadvantage when doing business with Chinese Posted: 05 Apr 2013 07:18 PM PDT China has always been gaining the upper hand in doing business with Vietnam. Experts believe that Vietnam has been yielding to the big foreign partner on many issues. China remains the No. 1 trade partner for Vietnam. A report of the Vietnam Chamber of Commerce and Industry (VCCI) showed that the two-way trade turnover in [...]

Vietnam obtains trade surplus with Malaysia Posted: 05 Apr 2013 07:18 PM PDT Two-way trade turnover between Vietnam and Malaysia hit US$1.466 billion in the first two months of this year, of which US$781.7 million came from Vietnamese exports. Vietnam imported Malaysian goods worth US$685.07 million—mostly petrol, chemicals, plastics, and animal fat—and thus enjoyed a trade surplus of US$96.6 million. Key exports to the Malaysian market included crude [...]

Vietnam government approves restructuring plans of 34 state corporations Posted: 05 Apr 2013 07:14 PM PDT As of March 18, 2013, Vietnam government has approved restructuring plans of 34 state corporation out of 52 corporation which submitted restructuring plans the Ministry of Finance said. Also, restructuring plans of 20 out of 86 local corporations have been approved. In 2013, the Ministry of Finance will continue to boost restructuring, rearranging and privatizing [...]

Vietnam, Australia tap trade potentials Posted: 05 Apr 2013 07:10 PM PDT The Australia–Vietnam Business Council (AVBC) held a get-together in Sydney on April 4 to further bolster trade links between the two countries. Addressing the event, which is part of activities to mark the 40th anniversary of Vietnam–Australia diplomat ties, Vietnamese Ambassador to Australia Hoang Vinh Thanh affirmed that the two countries will continue reaping successes, [...]

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