Sunday, April 7, 2013

Vietnam Business News

Vietnam Business News

PVN says facing challenges in Venezuela

Posted: 06 Apr 2013 06:13 PM PDT

The Vietnam National Oil and Gas Group, commonly known as PetroVietnam or PVN, is facing a number of challenges in its Venezuela investment, the state-run oil and gas giant said at a briefing on Friday. New issues have arisen at the Junin 2 – Venezuela block, which is PVN's largest outbound investment, costing an enormous [...]

Rosy outlook for garment trade

Posted: 06 Apr 2013 06:13 PM PDT

Ha NOI — The goal of 12-15 per cent export growth rate for the garment and textile industry this year is achievable, fetching between US$18.8-19.3 billion. According to the Viet Nam Textile and Apparel Association (Vitas), the garment export value hit $4.2 billion in the first quarter of this year, a rise of 16 per [...]

Vietnam contributes to 2013 OECD forum

Posted: 06 Apr 2013 06:08 PM PDT

International delegates have praised Vietnam's contributions to and effective cooperation with the Organisation for Economic Co-operation and Development (OECD). During the OECD global forum in Paris on April 4-5, participants held dialogues with government officials from non-OECD member countries and representatives of the private sector and civil societies. Featuring the theme "Creative Approaches to Poverty [...]

Private entrepreneurs association debuts

Posted: 06 Apr 2013 06:07 PM PDT

Vietnam's private entrepreneurs association was established at a congress in Hanoi on April 6. The organisation aims to support businesses in improving operational efficiency, sharpening their competitive edge, and expanding overseas markets. Top priority will be given to broadening partnerships to develop a contingent of entrepreneurs that have competent managerial skills, professional ethics, and corporate [...]

French Trade Minister to visit Vietnam

Posted: 06 Apr 2013 06:07 PM PDT

French Minister for Foreign Trade Nicole Bricq will visit Vietnam from April 7-9 to strengthen trade ties between the two countries. A French Ministry for Foreign Trade communiqué dated April 5 noted that Southeast Asia is included in the Ministry's priority policy, and Vietnam will be one of Bricq's stopovers during her Southeast Asian tour, [...]

RoK aids Mekong Delta highway project

Posted: 06 Apr 2013 06:05 PM PDT

The Republic of Korea (RoK) has pledged a US$200 million loan to help Vietnam implement a  highway project in the Mekong Delta region. The Lo Te-Rach Soi highway will be built in southern Can Tho and Kien Giang provinces, connecting to the Vam Cong bridge and southern coastal belt. An agreement to this effect was [...]

Measures by banking system to put VN economy back on the ground

Posted: 06 Apr 2013 02:38 AM PDT

State Bank of Vietnam Governor Nguyen Van Binh assured that inflation this year is lower than last year, although there are many factors that inflation is likely to rise again. He made this comment at a conference on implementing the bank’s monetary measures to promote and support economic- social development co organized by the HCMC [...]

New business numbers fall in first quarter

Posted: 06 Apr 2013 02:25 AM PDT

A total of 15,707 new enterprises with total registered capital of nearly VND79.39 trillion (US$3.78 billion) were established in the first quarter of the year, according to the Ministry of Planning and Investment. The registered capital in the first quarter dropped 16.1 per cent compared to the same period last year, while the number of [...]

Economic restructuring still slow going

Posted: 06 Apr 2013 02:24 AM PDT

The national economy has grappled with numerous challenges in the five years since Vietnam joined the World Trade Organisation (WTO) in 2007. Unsteady growth A Central Institute for Economic Management (CIEM) report showed that annual economic growth averaged 6.5 percent between 2007–2011, much lower than the 7.8 percent figure recorded between 2002–2006 and also far [...]

Property M&A deals likely to boom in vietnam this year: Insider

Posted: 06 Apr 2013 02:17 AM PDT

Merger and acquisition (M&A) activities in Vietnam's real estate sector are likely to be hot this year with a large number of deals, experts expected. Luong Tri Thin, chairman of Dat Xanh Real Estate Service & Construction Corporation, commented that 2013 will become a "historical year" of M&A in the property sector as both domestic [...]
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