Vietnam Business News

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• Vietnam central bank holds 4th auction for 26,000 gold taels on Apr 9
• Economist says bad debts make up 17% GDP in 2012
• Hanoi: Bad debts surges to 6.29%
• Vietnam increases 2013 rice export target to 8 million tons
• In the eyes of investors, it’s time to invest in hotels
• Express delivery race heats up when investors open the throttle
• PetroVietnam increases investment in Russia
• HCM City hosts Vietnam-France business forum
• Thua Thien – Hue lures investment to IZs
• April 8: Foreigners continue net buying on both HSX and HNX

Vietnam central bank holds 4th auction for 26,000 gold taels on Apr 9 Posted: 08 Apr 2013 08:25 PM PDT The State Bank of Vietnam (SBV) will hold another auction to sell 26,000 taels [approximately 1 ton] of gold bars today [April 9] at its central banking department, according to information released by the central bank. The central bank decided to set the reference price at VND43.39 million per tael, VND140,000/tael higher than in the [...]

Economist says bad debts make up 17% GDP in 2012 Posted: 08 Apr 2013 08:23 PM PDT Total bad debts, including rescheduled loans and restructured debts of Vinashin and Vinalines, may come up to half a million billion dongs or 17% of Vietnam's nominal gross domestic product in 2012. Total bad debts, including rescheduled loans and restructured debts of Vinashin and Vinalines, may come up to half a million billion dongs or [...]

Hanoi: Bad debts surges to 6.29% Posted: 08 Apr 2013 08:23 PM PDT Non-performing loans of banks in Hanoi, by the end of February this year, were estimated to climb to 6.29% of total outstanding credits, up 1.25% from last December, the Hanoi-based central bank branch's data showed. Earlier, the government portal Chinhphu.vn on Mar 20 quoted Vo Minh, director of the SBV branch in Danang as saying [...]

Vietnam increases 2013 rice export target to 8 million tons Posted: 08 Apr 2013 08:15 PM PDT The Vietnam government has increased the rice export target for 2013 by around 6% from 7.5 million tons to 8 million tons, according to local sources. Vietnam's rice exports have been strong this year, reaching around 1.45 million tons in the first quarter of 2013, up about 34% from the same period last year. The [...]

In the eyes of investors, it’s time to invest in hotels Posted: 08 Apr 2013 08:11 PM PDT Though the real estate market remains cool and the hotel business performance is getting worse, this is still an attractive business in the long term. According to Cao Thanh Hoang, General Director of KHM Capital, a South Korean investment fund, a lot of Japanese investors have shown their interest in hotel projects. Hoang went on [...]

Express delivery race heats up when investors open the throttle Posted: 08 Apr 2013 08:04 PM PDT The rapid growth in Vietnam's international trade has prompted investors to increase their investments postal services, express delivery and forwarding. UPS, the US partner in VNPost Express, one of the four biggest express delivery joint ventures in Vietnam, has become a 100 percent foreign invested enterprise after it bought 49 percent of stakes from the [...]

PetroVietnam increases investment in Russia Posted: 08 Apr 2013 08:00 PM PDT The Vietnam National Oil and Gas Group (PetroVietnam) increased its investment in a project at the Rusvietpetro joint venture company in Russia to US$1.4 billion in the first quarter of 2013. According to the Overseas Investment Department under the Ministry of Planning and Investment, by March 20, Vietnamese businesses had 742 overseas investment projects with [...]

HCM City hosts Vietnam-France business forum Posted: 08 Apr 2013 07:59 PM PDT Nearly 120 French businesses and their 500 Vietnamese counterparts gathered in HCM City to attend the Vietnam-France business forum, which opened on April 8. This large-scale economic and trade event aims to facilitate partnerships between businesses from both nations. Representatives from various companies focused their discussion on how to fully tap market potential, take advantage [...]

Thua Thien – Hue lures investment to IZs Posted: 08 Apr 2013 07:58 PM PDT The central province of Thua Thien – Hue has taken a number of measures to attract more investment to its industrial zones (IZs). Apart from speeding up site clearance, the province is accelerating administrative reforms, improving legal framework, and offering preferential policies. It is also helping investors build factories, and mobilize capital resources for infrastructure [...]

April 8: Foreigners continue net buying on both HSX and HNX Posted: 08 Apr 2013 02:11 AM PDT Foreigners were net buyers of Vietnamese shares on both the Hochiminh Stock Exchange and on the HNX today. These players net bought VND30.77 billion worth of shares on HOSE after buying 6.07 million shares for VND149.8 billion and selling 5.06 million units for VND119.1 billion, accounting for 15.82% buying value and 12.58% selling value. Foreigners' [...]

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