The Business Times: Vietnam gov”t set to stop formula makers from milking market for profits

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• Vietnam gov”t set to stop formula makers from milking market for profits
• Footwear exports to touch $8bln threshold this year
• Gov’t urged to equitize good SOEs to ease budget pressure
• Vietnam workers indifferent to minimum wage hike, employers fret
• Vietnam runs trade deficit with Laos
• Tra fish exports forecast at 1.8 billion USD
• VND will be devaluated, but when and how?
• Vinacomin posts 7.8mln coal inventory in 9m/2013
• Bad debts spell bad news for banks
• Oct 7: Vietnam gold inches up to vnd37.52mln/tael, dollar stable

Vietnam gov”t set to stop formula makers from milking market for profits Posted: 07 Oct 2013 01:30 AM PDT Since the Advertisement Law and Price Law regulating formula prices took effect this year, dairy firms have been giving formulas fancy descriptions to circumvent the laws Customers buy milk at a supermarket in Ho Chi Minh City. The finance ministry is set to crack down on companies arbitrarily hiking prices of milk products for children [...] The post Vietnam gov”t set to stop formula makers from milking market for profits appeared first on Vietnam Business News.

Footwear exports to touch $8bln threshold this year Posted: 07 Oct 2013 01:28 AM PDT Exports of footwear are expected to touch $8 billion threshold this year, the Government's portal Chinhphu.vn reported. In the first 9 months of the year, footwear exports are estimated to reach $6.07 billion, increasing 16.3% on year, the portal reported, forecasting that the sector's export values will surpass $8 billion threshold if at least one [...] The post Footwear exports to touch $8bln threshold this year appeared first on Vietnam Business News.

Gov’t urged to equitize good SOEs to ease budget pressure Posted: 07 Oct 2013 01:25 AM PDT HCMC – The Vietnam Association of Financial Investors (VAFI) has proposed the Government to equitize good State-owned enterprises (SOEs) as one of five measures suggested to ease pressure on the State Budget that is facing falling revenues. The proposal has been sent to the Prime Minister, relevant ministries and the National Assembly. The association said [...] The post Gov't urged to equitize good SOEs to ease budget pressure appeared first on Vietnam Business News.

Vietnam workers indifferent to minimum wage hike, employers fret Posted: 07 Oct 2013 01:23 AM PDT In the cramped kitchen of her tiny rented house, Nguyen Thu Ha, 32, a worker at Canon Vietnam, fumbles as she looks for a place to put a honeycomb-coal stove to replace her gas one. The new stove would help her cut energy costs by 30 percent a month, Ha said, and the government's plan [...] The post Vietnam workers indifferent to minimum wage hike, employers fret appeared first on Vietnam Business News.

Vietnam runs trade deficit with Laos Posted: 07 Oct 2013 01:21 AM PDT Vietnam shows a high deficit in trade exchanges with Laos, its close neigbouring country, according to the Vietnam Customs. Its exports to Laos over the past nine months reached US$329 million, up 12.3% against the same period last year, while imports fetched US$394.6 million, up 10.3%. Wood and timber products and metals and minerals were [...] The post Vietnam runs trade deficit with Laos appeared first on Vietnam Business News.

Tra fish exports forecast at 1.8 billion USD Posted: 07 Oct 2013 12:35 AM PDT Exports of tra fish are expected to reach around 1.8 billion USD due to high demand from export market, according to the Ministry of Agriculture and Rural Development. Despite a hike in the price of the fish, many local businesses succeeded in signing a number of contracts to ship abroad until the end of this [...] The post Tra fish exports forecast at 1.8 billion USD appeared first on Vietnam Business News.

VND will be devaluated, but when and how? Posted: 07 Oct 2013 12:34 AM PDT Vietnam considers devaluating the dong in an effort to boost the export after a long period of keeping the dong/dollar exchange rate stable. Answering the US Bloomberg's interview recently, Prime Minister Nguyen Tan Dung said Vietnam plans to devaluate the dong by 2 percent at maximum from now to the end of the year. The [...] The post VND will be devaluated, but when and how? appeared first on Vietnam Business News.

Vinacomin posts 7.8mln coal inventory in 9m/2013 Posted: 07 Oct 2013 12:32 AM PDT The Vietnam National Coal – Mineral Industries Holding Corporation Limited (Vinacomin) posted 7.8 million tons of coal inventory in the first 9 months of this year. The information was disclosed by Le Minh Chuan-Chief Executive Officer (CEO) of Vinacomin at the Vinacomin's conference on production management in Jan- Sep period. In the period, the coal [...] The post Vinacomin posts 7.8mln coal inventory in 9m/2013 appeared first on Vietnam Business News.

Bad debts spell bad news for banks Posted: 07 Oct 2013 12:20 AM PDT There has been much discussion lately about non performing loans (NPL) and whether or not Vietnam has the expertise to help with what is a critical issue for the banking sector and the property market. Leon Cheneval, associate director and senior NPL consultant from CBRE Vietnam expressed his thoughts to VIR on this issue. The [...] The post Bad debts spell bad news for banks appeared first on Vietnam Business News.

Oct 7: Vietnam gold inches up to vnd37.52mln/tael, dollar stable Posted: 06 Oct 2013 08:38 PM PDT This morning Vietnam gold was traded slightly up by VND80,000/tael versus last weekend to VND37.52 million/tael, following the world suit. Hochiminh was traded at VND37.37 million/tael for bid and VND37.52 million/tael for ask respectively as of 10:10 am, Hanoi time. SJC in the North quoted at VND37.37 million/tael for bid and VND37.52 million/tael for ask. [...] The post Oct 7: Vietnam gold inches up to vnd37.52mln/tael, dollar stable appeared first on Vietnam Business News.

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