The Business Times: Toyota Vietnam CEO elected VAMA Chair

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• Toyota Vietnam CEO elected VAMA Chair
• International investors hunt high and low for land in HCM City
• What are the effects of overseas remittances on the Vietnamese economy?
• Central bank takes over ailing VNCB
• Trade minister: Local firms still dominate retail market
• SSC mulls more room for foreign investors
• Kien Giang to have more hotel rooms for tourists
• Hala Abu Dhabi teams up with local travel firms
• Nguyen Kim targets over 50 stores
• HSBC: Output and new order growth slows

Toyota Vietnam CEO elected VAMA Chair Posted: 03 Feb 2015 11:23 PM PST The Chief Executive Officer (CEO) of Toyota Vietnam has replaced Ford Vietnam's CEO to assume the chairmanship of the Vietnam Automobile Manufacturers Association (VAMA) as of January 30, according to VAMA's announcement. Accordingly, Mr. Yoshihisa Maruta will hold the position for the term 2015-2017, replacing Mr. Jesus Metelo N. Arias Jr, who is now the […] The post Toyota Vietnam CEO elected VAMA Chair appeared first on Vietnam Business News.

International investors hunt high and low for land in HCM City Posted: 03 Feb 2015 11:23 PM PST Foreign investment funds and real estate developers have been looking for cleared land to purchase as the property market is expected to heat up in 2015. A Luxembourg-based investment fund, for example, has been looking for land plots in districts 8, 9, Thu Duc, Binh Tan, Tan Phu and Nha Be. Its Vietnamese partners said […] The post International investors hunt high and low for land in HCM City appeared first on Vietnam Business News.

What are the effects of overseas remittances on the Vietnamese economy? Posted: 03 Feb 2015 11:16 PM PST If Vietnam uses overseas remittances to its benefit, they could be a powerful driver in the development of the national economy. Conversely, the economy could be put under pressure if they are not deployed effectively. A recently released report by the Central Institute of Economic Management (CIEM) shows that Vietnam has received $90 billion worth […] The post What are the effects of overseas remittances on the Vietnamese economy? appeared first on Vietnam Business News.

Central bank takes over ailing VNCB Posted: 03 Feb 2015 11:13 PM PST The State Bank of Vietnam (SBV) has announced a decision buying all shares of Vietnam Construction Bank (VNCB) at VND0 each, and thus becoming the only owner of this ailing commercial bank. Shareholders of VNCB convened at an extraordinary general meeting in Long An Province last Saturday to review the independent audit of its financial […] The post Central bank takes over ailing VNCB appeared first on Vietnam Business News.

Trade minister: Local firms still dominate retail market Posted: 03 Feb 2015 11:12 PM PST Minister of Industry and Trade Vu Huy Hoang said domestic enterprises now hold 97% local retail and wholesale market share though Vietnam opened its doors to goods imports from the Association of Southeast Asian Nations (ASEAN) decades ago. Hoang said he believes domestic firms will be able to compete with counterparts from other ASEAN countries […] The post Trade minister: Local firms still dominate retail market appeared first on Vietnam Business News.

SSC mulls more room for foreign investors Posted: 03 Feb 2015 11:10 PM PST The State Securities Commission (SSC) is revising Decree 58/2012 guiding the Securities Law to increase the foreign ownership limit at listed enterprises, especially at the firms where the State holds no controlling stakes. SSC chairman Vu Bang said at a review conference on the stock market development in Hanoi on February 2 that if the […] The post SSC mulls more room for foreign investors appeared first on Vietnam Business News.

Kien Giang to have more hotel rooms for tourists Posted: 03 Feb 2015 11:09 PM PST The Department of Culture, Sports and Tourism of Kien Giang Province said many more hotels will be put into service to meet the surging demand of tourists flocking to destinations in the Mekong Delta province. Nguyen Van Sau, deputy director of the department, said the number of hotel rooms is forecast to reach 7,750 rooms […] The post Kien Giang to have more hotel rooms for tourists appeared first on Vietnam Business News.

Hala Abu Dhabi teams up with local travel firms Posted: 03 Feb 2015 11:09 PM PST Vietnamese passengers will get multiple benefits when visiting Abu Dhabi City in the United Arab Emirates (UAE) as Hala Abu Dhabi, the destination management arm of Etihad Airways, has begun joining forces with travel agencies in Vietnam. Etihad Airways said in a statement that its business unit has clinched cooperation deals with Vietravel, PTG Travel, […] The post Hala Abu Dhabi teams up with local travel firms appeared first on Vietnam Business News.

Nguyen Kim targets over 50 stores Posted: 03 Feb 2015 11:07 PM PST Nguyen Kim Trading Joint Stock Co. has unveiled its business strategy to operate more than 50 electronics outlets across the country in 2019 after the local company agreed to sell a 49% stake to Power Buy under Thailand's Central Group. Currently, 21 Nguyen Kim electronics stores in the country mainly sell home appliances. The company […] The post Nguyen Kim targets over 50 stores appeared first on Vietnam Business News.

HSBC: Output and new order growth slows Posted: 03 Feb 2015 11:07 PM PST Both output and new orders continued to rise at the start of 2015 but at lower rates than in December, HSBC Bank said in a Purchasing Managers' Index (PMI) report released yesterday. Improving client demand was behind the rise in new work and lead firms to increase production. New export orders, meanwhile, rose only slightly […] The post HSBC: Output and new order growth slows appeared first on Vietnam Business News.

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