Vietnam Business News 
Vietnam Stocks Poised for Worst Week in a Year on Policy Concern
Vietnam’s stocks fell on Friday, capping the worst weekly loss in a year, as investors considered this year’s rally overdone amid concern that monetary policy easing may fail to spur growth. The Ho Chi Minh City Stock Exchange’s VN Index declined for an eighth straight day, dropping 1.7 percent to 434.95 at the close. The [...]
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Cotton May Be Traded on Vietnam Commodity Exchange
Vietnam’s Ministry of Industry and Trade (MoIT) has proposed that cotton fibre may be listed for trade on the Vietnam Commodity Exchange (VNX). Trading on VNX would reduce price speculation of the commodity, as prices would be based on transparent supply and demand situation. It would also establish a link between the Vietnamese domestic market and international market, said participants in a seminar held in HCM City. The seminar was organized by MoIT’s Domestic Market Department in association with EU-Vietnam Multilateral Trade Assistance Project III. Garments and textiles constitute a major portion of Vietnam’s exports, but the domestic production…
Full Story»Survey Finds PC Software Piracy in Vietnam Costs $395 Mln
Vietnam recorded a PC software piracy rate of 81 percent in 2011, costing the big business interests that control the computer industry US$395 million in commercial value, according to an international study released in Hanoi on Thursday. The rate decreased by two percent compared to the previous year, and the value was down by four [...]
Full Story»Vietinbank bonds sell well on Singapore Exchange
The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) successfully sold out its international bonds worth US$250 million on the Singapore Exchange (SXG) on May 18…
Full Story»TVS says error in transaction wasn’t costly
Thien Viet Securities Co (TVS) did not incur any financial losses resulting from the purchase of over 6.4 million shares in HCM City Infrastructure and Investment (CII), TVS General Director Tran Quoc Tuan has said. In a letter sent to its shareholders on Thursday, Tuan said in the first half of this year, TVS successfully consulted a major shareholder of CII to transfer a large amount of CII shares to a foreign investor. However, on May 10, due to an error in executing a transaction, over 6.4 million CII shares, which should have been transferred to the foreign investor’s account, mistakenly arrived in…
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European businesses in Vietnam ‘still wary’
Business confidence and outlook among European businesses in Vietnam has remained consistently near “neutral” for the third straight quarter, a quarterly survey by EuroCham shows. The EuroCham Business Climate Index for April/May 2012 released on May 19 fell by three points to 53. European businesses that took part in the survey continued to be cautious about their business outlook and in assessing their current situation as well as the overall economic outlook in Vietnam . Of them, 44 percent are in the services industry, 28 percent in manufacturing, 20 percent in trading, and the rest in others…
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Vietnam’s fisheries sector sets target for 2012
Vietnam ’s fisheries sector will increase its fish farms to 1.2 million hectares, producing as much as 4.5 million tons a year and reaching an annual average growth rate of 5.2 percent by 2020. The plan was announced at a conference on development plans for aquaculture for 2020, with a vision to 2030”, held by the General Department of Fisheries, in Hanoi on May 18. The sector also set a target of earning an annual export revenue of between US$7 to $7.5 billion, a rise of…
Full Story»Vietnam inks rare earth agreement with Japan
A memorandum of understanding (MoU) on mining and processing rare earth in northern Lai Chau province’s Tam Duong district was signed with Japan on May 17. Lai Chau-VIMICO Rare Earth Joint Stock Co and the Japanese Dong Pao Rare Earth Development Co have agreed to join hands through two phases of the project. The first phase is to research and set up a mine with a capacity of 10,000 tonnes a year. The second phase is to negotiate over the establishment of a Vietnam-Japan joint venture with charter capital of at least 30 percent of the project’s total investment value. Lai…
Full Story»Vietnam seafood exports to Europe plunge sharply
Given the persistent debt woes in Europe, many local seafood exporters have seen their exports to this key aquatic product market of the country spiraling into slump. Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said now he considers the European market the “black point” of the local seafood industry. Tran Van Hau, managing director of Hung Ca Company in Dong Thap Province, noted multiple exporters have had no choice but to cut the volume of shipments to Europe. “The European negative economic outlooks have resulted in the stagnant export activities of the…
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