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Securities Companies In Vietnam Trying to Brave Storm

Up to 56 out of over 100 securities companies in Vietnam reported losses in the third quarter of 2012. Securities brokerage houses suffered a combined net loss of VND212 billion but the earnings reached VND1,100 billion in the first nine months. Many have to restructure to survive in the raging storm. Total revenues of 100 securities companies grossed VND2,107 billion in the third quarter, totaling VND7,864 billion in the three quarters. They suffered from a combined loss of VND212 billion in the third quarter but still earned VND1,100 billion of profits in the January - September period...

M&A: Which Are Big Fish And Little Fish In Vietnam?

In recent years, the slang term "big fish eats little fish" is commonly used among the Vietnamese business community and media. The big fish mostly referred to are foreign companies while the little fish denotes a domestic enterprise. However, that is not everything. In that seemingly unequal battle for market share, there are still Vietnamese […]

Vietnam Exporters Become The Victims Of Nasty Tricks In Foreign Markets

VietNamNet Bridge – Export companies have complained that the situation has become increasingly strained towards the end of the year. Importers would be ready to play nasty tricks to control the import prices. Too many kinds of tricks to play It is now more difficult than ever to export products. Exporters not only have to move heaven and earth to borrow capital, arrange material import deals, but also think about how to deal with the tricks played by importers to disturb the export. Nguyen Van Dao, General Director of Go Dang Company, related that importers would send small groups of...

Vietnam: Investor mood remains gloomy: survey

HCM CITY (VNS)— Private-equity investors' negative sentiments about the next 12 months has risen about 100 per cent over survey results in the second quarter, according to auditing and consulting firm Grant Thornton. The survey showed that the results were at about the same level of the 2011 fourth quarter, which at the time was the most pessimistic outlook of the last eight surveys conducted by the company. The Grant Thornton Private Equity in Viet Nam – Investment Sentiment and Outlook survey, carried out in October and released yesterday, showed that investment attractiveness, as a result of...

Manulife Vietnam goes the extra yard

Manulife Vietnam, the first 100 per cent foreign-owned life insurance company licensed in Vietnam, has opened its new customer service office at Maritime Bank Building’s in HCM City’s District 1 last week. The new office, designed to offer customers more convenient and better service, covers a total area of 1,470 square metres. It supplements the […]

Vietnam Meat Imports Could Rise For Tet

HCM CITY (VNS)— The livestock industry is seeking ways to ensure a sufficient volume of meat for next year's Tet (Lunar New Year) holiday, as stock has fallen this year, according to the Livestock Department. Since April, the livestock industry has faced several difficulties, forcing many farmers out of business. The price of animal feed has continued to rise, but meat prices have remained about the same. Live pigs have been selling for VND35,000 to 38,000 per kilo; chicken for around 22,000 per kilo; and eggs for VND1,650 each. The number of live pigs and poultry...

Vietnam Consumer Rights Group Fined For ”Unlicensed” Activity

Ho Chi Minh City authorities have imposed a VND7.5 million (US$360) fine on a consumer protection group, saying it overstepped its bounds by publishing negative reports about five businesses. The Ho Chi Minh City Department of Information and Communication said the Anti-Trade Fraud and Consumer Support Association (AFCA) violated its license, which does not allow it to run stories from news websites. It said the city-based association websites afca.vn and vietpress.vn both cited reports from various news websites accusing five businesses of trade violations. The alleged violators are Xuan Lan 727 Chemicals and Cosmetics Company, Viet...

China prohibits fresh shrimp imports from Vietnam

VietNamNet Bridge – Vietnamese officials have been astonished with the information that China has prohibited to import fresh shrimp from Vietnam. The Ministry of Agriculture and Rural Development (MARD) has requested its belonging agencies to clarify why China has released the decision to prohibit importing fresh shrimp from Vietnam. No state management agency had been informed about the news until a seafood company sent a dispatch to the Ministry of Industry and Trade (MOIT), informing that it could not export shrimp to China. An official of MOIT said the information came from Tuong Huu Company headquartered in Tan Phu district...

HCM City outlines big plan for Thu Thiem area

Ho Chi Minh City’s adjusted construction planning to 2025 has given the Thu Thiem new urban area an extremely important place in the city’s development course. The area was outlined to form part of the city’s central urban area and at the same time operate as a major economic and financial centre, which is expected […]

Vietnam’s Bank Chief To Be Queried Over Irresponsible Comment

Nguyen Van Binh, governor of the State Bank of Vietnam, has received 361 requests from National Assembly delegates to make a formal explanation on Tuesday over a statement he made last week. With such number of requests, Binh is the Government member having received the most questions after stating “as the governor of the State Bank of Vietnam, I could not promise anything about the handling of non-performing loans (NPL), or bad debt,” in a National Assembly (NA) meeting...