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PM sees deals worth 2.4 billion USD signed 2008-03-08 09:54:00 Prime Minister Nguyen Tan Dung witnessed the signing of economic deals worth a total of 2.4 billion
USD between Vietnamese and German businesses during his visit to Germany which began on March 6.
The signing took place following the Viet Nam-Germany Business Forum held in Frankfurt on March 7.
The Viet Nam Aviation Corporation, the PetroVietnam Construction Joint Stock Corporation and the Viet
Saigontourist to welcome five cruise liners 2008-03-08 09:53:00 The Saigontourist Travel Service Company will receive five international cruise ships carrying 4,850 foreign tourists on board during the week from March 10-17.
On March 10, cruise ship Costa Allegra with 1,150 tourists and crew will dock at the Sai Gon port.
The same day, the SuperStar Libra will bring 1,200 holiday makers and crew to Ha Long Bay in northern coastal Quang Ninh province.
Coffee fetches record prices 2008-03-08 09:51:00 Domestic coffee prices fetched a new record of 42,000 VND per kilo (2.65 USD), up by 2,000 VND in just one week, according to the Dak Lak Tourism and Trade Department.
Last week’s price of 40,000 VND (2.50 USD) was the highest in 10 years, said experts. Traders said that the latest increase was caused by the country’s crop failure and rising petroleum prices.
However, the price is expected to Read more:Coffee
Detailed measures to control inflation and price rises to be taken 2008-03-08 07:40:00 Representatives from the Ministry of Finance (MoF) and the State Bank of Vietnam announced various detailed measures to restrain inflation and control price
s at a press conference at the Ministry of Information and Communications on March 6.
The MoF said it would closely control prices of goods and services with payments derived from the State budget; apply fees and prices subsidies; pool
Binh Dinh Fishery Joint Stock Company exports double 2008-03-08 07:27:00 The Binh Dinh Fishery JointStock
Company (BIDIFISCO) has processed and exported 602 tonnes of seafood in the first two months of this year, earning US $2.3 million, doubling the figure of the same period last year.
The company aims to earn US $3.5 million from exports
in the first quarter and US $17 million for the whole year of 2008.
Currently, fishermen in Binh Dinh province and the country Read more:double
Binh Dinh Fishery Joint Stock Company exports double 2008-03-08 07:27:00 The Binh Dinh Fishery JointStock
Company (BIDIFISCO) has processed and exported 602 tonnes of seafood in the first two months of this year, earning US $2.3 million, doubling the figure of the same period last year.
The company aims to earn US $3.5 million from exports
in the first quarter and US $17 million for the whole year of 2008.
Currently, fishermen in Binh Dinh province and the country Read more:double
Binh Dinh Fishery Joint Stock Company exports double 2008-03-08 07:27:00 The Binh Dinh Fishery JointStock
Company (BIDIFISCO) has processed and exported 602 tonnes of seafood in the first two months of this year, earning US $2.3 million, doubling the figure of the same period last year.
The company aims to earn US $3.5 million from exports
in the first quarter and US $17 million for the whole year of 2008.
Currently, fishermen in Binh Dinh province and the country Read more:double
Vietnam - India business talk show kicks off 2008-03-07 23:13:00 The India
n Business Chamber in Vietnam
(Incham) Friday kicked off a “talk show” on Vietnam-India business opportunities at the Legend Hotel in Ho Chi Minh City’s District 1.
Indian Ambassador Lal Thla Muana and the Vietnamese Deputy Minister of Industry and Trade Le Duong Quang attended the event.
Vietnam and India have a long-standing diplomatic and economic relationship.
Trade ties between
Hai Phong paint producer builds 40b dong factory 2008-03-07 20:14:00 Hai Phong
Paint Joint Stock Co No 2 recently kicked off the construction on 6,000 tonne a year paint factory in Trang Due Industrial Zone with a total estimated cost of 40 billion dong.
Built on a site of 14,000 square metres, the factory will turn out Selac electrostatic powder paint, water paint branded Semax and Vico.
The company will build a factory of producing international standardised
Taiwanese paper companies to upgrade production capacity 2008-03-07 20:07:00 Taiwan's leading paper
producers including Yuen Foong Yu and Cheng Loong Corp target to become the largest box makers in Vietnam, said the Vietnam Paper Association.
Yuen Foong Yu now has two paper producing plants in Long An and Binh Tan with a total capacity of nine million square metres of paper boxes a month. In the next time, the company could take over a Malaysia invested paper factory Read more:upgrade
Tougher control over SOEs' financial investments 2008-03-07 20:05:00 The Ministry of Finance reported finalising the decree draft to modify the scheme of monitoring financial investments of state owned enterprises and state capital invested in other businesses.
The decree is estimated to be issued within this month.
The notable point of the decree is that state owned enterprises that do not have functions of financial investments (excluding banks or financial Read more:Tougher
Real Estate Market: Instant Profits along with Risk 2008-03-07 10:54:00 Now that real estate market is witnessing a fever, the warnings from economic experts about a bubble phenomenon are very plausible in the near future. In a talk with the journalist of the Viet Nam Business Forum, Mr Nguyen Manh Ha - General Director of the Housing Management Department (the Ministry of Construction), predicts that investors are likely to face further risk if they drive up house Read more:along
, Estate
, Market
, Real Estate
State bank widens foreign currency trade band 2008-03-07 08:53:00 The State
Bank of Viet Nam (SBV) will widen the foreign currency trade band to one percent on either side of the average rate in the inter-banking market instead of the current 0.75% as of March 10.
SBV Deputy Governor Nguyen Dong Tien said at a press briefing on controlling inflation and price hike on March 7 that the move is aimed at easing a shortage of Viet Nam dong.
SBV will maintain
Bavaria's Mueller says Siemens has chance of winning Viet Nam underground order 2008-03-07 08:47:00 Bavaria's Economy Minister Emilia Mueller is convinced that Siemens
AG has a very good chance
of winning a share in the order to build a new underground in Viet Nam, valued at about 800 mln eur, German news agency dpa reported.
Mueller, who is currently on a visit to Asia, was speaking in Ho Chi Minh City.
Hopes had been high that Vietnamese prime minister Nguyen Tan Dung would announce a
Greenlight for Can Tho-An Giang highway 2008-03-07 08:45:00 The government has approved in principle the construction of a 1.8 billion USD Can Tho-An Giang
highway, according to Can Tho city People’s Committee Chairman Nguyen Thanh Son.
The chairman said a building-operation-transfer (BOT) contract has been set, making way for the construction and operation of the highway and the subsequent transfer of its management to the locality.
The 110km highway,
Denmark’s workwear manufacturer opens factory in Hai Duong 2008-03-07 08:41:00 Denmark ’s leading workwear manufacturer Mascot has launched its garment factory and a bonded warehouse in the Tan Truong industrial zone in northern Hai Duong province.
The 10 million USD facilities, which opened on March 7, will serve as a centre of material distribution and material quality control for Mascot’s factories across the globe.
Addressing the opening ceremony, Mascot Viet Nam Read more:Denmark
Overcapacity threatens catfish industry 2008-03-07 05:38:00 Exports of tra and basa catfish are booming, but seafood industry
insiders are warning processors to be cautious about excessively increasing their output capacity.
"The growth in sources of tra and basa catfish and in export markets is much slower than the planned growth in processing capacity," said Viet Nam Fisheries Association chairman Nguyen Huu Khanh.
Khanh said annual growth in market
Can Tho exports tra catfish to Mexico 2008-03-07 05:32:00 The Mekong Delta city of Can Tho has exported more than 324,000 USD worth of tra catfish to Mexico
, a new market in Central America.
The 133-tonne export has helped raise the city’s seafood export output in the first two months of this year to 9,000 tonnes. This takes earnings to 43 million USD, representing a year-on-year increase of 29 percent.
Due to difficulties in shrimp exports
to the US
ANZ launches savings accounts 2008-03-07 05:31:00 ANZ’s two new savings account plans offer high interest rates with no monthly fees or transaction charges.
The ANZ Progress Saver and ANZ Online Saver accounts can be opened with a minimum y VND500,000 or US$500.
The accounts can be linked with other ANZ accounts, y including the ANZ Smart Account.
Transferring money between the accounts will be easy, according to the bank.
ANZ is set to open
Viet Nam postpones "Asia's Next Tiger" business meet 2008-03-07 05:28:00 Viet Nam has postponed a major business conference scheduled for next week citing "pressing macro and micro-economic concerns", the organisers of the Euromoney conferences said on Friday.
The group had invited about 1,500 delegates for the March 11-12 Euromoney Vietnam Investment Forum, its third annual Hanoi conference, advertised under the title "Sustaining Growth and Reform in Asia
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Japanese medical equipment factory launches in southern province 2008-03-07 05:27:00 The Japanese
Omron Healthcare Manufacturing Viet Nam Company officially put into operation its US$2.5 million factory that manufactures blood pressure monitors in southern Binh Duong Province.
Located in the Viet Nam-Singapore Industrial Park II, the plant can currently produce up to 5,000 monitors annually.
That figure is expected to double within a year.
The products will be exported to Read more:medical
Viet Nam to build $105 million airport 2008-03-07 05:19:00 Viet Nam plans to build an airport
in the south-central province of Phu Yen at a cost of VND1.67 trillion (US$105 million
), Thoi Bao Ngan Hang (Banking Times) newspaper reported Thursday, citing a government document.
Construction will start in 2015 on the facility that will be able to handle 100,000 passengers and 1,000 tons of goods a year, according to the report.
The Southeast Asian country
Made-in-Viet Nam cell phones regain attention 2008-03-07 05:15:00 Thuan Phat’s plan to build a telephone factory or A My’s introduction of ConnSpeed cell phones in Viet Nam late last year are heating up the “made-in-Viet Nam cell phone” topic.
The Vietnamese telecom market is growing at the highest rate worldwide, 25% per year on average, according to the Ministry of Information and Communications’ statistics. Viet Nam has also passed Thailand and China as Read more:attention
DKSH targets big investments in Viet Nam 2008-03-12 19:40:00 DKSH Group, a leading market expansion services UK pound inn in Asia, sees Viet Nam as a growth market for its business and investment operations, with its tentative investments here amounting to US$400 million, said president and CEO Joerg Wolle.
Speaking to reporters in HCM City yesterday during his visit to Diethelm Vietnam Co., its Viet Nam-based unit, he said, "Viet Nam has been an Read more:targets
ACB increases US dollar deposit rate to 5.85% pa 2008-03-12 19:38:00 Asia Commercial Joint Stock Bank(ACB) on March 10 announced that it adjusted term deposit in US dollar to the highest level of 5.85% per annum right after hiking the dong and gold deposit rates.
Accordingly, the US dollar deposit rates for all terms have a plus of 0.8%-1.35% per annum against the previous interest rate benchmark whereby depositors will receive the lowest rate of 5.5% per annum
Foreign subsidiary banks towards non-cash payment market 2008-03-12 19:18:00 The born of two foreign wholly owned banks
in Viet Nam, one of Standard Chartered Bank and HSBC currently has raised a slew of worries s for domestic banks. However, it is said that the comprehensive participation of the two foreign banks through their 100% invested subsidiary
banks will only help diversify financial products and there will be more capital suppliers on Vietnamese finance market. Read more:Foreign
Viet Nam warned by IMF 2008-03-12 19:11:00 The International Monetary Fund (IMF) has warned Viet Nam that its fast-growing economy is overheating. It has advised Hanoi to adopt a more flexible exchange rate regime and to tackle imprudent lending practices by commercial banks, in order to help control inflation.
“There are increasing signs that the economy is overheating, threatening sustained economic growth in the medium term,” Shogo
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