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Vietnam Economic News

Transport charges to remain frozen

Transportation companies have not announced any rises in charges to customers nearly a week after a nominal increase in petrol and oil prices. Taxi companies across the country such as Mai Linh, Hanoi Tourist and Phu Dong confirmed that there would be no change in their charges following the recent

Fresh bids to build Citys second bridge

The HCM City Peoples Committee has decided to call for fresh bids for building another bridge next to the existing Sai Gon Bridge after its earlier award to a company was challenged. The Phu My Construction Investment Corporation (PMC) suggested a build - operate - transfer model and collection of

Co-operatives urged to be economically effective

Co-operatives are required to prove their economic effectiveness by providing economic benefits to their members and by focusing on dominating the domestic market. Politburo member and Permanent Member of the Party Secretariat Truong Tan Sang was speaking at the fourth Viet Nam Co-operative Alliance (VCA) Congress held yesterday in Ha

Industry promises big jump in power prices will end outages

"Weve proposed that the electricity price be raised to eight cents per kWh," Ngai said, "about 1500 dong, an average increase of about 400 dong. Its not so high. We need to recognize that for over a decade, not a single foreign company has been willing to invest in Vietnams

Delta faces obstacles implementing Mekong 1,000 project

The Mekong 1000 project to sponsor students in the Mekong Delta to pursue their graduate studies abroad has become stagnant due to candidates poor English language skills and disagreement between localities and the State Audit of Vietnam.

BMI raises VNs GDP growth forecast to 6 percent

With evidence of a consumer boom emerging, the Business Monitor International (BMI) boosted its GDP growth forecast for Vietnam this year to 6.0 percent, up from 4.4 percent earlier. The BMI is predicting that the growth will come out at a vigorous annual average of 6.2 percent over the next


Posted in: Vietnam BMI , 2010 Vietnam GDP

Vietnam ponders $ 11.21B Gasoline Distribution 2025

Vietnam is considering a plan to invest $ 11210000000 to build the distribution of petroleum products during the period 2010-2020 with a vision for further growth until 2025. Amount, an investment of $ 3330000000 is planned for 2010-2015 and 7870000000 $ for the period 2016-2025, according to Petrolimex Engineering Joint


Posted in: Vietnam petroleum

Capital rules mean banks have to $ 1.56bil in four months to win

Since the end of last month, 23 banks had their plans for the State Bank of Vietnam (SBV) to be presented to increase their capital on a map VND3 trillion (U.S. $ 156,250,000) this year, according to new rules.


Posted in: Mekong bank , Dai A Bank , Ficombank , Viet A Bank , SaigonBank , Tien Phong Bank , Southern Bank , VP Bank

Vietnam will restructure Vinashin

The government has stressed that the strategy of development of modern shipbuilding is healthy. We will do everything necessary to ensure (Vinashin) success of the Vietnam Shipbuilding Industry Group as shipbuilders and ship repair business. Company executives, the law is broken punished.


Posted in: Vietnam Vinashin , Petro Vietnam , Vinalines

Dung Quat Oil Refinery sees capacity raised

Deputy Prime Minister Hoang Trung Hai has given the nod on the Vietnam National Oil and Gas Groups proposal of raising the Dung Quat Oil Refinerys designed capacity. Accordingly, the Dung Quat Oil Refinerys designed annual capacity of 6.5 million tonnes will be raised to 10 million tonnes, said Dang


Posted in: Dung Quat Oil Refinery , Vietnam National Oil and Gas Group , Binh Son Oil Refinery Company

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Popular Vietnam Business News

Tasco plans to raise chartered capital to 135 billion dong

In details, the company will issue 5.5 million shares for existing shareholders with par value of 10,000 dong per share, under the ratio of 1:1 or one old share for

Vinashin Affiliate Launches First Car-carrying Ship

. Ha Long Shipbuilding Company, an affiliate of Vietnam Shipbuilding Industry Group (Vinashin), launched a 70,000 DWT car-carrying vessel on Tuesday, July 21 in the northern province of Quang Ninh.

Tolls proposed on cars using downtown streets

The citys Tien Phong Technology Joint Stock Company has proposed starting toll collection on cars using downtown streets from January 2012 with a fee level from US$1 to US$2, or

Vietnam hub recalls milk with content deficiencies

Health inspectors in Ho Chi Minh City on Wednesday ordered the recall of five milk products that did not contain the quantity of protein announced on their labels, and suspended

Leap in exports pushes trade deficit to $5.4b in five months

The countrys trade deficit reaches US$5.4 billion in the first five months of the year, according to experts from the General Statistics Office (GSO). The trade deficit was equivalent to

World Bank Predicts US$2.6B Surplus in Vietnam Balance of Payments in 2010

An excess of US$11.7 billion in the capital account will help Vietnam cover a shortfall of US$9.1 billion in the current account this year, the Hanoi-based Chief Economist Martin Rama

HCM City holds global marketing expo

The countrys first-ever International Advertising Equipment and Technology Exhibition opened August 5 in HCM City. The three-day event, Vietad 2010, has attracted more than 150 booths and nearly 70 domestic

Businesses weary of revised automatic import license procedure

Long Quoc Trung, Director of Matsu Electronics, a distributor of refrigeration equipment from Malaysia, said he is nervous because after two weeks, he still has not got confirmation of his

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