Vietnam Economic News
Vietnam Govt Should Not Turn off Stimulus Tap Swiftly: Economist
The Vietnamese government should not switch off its stimulus tap now in order to avoid any shocks to the economy, Le Xuan Nghia, a leading economist and vice chairman of the National Financial Supervisory Commission, has cautioned. Nghia was quoted by the Saigon Tiep Thi newspaper warning that foreign and
PetroVietnam Sells 1.4M Tons of Petroleum Products in H1
The state-owned oil monopoly PetroVietnam group said that it has sold 1.4 million tons of petroleum products in the first six months this year via its affiliate, PetroVietnam Oil Corp. (PV Oil). The volume includes 1.1 million tons of imported products, PetroVietnam said.
Foreign Oil Giants Eye $8B Refinery in Vietnam
A growing number of foreign oil companies have their interest in Vietnam’s third oil refinery, Long Son, worth $8 billion in southern Ba Ria-Vung Tau province. They are Petronas of Malaysia, IPIC of United Arab Emirates, Trafigura of Singapore, GS Group of South Korea, Shaw Stone & Webster International Inc.
Vietsovpetro Discovers New Oil Flow in Cuu Long Basin
Vietsovpetro - a joint venture of PetroVietnam and Russia's Zarubezhneft - found a new oil flow on July 2 while probing oil in the fractured basement at the northeast Bach Ho (White Tiger)-19 well in the Cuu Long basin offshore southern Vietnam. The joint venture found the oil flow at
Transport Firms in Vietnam Could Raise Fees by 7 per cent-12 per cent: VATA
The Vietnam Automobile Transport Association (VATA) said that transportation companies may raise rates by 7 per cent to 12 per cent after the government decided to raise the retail price of petroleum products by 5 per cent to 5.2 per cent in early July. The transportation fees will go up
Vietnam First Oil Refinery Sells 5,630 Tons of Petroleum Products
Vietnam’s first oil refinery, Dung Quat, had sold a total of 5,630 tons of petroleum products on the domestic market since its operation Feb 22 to Jun 30, said the state-owned oil monopoly PetroVietnam group. The volume included 3,880 tons of kerosene and 1,750 tons of diesel oil (DO), the
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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