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FDI inflow shifts away from major cities

Foreign investors have chosen to invest their money in other provinces and cities during the first months of this year in place of major cities such as Hanoi and Ho Chi Minh City. The movement demonstrates the considerable improvement in provinces and cities’ investment environment over the past time. In enhancing their investment climate, localities ... Read More »

Diseases ravage Mekong Delta fruit orchards

The yields in many citrus fruit and dragon fruit orchards in the Mekong Delta have fallen after they have been infected by new diseases. Nguyen Van Tam’s 4,000-sq.m grapefruit orchard in Tien Giang province’s Cai Lay District has seen its output fall by one-third in the last harvest season compared to previous seasons because of the destruction caused by a ... Read More »

Falling home prices create buyer’s market

Home prices have continued to decline in Hanoi and Ho Chi Minh City, leading to an improvement in property sales, according to a report released by Savills Vietnam early this week. In the second quarter, the Savills Property Price Index (SPPI) for Hanoi residential area was 104.7, dropping 3.6 points quarter-on-quarter and down 17.7 points year-on-year. The index has decreased ... Read More »

IMF: Vietnam regains macroeconomic stability

Vietnam re-gained macroeconomic stability over the past year, but the economy is progressing at two speeds, the International Monetary Fund (IMF) said in a press release on August 9. According to IMF’s latest consultation with Vietnam , the export sector is performing well, especially foreign direct investment (FDI) enterprises. The domestic sector, though improving, has yet to find a solid ... Read More »

Domestic powdered milk firms buoyant

Domestic milk companies have increased powdered milk production to meet a higher demand on the local market. Le Nguyen Hoa, deputy chairman of Dong Tam Nutrition Food Company (Nutifood), said the powdered milk market generated 2.36 trillion VND (111.3 million USD) in revenue in 2012, which included 300 trademarks, mostly foreign. However, Hoa said, imported powdered milk is costly and ... Read More »

Housing stimulus needs released

Deputy Prime Minister Hoang Trung Hai has asked commercial banks to act fast and remove impediments to disbursement of the 30 trillion VND (1.5 billion USD) housing stimulus package introduced by the government. The package aims to encourage development and purchase of social housing projects, giving a growth impetus to the stagnant real estate sector. At a recent meeting organised ... Read More »

Sacombank revs up operation in Laos

The Saigon Thuong Tin Joint Stock Commercial Bank (Sacombank) on August 12 officially opened the new headquarters of its branch in Vientiane , Laos . Sitting on a site of 9,000sq.m in the Lao capital city’s central district, the five-storey building is equipped with state-of-the-art facilities. Sacombank Deputy General Director Nguyen Minh Tam said over the past five years, the ... Read More »

Insurance firm finds potential in old cars

Insurance firm finds potential in old cars Do Quang Thuan, the first Vietnamese general director of Liberty Insurance Viet Nam. With the number of cars four years and older increasing rap-idly, Liberty Insurance Viet Nam has been inspired to embark on a “more challenging business plan”, says Do Quang Thuan, the company’s first Vietnamese general director. It is said that ... Read More »

Inspected properties disappoint officials

Inspected properties disappoint officials HA NOI (VNS)— Along with implementation of solutions to support the real estate market, Ha Noi’s Department of Construction has recently completed the inspection of 15 urban area projects currently under construction. The results were disappointing, it reported. The inspection revealed that all of the projects have fallen behind schedule and lacked infrastructure which were indispensable ... Read More »

Powdered milk firms buoyant

Powdered milk firms buoyant HA NOI (VNS)— National milk companies have increased powdered milk production to meet a higher demand on the domestic market. Le Nguyen Hoa, deputy chairman of Dong Tam Nutrition Food Company (Nutifood), said the powdered milk market has recorded VND2.36 trillion (US$111.3 million) in revenue for 2012, which included 300 trademarks, mostly foreign. However, Hoa said, ... Read More »