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HCM City calls for investment in support industry

Ho Chi Minh City has set developing hi-tech and support industries as the key to realising economic restructuring and growth model shift by 2015. Vice Chairman of the municipal People’s Committee Le Manh Ha was speaking at a seminar jointly held on April 16 by the Investment and Trade Promotion Center (ITPC) and the municipal ... Read More »

Thousands of firms hit the wall

Thousands of firms hit the wall HA NOI (VNS)— More than 2,270 businesses closed in the first quarter, while ovear 13,000 suspended operations, according to the Ministry of Planning and Investment. The finance, banking and insurance sector had the highest number of dissolved businesses, followed by education and training and real estate. Over 15,700 new businesses were established, mainly in ... Read More »

Power producers may pay more for coal

Power producers may pay more for coal Workers fix power connections on pylons at the Phu My Thermo-electric Centre in Ba Ria-Vung Tau Province. The Viet Nam Coal and Mineral Industries Group (Vinacomin) has asked the Government to increase the price of coal sold to power producers because coal is selling for less than it costs to produce. — VNA/VNS ... Read More »

Exporters to focus more on Hong Kong

Exporters to focus more on Hong Kong HA NOI (VNS) — Vietnamese businesses need to make the best of Hong Kong as a gateway for bringing their goods to other markets, said experts. They also highlighted Hong Kong as a potential export market for Vietnamese goods during a recent seminar to discuss ways to boost exports to the territory. According ... Read More »

Trade with Swiss grows 11%

Trade with Swiss grows 11% Optical cable is wound out at Sacom Corporation for export to Switzerland and other countries . Viet Nam’s export turnover for machines and electrical equipment to Switzerland boomed in the first two months of this year. — VNA/VNS Photo Van Khanh HA NOI (VNS)— Two-way trade between Viet Nam and Switzerland rose 11 per cent ... Read More »

Shares start to slide slower

Shares start to slide slower HA NOI (VNS)– The decrease of the stock market eased this morning with indices falling below 1 per cent. On the HCM City Stock Exchange, the VN-Index slid 0.87 per cent to reach 475.86 points. Trading value almost doubled yesterday morning’s level, hitting over VND1 trillion (US$47.6 million) on a volume of 43.1 million shares. ... Read More »

Budget supervision capacity project launched

Budget supervision capacity project launched HA NOI (VNS)– A US$2.5 million project to enhance the budget supervision capacity of Viet Nam’s elective agencies was launched yesterday. The project will be jointly run by the National Assembly’s Finance – Budget Committee and the United Nations Development Programme (UNDP). The three-year project will help deputies of the committee, the Ethnic Minority Council ... Read More »

Committees in charge of housing projects set up

Committees in charge of housing projects set up The People’s Committee of HCM City has recently established two committees at district and municipal levels in charge of the approval of future social housing projects.— Photo phapluattp.vn HCM CITY (VNS)– The People’s Committee of HCM City has recently established two committees at district and municipal levels in charge of the approval ... Read More »

The “cash king” and the multi-trillion dong takeover deals

VietNamNet Bridge – The current economic difficulties have brought the golden opportunities to the big tycoons to crush their quarries. Spending money to buy businesses The 2012 audited finance report of Masan Group (MSN) showed that MSN bought Hoa Muoi Gio (HMG) single member Company Ltd and used it as an instrument to buy 40 percent of the benefits of ... Read More »

CPI, inflation fears hit shares

The new trading week began bleakly on April 15, with stock indices dropping more than 2 percent following a whirlwind of negative predictions about the country’s rising consumer price index (CPI) and the subsequent threat of inflation. On the Ho Chi Minh Stock Exchange, the VN-Index dropped over 2.8 percent to 480.02 points. Only 39 listed shares managed to grow, ... Read More »