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Indicators reveal signs of early recovery

Indicators reveal signs of early recovery Bui Quang Tuan Indicators during the last three months are promising signs of an early economic recovery. Gross domestic product in the first quarter grew by 4.89 per cent, the consumer price index fell significantly, while exports and foreign direct investment reported encouraging results. However, in both the short and long term, it seems ... Read More »

National stocks continue to fall

National stocks continue to fall HA NOI (VNS)– Shares this morning opened the new trading weak with a bleak session. On the HCM City Stock Exchange, the VN-Index lost over 2 per cent to reach 484.15 points. The numbers of losers and gainers were nearly even, while most of the listed stocks closed unchanged. Trading value hit VND526.48 billion (US$25 ... Read More »

Foreigners willing to spend millions of dollars to buy houses in Vietnam

VietNamNet Bridge – A lot of expats in Vietnam have affirmed they will spend millions of dollars to buy houses here, denying the opinion that even if the government opens the real estate market to foreigners as proposed, this would not attract foreigners, who believe that the real estate price in Vietnam is overly high.   Owning houses better than ... Read More »

BUSINESS IN BRIEF 15/4

Steel consumption increase ‘shortlived’ Steel consumption in March climbed by nearly 80 per cent to 450,000 tonnes over the previous month, according to the Viet Nam Steel Association (VSA). The association told Viet Nam News yesterday that its members produced about 448,000 tonnes of steel in March. “Some people say this is a good sign for the industry. We, however, ... Read More »

SBV to auction gold until gap narrows

VietNamNet Bridge – The State Bank of Vietnam (SBV) will sell gold until banks no longer need the precious metal with the hope that the gap between local and global gold prices will narrow, stated a senior source from the central bank.     At an auction on Wednesday, 40,000 taels of gold were up for grabs with 39,200 taels ... Read More »

Credit rating reflects macroeconomic strain

VietNamNet Bridge – Early this year, Fitch Ratings affirmed Viet Nam’s sovereign rating at B+ with a stable outlook. With Viet Nam determined to restructure the whole economy with a focus on the banking system, Viet Nam News reporter Mai Huong talked with Ambreesh Srivastava, senior director of Fitch Ratings’s Financial Institutions, South Asia, about the problems facing the domestic ... Read More »

Vietnamese trains follow one rail all the time

VietNamNet Bridge – In Vietnam, productivity growth in the rail transport sector is the lowest among the transport modes. Minister of Transport Dinh La Thang in mid March 2013 confirmed the decision to cancel the project on the $56 billion high speed rail because the project raised a lot of controversy. The rail was believed to be too costly, while ... Read More »

Allowing foreigners buying houses in VN to rescue property market?

VietNamNet Bridge – Vietnam will not be able to rescue the real estate market if it only relies on the domestic resources. The government has been urged to allow foreigners to buy houses in Vietnam to increase the demand.     Foreign sources would help warm up real estate market In 2008, the National Assembly released a resolution on allowing ... Read More »

BUSINESS IN BRIEF 14/4

Q2 rice exports forecast to grow The Department of Agriculture of the Philippines has invited Vietnam to join a bidding round for supply of 187,000 tons of rice to this market in 2013, according to the Vietnam Trade Office in the Philippines. The government of the Philippines wants to reduce rice import to gain food independence by late 2013, but ... Read More »

Vietnamese take precautions when doing business with Chinese

VietNamNet Bridge – Having tasted bitterness in doing business with Chinese enterprises, Vietnamese say it’s not the time to make a break with Chinese.   Hiep Phat, a ball bearing trade company, decided to import the products from a well-known company in Guang Dung, China, instead of Japan, because the Chinese products were much cheaper. At first, everything went smoothly. ... Read More »