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[2012-04-07] BUSINESS IN BRIEF 7/4
BUSINESS IN BRIEF 7/4
April, 07 2012
Striving to maintain export momentum Prices of export commodities in March in particular and in 2012 in general showed a decline after a sharp increase in 2011, concluded Nguyen Nam Hai, Vice Minister of Industry and Trade at a monthly meeting held yesterday by the Ministry of Industry and Trade. This will create a negative impact on businesses, especially those that depend on imported raw materials and equipments. In addition, thou... |
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[2012-04-06] Vietnamese businesses rush to borrow capital from foreign sources
Vietnamese businesses rush to borrow capital from foreign sources
April, 06 2012
VietNamNet Bridge – Listed businesses and banks plan to mobilize 2.35 billion dollars worth of capital by issuing international bonds this year.
Vincom has announced that it has successfully issued 185 million dollars worth of convertible bonds in Singaporean stock market. The bonds in dollars will become due in five years with the coupon interest rate of 5 percent per annum. The issuer would make payment o... |
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[2012-04-06] BUSINESS IN BRIEF 6/4
BUSINESS IN BRIEF 6/4
April, 06 2012
BOT investors hastily return projects to gov’t Many BOT (Build – Operate – Transfer) investors have transferred their infrastructure projects back to the Ho Chi Minh City government after operating them for a short time, far sooner than originally planned, due to poor effectiveness. In a BOT contract, a private company builds an infrastructure project, operates it, and eventually transfers the ownership of the project to the governme... |
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[2012-04-06] BOT investors hastily return projects to gov’t
BOT investors hastily return projects to gov’t
April, 06 2012
Many BOT (Build – Operate – Transfer) investors have transferred their infrastructure projects back to the Ho Chi Minh City government after operating them for a short time, far sooner than originally planned, due to poor effectiveness. In a BOT contract, a private company builds an infrastructure project, operates it, and eventually transfers the ownership of the project to the government. But many investors... |
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[2012-04-06] Urbanisation important for Vietnam’s future
Urbanisation important for Vietnam’s future
April, 06 2012
On April 5 the World Bank (WB) released its Vietnam Urbanization Review, which underlines the key role of urbanization in the national economic development strategy.
The report is to provide a better understanding of the key dimensions and aspects of Vietnam ’s urbanisation process, as well as identifying trends, opportunities, challenges and core policy priorities for the country.
Victoria Kwakwa, Country Director... |
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[2012-04-05] Banks rush to raise chartered capital to avoid hostile takeover
Banks rush to raise chartered capital to avoid hostile takeover
April, 05 2012
VietNamNet Bridge – A lot of commercial banks are considering increasing their chartered capital to protect themselves when necessary, from the attempts of the “big fish” taking them over.
The board of directors of many commercial banks is going to submit the plan to increase chartered capital in the “shareholders’ meeting season.” The 2012 shareholders’ meeting of ACB has ... |
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[2012-04-05] Production comes to a standstill, inventory increases, businesses sit idle
Production comes to a standstill, inventory increases, businesses sit idle
April, 05 2012
VietNamNet Bridge – Nearly 12,000 businesses stopped operation or got dissolved in the first quarter of the year, the latest report by the Ministry of Planning and Investment show.
Enterprises are doing everything they can to struggle with the current difficulties - scaling down the production, laying off workers and cutting down expenses. The bank loan inaccessibility, input material price increas... |
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[2012-04-05] Two Vinashin’s international creditors raise their voices
Two Vinashin’s international creditors raise their voices
April, 05 2012
VietNamNet Bridge – The US hedge fund Elliott Advisers LP has decided to drop a lawsuit against the Vietnam Shipbuilding Industry Group (Vinashin). Meanwhile, a Malaysian creditor has stated that the value of the loan provided by the bank to Vinashin is very small.
Vinashin kicks off debt settlement process
The Wall Street Journal has quoted its source as saying that Elliot has decided to wave its claim agai... |
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[2012-04-04] Golf course projects face growing criticism
Golf course projects face growing criticism
April, 04 2012
Two senior officials from the Ministry of Planning and Investment (MPI) have made several media appearances in the past couple of weeks, trying to defend golf courses blamed for enroaching on rice fields and creating social and environment problems.
In an online dialogue on March 16, Minister Bui Quang Vinh said golf courses themselves were not guilty of encroaching upon rice fields, forest areas and preventive forests.
Vinh said peo... |
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[2012-04-03] Lamenting of losses, EVN still posts strong growth
Lamenting of losses, EVN still posts strong growth
April, 03 2012
Despite repeatedly complaining of losses over the last few years, the Electricity of Vietnam Group, commonly known as EVN, has paradoxically posted strong growth in revenue during these loss-stricken periods.
Last year the power monopoly increased the power price by 15.28 percent, but saw its revenue rise by as much as 27 percent, raising questions among industry insiders. A year earlier, the peak time of its losses, EVN sti... |
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[2012-04-03] BUSINESS IN BRIEF 3/4
BUSINESS IN BRIEF 3/4
Arpil, 03 2012
Saudi enterprises to increase VN investments Many companies in Saudi Arabia are seeking investment opportunities in Viet Nam because of its promising markets, according to a Saudi official. Speaking at a press conference in HCM City last week, Ambassador to Viet Nam Salah Ahmed Sarhan said that Saudi companies were especially interested in the agriculture sector, particularly the production and export of rice. In addition to agriculture produ... |
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[2012-04-03] FAST 500 enterprises maintain high growth by diversifying business fields
FAST 500 enterprises maintain high growth by diversifying business fields
April, 03 2012
VietNamNet Bridge – Not only getting more heavily into research and development (R&D) for applying new technologies, a lot of enterprises have been trying to expand their business fields to maintain the high growth.
Expanding the production scale and strengthening the distribution network are the works to be done by most of the FAST 500 enterprises (the top 500 enterprises with the highest growt... |
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[2012-04-03] Vietnam’s income per capita far lagging behind regional countries
Vietnam’s income per capita far lagging behind regional countries
April, 03 2012
VietNamNet Bridge – The average income per capita of Vietnamese people is still far lagging behind the income per capita in ASEAN countries and China, though the income has been increasing considerably in the last years as a result of the doi moi (renovation) period.
Vietnamese still poor… Meanwhile, the scenario that Vietnam can catch up with China and other ASEAN’s economies would stil... |
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[2012-03-10] Transporters raise charges on higher fuel costs
Transporters raise charges on higher fuel costs
March, 10 2012
HCMC – A large number of HCMC-based goods and passenger transport firms are preparing to increase their charges following the shocking fuel price hike on Wednesday.
With gasoline and diesel oil increasing by VND2,100 and VND1,000 per liter to VND22,900 and VND21,400 respectively, the firms are calculating a transport charge hike to make up for the increased fuel costs.
Trinh Chau Khanh, director of Kim Loi Minh Transp... |
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[2012-03-10] More bankrupted businesses reported
More bankrupted businesses reported
March, 10 2012
VietNamNet Bridge – State management agencies have reported a sharp increase in the number of businesses which went bankrupted or halted operation in the first two months of the year, warning that the situation would only be improved after the second quarter of 2012.
The latest report by the HCM City Planning and Investment Department showed that 408 businesses with the total capital of 1,518,627 million dong, got dissolved. Meanwhile, ... |
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