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[2012-03-09] From “making guesses” to “giving forecasts”
From “making guesses” to “giving forecasts”
March, 09 2012
VietNamNet Bridge – In order to show the panorama of the import and export activities in 2012, the Ministry of Industry and trade has carried out research on the special subject, pointing out the advantages and disadvantages and showing the solutions.
This is really a painstaking work which has been prepared very carefully, showing the high responsibility of the ministry. The report has been hailed as a ... |
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[2012-03-09] Transporters raise charges on higher fuel costs
Transporters raise charges on higher fuel costs
March, 09 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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[2012-03-09] Fuel price hike depresses shares
Fuel price hike depresses shares
March, 09 2012
Stocks tumbled on March 8 following the 10 percent hike in petrol prices the day before setting off new fears of an inflationary spike. Deputy Minister of Finance Vu Thi Mai admitted on March 8 that the higher petrol prices would add 0.85 percent to the year's inflation rate. Closing the day's session, sell pressure continued to send shares down on both exchanges. Both the VN-Index and VN30 on the HCM Stock Exchange finished off by around... |
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[2012-03-09] Banks move to cut deposit interest rates
Banks move to cut deposit interest rates
March, 09 2012
A State Bank of Vietnam (SBV) announcement about a possible cut in deposit interest rates has spurred many banks into action even before an official decision is taken. At a monthly Government meeting that took place on March 6, SBV governor Nguyen Van Binh said that it was the right time for the central bank to lower deposit interest rate ceiling by 1 percent. Foreign banks are among those that have acted quickly and effected the ... |
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[2012-03-09] Vietnamese government advised to take cautious steps to ease interest rates
Vietnamese government advised to take cautious steps to ease interest rates
March, 09 2012
VietNamNet Bridge – At the statement by the State Bank of Vietnam to ease the interest rates, international analysts have advised the government of Vietnam to take moderate and cautious steps.
In fact, the business circle has many times urged the State Bank of Vietnam to ease the interest rates, or businesses would die because of the thirst for capital or overly high finance costs. However, the p... |
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[2012-03-08] Global auto output to rise 3%, Asia leading: data
Global auto output to rise 3%, Asia leading: data
March, 8 2012
Global production of cars will increase by 3.0 percent this year, about in line with growth in 2011, the International Organization of Motor Vehicle Manufacturers forecast on Wednesday.
Last year, global vehicle production reached a record 80.1 million units, the organisation told a press conference at the Geneva Motor Show.
"After a dramatic fall in 2009 to 61.8 million units due to the crisis in 2008, world car product... |
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[2012-03-08] BUSINESS IN BRIEF 8/3
BUSINESS IN BRIEF 8/3
March,08 2012
State’s role needs to be clarified Vietnam needs to clearly define the role of the State in the market-driven economy as the country is deeply integrating itself into the global economy, said experts at a seminar in Hanoi this week. The seminar on Vietnam’s position in the integration process after 5 years of Vietnam’s membership in the World Trade Organization (WTO) was co-organized by the Vietnam Chamber of Commerce and Industry (VCC... |
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[2012-03-07] Nation goes global in trade push
Nation goes global in trade push
March, 07 2012
Vietnam has been busy forging economic links with countries around the globe.
The Vietnamese government has been working with the governments of China, Chile, Armenia, Columbia, Italy, Bhutan and European Union to bolster investment and trade ties between Vietnam and these markets. At a meeting between Vietnam’s Deputy Minister of Foreign Affairs (MoFA) Ho Xuan Son and his Chinese counterpart Zhang Zhijun in Beijing last week, the two ... |
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[2012-03-06] Breakfast @ Tuoitrenews – Mar06
Breakfast @ Tuoitrenews – Mar06
March, 06 2012
Briefs of some of leading news stories published Tuesday (March 06) in Tuoi Tre Newspaper that will be carried today on Tuoitrenews.vn:
Politics:
-- State President Truong Tan Sang yesterday paid a visit to the Department of Maritime Police and instructed relevant authorities to further provide appropriate equipment and personnel to ensure their effective working.
Society:
-- The Ministry of Health and the Ministry of Finance have... |
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[2012-03-06] Vietnam to become Asian leading motorbike production base?
Vietnam to become Asian leading motorbike production base?
March, 06 2012
VietNamNet Bridge – It is clear that Vietnam is the leading country in the world in terms of the number of motorbikes used. However, this would be shocking news that Vietnam may become a motorbike production base in Asia.
Japanese experts from JICA (Japan International Cooperation Agency) believe that with the high localization ratio of over 90 percent and a large market, ranking the fifth in the world, Vietnam ha... |
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[2012-03-02] Da Nang’s policies violate law: justice agency
Da Nang’s policies violate law: justice agency
March, 02 2012
Many items in a resolution on social and economic development goals for 2012 issued by Da Nang city People’s Council are unlawful or exceed their authorities, Le Hong Son, head of the Justice Ministry’s Legal Document Examination Department, said. The department has held a meeting to examine the resolution, with the attendance of many officials from the National Assembly’s Law Committee, the Government O... |
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[2012-03-02] Vietnam high logistics costs lower businesses’ competitiveness
Vietnam high logistics costs lower businesses’ competitiveness
March, 02 2012
VietNamNet Bridge – In Vietnam, the logistics costs make up 25 percent of GDP, while transport costs account for 50-60 percent of the logistics costs, an overly high if compared with the average rate in the world.
According to the International Monetary Fund (IMF), the logistics costs make up 12 percent of the total gross domestic products GDP in the world. In the US, logistics account for 9.9 percent of... |
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[2012-03-01] Shipping agents expect recovery opportunities in 2012
Shipping agents expect recovery opportunities in 2012
March, 01 2012
VietNamNet Bridge – The maritime transport market in 2012 would be still full of difficulties for domestic shipping firms due to the global economic uncertainties and the tonnage oversupply.
Tuoi tre newspaper two weeks ago quoted some shipping firms as saying that the shipping fee of imports and exports would increase significantly. The firms have said that the new shipping fees for the goods to Europe and Africa woul... |
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[2012-03-01] BUSINESS IN BRIEF 1/3
BUSINESS IN BRIEF 1/3
March, 01 2012
Business leaders less positive in 2012 Two-thirds of business leaders believe business conditions in Vietnam have deteriorated, according to The Nielsen Vietnam. The online survey The Nielsen Business Barometer survey last week released stated that over 30 per cent of firms believed their situation would deteriorate, while 36 per cent expected conditions to remain the same in the next 6-12 months. Of which, global economic crisis was in the top five conc... |
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[2012-02-27] Labor intensive industries leave cities for countryside
Labor intensive industries leave cities for countryside
Febryary, 27/02/2012
VietNamNet Bridge – Textile, garment and dyeing enterprises, which cannot see any opportunities in big cities, have been heading for the countryside, where they can cut down expenses.
Hanoi and HCM City have applied the policy on tightening the licensing projects in industrial zones, export processing zones, while the localities only grant the projects which use fewer laborers. Therefore, setting up production ... |
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