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[2012-05-12] BUSINESS IN BRIEF 12/5
BUSINESS IN BRIEF 12/5
May, 12 2012
Mekong Delta trade, tourism and investment fair opens A Mekong Delta trade, tourism and investment fair opened in Xuan To industrial zone, Tinh Bien district, in An Giang province on May 9. The event aims to create favourable conditions for businesses to introduce new products and trade names to consumers in border districts between Vietnam and Cambodia. There are 400 stalls, including 40 from An Giang province, 25 from Mekong Delta provinces, 265 from... |
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[2012-05-12] Supporting industry expo to join Metalex, Nepcon 2012
Supporting industry expo to join Metalex, Nepcon 2012
May, 12 2012
HCMC – The HCMC supporting industries expo will be organized under the same roof with two other expos Metalex Vietnam and Nepcon Vietnam in October, organizers announced after cutting a deal to this effect on Thursday.
HCMC Investment and Trade Promotion Center (ITPC) and the Japan External Trade Organization (JETRO) as the co-organizers of the supporting industries expo clinched the deal on Thursday with Reed Tra... |
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[2012-05-04] Businesses hesitant with banks’ suggestion on rollover
Businesses hesitant with banks’ suggestion on rollover
May, 04 2012
A lot of businesses have shown their hesitation when their creditors – commercial banks – ask them to borrow money elsewhere to pay bank loans, promising to provide new loans after the debt payment.
Governor of the State Bank of Vietnam Nguyen Van Binh, in a recent meeting with local press, said that commercial banks would consider restructuring the loans granted to businesses, which are meeting temporary di... |
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[2012-05-04] BUSINESS IN BRIEF 4/5
BUSINESS IN BRIEF 4/5
May, 04 2012
Borrowers get better access to foreign capital Credit institutions, including foreign bank branches, can now make loans in foreign currency to customers residing in the country, the State Bank of Viet Nam has ruled. Under Decision No 857/QD issued by the Sate bank of Viet Nam on Wednesday, credit institutions authorised to engage in foreign exchange may make short-term loans in foreign currency to resident customers for use in business and export operat... |
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[2012-05-04] Consumption stimulus needed to revive local businesses: experts
Consumption stimulus needed to revive local businesses: experts
May, 04 2012
Consumption stimulus programs are needed to support ailing local manufacturers, since the VND25 trillion tax exemption/reduction program is not enough to save them, said Dr Cao Si Kiem, a member of the National Assembly and the Chairman of the Vietnam Small and Medium Enterprises (SMEs) Association.
Professor Nguyen Mai, former Deputy Minister of Planning and Investment, echoed Kiem’s opinion, adding that ... |
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[2012-04-26] BUSINESS IN BRIEF 26/4
BUSINESS IN BRIEF 26/4
April, 26 2012
Vietnam’s exports to Mexico surge in two months Vietnam’s exports to Mexico in February hit roughly US$101 million, up nearly 56 percent over last year’s same month, according to the Commercial Office of the Vietnamese Embassy in Mexico. This was the first time Vietnam’s monthly exports to the second largest Latin American economy surpassed US$100 million. In the first two months, Vietnam’s exports to Mexico reached more ... |
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[2012-04-26] Businesses die in masses, commercial banks still live well
Businesses die in masses, commercial banks still live well
April, 26 2012
A strange thing is occurring in Vietnam: while businesses declare big losses or bankruptcy, banks still make big money.
Bankers strong, businesses weak In a healthy economy, banks pump capital into production. After production generates profits, capital is returned back to banks which then lend to businesses to create bigger profits. This means that there always exists a close link between the production and the capital... |
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[2012-04-25] Crisis storm attacks retailers, a lot of private shops shut down
Crisis storm attacks retailers, a lot of private shops shut down
April, 25 2012
After the manufacturers, it’s now the turn of retailers, the last link in the supply chain to taste the bitterness of the economic downturn. A lot of retailers have narrowed their business scale or shut down.
Difficulties pile up In the last week, Ninomaxx and Maxxstyle, the two well-known fashion brands, have announced the price discounts of 80 percent, goods liquidation, a step of the plan to shut down som... |
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[2012-04-25] How to rescue businesses?
How to rescue businesses?
April, 25 2012
One of the possibilities under consideration is either helping businesses iron out snags or letting weak enterprises dissolve themselves within the market rules. Helping businesses or letting them fall apart The Ministry of Planning and Investment reported that in the first quarter of this year, 2,400 businesses registered for dissolution but 11,600 others only wanted to suspend their operations or tax payments, showing an incre... |
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[2012-04-25] BUSINESS IN BRIEF 25/4
BUSINESS IN BRIEF 25/4
April, 25 2012
Nokia starts work on manufacturing facility in Vietnam Nokia yesterday kicked off the development of its manufacturing facility in Vietnam, to serve the growing demand for mobile phones all over the world. Located in Vietnam-Singapore Industrial Park (VSIP) in the northern province of Bac Ninh, the Nokia Vietnam manufacturing facility is being developed on an area of 17 hectares. Nokia expects to start the operations of this factory in early 2013. T... |
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[2012-04-25] Petrol price hike weakens the weak demand
Petrol price hike weakens the weak demand
April, 25 2012
VietNamNet Bridge – The petrol price hike has put manufacturers, who have been worried stiff about the slow sale, on the tenterhooks. The price increase has been described as a strong blow dealt on the already weak purchasing power, which would make the output of the production stuck.
On April 22, or two days after the petrol price increase was announced, food trading companies affirmed that they have received the notices from tra... |
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[2012-04-24] BUSINESS IN BRIEF 24/4
BUSINESS IN BRIEF 24/4
April, 24 2012
April CPI inches up around 0.06pct: minister Vietnam consumer price index (CPI) in April edges up about 0.06 percent, said Bui Quang Vinh, Minister of Planning and Investment at a recent meeting. Vinh publicized the CPI data in a discussion session on Friday afternoon, after revealing that it would rise less than 0.1 percent in the supplement socioeconomic report 2011 and plan for 2012 at the meeting of the National Assembly Standing Committee on Fri... |
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[2012-04-24] Vietnam’s tra fish export prices on the decrease, danger on the rise
Vietnam’s tra fish export prices on the decrease, danger on the rise
April, 24 2012
VietNamNet Bridge – Vietnamese tra fish exporters, who are seriously thirsty for capital and worried stiff with high inventory, have been trying to attract buyers by offering low prices.
The export prices offered for the EU and US markets have been lowered to surprisingly low prices since Vietnamese exporters have fallen into big difficulties which force them to sell cheaply. However, analysts have... |
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[2012-04-24] Nokia starts work on manufacturing facility in Vietnam
Nokia starts work on manufacturing facility in Vietnam
April, 24 2012
Nokia yesterday kicked off the development of its manufacturing facility in Vietnam, to serve the growing demand for mobile phones all over the world. Located in Vietnam-Singapore Industrial Park (VSIP) in the northern province of Bac Ninh, the Nokia Vietnam manufacturing facility is being developed on an area of 17 hectares. Nokia expects to start the operations of this factory in early 2013. The event is one step f... |
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[2012-04-24] After restructuring debts, businesses would be able to access loans
After restructuring debts, businesses would be able to access loans
April, 24 2012
VietNamNet Bridge – The State Bank of Vietnam, in an effort to disembroil both banks and businesses and to put the capital flow through, is considering issuing new requirements on borrowers.
Banks get afraid of lending Bankers have all said that though they have slashed the lending interest rates applied to some borrowers, the credit picture would be brighter only if the State Bank of Vietnam took necessa... |
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