Vietnam vows to remove investment hurdles with LaosRemoving all obstacles towards Vietnamese investments in Laos and the two countries’ joint projects will be among Vietnam’s priorities in further riveting co-operation with its western neighbour this year.At a meeting organised a few days ago between the government and Vietnam-Laos Co-operation Committee, Prime Minister Nguyen Xuan Phuc stated that Vietnam will further its bilateral investment co-operation with Laos this year, with a focus on implementing co-operation projects about seaports, electricity, and infrastructure.Focus will also be placed on boosting the implementation of delayed Vietnamese investment projects in Laos.“It is necessary to review some projects in Laos so that their construction can be boosted with the highest responsibility. All enterprises and investors failing to implement the projects effectively must be strictly punished,” Phuc said.During his bilateral meeting with his Lao … [Read more...] about BUSINESS IN BRIEF 20/1
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BUSINESS IN BRIEF 9/11
Developers slash property prices With bank loans falling at the end of this year and losses from a gloomy domestic real estate market, many property developers have begun slashing prices of their apartments to boost revenue. On Monday, just three days after PetroVietnam Power Land announced a discount of 34 per cent on it's apartments, the Sai Gon Mekong Company reduced prices on 500 apartments in the An Tien urban area project in HCM City's District 7 from VND18 million (US$860) per square metre to VND14.5 million ($690) per square metre. Representative from the company's leaders Ho Van Tuyen said the move was an attempt to recoup capital for new business opportunities. Late last week, PetroVietnam Power Land Company cut off 34 per cent of the 85 apartments in its PetroVietnam Landmark project in District 2 to VND15.5 million ($738) per square metre from the earlier VND23.8 million ($1,130). The sell-off was aimed at resolving the difficulties of a frozen property market and … [Read more...] about BUSINESS IN BRIEF 9/11
BUSINESS IN BRIEF 19/10
Vietnam Expo 2016 to be held in HCM City The 14th Vietnam Expo will be held at the Saigon Exhibition and Convention Centre in Ho Chi Minh City from November 30 to December 3. It is expected to draw the participation of businesses from more than 20 countries and territories, including Indonesia, the Republic of Korea (RoK), China, and Taiwan. According to the Ministry of Industry and Trade, with the sponsorship of Mobifone, the event provides a platform for businesses to meet, expand business and promote trade and investment. Indonesia is the country of honour at this year’s expo, sending over 60 businesses to display modern technology products in the event. The RoK’s state businesses and provincial trade organisations, such as the Bucheon Chamber of Commerce and Industry, representatives of Incheon, Suwon, Daejeon authorities, will be among those present. Nearly 100 RoK businesses will introduce their latest technologies, services and products to the expo. The event will see first … [Read more...] about BUSINESS IN BRIEF 19/10
BUSINESS IN BRIEF 10/12
Forum eyes ways to boost dairy sector The raising of dairy cattle in the last few years has played an important role in livestock production, and helped raise farmers' incomes, but the industry needs improvements to develop in a sustainable manner. Speaking at an industry forum in HCM City's Cu Chi District last week, Dr Doan Duc Vu from the Institute of Agricultural Science for Southern Viet Nam said during the last 10 years, the dairy cattle population had rapidly increased, from 41,000 heads in 2001 to 128,538 heads last year. Total domestic milk production in the period had achieved an annual growth rate of more than 30 per cent to over 306,000 tonnes in 2010 from 64,000 tonnes in 2001. But domestic consumption and demand have increased even faster. Milk output this year has reached an estimated 329,000 tonnes, meeting only 22 per cent of demand. As a result, the country imports a large amount of milk and dairy products each year. As living standards increase, consumers … [Read more...] about BUSINESS IN BRIEF 10/12
BUSINESS IN BRIEF 9/12
Vietnam-world's most dynamic bank card market Vietnam is considered the most dynamic market for banking cards with an annual growth rate of 18.5 percent until 2014, announced the US-based Research and Markets company. The assessment was made at the 2011 ASEAN Banker Forum, jointly held by the International Data Group (IDG), the State Bank of Vietnam (SBV), and the Vietnam Banking Association and Deposit Insurance of Vietnam, in Ho Chi Minh City on December 7. The number of payment cards in Vietnam, which are widely accepted at more than 12,000 ATM and 50,000 POS nationwide, has more than doubled from14,7 million in 2008 to 33 million this year. Meanwhile, 20 banks utilize internet banking and 8 banks offer mobile banking services, according to the SBV. Karolyn Seet, an analyst at Moody's Investors Service in Singapore, said Vietnam has great potential for developing the retail credit market retail banking expected to grow at 30-40 percent. The forum featured one keynote … [Read more...] about BUSINESS IN BRIEF 9/12