Vietnam News

Vietnam coffee premium seen rising amid thin farmer inventories 0

Robusta vietnamSource: Thanh Nien News

Buyers of coffee from Vietnam, the world’s largest producer of the robusta variety used in instant drinks, are paying a higher premium for their beans amid low supplies from farmers, according to Volcafe Ltd. More…

Samsung eyeing Vietnam's power sector 0

Vietnam MapSource: Tuoi Tre News

South Korean electronics giant Samsung is considering investing in Vietnam’s power sector, according to a state agency.

It will survey 5 power projects in the central and southern regions of the country this month to select a good place for investment, according to the Department of Energy under the Ministry of Industry and Trade. More…

Energy cooperation important to Vietnam-Russia ties 0

Flag-Pins-Russia-VietnamSource: The Voice of Vietnam

Cooperation in energy, especially oil and gas, plays an extremely important role in the developing strategic partnership between Vietnam and Russia, Prime Minister Nguyen Tan Dung has said.

Dung made the statement at a reception for visiting Chairman of the Management Board and Chief Executive Officer of Russia’s Gazprom Neft Joint Stock Company Alexander Dyukov in Hanoi on September 4. More…

VAMC cuts annual debt target 0

Vietnam Joint StockSource: Viet Nam Net

The Viet Nam Asset Management Company (VAMC) may fall well short of its target to remove VND70 trillion (US$3.3 billion) worth of non-performing loans from the nation’s banking sector this year.

The statement was made by State Bank of Viet Nam (SBV) Governor Nguyen Van Binh after announcing that VND30 trillion ($1.4 billion) of bad debts will be addressed in 2013. More…

Vietnam government intervention sought to support rice prices 0

vietnam rice exportsSource: Thanh Nien News

The Vietnam Food Association is seeking government approval to enlarge its rice stockpile by another 300,000 tons to keep prices stable after Thailand cut export prices of the grain.

In a recent note to Prime Minister Nguyen Tan Dung, the VFA has proposed that its rice businesses be permitted to buy from September 15 to October 15. More…

Sri Lanka Vietnam trade up 20-pct in first half 0

vietnamsrilankaSource: Lanka Business Online

Trade between Sri Lanka and Vietnam has risen 20 percent in the first half of 2013, Hanoi’s envoy to Colombo Ton Sinh Thanh said.

“Trade volume between the two countries in the first six months of the year reached 77 million US dollars, which is an increase of 20 percent,” Ambassador Thanh said at an event marking the national day of Vietnam.

“This is a quite high growth given the economic difficulties in the world.” More…

Foreign firms in Vietnam complain about deteriorating business climate, consider quitting 0

Vietnam InvestorsSource: Thanh Nien News

Many foreign firms plan to pull out or scale down business in Vietnam and go to other countries with better business environments, the Foreign Business Association said.

News website Thoi Bao Kinh Te Saigon (Saigon Economic Times) reported the association and investors as telling Ho Chi Minh City leaders at an investment conference on August 30 that too many changes in regulations cause difficulties for them. More…

Manufacturing sector moves closer to stabilization: HSBC 0

Vietnam's economy expanded 4 percent in the first quarter, the slowest pace since 2009Source: The Voice of Vietnam

Vietnam’s manufacturing sector showed signs of near stabilization even though its output and new orders continued to fall in August, according to HSBC.

The August survey says, there was a survey record increase in employment as manufacturers were in the positive for activity. More…

Vietnam Airlines to choose strategic investor as IPO moves ahead 0

Vietnam AirlinesSource: Bloomberg

Vietnam Airlines Corp., the national carrier, plans to select a strategic investor as early as the fourth quarter as it prepares for an initial public offering next year.

The national carrier considers the equitization as a “key mission” in 2013 and is moving the process “as fast as possible,” it said in an e-emailed statement yesterday in response to Bloomberg questions. More…

Eight-month export revenue approaches US$85 billion 0

Saigon, VietnamSource: The Voice of Vietnam

The Ministry of Industry and Trade (MoIT) has estimated Vietnam’s eight-month export earnings at US$84.82 billion, representing an annual increase of 14.7 percent.

The MoIT said export revenue hit US$11.5 billion and imports were valued at US$11.8 billion in August alone, rising 5.2 percent from July. More…