Business Beat - VietNam News

Slump puts coffee firms in hot water

Despite the warning from the Viet Nam Coffee & Cocoa Association that the country's coffee harvest may decline for a second straight year because of drought in the main growing regions, prices have continued to drop, putting coffee traders in distress.

Real estate mergers, acquisitions heat up

The real estate community was all at witter last week after learning that Vingroup (VIC) had transferred its upscale Vincom A Trade Centre in HCM City for VND 9.823 triillion (US$470 million).

Measures urged to lure foreign investment in stocks

The State Securities Commission should consider several changes on the stock market to lure foreign capital, such as applying a T+0 or T+1 settlement period and restructuring companies.

$1.4b housing loan package faces hurdles

On May 28 the Housing and Urban Development Cor-poration and Viet Nam BIC jointly broke ground for a social housing project in Ha Noi's Linh Dam new urban area.

Yen devaluation troubles exporters

The Japanese yen has dropped by nearly 20 per cent over the Vietnamese dong in the last six months, leaving exporters worried about further losses if the currency continues to be devalued.

Kien Giang hot for thermal plant progress

Southern Kien Giang Province authorities are impatient with the long delay in building a huge thermal power plant in Kien Luong District.

Retailers lose ground against foreign rivals

In July 2011 E-Mart, South Korea's top discount store chain, signed an agreement with Viet Nam's U&I Investment Corporation to form a distribution joint venture in the country.

Tourism bodies want to keep visa waiver

The HCM City Tourism Association continues to petition the Government to retain the visa waiver scheme for nationals of seven countries — and in fact to expand it — and not to hike visa fees.

State Bank faces interest rate dilemma

The State Bank of Viet Nam plans to maintain the current deposit interest-rate cap to ensure stability on the market. However, many domestic enterprises want the central bank to set a cap on the lending interest rate so they can access more bank loans.

Parboiled rice: idea whose time has come

Vietnamese exporters were hoping that parboiled rice would give them a helping hand considering the difficulties faced in rice production and export.

Firms rush to export rice despite limitations

According to a recent report by the Ministry of Industry and Trade, there has been a sharp increase in the number of companies seeking a licence to export rice.

Hightlight

First Korean-language newspaper hits shelves

The Vietnam-Korea Times – Viet Nam's first Korean language newspaper made its debut in Ha Noi yesterday.

New industrial zone to lure Japanese firms

Construction of the Phu My 3 Industrial Zone starts today in the south-eastern province of Ba Ria Vung Tau to predominantly house Japanese companies. Viet Nam News spoke to Nguyen Thi Thao Nhi, CEO of the Thanh Binh Phu My Joint Stock Company, the major investor in the zone, about its strengths and commitment to the province's development.

Classical guitarist to entertain