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| Vietnam - Latest Information News |
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May 17, 2007:
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Gov't approves over US$80 mil to drill for oil
"The Vietnamese government has approved an US$82.5 million plan to exploit the Phuong Dong oil field in waters off the coast of southern Vietnam"
"Between January and April this year, crude oil - Vietnam's top export item - earned $2.36 billion, the country's highest export turnover. Though the figure was a slight year-on-year drop in both volume and value, analysts attributed the dip to declining global prices"
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May 15, 2007:
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There will be Vietnamese owned hypermarkets
"VietNamNet Bridge - The Vietnam Distribution Associate Network (VDA) officially presented itself before the public on May 14 in Hanoi. A lot of supermarkets were opened in the last month, aiming to hold positions in the market before foreign retailers land"
"Under its WTO commitments, Vietnam will open its distribution market in 2009. Meanwhile, giant distribution groups are already present in Vietnam, including Metro, Big C and Parkson"
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May 13, 2007:
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Exchange rates may trip economy in 2007
"So far this year, the dong has gained 0.3 per cent against the US dollar, currently sitting at VND16,047 per dollar despite an earlier State Bank plan to slightly depreciate the local currency by 1 per cent to maintain trading competitiveness."
"Since September 2006, local banks have experienced US dollar surpluses for the first time with massive dollar inflows into the booming stock exchange and sharp increases in FDI attraction"
"But, according to the World Bank's latest report, market capitalisation to date has reached $24.4 billion - 39.2 per cent of GDP"
"Vietnam has lured $3.51 billion via foreign direct investment, recording 54.7 per cent growth against 2006"
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May 8, 2007:
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Japanese investors get Vietnam fever - reuters
"HANOI/TOKYO (Reuters) - Tadayoshi Okimoto, an auto company executive from southern Japan, rubs shoulders with dozens of Vietnamese at a brokerage in Ho Chi Minh City, excited to get a piece of Vietnam's fledgling stock market"
"In many countries, the stock market is mature and goes up and down a lot. But in Vietnam, the stock is very new so the chart is going up all the time. In two or three years' time, we will receive a lot of money from our investment," Okimoto, 41, said
"Driven by low interest rates at home, Japanese investors are eyeing Vietnam, a communist-ruled country experiencing fast economic growth after starting gradual economic reforms in 1986, as an alternative to China and India"
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May 04, 2007:
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Vietnam's Exports Soar in First Four Months
"The Blue Diamond-HL02 container ship, built by Ha Long shipyard company, is part of the shipping construction sector's exports to England. Exports across a range of sectors posted high growth during the first four months of the year. - VNA/VNS Photo Nguyen Dan
Ha Noi - Viet Nam earned a total export turnover of $14.5 billion during the first four months of the year, an increase of 22 per cent against the same period last year"
"As a new World Trade Organisation (WTO) member, Viet Nam enjoyed many new opportunities to expand Vietnamese goods across the world market, particularly to the US and EU markets which were restricted by quotas before WTO membership"
"During the past four months, the volume of Vietnamese goods exported to the US increased by 27 per cent, and to the EU by 28 per cent, accounting for about 20 per cent of the country's total export turnover"
"In the period under review industrial production earned VND 177,000 billion ($11 billion), an increase of 16.7 per cent compared with the same period last year"
"FDI capital flow reached more than $ 3.1 billion, an increase of 55 per cent over the first four months of 2006"
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November 7, 2006:
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Vietnam's Accession to the World Trade Organization
"A bilateral trade agreement between the United States and Vietnam on the terms of Vietnam's accession to the World Trade Organization (WTO) were agreed upon in 2001, resulting in lowered tariffs on goods traded between Vietnam and the United States, and the same favorable tariff rate applied to most favored nations such as Europe, Japan and other WTO members"
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December, 2003:
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AUSTRALIAN TECHNOLOGY HELPS MODERNISE THE MONETARY SYSTEM OF VIETNAM
"The State Bank of Vietnam issued new 50,000 and 500,000 dong polymer banknotes. At a press conference held by the State Bank, Governor Le Duc Thuy said that Vietnam decided on the change "to make the money structure more reasonable and to better fight against counterfeits". He also said the new Australian made polymer based notes were more durable, and to demonstrate he dipped one banknote into a glass of water. "People selling vegetables and fish in the market will be very happy with this money." he added to the amusement of those present"
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