PetroVietnam revenue falls 4 percent

Total revenue of the Vietnam Oil and Gas Group (PetroVietnam) in the first seven months of the year is estimated to fall 4 percent year-on-year due to an oil price decrease of around US$8.8 per barrel. This information was reported by PetroVietnam’s Deputy General Director Nguyen Vu Truong Son during …

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Indian businesses research Vietnamese investment

Vietnam’s India trade office has coordinated with the Federation of Indian Export Organisations (FIEO) on a New Delhi seminar discussing bilateral trade and investment opportunities. Nguyen Son Ha, the Vietnamese Embassy in India’s trade councillor, delivered a briefing on the Vietnamese economy, recent developments in bilateral trade relations, the implications …

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Exporters eager to follow Phu Quoc

The recen Protected Designation of Origin (PDO) recognition for the Phu Quoc fish sauce trademark in the EU has raised hopes for thousands of Vietnamese exporters of agricultural products. The fish sauce made on Phu Quoc Island in the country’s southwestern region is the first-ever Vietnamese product to be granted …

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Banks seek foreign partners

Many major commercial banks are making efforts to seek foreign strategic partners to sharpen their competitive edge, according to a report in Dau Tu (Investment) newspaper. Many major commercial banks are making efforts to seek foreign strategic partners to sharpen their competitive edge, according to a report in Dau Tu …

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Chinese steel uses tax loophole

Vietnamese steel makers continue to face difficulties in production and business because of fierce competition with Chinese steel products and over supply. Do Duy Thai, general director of Thep Viet Corporation that holds 61.7 per cent of shares at Pomina steel company, said 300,000 tonnes of steel had been imported …

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Japan helps develop Vietnam’s industrial strategy

Vietnam and Japan are working closely together to develop detailed action plans to carry out Vietnam’s industrialization strategy, as part of their co-operation agreement towards 2020 with a vision to 2030. Under the strategy approved by the Prime Minister earlier this month, Vietnam has defined six industries that will be …

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Exports to Germany surge

The two-way trade turnover between Vietnam and Germany reached US$3.695 billion in the first half of 2013, up 29.51% compared to the same period last year. According to the General Department of Vietnam Customs, export earnings from Germany reached US$2.352 billion (up 22.35% over 2012), accounting for 18 percent of …

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