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INVESTORS POLLWhich city would you rather do business in ? Hanoi 22% Ho Chi Minh City 39% Da Nang 17% Hai Phong 22% Total votes: 18 |
PetroVietnam to Control Rising Fuel CostsMay 12 - State-owned, PetroVietnam announced efforts to control rising fuel and fertilizer costs by increasing domestic natural gas production and finding cheaper import alternatives.In a press conference, the company vowed to cut waste and concentrate in its core business, saving an estimated VND550 billion (US$34.4 million). "PetroVietnam will still inject capital into key projects for ports, warehouses and shipping fleets, but it will cease putting capital into real estate construction projects and other less-effective projects," management board member, Phan Thi Hoa, told VNS. He said the company would review all projects and direct capital only to highly-prioritized projects. Read the rest of this article Vietnam Car Sales Increase By 181 PercentMay 12 - The Vietnamese Automobile Manufacturers’ Association (VAMA)reports that car sales for the first four months of the year increased by 181 percent led by a rise in the commercial car segment. The 16-member VAMA announced combined sales of 47,366 units for the period. Vinamotor sold the most number of units sold at 11,230, followed by Toyota with 7,896 and and Truong Hai with 7,492. Commercial car sales rose by 313 percent with 29,745 units sold, while passenger car sales went up 105 percent with 7,791 units. For April, automobile sales jumped to 13,271 units, an increase of 183 percent. Car dealers attribute the increase in sales with consumers shifting from motorcycles to cars and government plans to hike special consumption tax to 50-70 percent by the year's end. Read the rest of this article
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