E-commerce – an effective way of doing business

E-commerce now plays a vital part of Vietnam’s almost 5,000 export businesses, says the Ministry of Industry and Trade (MoIT). Vietnam exports electronic, mechanical, plastic, and wood products, motorbikes and spare parts, cigarettes, vegetables, spices, and toys to 53 countries in the Middle East and Africa while importing plastic materials, gas, steel and chemical substances [...]

Prices escalating, but people run out of coffee

The coffee price has climbed up to 29,000 dong per kilo, but farmers are not happy, because they have nothing to sell right now. Coffee price rising fast On June 29, 2010, the coffee price in the London market surged to an 18 month-high at $1710 per ton. At that time, the coffee export price [...]

Ministry tightens inspection of imported meat

The Ministry of Agriculture and Rural Development (MARD) has issued a new regulation calling for stricter meat import inspections. The new decree, which will take effect July 1, requires export countries to register their domestic businesses to meet hygiene demands with Vietnamese agencies. It stipulates that only these enterprises will be able to export meat [...]

Rivals challenge Vietnam in low class rice export

Vietnam, well known as the largest low class rice provider in the world, now has many redoubtable rivals in the market segment. Le Tuan, Chair of Vinh Long Import-Export Joint Stock Company (Inmex Cuu Long), has signed a contract to sell 10,000 tons of rice to Kenya. Every year, Kenya needs to import about 200,000 [...]

Superstition circulates in stock investment circles

Like other traders and businessmen, securities investors are also very superstitious. Some of them do not like the color red, while some others do not like the number four. “Any time I purchased 10,000 stocks, the stock price would drop in the next days,” an investor told a broker of the Hanoi Securities Company. “Therefore, [...]

US dollar price back up on black market

The dong/dollar exchange rate in the last few days in the black market and the rate quoted by commercial banks both have increased rapidly, surprising many people because the official interbank exchange rate has been stable. The interbank dong/dollar exchange rate announced by the State Bank of Vietnam (SBV) has remained firmly at 18,544 dong [...]

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