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rffrydr
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 Posted: Wed Mar 16, 2011 7:35 pm Post subject: |
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With over 7% of the freefloat owned by japanese retail investors Vietnam stands to take the brunt of the repatriation.
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rffrydr
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| Posted: Thu Mar 10, 2011 6:19 am Post subject: |
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90 million pop vs. 900 million working chinese. Textiles are still a chinese story.
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HenryTo
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HenryTo
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| Posted: Fri Jan 15, 2010 6:55 am Post subject: |
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Once Schumpeterian growth comes back in the US, investors will be more discriminating, especially when it comes to countries such as Vietnam:
http://www.time.com/time/world/article/0,8599,1953909,00.html?xid=rss-world-yahoo
| Quote: | This isn't the first time that Vietnam has detained staff from a foreign company after losing money. In 2006, the Vietnamese government arrested four employees of ABN AMRO, a Dutch bank, for fraud after the government lost money on a foreign currency contract. To end the dispute, ABN AMRO paid $4.5 million to a Vietnamese state-owned bank, apparently to secure the release of the four Vietnamese employees who faced the death penalty. Many investors hoped this was a small bump on the path to further economic reforms, and it didn't slow Vietnam's entry into the World Trade Organization in early 2007.
This week, however, the Civil Aviation Administration of Vietnam (CAAV) has drummed up new charges against Jetstar Pacific, in addition to its investigation of Darsilli and Freeman. On Wednesday, state-media reported that Jetstar Pacific had violated maintenance regulations and concealed broken aircraft parts. A Qantas spokesperson said that at all times the planes had met regulatory requirements and that the CAAV brought up only "quality, not safety concerns." Thayer, however, predicts that Vietnam will try and continue to try to find small oversights to "extort" Qantas like they did ABN AMRO more than three years ago. "They just find one little mistake and the foreigner is wrong," he says.
Still, Vietnam remains a potentially lucrative growth market that had a stronger than expected showing at the end of 2009, and it remains to be seen if the Jetstar Pacific imbroglio will significantly deter new foreign investors. Even though Communist hardliners have clamped down on some freedoms, the government nonetheless promised in November it would soon allow foreigners to own 49% of local businesses, up from 30%. As Vietnam's Communist Party encourages economic growth without wanting to let go of power, it's only setting itself up for more clashes with foreign partners. |
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HenryTo
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rffrydr
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| Posted: Wed Nov 25, 2009 8:41 am Post subject: |
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| Quote: | Howard Simons
Dong Dinged
11/25/2009 7:38 AM EST
Vietnam is devaluing the dong by 5.2% to bring the official rate more in line with the black market rate ("black market" is a misnomer; it should be called "the market"). It is also raising its benchmark rate to 8%; Vietnamese bonds rallied on the news while the Ho Chi Minh City stock index fell 4.50%.
Vietnam is a small market with limited capacity to absorb large capital inflows. It would not fare very well with large capital outflows, though. The sort of action we see here is another warning sign of the imbalances our policy of near-0% interest rates is causing globally. As countries such as Israel, Australia, Norway and now Vietnam raise rates and countries such as Brazil and Taiwan move to impede capital inflows, the world is set up for the next wave of rock-and-roll.
The dong may be low-profile on everyone's radar screen. So was the Thai baht in 1997. Small countries can be like miners' canaries. The Market Vectors Vietnam fund has been retreating in anticipation of such a move. |
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HenryTo
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HenryTo
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| Posted: Thu Jun 04, 2009 12:07 pm Post subject: |
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Significant breakthrough for Vietnam. Country opens its first deepwater container terminal - allowing the country to directly ship goods to the US for the first time (and significantly driving down transportation costs):
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First cargo ship sails on direct Vietnam-US route AFP - Thursday, June 4
HANOI (AFP) - – The first cargo ship directly linking Vietnam to its biggest export market in the United States set sail Thursday, the shipping firm and a port worker said.
The worker at the new Saigon Port-PSA terminal in southern Vietnam said the APL Denver had left on its 15-day journey to the US west coast city of Seattle.
It is the "first ever direct service to the US" from Vietnam, company spokesman Paul Barrett told AFP, adding that US-bound cargo was previously routed through Singapore.
The service began days after the Saigon Port-PSA facility opened, becoming the first deepwater container terminal serving the southern commercial hub of Ho Chi Minh City, said APL, a unit of Singapore-based Neptune Orient Lines.
"With this port, the first direct shipping service from Vietnam to North America is possible," Vietnam's deputy transport minister, Tran Doan Tho, was quoted as saying in the state Vietnam News at the weekend.
Previously, Vietnam's exporters have had to rely on small feeder vessels to connect with larger ships for access to the worlds major consuming markets, APL said.
The shipping firm's president, Eng Aik Meng, has said the start of a direct US service is recognition that Vietnam "is delivering on its commitment to modernise transportation infrastructure such as state-of-the-art port facilities capable of handling large deepwater containerships."
Officials and industry figures attended a ceremony on Wednesday to launch the service, which will run weekly, from the new port on the Cai Mep River in Ba Ria-Vung Tau province. |
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