Hanoi CPI up 1.22 percent

The October consumer price index (CPI) in Hanoi surged 1.22 percent month on month, the highest rate since March this year, reported the Hanoi Statistics Office.

Strongest increases were seen in restaurant and food services, 2.50 percent, followed by housing, electricity, fuel and construction materials, 1.35 percent against September.

According to experts, a large number of visitors to Hanoi during the capital city’s millennial anniversary pushed up prices of food and drink services, while the prices of post and telecommunication services remained unchanged.

Gold surged 8.14 percent over the previous month due to the increase in the world’s gold price while the US dollar value rose by 0.85 percent.

Volume up, shares off in HCM City

The Wall Street rally overnight could not prevent the VN-Index from shedding 0.73 percent on Oct. 19 to close at 454.25.

About 198 of 268 listed stocks on the HCM City Stock Exchange declined will – 22 hitting the floor price. They were Hari Hamico Mineral (KSS), down 1.5 percent to 29,400 VND; Sao Vang Rubber (SVR) and Tai Nguyen Corp (TNT), each down 1.2 percent to 24,300 VND and 23,500 VND, respectively.

Only three blue chips managed to gain, including property trader Vincom (VIC), up 3.17 percent; Masan Group (MSN), up 0.9 percent; and Bao Viet Holdings (BVH), up 0.79 percent. Foreigners were the main force behind stock rallies, buying 187,190 BVH shares, 97,250 VIC shares and 23,630 MSN shares.

Total volume on the day's trade on the southern market rose to 32 million shares, worth 880.2 billion VND (45.1 million USD).

In Hanoi , the HNX-Index surged 1.96 percent to 116.56 points, with decliners outnumbering advancers by 253 to 39.

No blue chips gained, while only two stocks hit the ceiling – Hanoi Textbooks Printing (TPH), up 0.5 percent to 8,700 VND; and PetroVietnam Southern Gas (PGS), up 2.5 percent to 38,300 VND.

Volume of trade reached 27.8 million shares, up from 17.3 million on October 18, posting a turnover of 587.5 billion VND (44 million USD).

Foreigners continued to be net-buyers, accumulating a total of 2.3 million shares on the two bourses, worth 88.1 billion VND (4.5 million USD).

Vietnam industry investor survey launched

The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI) and the United Nations Industrial Development Organisation (UNIDO) launched the Vietnam Industry Investor Survey 2010 in Hanoi on October 19.

Surveys will be conducted in the nine cities and provinces in Vietnam where most foreign direct investment and domestic enterprises are located.

The sample surveys will be carried out at 1,644 manufacturing, utility and construction enterprises randomly selected from Hanoi city, Hai Phong city, Vinh Phuc, Bac Ninh, Da Nang city, Ho Chi Minh City, Dong Nai, Binh Duong and Ba Ria-Vung Tau.

The survey findings will be consolidated on the web-based interactive “Vietnam Investment Monitoring Platform” which allows relevant enterprises and individuals to make enquiries to better understand the characteristics of Vietnam’s investment environment.

Do Nhat Hoang, General Director of FIA emphasised that through the programme, enterprises would have the opportunity to get free access to business partners, suppliers and potential customers who have been taking part in the UNIDO international network of Investment and Technology Promotion Offices.

According to a representative of UNIDO, the survey will help policy makers generate systematic evidence in assessing the impact of foreign investment sector on the development of Vietnamese economy, especially in the industry sector.

The survey also provides an analysis of the dynamics of enterprises’ performance and enhances the State institutions’s capacity in investment promotion and investment climate improvement.

Over the next two years, similar surveys will focus more broadly on other sectors of the economy, aiming to design more efficient policies in investment attraction through MPI.

Viet Nam to oversupply fertiliser

The fertiliser industry's production capacity is likely to surpass the country's domestic demand by 1.7-2 million tonnes per year from 2010 to 2015, reported the Ministry of Agriculture and Rural Development.

Imported and domestically produced fertilisers are sold on the market in Viet Nam. Therefore, domestically produced fertilisers should be exported in the future.

Little developer with big plans lists shares

The Hoang Quan Real Estate Corporation (HQC) will make its debut on the HCM City Stock Exchange today, listing all its 40 million shares.

The company, with a charter capital of VND400 billion ($20.5 million), mainly runs businesses in investment, trade, design, high-rise building constructions, and price assessment.

In the 2010-2020 period, the company aims to earn net profits of more than VND200 billion ($10.2 million) per year, he said.

This year, it plans to achieve net profits of VND120 billion ($6.1 million) on VND450 billion ($23.07 million) in revenues from leasing contracts in the Binh Minh and Ham Kiem1 industrial zones in the fourth quarter of this year. Together with projects like the Cheery Apartment, Binh Minh residential area and Hoang Quan Ecological Villas, the firm is confident of meeting its set targets.

At present, Hoang Quan has 10 affiliates and representative offices in America, Netherlands and Taiwan. The real estate firm also has a network of large trading floors in HCM City, Vinh Long, Can Tho and Binh Thuan provinces.

It has been implementing several major projects including: the 132ha Binh Minh Industrial Zone; the 30ha Binh Minh residential area; the 146ha Ham Kiem 1 Industrial Zone; the 19,000 sq.m 12-storey Cheery Apartment building; the 3.76ha Hoang Quan Plaza with five apartments and two office blocks; and the 4.5ha Hoang Quan ecological villas.

Besides, the company has also invested in the educational sector with projects like the Long An Industrial Economic University, Tay Nam A Technical Economic Vocational School and Cuu Long Dong Bang University urban area.

It plans to open a stock trading firm, a financial company and a bank by 2020, Tuan said.

Laos Airlines reopens Pakse-HCM City route

Lao Airlines, in co-operation with Champasak province, launched a new flight route yesterday from Vientiane-Pakse to HCM City.

The flights on the new route will be available on Tuesdays, Thursdays and Saturdays. The new route aims to promote trade and tourism between Viet Nam and Laos.

Champasak province's chief Sonxay Siphandon said that Champasak province needs support from industries in HCM City, including the agriculture, health care and telecommunications sectors.

Le Thanh Hai, the secretary of the HCM City party committee, said that the new route would help develop relations between the two countries. The first Pakse-HCM City flight route was discontinued in 2003.

Source: VNA