January 19, 2012 (Vietnamica) — Foreign direct investment in Indonesia increased by over 20 percent (WSJ) in 2011, a number that is expected to grow following credit rating agency Moody’s decision this week to lift the country’s sovereign rating back to investment grade.
Vietnam’s Agricultural Commodities in 2011January 10, 2012 (Vietnamica) — According to the Ministry of Agriculture and Rural Development, in 2011, exports of forestry, aquaculture, and agriculture products yielded a turnover of US$25 billion, an increase of US$5 billion over 2010. The agriculture, forestry and seafood sector gained a trade surplus of US$9 billion, successfully opened new export markets, and enjoyed a year-on-year increase of 27 percent (VNS, Jan. 4).
December 27, 2011 (Vietnamica) – Automobile joint ventures in Vietnam have warned the host government of cutting production since local authorities in Hanoi capital and Ho Chi Minh city have decided to raise car consumption tax and registration fee (Vietnamnet Bridge, Dec. 27). Commencing on Jan. 1, 2012, consumption tax on less-than-10-seat car will increase from current 12 percent to 20 percent in Hanoi and 15 percent in HCMC. Registration fee will hike to VND20 million (US$1,000) from current level of VND2 million (US$100).
December 16, 2011 (Vietnamica) — Sport market gold prices briefly touched $1600 an ounce Friday lunchtime in London – 2.3% up on this week’s lows – while stocks and commodities were broadly flat compared to Thursday’s closing prices. “Physical market demand continues to improve,” says Walter de Wet, commodities strategist at Standard Bank.
Vietnam Coffee Beans Trade Same Prices in London, Indonesia Crop FloweringNovember 26, 2011 (Vietnamica) — Volcafe – the coffee unit of trader ED&F Man Holdings Ltd. – unveiled that Vietnamese coffee beans are trading at the same prices in London, erasing a discount of US$20 a metric ton last week (Bloomberg, Nov. 25). Coffee exports from Vietnam may have fallen 28 percent this month as traders waited for the harvest to gather pace before signing contracts. According to the General Statistics Office of Vietnam, shipments may total 50,000 tons in November, compared with 69,000 tons a year earlier.
November 20, 2011 (Vietnamica) — Coffee beans from the season started in October in Vietnam, the world’s largest producer of the robusta, will reach Europe by mid-December at the earliest, helping erode stockpiles, Volcafe said (Bloomberg, Nov. 18). Vietnam will produce a record 22 million bags of 60 kilograms (132 pounds) in the 2011-12 season, up from 20 million bags in 2010-11, the Winterthur, Switzerland-based trader estimated in its latest quarterly report.
