Phu Nhuan Jewelry Joint Stock Company (PNJ) opened a VND100-billion jewelry factory in HCMC’s Go Vap District on Thursday. The plant covers 3,500 square meters and has six levels with total floor space of 12,500 square meters. It has 1,000 workers with an annual capacity of more than four million products. Cao Thi Ngoc Dung, general director of PNJ, said the most valuable asset of the plant... 

The local gold price hit a new record high of VND39.42 million on Monday afternoon as the global gold price on Asian markets on Monday breached the level of US$1,600 a troy ounce. This price was VND300,000 per tael higher than last Saturday. A tael equals to 1.2 troy ounces. As the price increased strongly, gold companies saw few customers buying on the day. A representative from Phu Nhuan Jewelry... 

The local gold price hit the record high of VND39.1 million per tael over the weekend in line with the global gold price that also reached its highest level on the last trading session last week. Saigon Jewelry Co. (SJC) on Saturday afternoon quoted its selling price at VND39.04 million per tael, rising VND100,000 per tael from the previous day. Meanwhile, Phu Nhuan Jewelry Co. quoted the selling... 

New government policies on banning gold deposits and credits from May 1, this year and limiting gold plate transactions shortly, as well as tight forex policies are pushing private equity investment funds to turn their interest towards enterprises in consumer-driven sectors. Mekong Capital principal Pham Vu Thanh Giang talks about the impact of the polices on its investees. As the government changes... 

Since May 1, commercial banks cannot lend gold even for jewelry production under new regulation of the central bank that may put jewelry companies in jeopardy. The boss of a large jewelry company said the firm usually accepted loans in gold from banks to produce jewelry – and capital from banks accounted for a considerable proportion of the company’s total capital. He said the State Bank of... 

Domestic gold price yesterday steadily hovered around VND38 million ($ 1,853) per tael, ignoring the zigzagging Comex world gold price. Shops in Hanoi and HCM City trading bullion branded by Saigon Jewellery, Sacombank, Bao Tin Minh Chau Jewellery, Agribank Jewellery and Phu Nhuan Jewellery, quoted buy/sell prices at VND37.90-38.10 million per tael yesterday, unchanged on close prices last week. (One... 

Phu Nhuan Jewelry Joint Stock Co has started work on Vietnam’s largest jewelry production plant with an annual capacity of 4 million products in Ho Chi Minh City. The VND100 billion ($4.8 million) plant, designed by DongALand Real Estate Joint Stock Co, covers 12,500 square meters in Go Vap District. It is expected to finish by January 2012. Another HCMC-based jewelry firm, Saigon Jewelry... 

HCMC – Ho Chi Minh City, the country’s biggest tourism center, last Saturday announced the best travel firms, hotels, travel websites, shopping venues and tourism service providers in the city. Four businesses – Saigontourist Travel Service, Fiditourist, Ben Thanh Tourist and Vietravel – are all included in the lists of the top 10 inbound companies, 10 outbound companies and 10 domestic companies. All... 

Conflicting information on attempted gold management policies is confusing people and preventing them from making investment decisions at the moment. The domestic gold market has been heating up since February 24, immediately after the government released Resolution No 11 stipulating measures to curb inflation and stabilize the macro economy, and new measures to be applied to the gold market. In the... 

HCMC – Vietnamese people are in a rush to purchase gold rings for fear the Government may ban the trading of gold bars that have long been traditionally kept as a safe-haven asset by the population. In a resolution adopted on February 24 to introduce measures for inflation control and macro economic stabilization, the Government mentions the possibility of doing away with gold bar trade which is...