Vietnam Business News

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• Formosa group pours extra $7b in Vung Ang EZ
• Need to reassess retail distribution market
• Imbalance in bank deposit and lending growth
• Singapore to help Vietnam develop cruise tourism
• Quality of credit should be prioritised instead of credit balance
• Careful considerations needed when applying for instalment loans
• Vietnam mulling over US$11.21B petrol distribution network by 2025
• Vietnam CPI likely to rise 0.2%-0.25% in Aug
• Vietnam industrial parks remain unattractive to investors
• HCMcity Jan-Jul pledged FDI up 45.1% to US$1.1B

Formosa group pours extra $7b in Vung Ang EZ Posted: 06 Aug 2010 03:40 PM PDT Taiwan-based Formosa Group will pour extra $7 billion to raise its investment in the Vung Ang Economic Zone from $16 billion to $23 billion, Ngo Quoc Hung, the group’s general director stated. According to Hung, the additional capital will consist of equity capital and loans from foreign banks but not from Vietnam’s banks. After preparing the ground, [...]

Need to reassess retail distribution market Posted: 06 Aug 2010 03:40 PM PDT Vietnamese distribution market needs to be assessed. It was recommended by specialists at the workshop “the impact of opening the market to goods distribution network after WTO entry” held on August 5 in Hanoi. Nguyen Thi Hoang Thuy, vice head of Multilateral Trade Policy Department (Ministry of Industry and Trade) said after the accession to World [...]

Imbalance in bank deposit and lending growth Posted: 06 Aug 2010 03:39 PM PDT The growth rate of total payment means, credit and mobilised capital of the commercial banking system continued to rise in July, according to the report on socio-economic development in July and seven months by the Ministry of Planning and Investment at the government’s regular meeting yesterday. The MPI report indicated that the total means of payments [...]

Singapore to help Vietnam develop cruise tourism Posted: 06 Aug 2010 03:38 PM PDT A group of entrepreneurs from the Singapore Tourism Board (STB) will arrive in Vietnam for a survey trip this week to help develop the local cruise tourism, said Nguyen Anh Tuan, deputy head of the Travel Department under the National Administration of Tourism (VNAT). This is the second survey trip by Singaporean tourism experts to the [...]

Quality of credit should be prioritised instead of credit balance Posted: 06 Aug 2010 03:38 PM PDT Lending rate could not be lowered to below 12 percent per annum, said Dr Nguyen Quang A, former president of Institute of Development Studies (IDS). This is because tools to regulate the capital on the market are at low levels. Further reduction may not happen. There have been differing views on the leading global rating agency [...]

Careful considerations needed when applying for instalment loans Posted: 06 Aug 2010 03:37 PM PDT Many banks and credit institutions have been offering various incentive programmes to promote consumer loans. However every thing is not rosy. Due to lack of information among borrowers, many people have fallen into difficulties by unexpected situations. Abundant offerings Banks have been promoting many different types of consumption loans to attract customers. In particular, Techcombank has been [...]

Vietnam mulling over US$11.21B petrol distribution network by 2025 Posted: 06 Aug 2010 03:33 PM PDT Vietnam is considering a plan to invest US$11.21 billion to build a petroleum distribution network in the 2010-2020 period with a vision for further development through 2025. Of the sum, an investment of US$3.33 billion is planned for the 2010-2015 period and US$7.87 billion for the 2016-2025 period, according to Petrolimex Engineering Joint Stock Company (PEC), [...]

Vietnam CPI likely to rise 0.2%-0.25% in Aug Posted: 06 Aug 2010 03:30 PM PDT Vietnam's consumer price index in August is forecast to increase between 0.2% and 0.25% from July, driven by higher costs of various essential commodities, the Price Management Department under the Ministry of Finance said. The department attributed the price hike to the fact that storm season is approaching and blue-ear disease has not yet been put [...]

Vietnam industrial parks remain unattractive to investors Posted: 06 Aug 2010 03:28 PM PDT Investment flows into Vietnamese industrial parks (IPs) and export processing zones (EPZs) have sharply dropped over the past recent years, which proved their unattractiveness to investors, according to experts. Twelve 12 IPs and three EPZs in Ho Chi Minh City licensed a total 12 projects in the first half of this year, or less than one [...]

HCMcity Jan-Jul pledged FDI up 45.1% to US$1.1B Posted: 06 Aug 2010 03:26 PM PDT Ho Chi Minh City, Vietnam's southern economic hub, licensed 200 foreign direct investment (FDI) projects totaling US$1.1 billion in the first seven months of this year, up 45.1% from a year earlier. During the period, the city allowed 51 existing projects to raise their capital by US$90.6 million. In July, the metropolis licensed 34 projects capitalized at [...]

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