Vietnam Business News

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• Electricity supply to remain difficult in Aug
• 2010 GDP growth may exceed 6.5pct
• Capital shortage slowing progress of industrial projects
• Private firms allowed to re-borrow ODA capital
• Four big banks asked to report lending for infrastructure projects
• Dong deposit and lending rates down in July
• Blue-ear pig disease spreads to 17 localities
• Cashew nut exports pick up
• Vinh Tan 2 thermo-electric power plant under construction
• Job promotion scheme launched in Hanoi

Electricity supply to remain difficult in Aug Posted: 08 Aug 2010 11:42 PM PDT Electricity supply will remain difficulties in August and the electricity system will not be able to supply enough electricity, said Electricity of Vietnam (EVN) on August 5. The difficulty is mostly blamed on stoppage by plants for repairing and lack of water for operation. Total output volume in August estimated to gain over 300 million kWh per [...]

2010 GDP growth may exceed 6.5pct Posted: 08 Aug 2010 11:40 PM PDT "Economic growth in coming time is likely to reach higher levels against previous months and be able to even surpass the year's target of 6.5%," Ministry of Planning and Investment (MoPI) said in a report on socio-economic development in July and first seven months at the government’s regular meeting. According to MoPI, the total export turnover [...]

Capital shortage slowing progress of industrial projects Posted: 08 Aug 2010 11:40 PM PDT Capital shortage is causing slow progress of many big projects in the industrial sector. As per an initial plan, DAP Hai Phong factory this year was to provide about 290,000 tonnes of products to the market against a capacity of 330,000 tonnes a year. But, till the end of July, the factory just produced 75,000 tonnes, [...]

Private firms allowed to re-borrow ODA capital Posted: 08 Aug 2010 11:37 PM PDT The government has issued regulations on requirement, procedures and responsibility of agencies, organisations and individuals in re-lending the government's foreign loans, scheduled to take effect from August 30, 2010 in line with Decree No 78/2010/ND-CP dated July 14, 2010. Accordingly, to re-lend official development assistance (ODA) loans the private firms have to be used projects in [...]

Four big banks asked to report lending for infrastructure projects Posted: 08 Aug 2010 11:36 PM PDT State Bank of Vietnam (SBV) on August 5 issued a Dispatch No 5851/NHNN-TD asking Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank), Vietnam Bank for Industry and Trade (VietinBank), Bank for Agriculture and Rural Development (Agribank) and Bank for Investment and Development of Vietnam (Bidv) to report about lending activities for infrastructure investment projects. Accordingly, [...]

Dong deposit and lending rates down in July Posted: 08 Aug 2010 11:36 PM PDT The benchmark of deposit and lending rate in dong in July tended to fall, of which dong saving rate fell by 0.2-0.4%/year to around 11-11.2%/year, (the lowest level was 10.6%/year), State Bank of Vietnam (SBV) reported. The dong lending rate also fell by 0.5-1.5%/year. Currently, the short term lending rate for three prioritised sectors (agriculture production [...]

Blue-ear pig disease spreads to 17 localities Posted: 08 Aug 2010 09:27 PM PDT By August 8, 17 cities and provinces confirmed outbreaks of blue-ear pig disease, according to the Department of Animal Health under the Ministry of Agriculture and Rural Development (MARD). On August 7, the Hau Giang provincial Department of Animal Health sent a report to the MARD stating that samples taken from pigs at farms in Hiep [...]

Cashew nut exports pick up Posted: 08 Aug 2010 09:26 PM PDT Businesses are buying large quantity of cashew nuts for export in the second half of the year, according to the Vietnam Cashew Association. In the first seven months of the year, they already bought 417 million tonnes of cashew nuts, including 300,000 tonnes from the domestic market and exported 98,000 tonnes of processed products, earning more [...]

Vinh Tan 2 thermo-electric power plant under construction Posted: 08 Aug 2010 09:26 PM PDT Construction of the Vinh Tan 2 thermal power plant began in Tuy Phong district, Binh Thuan province on August 8. Speaking at the inauguration ceremony, Deputy Prime Minister Hoang Trung Hai asked the Ministry of Industry and Trade to direct related agencies to conclude negotiations for the Vinh Tan 1 and Vinh Tan 3 plants as [...]

Job promotion scheme launched in Hanoi Posted: 08 Aug 2010 09:24 PM PDT The Hanoi municipal administration has approved a programme to generate 705,000 jobs, including 23,000 abroad, for the 2011-15 period. The scheme comes from the pressure of a boom in workforce, which, as forecast by the municipal Service of Labour, Invalids and Social Affairs, is to reach 4.6 million by 2015, or 90,000 new comers in each [...]

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