Vietnam Business News

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• Vietnam central bank urged to cut credit risk provision ratio
• Vietnam’s Vinashin sells 4 ships worth $110 million
• Hanoi clamps down on Internet cafes
• Committee set up to restructure giant Vinashin
• Vietnam shrimp exporters to appeal against DOC antidumping duty
• Vietnam remains attractive for foreign investors
• Dung Quat EZ rakes in US$218 million from exports
• State construction giant to make IPO
• Bottom-catching buys lift indices
• Int’l pharmaceutical expo comes to City

Vietnam central bank urged to cut credit risk provision ratio Posted: 14 Aug 2010 06:45 PM PDT The Vietnam Banks Association (VNBA) has proposed the State Bank of Vietnam (SBV) to cut credit risk provision ratio of commercial banks to 0.5% from current 0.75%, in a move to facilitate local lenders to cut interest rates. The Vietnam Banks Association (VNBA) has proposed the State Bank of Vietnam (SBV) to cut credit risk provision [...]

Vietnam’s Vinashin sells 4 ships worth $110 million Posted: 14 Aug 2010 06:43 PM PDT Vietnam Shipbuilding Industry Group sold four newly-built ships worth almost $110 million, as the government tries to restructure and stabilize the state-owned company that almost went bankrupt due to losses. The shipbuilder, also known as Vinashin, is trying to complete ongoing ship-building projects, according to a statement on the government's website Friday. Vietnamese leaders requested the company [...]

Hanoi clamps down on Internet cafes Posted: 14 Aug 2010 06:42 PM PDT Authorities in the Vietnamese capital are clamping down on Internet cafes in what they say is a bid to address online gaming addiction and inappropriate content. Internet shops within 200 metres (220 yards) of schools must shut down this month, the official Hanoi city website said late Friday. In addition, “technical measures” should be implemented to suspend [...]

Committee set up to restructure giant Vinashin Posted: 14 Aug 2010 06:39 PM PDT Prime Minister Nguyen Tan Dung has decided to establish a steering committee for restructuring the country's largest ship builder, Vinashin, to help it rapidly stabilise and develop after financial problems. Under a decision signed on August 13, the PM appointed Deputy PM Nguyen Sinh Hung as head of the committee, Deputy PM Hoang Trung Hai as [...]

Vietnam shrimp exporters to appeal against DOC antidumping duty Posted: 14 Aug 2010 02:09 AM PDT Some Vietnamese firms will appeal against the latest imposition of higher anti-dumping tariffs by the U.S. Department of Commerce (DOC) on their exports of frozen shrimp to the North America market. Tran Van Linh, vice chairman of the Vietnam Association of Seafood Exporters and Producers (VASEP), said these firms were disappointed with the DOC's decision to [...]

Vietnam remains attractive for foreign investors Posted: 14 Aug 2010 02:09 AM PDT Major changes over the past three decades have made Vietnam become an attractive destination for tourists and investors worldwide, according to a report of Research and Markets Company. The company explained that Vietnam's renewal process since 1986, which is considered as the greatest transformation of the country from its reunification, makes foreign investors understand about Vietnam. Vietnam’s [...]

Dung Quat EZ rakes in US$218 million from exports Posted: 14 Aug 2010 02:09 AM PDT So far this year, Dung Quat Economic Zone in central Quang Ngai province has earned US$218 million from exporting goods. Major exports are Propylen, PP plastic articles, paper materials, machinery and equipment, wooden products and garments. Nearly 4 million tonnes, of imports and exports have been handled via Dung Quat Port, bringing the zone's budget revenue [...]

State construction giant to make IPO Posted: 14 Aug 2010 02:00 AM PDT The State-owned Viet Nam Industrial Construction Corporation will offer 8.8 million shares in an initial public offering, following Government approval issued on Thursday. The offered shares will represent 16.01 per cent of the corporation’s charter capital. Meanwhile, the State will retain 75 per cent, equivalent to 41.25 million shares. The Government also appointed the Ministry of Industry [...]

Bottom-catching buys lift indices Posted: 14 Aug 2010 01:59 AM PDT Increased buy orders on the HCM City Stock Exchange in the latter half of yesterday’s session helped the VN-Index regain the 450-point level, to end the week at 452.73, an increase of 0.93 per cent over Thursday’s close. The session opened in negative territory, with VN-Index dropping to an eight-month low of 440.72 points, but increased [...]

Int’l pharmaceutical expo comes to City Posted: 14 Aug 2010 01:59 AM PDT More than 100 enterprises from 20 countries and territories will be attending the 10th Sai Gon Medi-pharmaceutical Expo in HCM City from August 18-21. This year, Vietnamese businesses will be displayed at about half of the 250 pavilions, with well-known brands – such as Dong Thap Pharmaceutical Joint Stock Company, Hau Giang Pharmaceutical Joint Stock Company, [...]

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