Vietnam Business News

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• Vietnam economic situation in eight months of 2010
• Indian coffee planters lose out to Vietnam, Philippines
• Bankers say it’s hard to spur credit in rest of year
• Banks’ profits shrink after auditors’ review
• IMF warns Vietnam against rapid rate cuts
• Vietnam faces exchange risks : Standard Chartered
• Lending rates to stock investors, consumers stay high
• SBV calls for lower rates may damage confidence, IMF says
• Vietnam’s reserves dip to $13.85 Bln in March : IMF
• RoK businesses focus on Vietnam

Vietnam economic situation in eight months of 2010 Posted: 09 Sep 2010 12:57 AM PDT Agriculture, forestry and fishery Agriculture As of mid-August, the country has had 1,416,900 ha of winter rice cultivated, equal to 96.8% of the same period last year, of which provinces in the North cultivated 1,171,900 ha, equal to 100.1%, provinces in the Red River Delta and  North Center has finished their cultivation; provinces in the South has cultivated 245,000ha, equal [...]

Indian coffee planters lose out to Vietnam, Philippines Posted: 09 Sep 2010 12:29 AM PDT The Indian coffee industry may face a tough time ahead due to emergence of low-cost producers like Vietnam, the Philippines and other south-east Asian nations. The Indian coffee industry may face a tough time ahead due to emergence of low-cost producers like Vietnam, the Philippines and other south-east Asian nations. "The cost of cultivation for Indian coffee [...]

Bankers say it’s hard to spur credit in rest of year Posted: 09 Sep 2010 12:27 AM PDT Many banks say credit growth in the rest of this year will not accelerate as expected due to restrictive regulations, the limited current capital for lending as well as difficulties in looking for good borrowers. Many banks say credit growth in the rest of this year will not accelerate as expected due to restrictive regulations, the [...]

Banks’ profits shrink after auditors’ review Posted: 09 Sep 2010 12:27 AM PDT Many banks have seen their profits shrink substantially after auditors made reviews on their consolidated half-year financial reports. Many banks have seen their profits shrink substantially after auditors made reviews on their consolidated half-year financial reports. Saigon Thuong Tin Commercial Bank (Sacombank) saw its after-tax profit reduced by 35.5% to VND415.32 billion after its half-year financial report [...]

IMF warns Vietnam against rapid rate cuts Posted: 09 Sep 2010 12:26 AM PDT The IMF warned Vietnam on Wednesday that it risks hard-won market stability by trying to cut lending rates too fast, and said it should maintain the level of the dong currency to safeguard financial calm. The IMF warned Vietnam on Wednesday that it risks hard-won market stability by trying to cut lending rates too fast, and [...]

Vietnam faces exchange risks : Standard Chartered Posted: 09 Sep 2010 12:24 AM PDT Although Vietnam has been positive in maintain economic growth and macro stability, the exchange rate risks remain concerns for the time being, the Standard Chartered bank said in its recent report. Although Vietnam has been positive in maintain economic growth and macro stability, the exchange rate risks remain concerns for the time being, the Standard Chartered [...]

Lending rates to stock investors, consumers stay high Posted: 09 Sep 2010 12:23 AM PDT Interest rates for stock and consumer loans in August mostly ranged from 16% to 20% per annum, while deposit and other lending interest rates stayed flat, said the State Bank of Vietnam (SBV) in its latest press release. Interest rates for stock and consumer loans in August mostly ranged from 16% to 20% per annum, while [...]

SBV calls for lower rates may damage confidence, IMF says Posted: 09 Sep 2010 12:23 AM PDT The State Bank of Vietnam (SBV)'s "repeated" calls for commercial banks to lower their lending rates after setting tighter monetary policy may damage market confidence, the International Monetary Fund said. The State Bank of Vietnam (SBV)'s "repeated" calls for commercial banks to lower their lending rates after setting tighter monetary policy may damage market confidence, the [...]

Vietnam’s reserves dip to $13.85 Bln in March : IMF Posted: 09 Sep 2010 12:20 AM PDT Vietnam’s international reserves hit $13.85 billion by the end of March this year, a 42% slump from the end of 2008, figures compiled by the International Monetary Fund show. The figure confirms that Vietnam’s reserves continued to fall well into this year as the dong remained under pressure against the dollar. The State Bank of Vietnam, the [...]

RoK businesses focus on Vietnam Posted: 09 Sep 2010 12:19 AM PDT RoK businesses focus on Vietnam Businesses from the Republic of Korea (RoK) see Vietnam as a promising market for their investments and intend to maintain their position as Vietnam's number one foreign investor. The Director of the ASEAN-RoK Centre (AKC) for Planning and Development, Jae Hyun Cho stated this at a workshop on trade and investment [...]

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