Vietnam Business News

---

• 23 small banks need to raise at least VND32.447Tln this year
• ABS fund to lend selective local SMEs $180,000 interest free
• Waiting with baited breath
• UK firm builds $30 mln shoes plant in Tien Giang
• Kia Motors recall has ripple effect locally
• Local wholesale steel prices fall VND150,000/Ton
• Ocean Group signs contract to realise Song Bac hydropower plant project
• Fraser Suites manages Hanoi-based Modena hotel & apartments
• Vanishing act for property US dollars
• Investment licences for many large FDI projects to be revoked

23 small banks need to raise at least VND32.447Tln this year Posted: 20 Sep 2010 10:13 PM PDT As many as 23 local small banks must raise at least VND32.447 trillion,or roughly $166.5 billion to meet the requirement of a minimum of VND3 trillion by the State Bank of Vietnam (SBV), the country's central bank, by 31 December, SSI Reseach said. As many as 23 local small banks must raise at least VND32.447 trillion,or [...]

ABS fund to lend selective local SMEs $180,000 interest free Posted: 20 Sep 2010 10:12 PM PDT US Asset-Backed Securities (ABS) fund will provide Vietnam's small and medium-sized enterprises (SMEs) a total loans of $180,000 interest free provided that they meet specific conditions under the lending project, the local newswire Tuoi Tre reported September 21. US Asset-Backed Securities (ABS) fund will provide Vietnam's small and medium-sized enterprises (SMEs) a total loans of $180,000 [...]

Waiting with baited breath Posted: 20 Sep 2010 10:05 PM PDT The central bank's new circular on safety ratios has been largely priced into recent equity valuations, with analysts believing it will continue to dominate market investors' minds. The State Bank on May 20 issued Circular 13/TT-NHNN on safety ratios for credit institutions, requesting all banks raise minimum capital adequacy ratio (CAR) from 8% to 9% from [...]

UK firm builds $30 mln shoes plant in Tien Giang Posted: 20 Sep 2010 10:04 PM PDT The Freeview Industrial Vietnam of the UK Saturday launched construction of a US$30 million leather shoes factory in Chau Thanh District in the southern province of Tien Giang. The Freeview Industrial Vietnam of the UK Saturday launched construction of a US$30 million leather shoes factory in Chau Thanh District in the southern province of Tien Giang. The [...]

Kia Motors recall has ripple effect locally Posted: 20 Sep 2010 10:03 PM PDT Kia Motors last week announced the recall of hundreds of Sorento SUVs, imported into Vietnam, due to defective wiring in decorative lighting. According to Truong Hai Auto Group (Thaco), the authorised distributor of Kia Sorento in Vietnam, 470 vehicles produced between September 2009 and June 2010 imported from South Korea and the United States into Vietnam [...]

Local wholesale steel prices fall VND150,000/Ton Posted: 20 Sep 2010 10:02 PM PDT The southern branch of Vietnam Steel Corporation cut the whole sales prices of rolled steel and steel bars by VND150,000/ton from September 20 to an average price of VND15.6 million/ton at steel factories The southern branch of Vietnam Steel Corporation cut the whole sales prices of rolled steel and steel bars by VND150,000/ton from September 20 [...]

Ocean Group signs contract to realise Song Bac hydropower plant project Posted: 20 Sep 2010 09:13 PM PDT Toan Phat Industrial and Construction Joint Stock Co and Ocean Group have signed a cooperation contract to build Song Bac hydropower plant last weekend. The new hydropower plant will be built on Bac River, in Tan trinh Commune, Quang Binh Dist, Ha Giang province with designed capacity of 42 MW. The plant was expected to produce [...]

Fraser Suites manages Hanoi-based Modena hotel & apartments Posted: 20 Sep 2010 09:12 PM PDT T&M Vietnam Investment Joint Stock Co, the main investor of the trading complex of Me Linh Plaza, and Singapore-based Fraser Hospitality Pte Ltd have signed a contract for distributing management services in Modena complex of a hotel and apartments, located in the campus of Me Linh Plaza in Km 8, Thang Long-Noi Bai highway, Hanoi. Modena [...]

Vanishing act for property US dollars Posted: 20 Sep 2010 09:11 PM PDT Developers who make real estate quotations in US dollars will be strictly controlled. The State Bank last week issued documentation to enhance oversight of illegal quotations in foreign currencies by construction and real estate developers. Bui Quang Hung, a lawyer at the Bui Quang Hung & Associates law firm, said the majority of the high-end real estate [...]

Investment licences for many large FDI projects to be revoked Posted: 20 Sep 2010 09:09 PM PDT Although there appears some difficulty in attracting foreign investment capital in carrying out projects in Vietnam, Vietnamese authorities may revoke the investment licences for many (FDI) projects with investment capital of billions of US dollars if the investors fail to realise the projects in time as committed. Cao Viet Sinh, deputy minister of planning and investment [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610