Vietnam Business News

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• Vietnam central bank may pump dollars to support banks
• HDBank supports borrowers 100pct capital for business purposes
• Interest rates unlikely to decrease further as banks short of capital
• Deposit rates inch down to reluctant 11pct
• Access to bank loans seen easier for SMEs
• Fertiliser production to oustrip demand by 2015
• Ha Noi prices up almost 10% on same period in 2009
• Funds seek opportunities in Viet Nam
• Ninh Thuan master plan awaits PM’s nod
• Toyota rolls out new version of Corolla Altis

Vietnam central bank may pump dollars to support banks Posted: 21 Oct 2010 12:01 AM PDT The State Bank of Vietnam said that it is not planning any adjustments to the dong/dollar foreign exchange rate, but the central bank may soon provide a certain amount of US dollars to commercial banks to meet the demand for imports of essential goods, the local newswire VnExpress.Net reported on October 20. The SBV did not [...]

HDBank supports borrowers 100pct capital for business purposes Posted: 21 Oct 2010 12:00 AM PDT Starting from October 19, 2010, HCM City Housing Development Commercial Bank (HDBank) introduced new products of “Cho vay phuc vu san xuat kinh doanh” or offering loans for business purposes. This product was designed and offered for individual customers and business households who have demands for borrowing capital for business purposes without having to submit [...]

Interest rates unlikely to decrease further as banks short of capital Posted: 21 Oct 2010 12:00 AM PDT Under the agreement with the Vietnam Banking Association (VNBA), from October 15, commercial banks will drop the deposit interest rate to 11 percent per year. But in a bid to retain sources of savings in the threat of rising inflationary pressures and enhancing the competitiveness in raising capital, banks are wary of cutting interest rates, [...]

Deposit rates inch down to reluctant 11pct Posted: 20 Oct 2010 08:32 PM PDT Almost all commercial banks have complied with a pledge made earlier to reduce their deposit rates, but signs of reluctance are seen in the new move when lenders quote the same rate of 11 percent for deposits of all terms. Since late last week, banks have cut their rates for dong deposits to a maximum of [...]

Access to bank loans seen easier for SMEs Posted: 20 Oct 2010 08:31 PM PDT The biggest concern raised by almost all enterprises at a seminar on capital for small and medium enterprises (SME) last week is difficult access to loans at commercial banks but the situation is expected to improve in the near future. A business executive said at the seminar that commercial banks should keep their promises. He had [...]

Fertiliser production to oustrip demand by 2015 Posted: 20 Oct 2010 08:29 PM PDT The fertiliser industry’s production capacity is likely to surpass the country’s domestic demand by 1.7-2 million tonnes per year from 2010 to 2015, reported the Ministry of Agriculture and Rural Development. Both imported and domestically produced fertilisers are sold on the market in Viet Nam. Therefore, domestically produced fertilisers should be exported in the future. The Viet [...]

Ha Noi prices up almost 10% on same period in 2009 Posted: 20 Oct 2010 08:28 PM PDT Ha Noi’s consumer price index (CPI) in October surged dramatically by 1.22 per cent over last month’s figures, which was the highest increase during the past eight months, reported the Ha Noi General Statistics Office yesterday. The capital city’s CPI rose 9.86 per cent in comparison with the first 10 months of last year. Of the [...]

Funds seek opportunities in Viet Nam Posted: 20 Oct 2010 08:28 PM PDT To meet foreign investment demand, Viet Nam should develop new strategies to expand the private sector to meet infrastructure and logistics challenges, speakers said at a conference held in HCM City this week. More than 500 investors and representatives from investment funds and securities companies met at the three-day conference organised by the US-based Thunderbird University’s [...]

Ninh Thuan master plan awaits PM’s nod Posted: 20 Oct 2010 08:27 PM PDT Viet Nam’s first provincial socio-economic development master plan created by two world renowned consultancy firms has been approved by leaders of central Ninh Thuan Province and is awaiting the nod from the Prime Minister. Ninh Thuan’s socio-economic development master plan to 2020 with a vision to 2030, which was developed on the basis of its nuclear [...]

Toyota rolls out new version of Corolla Altis Posted: 20 Oct 2010 08:27 PM PDT The latest version of Corolla Altis 2010 was launched yesterday in HCM City by Toyota Motor Viet Nam Co.Ltd (TMV). The new version sports big improvements like a new ZR engine with eco-friendly technologies like dual VVT-i Engine, acoustic control induction system, and Super CVT-i Transmission, the chief engineer of Corolla Altis, Michihiro Sato, said at [...]

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