Vietnam Business News

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• Investor group urges cap on deposits
• Investor relations receive short shrift
• Vietnam among top improving economies
• Vincom gets professional property management
• Dollar changes hands at nearly 21,000 dong outside banks
• Vietnam January-October bank lending rose 22.5pct – central bank
• Vietnam makes U-turn on rates as inflation bites
• Hanoi intensifies price stabilization in remaining months
• New US Consul General to boost trade, investment
• Vietnam’s balance of payment shows resilience

Investor group urges cap on deposits Posted: 07 Nov 2010 12:39 AM PDT The central bank should cap interest rates paid by commercial banks on foreign currency deposits at less than 1 per cent per year, says the Viet Nam Association of Financial Investors (VAFI). The central bank should cap interest rates paid by commercial banks on foreign currency deposits at less than 1% per year, says the Viet [...]

Investor relations receive short shrift Posted: 07 Nov 2010 12:38 AM PDT Most Vietnamese companies were not paying enough attention to investor relations and had yet established effective two-way communications between management and stockholders. Most Vietnamese companies were not paying enough attention to investor relations and had yet established effective two-way communications between management and stockholders, said the director of portfolio management for Dragon Capital Fund, Vu Huu [...]

Vietnam among top improving economies Posted: 07 Nov 2010 12:36 AM PDT Vietnam is among the top 10 most improved economies in the world, according to a report released yesterday by the World Bank and the International Finance Corporation. Improvements in easing business start-ups, construction permits and the sharing of credit information helped the nation earn the status in 2009-10, said Doing Business 2011: Making a Difference for [...]

Vincom gets professional property management Posted: 07 Nov 2010 12:35 AM PDT Vincom Corporation announced on Wednesday to have clinched a deal with Yardi System Inc to set up a professional property management system for its office and commercial buildings. The deal allows the US firm to install a software programme called Yardi Voyager to manage Vincom’s real estate sales, office buildings and commercial centers in the country. [...]

Dollar changes hands at nearly 21,000 dong outside banks Posted: 07 Nov 2010 12:35 AM PDT While banks continue quoting the US dollar at 19,500 dong, the greenback is changing hands on the unofficial market at a new record of nearly 21,000 dong yesterday afternoon. In HCM City, gold shops in the city’s centre sold the dollar at 20,950-20,960 dong while the price in Hanoi was almost the same yesterday. Although banks cannot [...]

Vietnam January-October bank lending rose 22.5pct – central bank Posted: 07 Nov 2010 12:34 AM PDT Bank lending in Vietnam rose an estimated 22.5 percent by the end of October from the end of last year, in line with an annual growth target of 25 percent, the central bank said on Thursday. Deposits in banks grew 22.81 percent at the end of last month from the end of 2009, the State Bank [...]

Vietnam makes U-turn on rates as inflation bites Posted: 07 Nov 2010 12:33 AM PDT The Vietnamese government has sat on its hands over recent weeks while its controlled currency, the dong, continued to slide in value on the black market, amid mounting concerns about inflation and a year-end shortage of dollars. But it has finally sprung into action, pledging yesterday to inject dollars into the market and not to devalue [...]

Hanoi intensifies price stabilization in remaining months Posted: 07 Nov 2010 12:30 AM PDT The Hanoi municipal People's Committee has submitted a report to the Prime Minister on the socio-economic situation in October and key tasks for November this year. According to the report, Hanoi's industrial value soared by 5.3 percent in October. Over the past ten months, the city's capital construction and investment reached VND17,816 billion, equivalent to 88 [...]

New US Consul General to boost trade, investment Posted: 07 Nov 2010 12:29 AM PDT The best way to improve US-Vietnam relations is to increase the economic exchange between the two countries, said the newly-assigned US Consul General in Ho Chi Minh City. On November 5, Le Thanh An, the first Vietnamese American to be appointed as US Consul General to a major city like HCM City, said one of his [...]

Vietnam’s balance of payment shows resilience Posted: 07 Nov 2010 12:29 AM PDT Vietnam's balance of payment has shown signs of resilience in 2010, particularly in two areas, according to the latest report issued by Standard Chartered Bank. First, the average monthly trade deficit was contained at US$960 million during the first nine months of the year, compared with US$2.2 billion in 2008. Stable commodity prices in 2010 have been [...]

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