Vietnam Business News

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• Vietnam treasury fails to sell VND6Tln Govt bonds
• SeABank raises Dong deposit interest rates to 13%
• The urge for official commodity exchange
• Nov 11: Vietnam gold eases to VND36.5Mln, Dollar flat
• Iron-ore mine starts clean-up after mudslide
• Deputies endorse budget spending
• VN needs more skilled workers
• Japanese loans up due to partnership
• Dai-ichi, Eximbank to co-operate
• Power cuts, traffic chaos in VN worry Japanese

Vietnam treasury fails to sell VND6Tln Govt bonds Posted: 10 Nov 2010 11:28 PM PST The State Treasury of Vietnam failed to sell any of VND6 trillion ($307.7 million) worth of government bonds through auction on the Hanoi Stock Exchange (HNX) on November 5. This is the 21st tranche government bond auction this year and the amount comprises VND2 trillion of three-year, five-year and ten-year bonds each. But no bidders had registered [...]

SeABank raises Dong deposit interest rates to 13% Posted: 10 Nov 2010 11:27 PM PST SeABank on November 11 boosted up the dong deposit interest rates to 13% p.a., the state-run online newspaper VnEconomy reported. SeABank on November 11 boosted up the dong deposit interest rates to 13% p.a., the state-run online newspaper VnEconomy reported. SeABank has been the first lender to raise the dong deposit interest rates to 13% p.a. for [...]

The urge for official commodity exchange Posted: 10 Nov 2010 11:26 PM PST It's necessary to drive all the gold and dollar transactions in Vietnam into a state-controlled commodity exchange, Nguyen Hong Hai, Ocean Bank's former deputy general director was quoted as saying. It's necessary to drive all the gold and dollar transactions in Vietnam into a state-controlled commodity exchange, Nguyen Hong Hai, Ocean Bank's former deputy general director [...]

Nov 11: Vietnam gold eases to VND36.5Mln, Dollar flat Posted: 10 Nov 2010 11:25 PM PST Vietnam gold prices on November 11 eased to VND36.5million, two day after the State Bank of Vietnam (SBV) gave gold import quota to local banks and enterprises. Meanwhile, dollar prices stayed flat at VND21,100. Vietnam gold prices on November 11 eased to VND36.5million, two day after the State Bank of Vietnam (SBV) gave gold import quota [...]

Iron-ore mine starts clean-up after mudslide Posted: 10 Nov 2010 11:24 PM PST The Viet Nam National Coal and Mineral Industries Group (Vina-comin) has taken responsibility for repairing damage caused by a mudslide last week in northern mountainous Cao Bang Province. A sea of mud and water surged from a dam built to hold earth from an iron ore mine operated by Cao Bang Minerals and Metallurgy Company, a [...]

Deputies endorse budget spending Posted: 10 Nov 2010 11:24 PM PST More than 80 per cent of National Assembly deputies accepted forecast Government overspending equal to 5.3 per cent of Gross Domestic Product when they endorsed next year’s budget estimates yesterday morning. Their resolution accepts total State budget revenue at VND595 trillion (US$29.8 billion), or 26.2 per cent of GDP. But it would total VND605 trillion ($30.3 billion) [...]

VN needs more skilled workers Posted: 10 Nov 2010 11:23 PM PST The science and technology sector had made great achievements in the last five years, but it needed to continue developing the country’s professional workforce to meet the nation’s socio-economic development demands, said Deputy Prime Minister Nguyen Thien Nhan yesterday. Nhan made the comment at a national conference in Ha Noi yesterday to review the development of [...]

Japanese loans up due to partnership Posted: 10 Nov 2010 11:22 PM PST The Japan International Co-operation Agency (JICA)’s Official Development Assistance (ODA) to Viet Nam increased this year because of strategic co-operation between the two countries, its deputy president Kenzo Oshima said yesterday. “With already committed and prospective projects, the ODA loan to Viet Nam this year will far exceed that of 2009,” he told a news conference [...]

Dai-ichi, Eximbank to co-operate Posted: 10 Nov 2010 11:21 PM PST Japanese life insurance company Dai-ichi Life Vietnam on Tuesday signed a co-operation agreement with the Viet Nam Import Export Bank (Eximbank) to distribute insurance products through the bank’s nationwide network. The bank will also issue co-branded prepaid cards and provide other financial services to the insurer’s customers. The two partners will work to develop combined banking and [...]

Power cuts, traffic chaos in VN worry Japanese Posted: 10 Nov 2010 11:21 PM PST Japanese investors were impressed by the changes in Viet Nam’s investment policies, but worried about power shortages and the chaos they saw on city roads, experts said at a seminar with enterprises from Japan’s Aichi Province on Tuesday. Viet Nam had clearly become a popular destination for Japanese investors. In the first 10 months of the [...]

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