Vietnam Business News

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• Monetary policies always come late
• MOC: cement plants not the culprit that causes electricity shortage
• France-Vietnam workshop on construction held in Paris
• Commercial banks begin tightening credit
• SHB raises Dong deposit interest rates to 13.5%
• Vietnam’s bonds drop for 2nd week on low liquidity; Dong steady
• Nov 19: Vietnam stocks ease on local selling
• City leader ssks for price stabilization
• Gov’t approves Vinashin’s restructuring scheme
• Curbing rising drug prices by year end

Monetary policies always come late Posted: 19 Nov 2010 08:10 AM PST In principle, the dong/dollar exchange rate only stabilizes when Vietnam has a large dollar reserve and the trade deficit reduces. However, experts have pointed out that in short term, the temporary dollar shortages should be seen as the result of monetary policies. Two circumstances, one result Vietnam witnessed a serious dollar shortage in 2009, when the price [...]

MOC: cement plants not the culprit that causes electricity shortage Posted: 19 Nov 2010 08:10 AM PST Deputy Minister of Construction Nguyen Tran Nam has officially denied the opinion that cement plants, which, using backward technologies, gobble up too much electricity and cause electricity shortages. In 2010, when the electricity shortage became serious, people not only criticized Electricity of Vietnam for not fulfilling its duty of providing enough electricity to enterprises and people, [...]

France-Vietnam workshop on construction held in Paris Posted: 19 Nov 2010 08:02 AM PST Vietnamese and French construction experts gathered at a workshop on construction of high buildings and underground projects in Paris on Nov. 18 and 19. Representatives of Vietnamese relevant ministries and agencies also attended the event, which was held by the community of Vietnamese researchers and students in France and the network of Vietnamese scientists and experts [...]

Commercial banks begin tightening credit Posted: 19 Nov 2010 08:02 AM PST The interest rate market has cooled down after the State Bank of Vietnam announced it will pump money through open market operations (OMO). However, banks' liquidity remains questionable. The high deposit interest rate of 13 percent per annum has still been maintained. Several days ago, at a meeting with representatives from 15 commercial banks, which have [...]

SHB raises Dong deposit interest rates to 13.5% Posted: 19 Nov 2010 07:50 AM PST Sai Gon-Hanoi Joint Stock Commercial Bank (SHB) on November 19 raised the dong deposit interest rates to 13.5% p.a., the highest in the market, the state-run online newspaper VnEconomy reported. Sai Gon-Hanoi Joint Stock Commercial Bank (SHB) on November 19 raised the dong deposit interest rates to 13.5% p.a., the highest in the market, the [...]

Vietnam’s bonds drop for 2nd week on low liquidity; Dong steady Posted: 19 Nov 2010 07:49 AM PST Vietnam's five-year bonds fell for a second week on speculation demand for government debt has waned due to low liquidity at banks. The dong held steady this week. Vietnam's five-year bonds fell for a second week on speculation demand for government debt has waned due to low liquidity at banks. The dong held steady this week. "When [...]

Nov 19: Vietnam stocks ease on local selling Posted: 19 Nov 2010 07:48 AM PST Vietnamese stocks resumed its losing streak today as local investors sold shares to take profit as the VN Index climbed over 430 tentative threshold, sending the benchmark back to negative ground. The VN Index lost 4.21 points or 0.97% to 426.51. Volume continued to fall to 27.7 million shares traded for VND581.28 billion compared to 32.41 [...]

City leader ssks for price stabilization Posted: 19 Nov 2010 07:41 AM PST Chairman of Ha Noi’s People’s Committee Nguyen The Thao has asked agencies at all levels as well as companies to intensify their management work and take urgent measures to curb price increases to stabilise the market Chairman of Ha Noi’s People’s Committee Nguyen The Thao has asked agencies at all levels as well as companies to [...]

Gov’t approves Vinashin’s restructuring scheme Posted: 19 Nov 2010 07:40 AM PST The Government has approved Vinashin Business Group’s restructuring plan to stabilise the corporation’s operations while helping them pay off debts. Under decision 2108/QD-TTg issued on Thursday, the Government will allow Vinashin to focus on three main areas of building and repairing ships, developing a shipbuilding support industry, and training workers. The group has been asked to take [...]

Curbing rising drug prices by year end Posted: 19 Nov 2010 07:40 AM PST The Drug Administration of Việt Nam under the Ministry of Health (MoH) recently sent an official document to foreign drug companies asking them to ensure the supply of medicines for the market stability. The drug providers will have to take measures to regulate and minimize costs which would affect the prices of medicines in Việt Nam. [...]

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