Vietnam Business News

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• Raising interest rates is “unavoidable”: Governor
• Nearly 60tr dong set for developing leather shoes industry
• Vice Trade minister says Vietnam’s December CPI may be 1.3-1.5pct
• Vietnam export revenue grows 24 per cent
• Vietnam stocks ‘rerating’ hinges on inflation battle, VinaSecurities says
• 16tr dong G-bonds issue plan faces risk of bankruptcy
• Prudential sees new Asia profits doubling by 2013
• Vietnam price controls a ’violation’
• Overseas remittance to Vietnam may hit $7.3Bln in 2010
• Vietnam’s deposit interest rates hit 16%

Raising interest rates is “unavoidable”: Governor Posted: 02 Dec 2010 10:34 PM PST Raising interest rate is "unavoidable" to help curb inflation, the State Bank of Vietnam's Governor was quoted as saying in a press conference on December 2. Raising interest rate is "unavoidable" to help curb inflation, the State Bank of Vietnam's Governor was quoted as saying in a press conference on December 2. Between two solutions to tame [...]

Nearly 60tr dong set for developing leather shoes industry Posted: 02 Dec 2010 10:21 PM PST Ministry of Industry and Trade has approved the overall plan for developing Vietnam’s leather shoes till 2020 and vision to 2025, the state-run Nguoi Lao Dong newspaper reported on Wednesday. Under it, total investment capital estimated for the period from 2011 to 2020 is 59.570 trillion dong, of which 43 percent will be raised domestically and [...]

Vice Trade minister says Vietnam’s December CPI may be 1.3-1.5pct Posted: 02 Dec 2010 10:21 PM PST Vice minister of Industry and Trade, Ho Thi Kim Thoa said at a press conference on Tuesday that keeping 2010 CPI at two-digits is very hard. In November alone, CPI surged 9,58 percent, which is estimated to rise 1.3-1.5 percent in this month. With the current goods reserves, Vietnam does not have to concern about a [...]

Vietnam export revenue grows 24 per cent Posted: 02 Dec 2010 10:20 PM PST Vietnam exports are generating an estimated 24-per-cent increase in revenues for 2010 and will reach 70.8 billion dollars, according to government data published Thursday. The estimate surpassed by 16.5 per cent the projected 60.5 billion dollars in export value for the year, according to the Ministry of Industry and Trade (MIT). “It is really an impressive figure,” [...]

Vietnam stocks ‘rerating’ hinges on inflation battle, VinaSecurities says Posted: 02 Dec 2010 10:19 PM PST Vietnam, Asia’s second-cheapest stock market, needs policies that will tame inflation to boost investor confidence and support a rebound in equities next year, according to VinaSecurities Joint-Stock Co. A “sustained” rally for the “exceedingly cheap” shares requires higher interest rates, a more stable currency and bigger foreign exchange reserves, Adrian Cundy, head of research for the [...]

16tr dong G-bonds issue plan faces risk of bankruptcy Posted: 02 Dec 2010 10:18 PM PST The State Treasury may face risk of bankruptcy in its plan of issuing about 16 trillion dong of government bonds in the last months of this year when just a handful of participants register for the purchase of the bonds. Deputy general director in charge of investment of a large commercial bank in Hanoi said that [...]

Prudential sees new Asia profits doubling by 2013 Posted: 02 Dec 2010 10:18 PM PST Britain’s largest insurer, Prudential , aims to double the value of its 2009 new business profits in Asia by 2013, taking advantage of the region’s low penetration rates, the company said on Wednesday. It also has targeted a doubling of its 2009 life insurance and asset management pre-tax profit by 2013, Prudential <2378.HK> said in a statement posted [...]

Vietnam price controls a ’violation’ Posted: 02 Dec 2010 08:06 PM PST Vietnam has violated its World Trade Organization commitments with a new price control law targeting overseas firms, a US business leader said on Thursday, adding to foreign concerns over the decree. Vietnam has violated its World Trade Organization commitments with a new price control law targeting overseas firms, a US business leader said on Thursday, adding [...]

Overseas remittance to Vietnam may hit $7.3Bln in 2010 Posted: 02 Dec 2010 08:05 PM PST Overseas remittance to Vietnam, a major source of foreign currency, may hit $7.3billion in 2010, up 14.1% compared to $6.4billion last year, the State Bank of Vietnam's Governor, Nguyen Van Giau, said in a recent press conference on December 2. Overseas remittance to Vietnam, a major source of foreign currency, may hit $7.3billion in 2010, up [...]

Vietnam’s deposit interest rates hit 16% Posted: 02 Dec 2010 08:03 PM PST Some small joint stock commercial banks raised deposit interest rates to 16% p.a. from December 2, the highest interest rates in the market, the local newswire VnExpress reported without naming these banks. Some small joint stock commercial banks raised deposit interest rates to 16% p.a. from December 2, the highest interest rates in the market, the [...]

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