Vietnam Business News

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• Moody’s cuts ratings of six Vietnamese banks-factbox
• Land fever to recur in 2011?
• Viet Nam targets wealthy tourists
• Power plans helps save energy
• Binh Thuan rolls out power plan
• HCM City sets fresh socio-economic targets
• Potential to be a leading IT outsourcing hot spot
• High interest rates exaggerate enterprises’ burdens
• NPLs at foreign institutions rise 60% in Jan-Oct
• Marubeni wants to build garment, textile factories in Vietnam

Moody’s cuts ratings of six Vietnamese banks-factbox Posted: 15 Dec 2010 08:26 PM PST Moody’s Investors Service cut the foreign currency deposit ratings of six Vietnamese banks to B2 from B1 with a negative outlook on Wednesday, after cutting the country’s sovereign rating. Moody’s Investors Service cut the foreign currency deposit ratings of six Vietnamese banks to B2 from B1 with a negative outlook on Wednesday, after cutting the country’s [...]

Land fever to recur in 2011? Posted: 15 Dec 2010 08:24 PM PST Experts believe that sooner or later a land fever will occurr , , and this should not be seen as a spontaneous phenomenon, but as the result of the lack of appropriate economic regulations. The demand for real estate increasingly high As Vietnam urbanizes, more and more well-off families use their savings to purchase houses and land [...]

Viet Nam targets wealthy tourists Posted: 15 Dec 2010 08:23 PM PST Viet Nam tourist authorities have decided to adopt a 10-year plan to try and attract rich tourists to its sparkling white beaches. More than 70 per cent of tourist sites in Viet Nam lay in coastal provinces – and 70 per cent of tourists choose beach tours. According to the Viet Nam National Administration of Tourism, coastal [...]

Power plans helps save energy Posted: 15 Dec 2010 08:23 PM PST The national programme on electrical energy efficiency and conservation, enacted over the last five years, has recorded a 30 per cent higher return than targeted. Cities and provinces throughout the country have conserved more than 4 billion kWh, said deputy minister of Industry and Trade Hoang Quoc Vuong at a meeting to review the programme’s implementation [...]

Binh Thuan rolls out power plan Posted: 15 Dec 2010 08:23 PM PST The central province of Binh Thuan plans to create a more favourable investment environment in order to reach its target of developing more power projects by 2025. In April last year, the province began site clearance for the 663-ha Vinh Tan Power Centre in Tuy Phong District’s Vinh Tan Commune, which will have three thermal power [...]

HCM City sets fresh socio-economic targets Posted: 15 Dec 2010 08:16 PM PST The municipal administration will concentrate its efforts on boosting its production and business sectors, stabilising the city’s macro-economy and keeping inflation under control as it aims at a 12 per cent gross domestic product (GDP) growth next year. According to the HCM City People’s Committee’s report approved by the second meeting of the Ninth Party Committee [...]

Potential to be a leading IT outsourcing hot spot Posted: 15 Dec 2010 08:07 AM PST Having young population with 65 per cent of people below the age of 35 years, Vietnam seems to have a tremendous labour pool to become a top nation for outsourcing IT human resources. Microsoft chairman of emerging markets Orlando Ayala talks with VIR at the Accelerating Asia Pacific 2010 Conference on how Vietnam can turn its [...]

High interest rates exaggerate enterprises’ burdens Posted: 15 Dec 2010 08:07 AM PST High lending rates have cast big impacts on Vietnamese enterprises' export contract negotiations. Phuoc Long Textile's Business Department head Bui Thi Kim Phuong said local businesses had found it hard to negotiate with foreign partners in price terms to seize export contracts. "Foreign partners are very careful in price negotiations. Formerly, we used lending rates of around [...]

NPLs at foreign institutions rise 60% in Jan-Oct Posted: 15 Dec 2010 08:05 AM PST Non-performing loans (NPL) at foreign credit institutions had by end-October jumped 60% year-on-year to VND2.75 trillion despite their prudence, according to a central bank report. The report says foreign credit institutions, especially all-foreign-owned banks and foreign bank branches, had a cautious credit policy, so a majority of their loans went to the manufacturing and services sectors. [...]

Marubeni wants to build garment, textile factories in Vietnam Posted: 15 Dec 2010 08:04 AM PST Marubeni Corp. wants to join the Vietnam National Textile & Garment Group, known as Vinatex, to build garment and textile factories in Vietnam, according to Vinatex. Marubeni Corp. wants to join the Vietnam National Textile & Garment Group, known as Vinatex, to build garment and textile factories in Vietnam, according to Vinatex. Marubeni is seeking opportunities to [...]

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