Vietnam Business News

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• Vietnam electrical program recorded a 30pct higher return than targeted
• New draft proposal may create investment barriers in Vietnam
• The VNFC proposes to set up gold exchange
• CBA rapidly makes big market impression
• Hanoi-based banks stop offering promotions
• Vietnam’s market tempts foreign banking eyes
• High interest rates freeze credit growth
• VN, Indonesia develop comprehensive cooperation
• Utilities prices to kept stable until Q2 2011: MoF
• Vinashin works way out of trouble

Vietnam electrical program recorded a 30pct higher return than targeted Posted: 19 Dec 2010 09:48 PM PST Vietnam News Agency reported that the national program on electrical energy efficiency and conservation, enacted over the last 5 years, has recorded a 30% higher return than targeted. Vietnam News Agency reported that the national program on electrical energy efficiency and conservation, enacted over the last 5 years, has recorded a 30% higher return than targeted. Mr [...]

New draft proposal may create investment barriers in Vietnam Posted: 19 Dec 2010 09:47 PM PST Foreign investors fear that Vietnam's draft proposal to develop its retail sector may, if enacted, erect barriers to invest from abroad. Foreign investors fear that Vietnam's draft proposal to develop its retail sector may, if enacted, erect barriers to invest from abroad. Last week, the Ministry of Industry and Trade floated its draft in an effort to [...]

The VNFC proposes to set up gold exchange Posted: 19 Dec 2010 09:46 PM PST The National Financial Supervisory Committee (VNFC) is scheduled to hold a discussion this week on the proposal for govenment approval’s of establishing local gold exchanges in 2011, said Le Xuan Nghia, Vice chairman of the committee December 18. In other countries, gold is mainly kept in the country's reserves and under control of the central banks [...]

CBA rapidly makes big market impression Posted: 19 Dec 2010 09:45 PM PST "We believe there is sufficient growth and demand for financial services for all Vietnamese banks, whether local or foreign, to operate successfully and profitably" "We believe there is sufficient growth and demand for financial services for all Vietnamese banks, whether local or foreign, to operate successfully and profitably" Three years after officially operating in Ho Chi Minh [...]

Hanoi-based banks stop offering promotions Posted: 19 Dec 2010 09:44 PM PST Almost all the credit institutions in Hanoi have stopped launching promotion programs and the dong deposit interest rates are capped at 14% p.a. as pledged, mostly applicable for one-month and two-month terms Almost all the credit institutions in Hanoi have stopped launching promotion programs and the dong deposit interest rates are capped at 14% p.a. as [...]

Vietnam’s market tempts foreign banking eyes Posted: 19 Dec 2010 09:43 PM PST Vietnam's market is attracting foreign banks to open wholly-owned banks and incorporated subsidiaries. Citibank announced its willingness to open a 100 per cent foreign bank in Vietnam after submitting its application. Citibank country officer for Vietnam Brett Krause last week said the bank expected to receive a licence next year. The Vietnamese government might change its intention, [...]

High interest rates freeze credit growth Posted: 19 Dec 2010 09:40 PM PST Too high lending interest rates are freezing credit growth of local lenders, the local newswire Sai Gon Tiep Thi reported December 20. "Credit growth at our bank has stopped for a month", said Nguyen Phuoc Thanh, general director of Vietcombank. Although Vietcombank still has credit room, the listed lender has been skeptical to boost up credit growth [...]

VN, Indonesia develop comprehensive cooperation Posted: 19 Dec 2010 09:39 PM PST Vietnam and Indonesia are determined to foster and further develop the traditional friendship and comprehensive cooperation between the two countries and two parliaments. Vietnam and Indonesia are determined to foster and further develop the traditional friendship and comprehensive cooperation between the two countries and two parliaments. Chairman of the Vietnamese National Assembly Nguyen Phu Trong welcomes [...]

Utilities prices to kept stable until Q2 2011: MoF Posted: 19 Dec 2010 09:39 PM PST The prices of utilities including electricity, coal, gas and clean water and public education and health services will be kept stable until the end of the first quarter of 2011. The prices of utilities including electricity, coal, gas and clean water and public education and health services will be kept stable until the end of the [...]

Vinashin works way out of trouble Posted: 19 Dec 2010 09:38 PM PST Troubled state-owned shipbuilder Vinashin is rushing to resume production plans to cover its huge debts. Since early November, Nam Trieu Shipbuilding Industry Corporation, a wholly owned subsidiary of Vinashin in northern Haiphong City, has resumed long-delayed plans for building 53,000 dead weight tonnage (dwt) vessels, 56,000dwt vessels and 750 twenty-foot equivalent unit vessels. Truong Thanh Hung, head [...]

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