Vietnam Business News

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• Vietnam central bank needs “consistent” policies, analysts say
• Vietnam insurance premium estimated at 30.69tr dong in 2010
• Prudential to sell products at Techcombank outlets
• Vietnam’s private sector contributes 48pct of GDP in 2010
• Tet bonuses to reach $18,000 in southern metro
• Price stabilization program not proving effective: experts
• Foreign bank branches to face lending restrictions in 2011
• Dec 27: Vietnam gold edges down to VND35.82Mln, Dollar down to VND21,050
• Journalists contribute to developing East-West Economic Corridor
• Song Tranh 2 hydropower plant prepares for joining national grid

Vietnam central bank needs “consistent” policies, analysts say Posted: 27 Dec 2010 01:12 AM PST Vietnam's central bank needs to have a "clear and consistent" message on monetary policy to re- establish its credibility after surging interest rates contributed to accelerating inflation, analysts said. "Policies were very confusing in 2010," and that affected the stability of the economy, Vo Tri Thanh, an analyst at the Central Institute for Economic Management, said [...]

Vietnam insurance premium estimated at 30.69tr dong in 2010 Posted: 27 Dec 2010 01:11 AM PST The total insurance premium is estimated to have reached 30.69 trillion dong in 2010, up 20.3% year on year and equalling to 1.7% of GDP, according to the Ministry of Finance (MoF). This year, insurance firms invested about 92.809 trillion dong in the economy, up nearly 26 trillion dong from 2009. Insurers settled nearly 12.033 trillion [...]

Prudential to sell products at Techcombank outlets Posted: 27 Dec 2010 01:11 AM PST Life insurer Prudential Vietnam and Techcombank have clinched a deal in which the former will send staff to the bank’s outlets in the country’s southern part to sell insurance products from 2011. More than 30 bancassurance executives of Prudential will work at the southern branches and transaction offices to be selected by Techcombank to give customers [...]

Vietnam’s private sector contributes 48pct of GDP in 2010 Posted: 27 Dec 2010 01:08 AM PST The private sector (mainly small and medium enterprises) is estimated to have contributed 48% of Vietnam's gross domestic product (GDP) in 2010 from 45.6% in 2006. Private firms have also created 50.2% jobs for the country. The average growth rate of this economic area has gained over 10%, higher than the level of 8% of the [...]

Tet bonuses to reach $18,000 in southern metro Posted: 27 Dec 2010 01:07 AM PST A domestic bottled drinking water producer is offering Ho Chi Minh City’s highest Tet bonus this year at a whopping 376 million dong (US$18,800), official figures have showed. Ho Chi Minh City Export and Processing Zone Authorities (HEPZA), which reviewed a list of bonuses planned by HEPZA-located enterprises for the Lunar New Year holiday, reviewed the [...]

Price stabilization program not proving effective: experts Posted: 27 Dec 2010 01:06 AM PST Le Kim Thu, a retired worker living in Hanoi's Bach Mai Street, is not impressed with the much-vaunted price stabilization program being implemented in localities nationwide. "I am not interested," she says. Many localities including Hanoi and Ho Chi Minh City are spending hundreds of billions of dong to help low-income consumers deal with inflation and the [...]

Foreign bank branches to face lending restrictions in 2011 Posted: 27 Dec 2010 01:05 AM PST Foreign bank branches in Vietnam will find it harder to give out loans as their lending operations will be restricted by the new law on credit institutions that will take effect early next year. The law, which was passed on June 16 this year by the National Assembly, specifies the maximum credit line for a single [...]

Dec 27: Vietnam gold edges down to VND35.82Mln, Dollar down to VND21,050 Posted: 27 Dec 2010 01:02 AM PST Local gold prices on December 27 morning eased further to VND35.82million/tael as world gold prices fell to a one-week low of $1,371.1 and dollar prices edged down to VND21,050 in the free market . SJC in Hanoi was listed at VND35.76million/tael and VND35.85million/tael for bid and ask, respectively. Meanwhile, SJC in HCMC was listed at VND35.76million [...]

Journalists contribute to developing East-West Economic Corridor Posted: 27 Dec 2010 01:00 AM PST The Department of Information and Communications and the Journalists Association of Quang Tri province held a seminar on journalist role in developing the East-West Economic Corridor on December 25. Over the past 10 years, with the assistance of the Asian Development Bank, the Japanese Government and the intensive efforts of four countries in East-West Economic Corridor, [...]

Song Tranh 2 hydropower plant prepares for joining national grid Posted: 26 Dec 2010 11:54 PM PST After the first turbine of Song Tranh 2 hydropower plant joined the national grid on December 19, 2010, the hydropower project management board No 3planned to put into operation the second turbine on January 20, 2011. Song Tranh 2 hydropower plant has total designed capacity of 190MW, including two turbines with designed capacity of 95MW each. [...]

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