Vietnam Business News

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• VIB finances VND3tln preferential loans to local enterprises
• Feb 24: VN-Index tumbles on money flow and inflation concerns
• Vietnam cut M2 growth target to 15-16% in 2011
• Bao Viet bank targets VND200Bln pretax profit in 2011, up 114% on year
• New oil and gas discovery
• Phan Thiet ready for world windsurfing grand slam
• Why Vietnam’s outlook isn’t all doom and gloom
• Vietnam CPI rises at fastest pace in two years
• Feb 24: Vietnam gold eases to VND37.67Mln/tael, Dollar down
• “Local firms started selling Dollars”: governor

VIB finances VND3tln preferential loans to local enterprises Posted: 24 Feb 2011 01:06 AM PST Vietnam International Bank (VIB) launched a preferential loan program of VND3trillion with interest rates of 1% lower to support local enterprises from February 18 to April 30,2011, said the unlisted lender on its website. Specifically, VIB will disburse VND2trillion new loans to local businesses, which mostly applied for working capital loan applications and another VND1trillion [...]

Feb 24: VN-Index tumbles on money flow and inflation concerns Posted: 24 Feb 2011 12:19 AM PST Vietnam's stocks tumbled today as the worries about tighten monetary policy, especially narrower money flows on the stock market and inflation concerns did not ease the investors' sentiment. The benchmark VN Index plunged 9.38 point or 1.99% to 461.29. Volume rose to 43.11 million shares traded for VND974.40 billion compared with 36.92 million shares valued [...]

Vietnam cut M2 growth target to 15-16% in 2011 Posted: 24 Feb 2011 12:19 AM PST Vietnam Government cut the target of money supply (M2) growth to 15-16% from 21-24% earlier in an effort to tackle accelerating inflation, the state-run online newspaper VnEconomy reported after Government’s online meeting on February 24 morning. Credit growth target was also cut to below 20% from 23% set two months ago, the state media added. [...]

Bao Viet bank targets VND200Bln pretax profit in 2011, up 114% on year Posted: 24 Feb 2011 12:18 AM PST Bao Viet bank targeted a pretax profit of VND200billion in 2011, up 114% on year, the state-run online newspaper VnEconomy reported February 24. The unlisted lender also targeted total assets of VND25trillion, up 181%; total outstanding loans of VND11trillion, up 195%; total deposits of VND14.5trillion, up 199% and ROE of 10%, up114%. Commencing operations in [...]

New oil and gas discovery Posted: 23 Feb 2011 10:25 PM PST Idemitsu Oil and Gas Co., Ltd, JX Nippon Oil & Gas Exploration Corporation and Teikoku Oil (Con Son) Co., Ltd announced a discovery of oil and gas at an exploration well in the “Dai Nga” structure in the Blocks 05-1b and 05-1c southern offshore Vietnam. The Blocks 05-1b and 05-1c are located 300 kilometres southeast [...]

Phan Thiet ready for world windsurfing grand slam Posted: 23 Feb 2011 10:24 PM PST Boasting a long coastline, which is favourable for sea sports, Mui Ne bay in the central province of Binh Thuan's Phan Thiet city, is selected to be the first destination of the 2011 PWA Grand Slam, to take place from February 25-March 5. According to the organising board, 12 members of the Professional Windsurfers Association [...]

Why Vietnam’s outlook isn’t all doom and gloom Posted: 23 Feb 2011 10:23 PM PST Michel Tosto, the director of institutional sales and brokerage at VietCapital Securities, talks about Vietnam’s GDP, FX reserves and the overall confidence in the Vietnamese dong. There are quite a few people who take a doom and gloom perspective on Vietnam, particularly when it comes to its balance of payment outlook. You are more optimistic. [...]

Vietnam CPI rises at fastest pace in two years Posted: 23 Feb 2011 10:22 PM PST Vietnam’s consumer-price index rose at its fastest pace in two years in February, gaining 12% from the same month a year earlier, the government said Wednesday. The CPI data comes after State Bank of Vietnam Governor Nguyen Van Giau on Monday said the prime minister will this week announce a series of measures aimed at [...]

Feb 24: Vietnam gold eases to VND37.67Mln/tael, Dollar down Posted: 23 Feb 2011 10:20 PM PST Local gold prices on February 24 fell by between VND30,000 and VND100,000 to VND37.55-VND37.67million/tael though global gold prices rose to settle at $1,414 an ounce. Dollar prices fell VND50 to VND20,070 in the black market. Sacombank-SBJ gold as listed at VND37.55million/tael and VND37.65million/tael for bid and ask, respectively. Bid and ask of Thang Long gold [...]

“Local firms started selling Dollars”: governor Posted: 23 Feb 2011 10:20 PM PST Local firms have started selling dollars to the market, helping cool down prices of the green back in the market the State Bank of Vietnam (SBV)'s Governor was quoted as saying by the state-run online newspaper VnEconomy. "Though needing to watch more, I believe that dollar and gold's retreats have proved that the SBV's recent [...]

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