Vietnam Business News

---

• Some local banks break deposit interest rates cap to 17%
• Chinese bank opens branch in HCM City
• ACIAR’s hunger for rice growth
• Japan’s green brush to paint eco picture
• AES grabs finance to fire up key power plant
• Poor FDI reporting deters management
• Hospital plan back in good health
• State bank endeavours to constrain inflation
• Vietnam on list of highest growth prospects
• Algeria, Vietnam sign agreements in housing and town planning

Some local banks break deposit interest rates cap to 17% Posted: 28 Feb 2011 11:03 PM PST Some local banks broke the dong deposit interest rates cap of 14% p.a. to up to 17% p.a. by offering bonus interest rates and promotions, the local newswire VnExpress reported March 1. A bank offered a bonus interest rate of 3% p.a. for old depositors, raising dong deposit interest rates for one-month term to 17% [...]

Chinese bank opens branch in HCM City Posted: 28 Feb 2011 11:02 PM PST China's Bank of Communications opened a branch with a charter capital of US$30 million in Ho Chi Minh City on February 28. According to Hu Huaibang, the Chair of the Board of Directors of the Bank of Communications, its branch in Ho Chi Minh City will provide payment services in Chinese Yuan to encourage Vietnamese [...]

ACIAR’s hunger for rice growth Posted: 28 Feb 2011 08:12 PM PST An Australian-backed new agricultural research project is expected to fuel Vietnam's southern rice granary. The A$4 million project funded through the Australian Centre for International Agricultural Research (ACIAR) was kicked-off last week and would run until 2014. The research is a partnership between the International Rice Research Institute, Vietnamese and Australian research centres, local authorities [...]

Japan’s green brush to paint eco picture Posted: 28 Feb 2011 08:12 PM PST Sustainable development, environment protection and green technologies are being championed by Japan to address Vietnam's eco challenges. Co-organised by the Vietnam Chamber of Commerce and Industry, Business Council for Sustainable Development and Japan Economic Times, the "Global environment business – Environment Technology Cooperation between Vietnam and Japan" centred a range of big Japanese enterprises. Those [...]

AES grabs finance to fire up key power plant Posted: 28 Feb 2011 08:11 PM PST AES Corporation has ensured finance for one of Vietnam's largest thermoelectricity power plants. The American corporation has sold 30 and 19 per cent stakes in AES-VCM Mong Duong Power Co. Ltd to South Korea's Posco Power Corp and China Investment Company of China (CIC). The agreements were signed in Seoul recently. AES said it was [...]

Poor FDI reporting deters management Posted: 28 Feb 2011 08:10 PM PST A closer look at foreign-invested enterprises' business performances is needed to get an accurate snapshot of Vietnam's investment picture. The Ministry of Planning and Investment's Foreign Investment Agency (FIA) last week urged industrial and export processing zones' authorities and provincial investment officials to continue examining foreign-invested enterprises' (FIEs) business and investment performances. The findings would [...]

Hospital plan back in good health Posted: 28 Feb 2011 08:10 PM PST United States-based Keystone Global Group is pushing ahead the construction of an international hospital project in Hanoi after 13 years of delays. The company is now completing the construction of the main block of the hospital at Cau Giay district. "The construction work will be finished within this year," said a project site source. Keystone [...]

State bank endeavours to constrain inflation Posted: 28 Feb 2011 08:08 PM PST The State Bank of Vietnam (SBV) will make moves to reduce the dollarisation of the national economy to use the VND as the only means of payment in the country, said a SBV senior official. Solutions to dollarisation will be submitted to the government as part of the SBV's moves to constrain inflation, stabilise the [...]

Vietnam on list of highest growth prospects Posted: 28 Feb 2011 08:08 PM PST The global banking giant Citigroup has identified Vietnam as one of the 11 countries that is likely to stand out in a globally integrated economy in terms of a high growth rate and investment attraction over the next 40 years. In a recent report written by Willem Buiter, City group's leading economist, the firm has [...]

Algeria, Vietnam sign agreements in housing and town planning Posted: 28 Feb 2011 08:05 PM PST Algeria and Vietnam have signed Monday in Algiers a cooperation agreement in the field of sea transport and a memorandum of understanding and cooperation in the sector of housing and town planning, Global Arab Network reports according to APS. The two agreements were inked by Minister of Industry, SME and Investment Promotion Mohamed Benmeradi and [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610