Vietnam Business News

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• Mar 7: Vietnam Dong gains at gold shops, remains steady at banks
• Interest rates likely to ease late Q2 at soonest: BIDV chairman
• SBV likely to amend regulation on lending Dollars this week
• Personal income tax needs flexible adjustment
• Inspection of public spending in provinces and cities
• Honouring 100 outstanding businesswomen in 2010
• Easing monetary bottlenecks to curb inflation
• Food safety sees massive investment
• OPIC to help spearhead US investment in Vietnam
• Port buffeted in a financing storm

Mar 7: Vietnam Dong gains at gold shops, remains steady at banks Posted: 07 Mar 2011 12:20 AM PST Vietnam's dong on March 7 advanced VND150 per dollar at gold shops while stayed flat at local lenders, according to the State Bank of Vietnam (SBV)'s data. In the so-called black market, the domestic currency was traded at VND21,700 per dollar, compared with VND21,850 per dollar on Saturday, the local media Dvt.vn reported. The dong [...]

Interest rates likely to ease late Q2 at soonest: BIDV chairman Posted: 07 Mar 2011 12:19 AM PST Interest rates will likely ease in late Q2 and early Q3 this year at the earliest, forecasted Tran Bac Ha, the BIDV's Chairman in a recent press conference, according to the State Bank of Vietnam (SBV)'s website. Supporting for his argument, Ha said cutting deposit interest rates now is impractical amid current accelerating inflation, adding [...]

SBV likely to amend regulation on lending Dollars this week Posted: 07 Mar 2011 12:18 AM PST The central bank may amend the regulation on lending foreign currencies early this week, requiring corporate borrowers to show evidence of legal dollar income for repayment as the first criteria for dollar loans, a central bank’s official. The central bank may amend the regulation on lending foreign currencies early this week, requiring corporate borrowers to [...]

Personal income tax needs flexible adjustment Posted: 07 Mar 2011 12:14 AM PST The law on personal income tax adopted in September, 2007 is no longer suitable in the current context, especially when the living cost is increasing rapidly. According to the law, which took effect in January, 2009, the reduction level for taxpayers is VND4 million, and that for their dependants is VND1.6 million each. The lowest [...]

Inspection of public spending in provinces and cities Posted: 06 Mar 2011 09:05 PM PST Officials from the Ministry of Planning and Investment will work with provinces and cities and economic groups across the country on public spending reduction in line with the Government's Resolution No.11. Deputy Minister of Planning and Investment, Cao Viet Sinh, said that there will be a reduction in the level of investment in those projects [...]

Honouring 100 outstanding businesswomen in 2010 Posted: 06 Mar 2011 09:04 PM PST A ceremony was held in Hanoi on March 6 to present the Golden Rose Cup Award to 100 outstanding Vietnamese women entrepreneurs in 2010. The annual event was co-organised by the Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnamese Women's Union to encourage and honour women entrepreneurs who have performed well to contribute [...]

Easing monetary bottlenecks to curb inflation Posted: 06 Mar 2011 09:04 PM PST The increase in the price of coal and electricity along with the adjustment in the exchange rates has caused the price of goods to rise sharply. Prime Minister Nguyen Tan Dung put forth some solutions to curb inflation in an online conference with local authorities. The government said to resolve the problem, difficulties in the [...]

Food safety sees massive investment Posted: 06 Mar 2011 09:02 PM PST A project to boost competition in animal husbandry and food safety in the agricultural sector kicked off in Hanoi on March 4 with an investment of $79 million. Of the investment, official development assistance (ODA) will contribute over $65 million while the Government will pay $3.4 million and the private sector over $10.37 million. The [...]

OPIC to help spearhead US investment in Vietnam Posted: 06 Mar 2011 09:02 PM PST American investors in Vietnam will have more financing options when joining local partners. Lawrence Spinelli, director of Foreign Affair of Overseas Private Investment Corporation (OPIC), said Vietnam was a favourable investment environment with a great deal of opportunities for doing businesses. Spinelli said: "OPIC will focus on the projects in tourism, renewable energy, clean technology, [...]

Port buffeted in a financing storm Posted: 06 Mar 2011 09:01 PM PST Financing disagreements are holding back the development of a crucial port for northern Vietnam. According to the Ministry of Transport (MoT), the construction of Lach Huyen's first two berths have not begun because of a change in investors. Vice Minister of Transport Ngo Thinh Duc said the Japanese embassy in Vietnam had introduced Molnykit Company [...]

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