Vietnam Business News

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• US extends the imposition of anti-dumping duties on Vietnamese shrimps
• MPI proposes anti-dollarisation measures
• No ban on personal gold holdings
• Domestic wholesale steel prices suddenly fall VND400,000/ton
• Vietnam’s bank loans grow 3.68 pct till March 10
• Vietinbank to ask permission to issue international bonds
• OceanBank offers dollar lending rate at 3.5pct/year for exporters
• Five solutions to fight Dollarization: MoPI
• HCM City March CPI posts up 2.2%: GSO
• Hanoi GDP estimated to expand 9.2% in Q1 2011

US extends the imposition of anti-dumping duties on Vietnamese shrimps Posted: 21 Mar 2011 12:01 AM PDT The Vietnam Competition Authority under the Ministry of Trade and Industry (MoIT) says that the US International Trade Commission (US ITC) has officially voted to approve the final decision on continuing to impose anti-dumping duties on frozen warmwater shrimps imported from Vietnam, China, Thailand, India, and Brazil. According to the USITC, the decision was made [...]

MPI proposes anti-dollarisation measures Posted: 21 Mar 2011 12:00 AM PDT Anti-dollarisation should be comprehensively carried out, says the Ministry of Planning and Investment (MPI). The MPI says that the Government Resolutions 02 and 11 have been implemented effectively, but more economic and technical measures are needed to stabilize the macroeconomy. The ministry has proposed five groups of measures to deal with the problems including an [...]

No ban on personal gold holdings Posted: 20 Mar 2011 10:12 PM PDT The right to keep gold as an asset will be secured for all citizens even when the government tightens control over gold trading in the country, a central bank official says. Nguyen Quang Huy, head of the foreign exchange department at the State Bank of Vietnam, said in an interview published on the bank's website [...]

Domestic wholesale steel prices suddenly fall VND400,000/ton Posted: 20 Mar 2011 10:03 PM PDT Pomina Steel company has cut down the wholesale prices by VND400,000/ton to VND18.5 million per ton for rolled steel and VND18.4 million ( included VAT) for steel bar from the beginning of this month Pomina Steel company has cut down the wholesale prices by VND400,000/ton to VND18.5 million per ton for rolled steel and VND18.4 [...]

Vietnam’s bank loans grow 3.68 pct till March 10 Posted: 20 Mar 2011 09:09 PM PDT Till March 10, total outstanding loans of Vietnamese banks grew 3.68% and the broadest measure of balance surged 1.7% against December 31, 2010, the Thoi Bao Kinh Te Viet Nam newspaper reported, citing the report of Ministry of Planning and Investment (MPI) about online meeting of the standing government with local officials on March 18. [...]

Vietinbank to ask permission to issue international bonds Posted: 20 Mar 2011 09:09 PM PDT Vietinbank's Deputy General Director Le Duc Tho said the bank modified the business plan in line with asking permission from the government and the State Bank of Vietnam to issue $500 million to $1 billion worth of international bonds in 2011. The bank is giving priority to raise capital through competitive products to attract domestic [...]

OceanBank offers dollar lending rate at 3.5pct/year for exporters Posted: 20 Mar 2011 09:09 PM PDT From March 2011, Ocean Commercial Joint Stock Bank (OceanBank) has launched a promotion program for exporters who commit to sell US dollar from export operations to OceanBank whereby the US dollar lending rate will be only 3.5% per annum. Additionally, the dong lending rate will also decreased by 1-2% per year for common loans with [...]

Five solutions to fight Dollarization: MoPI Posted: 20 Mar 2011 08:43 PM PDT The Ministry of Planning and Investment has suggested a package 5 solutions to fight dollarization, the state run online newspaper VnEconomy reported March 20. Firstly, taking macroeconomics actions to raise the country's forex reserves, actively regulating foreign exchange rates, avoiding big adjustments in exchange rates which may encourage hoarding dollar sentiment, diversifing foreign currencies to [...]

HCM City March CPI posts up 2.2%: GSO Posted: 20 Mar 2011 08:43 PM PDT Ho Chi Minh City consumer price index (CPI) is estimated to have increased to the highest level in 16 months of 2.2% on-month and 10.76% on-year in March 2011 on cost-push factors of higher fuel and electricity prices Ho Chi Minh City consumer price index (CPI) is estimated to have increased to the highest level [...]

Hanoi GDP estimated to expand 9.2% in Q1 2011 Posted: 20 Mar 2011 08:42 PM PDT Gross domestic product (GDP) Hanoi, the capital city, is estimated to have expanded 9.2% in the first quarter of this year Gross domestic product (GDP) Hanoi, the capital city, is estimated to have expanded 9.2% in the first quarter of this year, the Hanoi Statistic Office said. Industrial sector had the highest increase of 10.3%, [...]

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