Vietnam Business News

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• ADB lends $239m for building urban railway route in Hanoi
• Vietnam exports 1m tones of coal in Mar
• PetroVietnam contributes 20pct to Vietnam’s GDP
• VFA changes investment model
• Compulsory reserve ratio increase should not be delayed
• Interest rate on interbank market hots up
• SBV expects 2011 BOP surplus at $2 bln
• FIEs pledge to invest more in manufacturing projects
• Five items post export turnover of over $1b
• Vietnam deficits require ‘urgent’ attention: UN expert

ADB lends $239m for building urban railway route in Hanoi Posted: 30 Mar 2011 02:29 AM PDT The board of directors of Asian Development Bank (ADB) has lately passed fundings for the construction of urban railway route in Hanoi with total loans of $239 million. The project has investment capital of $1 billion dong, with total length of 12.5 kilometres from Hanoi Railway Station to Nhon, Tu Liem Dist, Hanoi. The construction [...]

Vietnam exports 1m tones of coal in Mar Posted: 30 Mar 2011 02:27 AM PDT During the first three months this year, Vietnam's coal export saw a strong fall in both quantity and value against the same period last year. According to the General Statistics Office (GSO), the country exported one million tones of coal in March, earning $91 million, increasing nearly 120% in volume and 59.6% in value compared [...]

PetroVietnam contributes 20pct to Vietnam’s GDP Posted: 30 Mar 2011 02:26 AM PDT Ending the year 2010, Vietnam National Oil and Gas Group (PetroVietnam‐PVN) reported gaining more than 4.8 trillion dong of revenue, equalling $24 billion and accounting for 20 percent of Vietnam's gross domestic product (GDP). At the seminar introducing "development opportunities of Vietnam's oil and gas sector" with the Dutch enterprises organised by the Ministry of [...]

VFA changes investment model Posted: 30 Mar 2011 02:24 AM PDT In 2011, VFA will combine two indexes on both bourses Hochiminh Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX) to make decision in stock buying and selling instead of investing according to the VN Index like in 2010. The fund's cash holding now accounts for 70%. The annual shareholders’ meeting 2011 of Vietnam Active Fund [...]

Compulsory reserve ratio increase should not be delayed Posted: 30 Mar 2011 02:22 AM PDT Required reserve ratio is a tool of monetary policy, which has strong and immediate effect. It is usually used by central banks to reduce money supply and curb inflation. For example, the central bank of China has just raised required reserve ratio for commercial banks to 20 percent, in order to curb inflation. In Vietnam, [...]

Interest rate on interbank market hots up Posted: 30 Mar 2011 02:21 AM PDT High capital needs of some small banks to meet immediate liquidity may be the main cause leading to the significant heating up of interest rates on the inter‐bank market, the state‐run newspaper Lao Dong reported on March 29. By the end of last week, according to the latest data announced by the State Bank of [...]

SBV expects 2011 BOP surplus at $2 bln Posted: 30 Mar 2011 02:20 AM PDT The central bank governor has said that if the trade gap is successfully cut to less than 16% of export revenue, Vietnam's Balance of Payments this year will have a surplus of up to US$2 billion. Speaking at the National Assembly in Hanoi on Saturday, Nguyen Van Giau said the BOP was in surplus in [...]

FIEs pledge to invest more in manufacturing projects Posted: 30 Mar 2011 02:18 AM PDT Foreign-invested enterprises (FIEs) have committed to pour more capital in manufacturing projects with rapid disbursement speed during the last 3 months, the Thoi Bao Kinh Te Sai Gon reported, citing data of Ministry of Planning and Investment's Foreign Investment Department. According to the department, in March alone, the country has attracted $814 million of foreign [...]

Five items post export turnover of over $1b Posted: 30 Mar 2011 02:18 AM PDT In March, there were five commodities gaining the export turnover of more than $1 billion including apparel products, footwear, crude oil, coffee and seafood products. According to the General Statistics Office of Vietnam (GSO), in the first three months this year, apparel products brought the highest export turnover of $2.8 billion, rising 27.9 percent against [...]

Vietnam deficits require ‘urgent’ attention: UN expert Posted: 30 Mar 2011 02:17 AM PDT Vietnam’s budget and trade deficits require ‘urgent attention’ or its servicing of foreign debt may come at the expense of its social spending, a United Nations expert said on Tuesday. That could ultimately impinge upon Vietnamese peoples’ rights to things like education, social security and health care, said Cephas Lumina, U.N. independent expert. ‘These two [...]

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