Vietnam Business News

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• Vietnam Airlines boosts holiday services
• Vietnam’s first firm to borrow ODA capital
• LienVietBank assigned to serve Mong Duong 1 thermo power plant
• Interbank average forex rate jumps to 20,708 dong/dollar Apr 1
• Commercial banks face difficulties acquiring US dollars
• Vietnam’s March import and export estimated at $15.25b
• AirAsia wants to withdraw capital from VietJet Air
• Metro to develop integrated fish chain
• Maritime Bank to prioritize loans for core business projects
• Vietnam raises a key interest rate in inflation fight

Vietnam Airlines boosts holiday services Posted: 01 Apr 2011 01:23 AM PDT Vietnam Airlines will add 48 extra flights between 28 April and 3 May to meet the expected surge in demand for air travel during the Reunification Day-International Labor Day public holidays on 30 April and May 1. There will be eight additional flights each from Hanoi to Nha Trang, Danang, Ho Chi Minh City and [...]

Vietnam’s first firm to borrow ODA capital Posted: 01 Apr 2011 01:22 AM PDT Vietnam Development Bank (VDB), Hoa Phat Energy Joint Stock Co are likely to be granted a 319 billion dong credit by Japan International Cooperation Agency (Jica). Hoa Phat Energy Joint Stock Co and VDB's Hai Duong branch on March 30 signed a credit contract for the second phase of Coke plant project and Hoa Phat [...]

LienVietBank assigned to serve Mong Duong 1 thermo power plant Posted: 01 Apr 2011 01:21 AM PDT The governor of State Bank of Vietnam signed Decision No. 678/QD‐NHNN dated March 30 for assigning Lien Viet Commercial Joint Stock Bank (LienVietBank) to serve for the investment programme on Mong Duong 1 thermo power plant, the second loan offered by Asian Development Bank (ADB). This is the $902.85 million offered by ADB under the [...]

Interbank average forex rate jumps to 20,708 dong/dollar Apr 1 Posted: 01 Apr 2011 01:21 AM PDT The State Bank of Vietnam (SBV) has announced the average forex rate in the interbank market today (April 1) at 20,708 dong/US dollar, increasing 5 dong/US dollar from yesterday (20,703 dong/US dollar) and marking the fourth consecutive increase of the interbank forex rate. The interbank average forex rate today is still lower 5 dong/US dollar [...]

Commercial banks face difficulties acquiring US dollars Posted: 01 Apr 2011 01:20 AM PDT Agents authorised by commercial banks to buy US dollars are finding it hard to entice transactions with official exchange rate. The disparity between the official rates and those of the black market are very high. According to bank sources, many people are waiting to make any deposits in US dollars until the Government makes clearer [...]

Vietnam’s March import and export estimated at $15.25b Posted: 01 Apr 2011 01:20 AM PDT The general Department of Customs reported that Vietnam's total import and export in March was estimated at $15.25 billion, up 41.1 percent compared with February and trade deficit in this month reached $1.15 billion, up 3.4 percent from the previous month which was higher than the average of three months (about $1 billion per month). [...]

AirAsia wants to withdraw capital from VietJet Air Posted: 01 Apr 2011 01:19 AM PDT Malaysian airline AirAsia is requesting to withdraw capital from the private carrier VietJet Air as they have not reached agreement on brand name. AirAsia is holding 30 percent stake in the total 600 billion dong chartered capital of VietJet Air. VietJet Air's spokesperson confirmed that AirAsia wants to divest from the carrier. However, it is [...]

Metro to develop integrated fish chain Posted: 01 Apr 2011 01:18 AM PDT German-invested wholesale chain operator Metro Cash & Carry looks set to build up a high quality integrated fresh fish chain for the Vietnamese domestic market. The company on Wednesday organized a seminar to introduce a buying project for the Mekong Delta's aquaculture produce and a METROGAP project in the domestic fish supply chain. Metro plans [...]

Maritime Bank to prioritize loans for core business projects Posted: 01 Apr 2011 01:17 AM PDT Maritime Bank will prioritize lending to corporate clients, especially small and medium-sized enterprises (SME), to implement projects within their core business areas. Nguyen Dinh Tung, deputy general director of Maritime Bank, told reporters in HCM City on Tuesday that the bank was restructuring its credit portfolio with more loans for SMEs operating in the manufacturing [...]

Vietnam raises a key interest rate in inflation fight Posted: 01 Apr 2011 01:16 AM PDT Vietnam’s central bank on Friday increased the interest rate it charges on open market operations for the fourth time since the start of the year as it battles some of the highest inflation in the region. The State Bank of Vietnam hiked the reverse repurchase rate to 13% from 12%, according to an announcement seen [...]

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