Vietnam Business News

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• Vietnam tightens control over state-bank partnership
• RoK keen to order rice from Vietnam
• Hanoi offers loans to stabilize prices
• Viettel’s foreign markets reach 83m population
• VietinBank sets aside of 30tr dong for auxiliary industry development
• Allowably attached cash volume for country entry and exit
• SBV signs decree on strategic shareholders
• Vietnam’s May CPI forecast at 2pct: market operator
• Gov’t to keep close eye on price hikes
• Supermarkets baulk at high supplier prices

Vietnam tightens control over state-bank partnership Posted: 28 Apr 2011 12:05 AM PDT The State Bank of Vietnam (SBV) has put more restriction on strategic investors in state banks being privatized, the central bank said in a circular released late on Tuesday. Specifically, foreign investors seeking to buy 15% or more of a Vietnamese state-owned bank must have total assets of at least $20 billion in the year [...]

RoK keen to order rice from Vietnam Posted: 28 Apr 2011 12:04 AM PDT The Republic of Korea (RoK) plans to import 347,658 tonnes of rice in 2011 and is keen to order from Vietnam. The news was released at a conference in Hanoi on April 28 co-organised by the Vietnamese Ministry of Industry and Trade, the Vietnam Food Association, and the RoK Ministry of Food, Agriculture, Forestry and [...]

Hanoi offers loans to stabilize prices Posted: 28 Apr 2011 12:04 AM PDT The Hanoi municipal People's Committee has decided to provide local enterprises with non-interest loans worth VND475 billion to buy and stock essential goods as part of its price stabilisation plan for 2011. Accordingly, local businesses will use the money to buy ten kinds of essential goods, including rice, pork, poultry meat, eggs, sugar, cooking oil, [...]

Viettel’s foreign markets reach 83m population Posted: 27 Apr 2011 09:09 PM PDT With the investments in five foreign countries including Cambodia, Laos, Haiti, Mozambique and Peru, the Vietnamese military-run telecommunication firm, Viettel, so far has had one more market with more than 83 million population, approximately Vietnam's population. This is a great advantage for Viettel in procurement as well as research and manufacturing telecommunication equipments, Viettel said. [...]

VietinBank sets aside of 30tr dong for auxiliary industry development Posted: 27 Apr 2011 09:08 PM PDT In the fiscal year of 2011, VietinBank (CTG) will set aside of 30 trillion dong for auxiliary industry development with lower lending rate than its common loan rate, Vo Minh Tuan, VietinBank’s deputy general director confirmed at the seminar on “Auxiliary Industry Development and Promotion” co-held by Japan International Cooperation Agency (Jica) and Enterprises Development [...]

Allowably attached cash volume for country entry and exit Posted: 27 Apr 2011 09:06 PM PDT As from July 1, many individuals who exit or enter Vietnam may be limited in a volume of allowably attached cash of dong at maximum 15 million dong along with the line of no more than $5,000 or equivalent currencies, according to a draft circular recently announced by the State Bank of Vietnam, the VnExpress [...]

SBV signs decree on strategic shareholders Posted: 27 Apr 2011 09:06 PM PDT The State Bank of Vietnam Governor on April 22 signed Circular No 10/2011/TT-NHNN regulating criteria of selecting strategic shareholders for equitised state commercial banks. The circular will be enforced from June 1, 2011. Accordingly, strategic shareholders of equitised commercial banks must qualify the requirements as follows: - Having strategy matching with development strategy of equitised [...]

Vietnam’s May CPI forecast at 2pct: market operator Posted: 27 Apr 2011 09:05 PM PDT At the meeting on April 26, the domestic market operation group said that the price of essential goods in the world market in May will continue complicated evolution, especially the fuel price will continue to affect the import fuel and material prices as well as cause price increasing pressures on commodities market. Additionally, the electricity [...]

Gov’t to keep close eye on price hikes Posted: 27 Apr 2011 09:01 PM PDT The recent rise in the cost of essential commodities such as electricity, petroleum and coal has significantly affected the socio-economy. Director of the Ministry of Finance’s Pricing Department Nguyen Tien Thoa talked about its impacts and Government measures to control it. After approving an increase in the prices of electricity and petroleum in March, the [...]

Supermarkets baulk at high supplier prices Posted: 27 Apr 2011 09:01 PM PDT Several supermarkets in HCM City have refused to accept the price of various suppliers, leaving market stalls temporarily empty. Customers shopping at the Big C Supermarket Mien Dong in District 10 on Tuesday could see signs that read “Big C out of products because of supplier prices” at several stalls selling cookies. Similarly, some stalls [...]

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