Vietnam Business News

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• Agricultural sector aims to boost added value
• Vietnam Airlines opens more routes to Taiwan
• SBV not mention extending non-production loan collection deadline
• SBV shouldn’t impose 20% cap of credit growth to all banks
• Fruit farmers target higher standards
• Lien Viet Bank changes name
• Work starts on cosmetics factory
• Retail sales growth slows due to inflation
• City to hold tra catfish conference
• Vietnam gold reaches 37.75M

Agricultural sector aims to boost added value Posted: 30 May 2011 11:59 PM PDT The agricultural sector plans to raise the added value of its products by at least 20 per cent in the next decade. The target is set as the volume and value of exports of Vietnamese farm produce increase constantly in the recent years, but farmers' income did not increase in correlation. Additionally, 90 per cent [...]

Vietnam Airlines opens more routes to Taiwan Posted: 30 May 2011 11:58 PM PDT Vietnam Airlines is to open a route from Hanoi to Kaohsiung city of Taiwan on June 17, making it the fourth from Vietnam to the island. The national flag carrier has said the route, with three flights weekly, will increase flights from Vietnam to Taiwan to 28 weekly and its international routes to 46. It [...]

SBV not mention extending non-production loan collection deadline Posted: 30 May 2011 10:12 PM PDT The State Bank of Vietnam (SBV) didn't mention extending non-production collection deadline in a meeting with Ho Chi Minh city based banks on May 30 to investigate the banks' process of collecting non-production loans. The State Bank of Vietnam (SBV) didn't mention extending non-production collection deadline in a meeting with Ho Chi Minh city based [...]

SBV shouldn’t impose 20% cap of credit growth to all banks Posted: 30 May 2011 10:12 PM PDT The State Bank of Vietnam shouldn't impose the cap of 20% credit growth and 16% non-production loans out due to different business strategies of local lenders, Tran Hoang Ngan, Member ofthe National Advisory Council for Monetary Policies was quoted. The State Bank of Vietnam shouldn't impose the cap of 20% credit growth and 16% non-production [...]

Fruit farmers target higher standards Posted: 30 May 2011 10:10 PM PDT Several fruits in the southern region are being cultivated under Good Agricultural Practices standards and have high export value, according to the Plant Cultivation Department under the Ministry of Agriculture and Rural Development (MARD). The fruits, including Nam Roi grapefruit, Hoang Hau dragonfruit, Tan Trieu grapefruit and Lo Ren milkfruit, are certified under the Vietnamese [...]

Lien Viet Bank changes name Posted: 30 May 2011 08:40 PM PDT Shareholder meeting of Lien Viet Commercial Joint Stock Bank (LienVietBank) last week agreed to change the bank’s name to Lien Viet Post Commercial Joint Stock Bank. Viet Nam Post Corporation (VNPost) will become a major shareholder in the bank. The deal allows VNPost to use its subsidiary Postal Saving Service Company (VPSC) to make capital [...]

Work starts on cosmetics factory Posted: 30 May 2011 08:37 PM PDT Tra Giang International Beauty and Cosmetics Co recently started construction of a cosmetics manufacturing and packaging plant in Dong Tho Industrial Zone in Bac Ninh Province. The plant, which will occupy a 6,400sq.m area, has a total capital investment of VND50 billion (US$2.4 million). It is expected to be operational in October. The plant will [...]

Retail sales growth slows due to inflation Posted: 30 May 2011 08:36 PM PDT The retail sales value of goods and services increased by only 0.68 per cent to VND156 trillion (US$7.4 billion) during May. Compared to previous months, May saw the lowest increase in sales value, according to the Domestic Market Watch Board run by the Ministry of Industry and Trade. The total retail sales value during the [...]

City to hold tra catfish conference Posted: 30 May 2011 08:35 PM PDT The Centre for Financial Data Research and Analysis GAFIN and Viet Nam Association of Seafood Exporters and Producers (VASEP) will co-organise a conference entitled “Viet Nam’s tra fish – Vision for 2015″ on Saturday in HCM City. The conference will focus on clarifying the current economic and production situation and offer industry solutions. In addition, [...]

Vietnam gold reaches 37.75M Posted: 30 May 2011 08:35 PM PDT Here’s a snapshot of the Vietnamese dong, gold and interbank lending rates at 0220 GMT. May 31 May 30 USD/VND mid-point 20,643 20,643 USD/VND interbank 20,500/20,650 20,510/20,610 USD/VND unofficial 20,530/20,550 20,530/20,550 Gold (mln dong per tael) 37.76/37.85 37.66/37.75 Interbank offered rates Overnight 12.5 12.5-13 1 Week 14-15 15 1 Month 16-17 17 3 Months 18-19 [...]

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