Vietnam Business News

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• Vietnam’s total outstanding loans at about $125b
• Vietnam’s coffee export soars 103% in H1
• EVN, PVN forced to cut investment
• Preferred electricity prices for the poor
• Coal for export may suffer high tariff
• Government raises 17.5tr dong worth of G-bonds in three weeks
• June trade gap narrowed for gold re-export
• Local gold price slips 300,000 dong/tael
• Demand interest rate climbs to 12% pa
• Deutsche Bank becomes big shareholder of local firms

Vietnam’s total outstanding loans at about $125b Posted: 27 Jun 2011 01:17 AM PDT As reported by the State Bank of Vietnam (SBV), the total outstanding loans for the economy is equal to 1.2 times against the country's GDP in 2010, the local newswire Thanh Nien quoted data from the central bank. Accordingly, as of June 10, the bad debt of the entire banking system accounted for 2.72% of [...]

Vietnam’s coffee export soars 103% in H1 Posted: 27 Jun 2011 01:16 AM PDT The country's coffee export touched $1.93 billion during the first half of 2011, jumping 103% year-on-year thanks to doubling of export prices, according to data from General Statistics Office. Volume of coffee being shipped in the reporting period totaled at 878,000 tons, up 29.1% against one year earlier. In June alone, the coffee export reached [...]

EVN, PVN forced to cut investment Posted: 27 Jun 2011 01:15 AM PDT The Electricity of Vietnam (EVN) and PetroVietnam now account for a half of total investment capital of state groups and corporations under the latest inspection. And two giants will have to cut investment capital within this year according to the government's Resolution No 11. The statement was made in the Ministry of Planning and Investment's [...]

Preferred electricity prices for the poor Posted: 27 Jun 2011 01:14 AM PDT The ratios of poor households and low-income households that are enjoying preferred electricity prices in big cities (Hanoi, HCM City…) account for only 22% and 18.6%, respectively. The figure was reported by Vietnam Electricity Authority to Ministry of Industry and Trade about these households with the electricity consumption of less than 50 kWh a month. [...]

Coal for export may suffer high tariff Posted: 27 Jun 2011 01:14 AM PDT A source from Ministry of Finance said that the agency is drafting an export tariff frame on coal, accordingly the expected tariff may be raised to 20% instead of current 15%. This is seen as one of measures to control and curb export of material coal while the resource is running out. The plan was [...]

Government raises 17.5tr dong worth of G-bonds in three weeks Posted: 27 Jun 2011 01:13 AM PDT Hanoi Stock Exchange (HNX) has recently reported the auction results of G-bonds issued by the State Treasury held on late June 23 via the northern bourse whereby the State Treasury offered seven trillion dong worth of G-bonds for 2-year term (2.5 trillion dong), 3-year (2.5 trillion dong) and 5-year (two trillion dong). Accordingly, as for [...]

June trade gap narrowed for gold re-export Posted: 27 Jun 2011 01:13 AM PDT June export of Vietnam is estimated to reach $7.8 billion while the import gains $8.2 billion, representing a trade gap of $400 million. Thus, the trade deficit of the first half of 2011 is around $6.65 billion, the Thoi Bao Kinh Te Vietnam reported, citing data of General Statistics Office (GSO). June also is the [...]

Local gold price slips 300,000 dong/tael Posted: 27 Jun 2011 01:12 AM PDT The local gold price today morning saw a strong fall of 280,000-290,000 dong/tael as the gold price in the world market declined sharply nearly $33 per ounce. The gold price for spot delivery according to Kitco also dropped $24 day on day. Currently, the gold price in the domestic market is about 37.9 million/tael (selling [...]

Demand interest rate climbs to 12% pa Posted: 27 Jun 2011 01:12 AM PDT Demand interest rates, after a silent phase, were raised to 12% per annum by banks, the Lao Dong newspaper reported. Lately, Southeast Asia Commercial JS Bank or SeABank launched the product of intelligent saving account namely SeASave Smart Business for corporate customers and another SeASave Smart Pro for self-business and small enterprises. Two products have [...]

Deutsche Bank becomes big shareholder of local firms Posted: 27 Jun 2011 01:09 AM PDT Deutsche Bank AG London became the big shareholder of FPT Joint Stock Co on June 22 after raising its holding ratio in the local firm to 5.03% from 4.98%. In details, the foreign investor's ownership in FPT JSC was raised from 9,616,068 shares to 9,710,528 shares equaling to 5.03% stake. In addition, the foreign organization [...]

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