Vietnam Business News

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• Agricultural insurance to be launched on pilot basis from today
• 3G network flourishes in HCM City
• Foreign investors return as net buyers on SEs
• Many banks still stuck in changing capital status
• Banks offering non-production loans on strict conditions
• H1 unemployment rate falls
• Vietnam imports 31,600 CBU cars in H1
• Per capita income of the richest higher 9.2 times than the poorest in 2010, GSO reports
• Vietnam Airlines to expand fleet to 110 aircraft by 2015
• Jul 1: VN-index plummets on higher inflation forecast

Agricultural insurance to be launched on pilot basis from today Posted: 01 Jul 2011 12:55 AM PDT On July 1, the agricultural insurance service will officially be piloted in 21 provinces/cities, the Dau Tu Chung Khoan newspaper reported. Accordingly, the service includes insurance for paddy plant in Nam Dinh, Thai Binh, Nghe An, Ha Tinh, Binh Thuan, An Giang, Dong Thap; insurance for livestock and poultry in Bac Ninh, Nghe An, Dong [...]

3G network flourishes in HCM City Posted: 01 Jul 2011 12:54 AM PDT The total number of 3G new subscribers in the first five months of this year was equal to the figure of the whole year 2010 and the capacity also increased 4,000 times over the same period last year, the Vietnam military-run telecommunication firm, Viettel, quoted report in Jan-May in HCM City. The use of 3G [...]

Foreign investors return as net buyers on SEs Posted: 01 Jul 2011 12:54 AM PDT In the trading session on Jun 29, foreign investors returned to be net buyers on both bourses Hochiminh Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX). Accordingly, on the southern bourse, they bought 70 share codes (with a total volume of 2,666,420 units) worth 116.3 billion dong and sold 51 share codes (2,826,910 units) valued [...]

Many banks still stuck in changing capital status Posted: 01 Jul 2011 12:53 AM PDT June 30 is the deadline for all credit institutions (that previously had converted gold deposits to the dong for lending) to covert capital status, but till now many of lenders have not completed their off-balance sheet. Ho Huu Hanh, Director of the SBV-HCM City Branch on June 28 told VnExpress that many banks in the [...]

Banks offering non-production loans on strict conditions Posted: 01 Jul 2011 12:48 AM PDT Although announcing to stop offering non-production loans, some banks that still have room for credit growth limit are providing loans with stricter conditions, the local newswire Thanh Nien reported on June 28. Staff of Asia Commercial Joint Stock Bank (ACB) said that this bank is still offering unsecured loans with the highest limit of 300 [...]

H1 unemployment rate falls Posted: 01 Jul 2011 12:48 AM PDT The labour force of Vietnam during the first six months of 2011 fell compared with the same period of last year, the Thoi Bao Kinh Te Vietnam reported, citing data of the General Statistics Office (GSO). The country now has 46.4 million people at labour age, down 7,200 against one year earlier. In which, 24.6 [...]

Vietnam imports 31,600 CBU cars in H1 Posted: 01 Jul 2011 12:47 AM PDT Vietnam’s import for CBU cars in June was 4,800 units worth $85 million, falling strongly in both volume and value from previous months, General Statistics Office (GSO) reported. In the previous month, the country imported 5,300 units valued at $116 million and the figure in April was 5,500 units for $113 million. Totally in Jan-Jun, [...]

Per capita income of the richest higher 9.2 times than the poorest in 2010, GSO reports Posted: 01 Jul 2011 12:45 AM PDT The per capita income of the richest household group was 9.2 times higher than the poorest households in 2010, according to a survey of the General Statistics Office (GSO), showing that the gap between the rich and the poor in Vietnam is tending to rise. The gap of income, and the difference between the rich [...]

Vietnam Airlines to expand fleet to 110 aircraft by 2015 Posted: 01 Jul 2011 12:35 AM PDT National carrier Vietnam Airlines has sought government approval to invest $8.38 billion to expand its fleet, taking it to 110 aircraft by 2015 in the first phase, a state-run newspaper reported on Friday. The airline is currently operating around 300 flights a day with 68 aircraft, including two Fokkers. It wants to take its total [...]

Jul 1: VN-index plummets on higher inflation forecast Posted: 01 Jul 2011 12:34 AM PDT Stocks on the Hochiminh Stock Exchange plunged on Friday, dragging the market benchmark VN-Index to a one-month low, after the Ministry of Investment and Planning raised CPI forecast to 17-18% this year, well above initially projected 7%. The confidence in a loosened credit policy, particularly interest rate cut, eroded after Minister Vo Hong Phuc raised [...]

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