Vietnam Business News

---

• Vietnam’s money supply estimated at vnd2,500 ytd
• Foreigners cut net buying of Vietnamese shares by 79.6% in july
• Vietnam sees 13 export staples top $1bln in jan-july
• Vietnam records 0.5mln tons of steel inventory
• SMEs at risk of bankruptcy due to economic meltdown
• Power development strategy break and electricity shortage inevitable
• Budget revenue, tax debt rising
• Eximbank enters world’s top 25 banks with highest growth
• Firms requested to help limit Vietnam’s trade deficit
• Gold should be considered a product

Vietnam’s money supply estimated at vnd2,500 ytd Posted: 02 Aug 2011 12:01 AM PDT Vietnam's total money supply was estimated at VND2,500 trillion ($121.36 billion) since early 2011 up to date, the Dien Dan Doanh Nghiep online newspaper reported Friday, citing the State Bank of Vietnam (SBV)'s statistics. Of the total, VND2,100 trillion ($101.9 billion) are being kept at local banks under the form of deposits and the remaining [...]

Foreigners cut net buying of Vietnamese shares by 79.6% in july Posted: 02 Aug 2011 12:01 AM PDT Foreign players slowed down their net buying activities in to Vietnamese shares by 79.6% on month to VND150.86 billion ($7.32 million) in July the state-run Dau tu Chung khoan newspaper reported August 1, 2011. They net bought VND129.7 billion on the Hochiminh Stock Exchange (HOSE), and VND22.16 billion on the Hanoi Stock Exchange (HNX), but [...]

Vietnam sees 13 export staples top $1bln in jan-july Posted: 02 Aug 2011 12:00 AM PDT Vietnam recorded 13 export staples with revenues of over $1 billion each in the first seven months of this year, the government's General Statistics Office said. The 13 products were seafood; coffee; rice; crude oil; petroleum products; rubber; wood products; apparel; footwear; gemstones and precious metals; computers, electronics and spare parts; machinery, equipment and spare [...]

Vietnam records 0.5mln tons of steel inventory Posted: 01 Aug 2011 11:59 PM PDT Vietnam Steel Association (VSA) said enterprises in the industry had nearly 0.5 million tons of steel in inventory as at the end of Q2/2011 due to slow sales in the quarter. Sales in the second quarter fell as demand plunged on public investment cut. Most of steel mills run at 50-60% capacity meanwhile many new [...]

SMEs at risk of bankruptcy due to economic meltdown Posted: 01 Aug 2011 11:57 PM PDT "The profit margin in the first half of the year was measly 5 percent, while the inflation in the first half soared to nearly 14 percent. I suffer heavy losses," says director of a Ho Chi Minh City-based textile enterprise. The director, who has 3,300 employees and 80 outlets, considers turning her factory with a [...]

Power development strategy break and electricity shortage inevitable Posted: 01 Aug 2011 11:56 PM PDT In order to develop power plants, Vietnam needs to have huge capital, while it is seriously lacking capital. Meanwhile, the current low electricity prices cannot attract foreign investors. Therefore, failing to fulfill the development strategy proves to be unavoidable. The Prime Minister has approved the plan on national power development for 2011-2020, which is called [...]

Budget revenue, tax debt rising Posted: 01 Aug 2011 11:56 PM PDT By May 2011, Vietnam's tax debt had amounted to VND32,080 billion, according to the Ministry of Finance (MoF). MoF reported that budget revenue in July hit VND51,510 billion, or VND4,770 billion higher than June, bringing the country's total budget revenue in the past seven months to more than VND386,000 billion, up 21 percent over the [...]

Eximbank enters world’s top 25 banks with highest growth Posted: 01 Aug 2011 11:55 PM PDT Vietnam Export Import Commercial Joint Stocks Bank (Eximbank) has entered the world's top 25 banks with high growth rates, announced The Banker, an international financial affairs publication. Eximbank is the only bank in Vietnam and the Southeast Asian region to enter this year's top rankings and also the world's top 1,000 banks. The Banker's Top [...]

Firms requested to help limit Vietnam’s trade deficit Posted: 01 Aug 2011 11:55 PM PDT Domestic businesses must cooperate in the promotion of production and export to curb the trade deficit. Le Danh Vinh, deputy minister of Industry and Trade, made this comment while taking part in an online meeting in Hanoi on August 2. According to Vinh, private and state corporations have managed to overcome exchange rate difficulties in [...]

Gold should be considered a product Posted: 01 Aug 2011 11:55 PM PDT Gold should be considered a product that requires intervention to ensure that the market operates transparently and is connected to the world. Recently, the State Bank of Vietnam (SBV) proposed that the Finance Ministry increase the tax rate on gold. A VOVNews reporter interviewed economist Vu Dinh Anh about the import and export of gold. [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610