Vietnam Business News

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• Vietnam central bank orders more loans for food production
• Aug 16: Vietnam gold rebounds, trading at vnd500,000/tael premium to global market
• Fertiliser maker receives merit award
• Firms bemoan inflation, monetary policies
• Slow construction industry weighs on materials sales
• US bilateral trade rises by 21% in first half
• Tien says Vietnam will ensure safety at nuclear power plants
• Vietnam targets $10b for new major airport
• Vietnam bonds decline as demand from banks wanes; dong gains
• Aug 16: Vietnam central bank holds dollar exchange rate at vnd20,618, banks lower bids

Vietnam central bank orders more loans for food production Posted: 16 Aug 2011 12:05 AM PDT The Governor of State Bank of Vietnam on August 15 issued document No 6368/NHNN-TD asking commercial banks to boost lending for food and foodstuff production. The governor requests local banks to strictly follow Resolution 11/NQ-CP to prioritize capital to production and businesses. Banks should actively balance capital sources to spare loans for agriculture, livestock facilities [...]

Aug 16: Vietnam gold rebounds, trading at vnd500,000/tael premium to global market Posted: 16 Aug 2011 12:04 AM PDT Vietnam gold regained VND400,000 a tael today following suit of global rally last night on concerns over economy. Local banks cut dollar bid by VND40-60 but kept offer unchanged. As of 10:30 Hanoi time, Sacombank-SBJ gold was listed at VND44.59 million/tael and VND44.69 million/tael for bid and ask, respectively, up VND300,000 from the same time [...]

Fertiliser maker receives merit award Posted: 15 Aug 2011 09:11 PM PDT A prime ministerial Certificate of Merit was on Sunday handed over to the PetroVietnam Fertilizer and Chemicals Corp for its contribution to the national development. The company has produced 5 million tonnes of urea fertilizer after seven years in operation, said general director Cao Hoai Duong. It currently holds around 50 per cent of the [...]

Firms bemoan inflation, monetary policies Posted: 15 Aug 2011 09:10 PM PDT Economic groups, corporations and big companies voiced their concerns over severely tightened monetary policies at a forum in Ha Noi last week. The forum evaluated inflation’s impact and Government Resolution 11, which aimed to curb inflation. The Bank for Investment and Development of Viet Nam (BIDV) organised and conducted the meeting. Contributors revealed that in [...]

Slow construction industry weighs on materials sales Posted: 15 Aug 2011 09:09 PM PDT The building materials market has had a tough time lately due to a downturn in the building industry and increased production. The Viet Nam Building Material Association said production at factories making cement and ceramic tiles had increased against the same period last year while consumption had reduced. Nguyen Thi Thuy, owner of Tien Thuy [...]

US bilateral trade rises by 21% in first half Posted: 15 Aug 2011 09:09 PM PDT Two-way trade between Viet Nam and the US topped over US$10 billion in the first half of this year, surging 21 per cent against the same period last year, according the US International Trade Commission. During the period, Viet Nam exported goods worth $7.94 billion to the US, a yearly rise of 21.4 per cent, [...]

Tien says Vietnam will ensure safety at nuclear power plants Posted: 15 Aug 2011 09:07 PM PDT Le Dinh Tien, Vietnam's deputy minister of science and technology, said the country considers safety a priority in its nuclear energy development following the disaster in Japan earlier this year. Tien was commenting in Hanoi today on the challenges that the Southeast Asian nation may face when implementing its first nuclear projects. On Vietnam's nuclear [...]

Vietnam targets $10b for new major airport Posted: 15 Aug 2011 09:03 PM PDT The Vietnamese government plans to issue bonds, tap official development assistance funding and seek private funds to raise $10 billion to build the country's biggest airport over the next decade, a state-run newspaper reports. The infrastructure of the Long Thanh airport in the southern province of Dong Nai will be built by funds provided by [...]

Vietnam bonds decline as demand from banks wanes; dong gains Posted: 15 Aug 2011 09:03 PM PDT Vietnam's government bonds fell after a debt auction by a state lender failed last week. The dong gained the most in almost two weeks. The Vietnam Bank for Social Policies, a lender that raises money mainly for the government's social-welfare projects, failed to sell notes at an auction on Aug. 12, according to the Hanoi [...]

Aug 16: Vietnam central bank holds dollar exchange rate at vnd20,618, banks lower bids Posted: 15 Aug 2011 09:03 PM PDT Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,618 on Tuesday, unchanged for 6 straight days but banks lowered dollar bid. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, hence, the ceiling price for a dollar today was VND20,824. Commercial banks [...]

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