Vietnam Business News

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• Bad property debts stand at 3% by end-June
• Long An August cpi slows down to 0.68%
• How to deal with sovereign debts: mobilizing domestic or foreign sources?
• Retailers earn less on soaring inflation
• Wooden furniture exporters need low interest rates, not tax incentives
• Genetically modified maize successfully tested
• New regulations on cross-border cash carrying
• Investing in renewable energy to save power
• Aug 18: Vietnam gold steady, banks raise dollar bid
• Apartment price in HCM City falls against 2008

Bad property debts stand at 3% by end-June Posted: 18 Aug 2011 01:08 AM PDT Bad debts accounted for 3% of the total VND245 trillion outstanding loans for property at the end of June, Le Xuan Nghia, vice chairman of the National Financial Supervisory Committee said at a meeting today. Worse still, loss loans ( loans are considered uncollectible) comprised of up to 40% of the bad debts, local news [...]

Long An August cpi slows down to 0.68% Posted: 18 Aug 2011 01:07 AM PDT Consumer Price Index in Long An province in August slowed down to 0.68% from 0.93% in July, said the provincial Department of Industry and Trade. August data sent the figure to rise 16.08% from December last year. On the upside, prices of housing, electricity, water, construction materials topped the list with an increase of 2.83%. [...]

How to deal with sovereign debts: mobilizing domestic or foreign sources? Posted: 18 Aug 2011 01:04 AM PDT Though the government's officials have affirmed that the sovereign foreign debt is still within the safety line, worries still have been raised about the rapid increases of the debts. "The total foreign debts by December 31, 2010 had reached 42.2 percent of GDP. Though the debt ratio remains within the safety line, the sovereign foreign [...]

Retailers earn less on soaring inflation Posted: 18 Aug 2011 01:03 AM PDT Profit margin of retailers slumped dramatically in the first seven months of the year, while sales moved up on rising consumer price. The Hanoi Supermarket in Ho Chi Minh City's District 1 earned an average profit margin of 3 percent measly in the last three months, says Nguyen Thi Hai, director of a supermarket in [...]

Wooden furniture exporters need low interest rates, not tax incentives Posted: 18 Aug 2011 01:02 AM PDT Wooden furniture exporters now have products, but cannot sell them, they have orders, but dare not sign contracts. Vietnamese products have become less competitive on the international market because of the high interest rates. The high inventory level has made wooden furniture manufacturers groan. They cannot sell their products because the products are not competitive [...]

Genetically modified maize successfully tested Posted: 18 Aug 2011 01:01 AM PDT The experimental growing of genetically modified (GM) maize in the Central Highland province of Dak Lak has showed good results with higher yield, quality and anti-pest capacity than normal maize grown in the same conditions. The information was released at a seminar on improving public awareness of GM maize jointly held by the Ministry of [...]

New regulations on cross-border cash carrying Posted: 18 Aug 2011 01:01 AM PDT The State Bank of Vietnam has issued a circular stipulating the bringing of foreign currency in cash and Vietnam dong in cash by individuals when leaving or entering the country. Under Circular No. 15/2011/TT-NHNN, individuals who carry over US$5,000 or other foreign currencies that have equal value and more than VND15 million must make customs [...]

Investing in renewable energy to save power Posted: 18 Aug 2011 01:00 AM PDT Many families and businesses have started using energy-saving products to cope with the soaring prices of electricity, petrol, and gas. However, there remain certain snags in developing renewable energy in Vietnams. Innovations Many innovations have been introduced in response to the energy-saving campaign launched by the Ho Chi Minh City Power Corporation. The family of [...]

Aug 18: Vietnam gold steady, banks raise dollar bid Posted: 17 Aug 2011 10:08 PM PDT Vietnam gold was steady in line with global market movement but was still VND520,000 higher than the global market. Banks raised dollar bid. As of 10:00 Hanoi time, Sacombank-SBJ gold was listed at VND45.41 million/tael and VND45.47 million/tael for bid and ask, respectively. SJC in Hanoi was listed at VND45.35 million/tael and VND45.52 million/tael for [...]

Apartment price in HCM City falls against 2008 Posted: 17 Aug 2011 09:32 PM PDT In the 2007-2008 period, the real estate market was overheated so the prices of apartments as well as land were doubled compared with costs which investors had spent. At that time, the price of medium-class apartments was 20-30 million dong per square meter, especially that of The Manor, Saigon Pearl was pushed to more than [...]

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