Vietnam Business News

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• National Assembly’s Economic Committee for reforming the banking system
• Total deposits and outstanding loans of Hanoi-based banks decline in Aug
• Eximbank eans consolidated profit of 1.262tr dong in H1
• Steel inventory reaches 420,000 tones: VSA
• Urgent steps necessary to boost real estate market
• Foreign investors hold 30pct of property projects in Da Nang
• Entrepreneurs move to private firms
• Slow construction causes steel build up
• Resort villas bask in sunshine amid gloom of property market
• Southern tourism triangle offers new investment opportunities

National Assembly’s Economic Committee for reforming the banking system Posted: 22 Aug 2011 09:26 PM PDT National Assembly’s Economic Committee has recently proposed to reform the banking system, and this will be also a prioritized task of the State Bank of Vietnam (SBV)’s newly-appointed governor for this term. Accordingly, Vu Viet Ngoan, chairman of National Assembly’s Economic Committee, said that the restructuring and reforming to improve the quality is an objectively [...]

Total deposits and outstanding loans of Hanoi-based banks decline in Aug Posted: 22 Aug 2011 09:26 PM PDT In August, the total deposits of Hanoi-based credit institutions were estimated to reach 751.979 trillion dong, falling 0.98% from July and equaling to 94.56% from December 2010. Of which, savings saw a fall of 0.9% but valuable paper issuances increased 1.1%. The deposit for payment decreased 1.5% and was equal to 90.1% from the end [...]

Eximbank eans consolidated profit of 1.262tr dong in H1 Posted: 22 Aug 2011 09:25 PM PDT Vietnam Export Import Commercial Joint Stock Bank (Eximbank-EIB) has recently announced its consolidated business results in Q2 with a two-fold year on year increase in net interest income to reach 1.26 trillion dong. Its profit from services reached 87.6 billion dong in Q2. However, the lender suffered a loss of over 15 billion dong from [...]

Steel inventory reaches 420,000 tones: VSA Posted: 22 Aug 2011 09:24 PM PDT The total volume of steel inventory reached 420,000 tones, marking a high level against the allowable average steel inventory of about 250,000 tones, Nguyen Tien Nghi, vice chairman of Vietnam Steel Association (VSA) said. Statistics showed that in July, the country's total steel production output reached nearly 310,000 tonnes and steel consumption reached 359,000 tonnes, [...]

Urgent steps necessary to boost real estate market Posted: 22 Aug 2011 09:24 PM PDT Along with urgent solutions that the gloomy real estate market requires at this time, Ministry of Construction and experts said that enterprises also have to rescue themselves before waiting for "miracle" from banks, the VnExpress reported. Data from the National Finance Supervision Committee last week showed that by June 30, the property-backed outstanding loans accounted [...]

Foreign investors hold 30pct of property projects in Da Nang Posted: 22 Aug 2011 09:23 PM PDT In a seminar on Da Nang real estate market- the situation, potential and opportunity held recently in Hanoi, Phung Tan Viet, vice chairman of Da Nang People's Committee, said the city has 56 real estate projects with a total investment of over $3.5 billion, in which 30% are foreign-invested projects. Till the end of June [...]

Entrepreneurs move to private firms Posted: 22 Aug 2011 09:19 PM PDT Tran Kim Thanh, chairman of the HCM City Stock Exchange-listed confectioner Kinh Do Corp, and his wife registered to sell all of their 14.5 million shares in the company this month. Thanh explained he was merely consolidating his family’s holdings under the PPK one-member limited company owned by him to ensure more effective management. He [...]

Slow construction causes steel build up Posted: 22 Aug 2011 09:18 PM PDT With construction already in its annual seasonal slump, sales of construction steel have fallen even further than usual and stockpiles have reached a near-record of about 600,000 tonnes, according to the Viet Nam Steel Association. The association blamed rising prices and the Government’s austerity measures taken to curb the inflation for the slowdown in construction [...]

Resort villas bask in sunshine amid gloom of property market Posted: 22 Aug 2011 09:18 PM PDT Though the property market remains depressed, one segment is doing relatively well: resort villas. Dozens of resort-villa developments are taking place in locations like Da Nang, Ba Ria – Vung Tau, Nha Trang, Quang Ninh, Hai Phong, Phu Quoc, Con Dao, and Phan Thiet. Some major projects include Blue Sapphire in Vung Tau, the Nam [...]

Southern tourism triangle offers new investment opportunities Posted: 22 Aug 2011 09:17 PM PDT The southern tourism triangle, comprising HCM City and the provinces of Lam Dong and Binh Thuan, has created more investment opportunities as the three areas continue to work together to promote tourism. Ngo Minh Chinh, director of Binh Thuan Province’s Department of Culture, Sports and Tourism, said the tourism triangle had led to new agreements [...]

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