Vietnam Business News

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• Spot gold edged down 0.2 percent to $1,776.44 an ounce
• Vietnam central bank excludes 2 types of real estate loans from non-production credits
• Vietnam central bank to uncover 20 additional financial & banking data
• Vietnam needs $1 bln per year for power transmission projects
• Nov 15: Vietnam central bank keeps dollar exchange at vnd20,803 for 16 days
• Nov 15: Vietnam increases to vnd46.5mln/tael, dollar stable
• Industrial exports expected to stall
• Thua Thien-Hue draws 43 tourism projects
• Halong Bay named new world wonder of nature
• Golden opportunities coming, Vietnamese businesses … staying put

Spot gold edged down 0.2 percent to $1,776.44 an ounce Posted: 14 Nov 2011 09:54 PM PST Spot gold prices inched down on Tuesday, as investors unnerved by an Italian bond auction focused on the scope of the task faced by new governments in Italy and Greece in keeping the region’s sovereign debt crisis under control. Though gold is supported by its safe-haven allure, it is prone to spillover from the heavy sell-off in [...]

Vietnam central bank excludes 2 types of real estate loans from non-production credits Posted: 14 Nov 2011 09:51 PM PST The State Bank of Vietnam specified 2 types of real estate loans to be excluded in the calculation on the proportion of non-production credits to total loans, the central bank said on its website on Nov 14. Specifically, credit institutions are requested to continue taking measures to control lending activities in non-productive sectors and exclude [...]

Vietnam central bank to uncover 20 additional financial & banking data Posted: 14 Nov 2011 09:50 PM PST The State Bank of Vietnam on Nov 11 issued Circular No.35/2011/TT-NHNN, effective from April 1, 2012, adding 20 types of financial and banking information to be publicized with specified schedules. Notably, the central bank will uncover 5 out of 12 core Financial Soundness Indicators (FSIs) under the IMF's standards, including: 1) Capital adequacy ratio (CAR); [...]

Vietnam needs $1 bln per year for power transmission projects Posted: 14 Nov 2011 09:47 PM PST Vietnam will spend around US$1 billion each year to develop power transmission facilities and is dependent on foreign financing sources, a state-owned company said. According to the National Power Transmission Corp., Vietnam will develop between 300 and 350 transmission projects from 2011 to 2015. Vu Tran Nguyen, deputy general director of the corporation, said his [...]

Nov 15: Vietnam central bank keeps dollar exchange at vnd20,803 for 16 days Posted: 14 Nov 2011 09:46 PM PST Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,803 on Friday, unchanged from October 28, after adjusting it for 14 times in October. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,011. [...]

Nov 15: Vietnam increases to vnd46.5mln/tael, dollar stable Posted: 14 Nov 2011 09:46 PM PST Vietnam gold increased VND0.25 million from yesterday close to VND 46.25million/tael this morning. The world gold fell yesterday night and stayed flat this morning. Local dollar prices were still kept at VND20,803, unchanged for from Oct 28. SJC Hanoi quoted at VND46.300 million/tael for bid, and VND46.520 million/tael for bid and ask, respectively as of [...]

Industrial exports expected to stall Posted: 14 Nov 2011 09:36 PM PST The Ministry of Industry and Trade (MoIT) has warned of upcoming challenges in finding industrial export contracts due to financial difficulties in key export markets such as the EU and US. According to a ministerial report released this week, key industrial sectors managed positive results during the first three quarters of the year. However, textile [...]

Thua Thien-Hue draws 43 tourism projects Posted: 14 Nov 2011 09:36 PM PST The central province of Thua Thien – Hue has so far attracted 43 projects in tourism with total investment of more than VND50 trillion. The local authorities said that these projects helped upgrade tourism infrastructure and improve tourism services and products, contributing to developing tourism potential in the former imperial city of Hue , which [...]

Halong Bay named new world wonder of nature Posted: 14 Nov 2011 09:35 PM PST Halong Bay in Vietnam's northern Quang Ninh has been named among the world's new seven wonders of nature, according to the global poll's provisional results announced this morning by New Open World Corporation, an associate of the New 7 Wonders Foundation. At 2:07 am Vietnamese time today, November 12, the global poll organizers announced the [...]

Golden opportunities coming, Vietnamese businesses … staying put Posted: 14 Nov 2011 09:35 PM PST Vietnamese enterprises can see a new investment shift wave, when foreign investors relocate their production bases from other countries to Vietnam. However, Vietnamese businesses seem to be unable to grab the opportunities. The tsunami and earthquake in Japan, the floods in Thailand, and then the yuan appreciation, the new land policy and the minimum wage [...]

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