Vietnam Business News

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• State treasury sells vnd100bln government bonds on oct 27
• Vietnam central bank net injects vnd2.626trl via omo in nov 14-17
• Average 12-month interbank interest rate plunges to 2-month low on nov 15
• Saigonbank to offer 50mln private placement shares to an investor
• Money laundering takes place under various forms in Vietnam
• Nov 18: Vietnam central bank keeps dollar exchange at vnd20,803 for 3 weeks
• Long An runs $305mln trade surplus in jan-nov
• “Vinashin debts must be settled by market mechanism”
• Vietnam expects ODA disbursement at $3.65bln in 2011
• Auto sector runs into brick wall

State treasury sells vnd100bln government bonds on oct 27 Posted: 18 Nov 2011 01:08 AM PST The State Treasury on Nov 17 sold VND100 billion worth of government bonds, or 5% of offered value, at the yield of 12.1-12.5% p.a. in an auction of 3-year and 5-year bonds, said the Hanoi Stock Exchange (HNX). The bid-to-cover ratio was 0.45, including two bidders registered for VND200 billion 3-year bonds, seeking for yields [...]

Vietnam central bank net injects vnd2.626trl via omo in nov 14-17 Posted: 18 Nov 2011 01:07 AM PST The State Bank of Vietnam (SBV) net injected VND2.626 trillion into commercial banks through the open market operations from Nov 14 to Nov 17 to support liquidity in the banking system, the local newswire NDHMoney reported, citing Reuters' data. During the first four days of this week, the central bank pumped VND25.972 trillion and withdrew [...]

Average 12-month interbank interest rate plunges to 2-month low on nov 15 Posted: 18 Nov 2011 01:07 AM PST The average interbank interest rate for 12-month terms on Nov 15 eased to 12.75%, down 7.65% from Nov 11, the lowest level since Sept 20, 2011, the State Bank of Vietnam (SBV)'s data showed. Previously, the average interbank interest rate for 12-month term skyrocketed to 36.58% p.a., hitting all-time high on Nov 7. The interest [...]

Saigonbank to offer 50mln private placement shares to an investor Posted: 18 Nov 2011 01:07 AM PST Saigon Bank For Industry And Trade (SaiGonBank) has submitted full filings to the State Securities Commission, seeking approval to offer 50 million new shares to an investor through private placement. The new share issuance aims to raise the lender's chartered capital to VND3.5 trillion after the unlisted bank got approval from the central bank to [...]

Money laundering takes place under various forms in Vietnam Posted: 18 Nov 2011 01:06 AM PST In a cash economy like Vietnam, there are various ways to obscure the origins of the so-called "dirty" money. In a cash economy like Vietnam, there are various ways to obscure the origins of the so-called "dirty" money, the local newspaper Tien Phong Online quoted some Congressmen, as saying at the discussion session of the [...]

Nov 18: Vietnam central bank keeps dollar exchange at vnd20,803 for 3 weeks Posted: 18 Nov 2011 01:05 AM 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. [...]

Long An runs $305mln trade surplus in jan-nov Posted: 18 Nov 2011 01:04 AM PST Long An province ran a trade surplus of $305 million in the first 11 months of the year, doubled that of the same time in 2010, the province's Department of Industry and Trade said. In November alone, Long An earned $177.5 million worth from exports and spent $164 million for importing goods and services, making [...]

“Vinashin debts must be settled by market mechanism” Posted: 18 Nov 2011 01:04 AM PST Phung Quoc Hien, chairman of National Assembly Finance & Budget Committee, said that "Vinashin's debts must be solved under market mechanism". Hien saying came after the news that Vinashin and its subsidiaries were brought to court in London related to $600 million loans. Hien said "restructuring corporations are under discussion, especially Vinashin's, restructuring Vinashin will [...]

Vietnam expects ODA disbursement at $3.65bln in 2011 Posted: 18 Nov 2011 01:03 AM PST Vietnam expected to disburse $3.65 billion official development assistance (ODA) in 2011, increasing 3.1% from 2010 ( $3.541 billion), the Foreign Economic Relations Department under the Ministry of planning and investment said. There are 51 existing bilateral and multilateral ODA donors for Vietnam. Sponsors have signed ODA commitments worth $8.342 billion for Vietnam in 2011, [...]

Auto sector runs into brick wall Posted: 18 Nov 2011 01:02 AM PST To sustain tough market conditions when car import tariffs keep falling under Vietnam's commitments to the world community, car manufacturers must drive down production costs through hiking localisation rates which cannot be achieved without government support. Vietnam Automobile Manufacturers Association (VAMA) chairman Akito Tachibana gives VIR the inside running on the story. Competition in the auto [...]

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