Vietnam Business News

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• Will stocks, gold remain attractive to investors?
• Vietnam insurers to be classified into 4 groups
• Feb 2: foreigners continues net buying on both HOSE and HNX
• Interbank trading dong -12%, dollar +8% in week ending jan 13, 2012
• Credit institutions in HCMC face soaring bad debts
• Vietinbank gets SBV’s approval to increase capital for branch in Laos
• Vietnam Dong likely weaken by 3% at year end: bvsc
• Vietnam central bank sets reference rate for bank deposits at vbsp at 12.94% p.a.
• Property developers start year with a bang
• Vietnam set to be largest seafood exporter in the world

Will stocks, gold remain attractive to investors? Posted: 02 Feb 2012 08:28 AM PST As the stock and gold markets started the Lunar New Year with several upheavals, Tuoi Tre spoke with two experts on whether these two channels are still appealing enough to attract investors this year. Dinh Nho Bang, general secretary and deputy chairman of the Vietnam Gold Trading Association, told Tuoi Tre that the gold market [...]

Vietnam insurers to be classified into 4 groups Posted: 02 Feb 2012 08:25 AM PST Vietnam Ministry of Finance (MOF) is presently developing criteria to evaluate and classify insurance companies into four groups, and will apply separate measures to manage and supervise each group, the Saigon Times reported. Group 1 includes good liquidity and profitable insurance companies. These companies will continue business and expand their operation only with efficient business [...]

Feb 2: foreigners continues net buying on both HOSE and HNX Posted: 02 Feb 2012 03:30 AM PST Foreigners extended their position of net buyers on both HOSE and HNX on Thursday. Level of participation eased. These players net bought VND25.97 billion on the HOSE after buying 3,231,300 shares for VND94.60 billion and selling 3,080,820 units for VND68.63 billion, accounting for 13.22% buying value and 9.59% selling value. Of note, buying volume dropped [...]

Interbank trading dong -12%, dollar +8% in week ending jan 13, 2012 Posted: 02 Feb 2012 03:29 AM PST The total interbank trading value of the dong slipped 12% to VND178.102 trillion from VND203.09 trillion in the week ending Jan 13, 2012 while that of the dollar climbed 8% to VND105.019 trillion from VND97.11 trillion. The total interbank trading value of the dong slipped 12% to VND178.102 trillion from VND203.09 trillion in the week [...]

Credit institutions in HCMC face soaring bad debts Posted: 02 Feb 2012 03:28 AM PST In 2011, bad debts at commercial banks in Ho Chi Minh City escalated from the previous year's figure and several banks even reported NPL ratios of above 5%., the municipal State Bank of Vietnam (SBV) said on its 2011 banking report. Of note, Vietnam Bank for Agriculture and Rural Development (Agribank) led the group of [...]

Vietinbank gets SBV’s approval to increase capital for branch in Laos Posted: 02 Feb 2012 03:28 AM PST VietinBank is approved to raise capital for its branch in Laos from $12.5 million to $22 million. Governor of the State Bank of Vietnam (SBV) on February 1, 2012 issued Document No. 412/NHNN-TTGSNH, approving Vietnam JS Commercial Bank for Industry and Trade (VietinBank or CTG)'s plan to increase capital for its branch in the Lao [...]

Vietnam Dong likely weaken by 3% at year end: bvsc Posted: 02 Feb 2012 03:27 AM PST Bao Viet Securities Company (BVSC) forecasted that the dong devaluation pressure may persist in 2012 and that the domestic currency is likely to depreciate by 3% at year end. Bao Viet Securities Company (BVSC) forecasted that the dong devaluation pressure may persist in 2012 and that the domestic currency is likely to depreciate by 3% [...]

Vietnam central bank sets reference rate for bank deposits at vbsp at 12.94% p.a. Posted: 02 Feb 2012 03:27 AM PST The State Bank of Vietnam (SBV) on January 31 issued Dispatch No. 428/NHNN-CSTT to announce the reference interest rate of 12.94% per annum for deposits of credit institutions at Vietnam Bank for Social Policies (VBSP). Specifically, the average deposit interest rate in the dong of credit institutions as of December 31, 2011, which serves as [...]

Property developers start year with a bang Posted: 02 Feb 2012 03:26 AM PST Scores of property developers are eagerly embracing new projects amid a gloomy market outlook. During the first day of the Lunar New Year, Vietnam's leading state-owned building material manufacturer Viglacera Corporation began construction of its Dang Xa II new urban area over 39 hectares in Hanoi's Gia Lam district with around VND2.49 trillion ($118.5 million) [...]

Vietnam set to be largest seafood exporter in the world Posted: 02 Feb 2012 03:24 AM PST Although exports of aqua-products faced many difficulties in 2011, export revenues touched US $6.1 billion, ranking Vietnam at fourth place in aqua-exports. In 2012, the country's turnover of aqua-exports is expected to reach $6.5 billion, a target set by the Ministry of Agriculture and Rural Development and Vietnam Association of Seafood Exporters and Producers. Early [...]

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