Vietnam Business News

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• Vietnam central bank announces credit growth limits for banks
• Vietnam banks must keep lending to non-prioritized sectors at maximum 16% of total loans: sbv
• Vietnam central bank to govern the exchange rates in line with inflation
• Vietnam Treasury to auction VND7Tln government bonds on Feb 16
• Ho Chi Minh unemployment applications rise by138% YoY In Jan 2012
• Gas traders blame domestic price hikes on the global market
• Vietnam to focus on quality, effective FDI projects
• Feb 14: Vietnam central bank keeps dollar exchange at vnd20,828
• The government office proposes MOF to cut gas import tax to 2%
• Vietnam seafood exports rise to $470mln in jan 2012, up 8.2% yoy

Vietnam central bank announces credit growth limits for banks Posted: 13 Feb 2012 11:45 PM PST The State Bank of Vietnam (SBV) on February 13 issued Directive No. 01/CT-NHNN, in which it announced credit growth limits for four different groups of credit institutions. Specifically, the central bank set maximum credit growth rate at 15% for Group A (healthy banks), 15% for Group B (moderately healthy banks), 8% for Group C (unhealthy [...]

Vietnam banks must keep lending to non-prioritized sectors at maximum 16% of total loans: sbv Posted: 13 Feb 2012 11:34 PM PST The State Bank of Vietnam (SBV) on February 13 issued Directive No. 01, in which it requested credit institutions to control their proportion of lending to non-prioritized sectors to total loans at maximum 16% this year. Outstanding loans to non-prioritized sectors include: (a) Outstanding loans for securities trading and investments, excluding loans for employees of [...]

Vietnam central bank to govern the exchange rates in line with inflation Posted: 13 Feb 2012 11:33 PM PST The State Bank of Vietnam (SBV) on February 13 issued Directive No. 01, in which it voiced to govern the exchange rates flexibly in line with inflation. In addition, the exchange rates will be adjusted in accordance with demand for and supply of foreign currency, interest rates, and balance of international payment, seeking to increase [...]

Vietnam Treasury to auction VND7Tln government bonds on Feb 16 Posted: 13 Feb 2012 11:33 PM PST The State Treasury of Vietnam will open a price-competitive auction for VND7 trillion worth of 2-year (VND2 trillion), 3-year (VND2 trillion), 5-year (VND2 trillion) and 10-year (VND1 trillion) government bonds. The State Treasury of Vietnam will open a price-competitive auction for VND7 trillion worth of 2-year (VND2 trillion), 3-year (VND2 trillion), 5-year (VND2 trillion) and [...]

Ho Chi Minh unemployment applications rise by138% YoY In Jan 2012 Posted: 13 Feb 2012 11:32 PM PST Number of people applying for unemployment benefits rose 138% to 9,000 in the first month of this year, including 1,900 applications received after the Lunar New Year holiday, the local news provider Gafin reported. Main reason of the high unemployment application is the businesses' difficulties, they were forced to narrow the production and apply a [...]

Gas traders blame domestic price hikes on the global market Posted: 13 Feb 2012 11:31 PM PST Gas prices in Vietnam have risen for six times since December 2011, with traders claiming that the increases are necessary. After gas prices were raised twice in December 2011 consumers were shocked as they watched the increases continue into the first two months of the year, adding a total of VND70,000 per 12-kilo canister. Despite [...]

Vietnam to focus on quality, effective FDI projects Posted: 13 Feb 2012 11:31 PM PST Even though Vietnam has opened its trade policy and improved on its investment environment, particularly in attracting more Foreign Direct Investment, some believe that the country has still to do much towards attracting more FDI inflow. Even though Vietnam has opened its trade policy and improved on its investment environment, particularly in attracting more Foreign [...]

Feb 14: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 13 Feb 2012 11:30 PM PST Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Tuesday, unchanged since Dec 26, 2011. 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 VND21,036. Most of commercial banks continued lowering the [...]

The government office proposes MOF to cut gas import tax to 2% Posted: 13 Feb 2012 11:30 PM PST The office of the government has just sent its official document requesting the Ministry of Finance (MoF) to consider cutting the gas import tax to 2% from current 5% as per the Vietnam Gas Association (VGA) proposal. The domestic gas prices have soared in the first months of 2012 mainly due to the high global [...]

Vietnam seafood exports rise to $470mln in jan 2012, up 8.2% yoy Posted: 13 Feb 2012 11:29 PM PST Vietnam is estimated to have earned $470 million from seafood exports in the first month of this year, increasing 8.2% from Jan 2011, the Vietnam Association of Seafood Exporters and Producers (VASEP) said. The export value in the first half of January 2012 was positive with $237.8 million, making an average year on year rise [...]

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