Vietnam Business News

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• India enhances import tariff value of gold to $573, silver to 1145
• Vietnam high logistics costs lower businesses’ competitiveness
• Tycoons getting more famous because of unpaid tax
• PM seeks private backing for transport infrastructure
• City targets another 500,000 tourists
• Over 1.3m international visitors visit Vietnam in Jan-Feb
• Foreign tourist visits increase in Feb
• 27 commercial banks assigned credit growth limit for 2012
• Banks’ managers hopes interest rate to ease soon
• SBV should directly pump capital for real estate market: Tran Hoang Ngan

India enhances import tariff value of gold to $573, silver to 1145 Posted: 01 Mar 2012 11:49 PM PST India Government has enhanced the import tariff value of gold from $526 per 10 grams to $573 per 10 grams while the value was enhanced from $953 per kg to $1145 per kg for silver imports. This was announced in notification by Central Board of Excise and Customs (CBEC) under Ministry of Finance issued on [...]

Vietnam high logistics costs lower businesses’ competitiveness Posted: 01 Mar 2012 10:02 PM PST In Vietnam, the logistics costs make up 25 percent of GDP, while transport costs account for 50-60 percent of the logistics costs, an overly high if compared with the average rate in the world. According to the International Monetary Fund (IMF), the logistics costs make up 12 percent of the total gross domestic products GDP [...]

Tycoons getting more famous because of unpaid tax Posted: 01 Mar 2012 10:01 PM PST A lot of the big names in the fields of real estate and automobile have been mentioned in the General Department of Taxation's report, as the state's debtors because they have not paid tax. The debtors – who are they? The list of the debtors includes many conglomerates including Hoang Anh Gia Lai, the Hanoi [...]

PM seeks private backing for transport infrastructure Posted: 01 Mar 2012 09:59 PM PST Another 480 trillion dong ($23.4 billion) will be needed to develop the nation’s transportation infrastructure between now and 2015, prime minister Nguyen Tan Dung told a recent meeting of the Ministry of Transport in the capital city. Dung urged the transport sector to step up efforts to mobilise investment from private resources for infrastructure development. [...]

City targets another 500,000 tourists Posted: 01 Mar 2012 09:57 PM PST HCM City has set a target to welcome nearly 4 million international visitors this year, up from 3.5 million last year, with a year-on-year growth of 8 per cent, according to a plan unveiled recently by the city’s Department of Culture, Sports and Tourism. Under the plan to develop the city’s tourism in the 2011 [...]

Over 1.3m international visitors visit Vietnam in Jan-Feb Posted: 01 Mar 2012 09:57 PM PST Vietnam National Administration of Tourism has recently revealed that 681,850 international visitors visited Vietnam in February 2012, up 8.2 percent from the previous month and nearly 30 percent over the same period last year. In particular, arrivals by air route accounted for 87 percent with 592,430 arrivals, up 31 percent on year, arrivals by sea [...]

Foreign tourist visits increase in Feb Posted: 01 Mar 2012 09:56 PM PST Over 680,000 international tourists visited Vietnam in February, up 8.2 per cent over January and 29.4 per cent over the same month last year, according to the Vietnam National Administration of Tourism (VNAT). Air travellers accounted for 87 per cent of the total figure, an increase of 31 per cent. The number of tourists arriving [...]

27 commercial banks assigned credit growth limit for 2012 Posted: 01 Mar 2012 09:55 PM PST As of March 1, 2012, as many as 27 of 38 commercial banks have announced their credit growth limit assigned by the State Bank of Vietnam (SBV). All banks that have announced their credit growth lines are in Group 1 and Group 2 except Habubank in Group 3. Currently, the remaining banks that have not [...]

Banks’ managers hopes interest rate to ease soon Posted: 01 Mar 2012 09:55 PM PST Although lending rates have dropped to 16pct per year, hardly any businesses have taken new loans due to likely unprofitability, said Vietinbank’s Chair. Interest rate cuts that have been desperately expected by the whole economy including the banking industry and now been found at commercial joint stock banks. Two weeks ago, four state-owned banks including [...]

SBV should directly pump capital for real estate market: Tran Hoang Ngan Posted: 01 Mar 2012 09:54 PM PST Statistics from the State Bank of Vietnam (SBV) showed that till the end of 2011, the proportion of non-production loans of the entire banking system was at 11.3 percent, even exceeding 16 percent in some cases but the central bank came out with timely control measures. Property loans decreased from 10 percent to 9 percent [...]

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