Vietnam Business News

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• Vietnam to get tough on wasteful use of land by state-owned firms
• Property market needs unfavorable policies removed
• Vietnam banks hide bad debts: HSBC expert
• Vietnam remains indecisive in choosing sets of indicators to assess FDI
• 224tr dong set for modernising ministry of transport
• Vietnam April industrial production +7.5 pct year-on-year- govt
• DaiABank has no plan of merger
• Banknetvn provides services for 76pct of cards in Vietnam
• LienVietPostBank has no plans to sell shares to foreign partners: Huong
• Military Bank to increase charter capital by 30% to 13tr dong in Q3 2012

Vietnam to get tough on wasteful use of land by state-owned firms Posted: 25 Apr 2012 11:34 PM PDT The government will take tough action to prevent the wasteful use of public land in Vietnam by state-owned companies, an official said Friday. "If you look around, all the best spots belong to government agencies and state enterprises," said Pham Dinh Cuong, head of the State Property Management Bureau under the Ministry of Finance. The [...]

Property market needs unfavorable policies removed Posted: 25 Apr 2012 11:33 PM PDT Credit supply at affordable lending rates is considered a necessary measure to stimulate the property market, but beyond capital supply, the market also needs a liberal environment with improper regulations removed, experts said. While housing products being developed can easily change hands, trade of completed apartments is being restricted by current regulations. Property developers have [...]

Vietnam banks hide bad debts: HSBC expert Posted: 25 Apr 2012 11:29 PM PDT Some local commercial banks did not publicize the figures of their real bad debts, said Pham Hong Hai, Head of Global Markets, HSBC Bank (Vietnam) Ltd., calling for transparency in quantifying bad debts and consistency in loan classification practices, the local newswire Dau Tu Chung Khoan (Securities Investment) reported. Bad debts currently represent 3.6% of [...]

Vietnam remains indecisive in choosing sets of indicators to assess FDI Posted: 25 Apr 2012 11:23 PM PDT State management agencies and experts still have not agreed on the methods of assessing the efficiency of foreign direct investment (FDI). If Vietnam does not have a reasonable set of indications to be used to assess the FDI impacts on the national economy, the country would not know what it needs and what it expects [...]

224tr dong set for modernising ministry of transport Posted: 25 Apr 2012 11:22 PM PDT Vietnamese Minister of Transport Dinh La Thang has given nod for the scheme of industrialisation and modernisation in the ministry of transport. It may cost 223.79 trillion dong for realising the scheme within the period from now up to 2020. It’s essential to clarify that the scheme would be applied for the member companies and [...]

Vietnam April industrial production +7.5 pct year-on-year- govt Posted: 25 Apr 2012 11:21 PM PDT Vietnam’s index of industrial production (IIP) rose an estimated 7.5 percent in April from the same month last year, quickening from an annual rise of 6.5 percent last month, the General Statistics Office said on Wednesday. The index for the January-April period rose 4.3 percent from the same period last year, the office said in [...]

DaiABank has no plan of merger Posted: 25 Apr 2012 10:31 PM PDT In the first quarter of 2012, Dai A (Great Asia) Commercial Joint Stock Bank (DaiABank) reached a deposit growth of 12 percent, credit growth at 2 percent, pre tax profit at 105 billion dong, rising 17 billion dong against Q1/2011. The lender’s CEO said that in comparison with the plan of 610 billion dong, the [...]

Banknetvn provides services for 76pct of cards in Vietnam Posted: 25 Apr 2012 10:31 PM PDT Vietnam Card Association has recently said that Banknetvn switching system is currently serving 29.2 million cards, accounting for 76 percent of the total cards issued in the market, according to the local newspaper Dau Tu Chung Khoan (Securities Investment). Particularly, the association added the Banknetvn switching system now has 23 member banks with 9,349 automatic [...]

LienVietPostBank has no plans to sell shares to foreign partners: Huong Posted: 25 Apr 2012 10:30 PM PDT At the annual general meeting (AGM) 2012 of Lien Viet Post Commercial Joint Stock Bank (LienVietPostBank) on April 23, Nguyen Duc Huong, the bank’s vice chair, said that in the short term, the bank has no plan to sell shares to foreign strategic partners. According to Huong, currently, two foreign partners are eying to buy [...]

Military Bank to increase charter capital by 30% to 13tr dong in Q3 2012 Posted: 25 Apr 2012 10:26 PM PDT Military Commercial Joint Stock Bank (MBB)'s general shareholder meeting (AGM) on April 26 has approved to increase its charter capital by 30% to 13 trillion dong in the third quarter of this year from current 10 trillion dong. The HOSE listed lender will raise the money through issuing new shares in two tranches, both in [...]

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