Vietnam Business News

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• Vietnam plans stock market expansion to half GDP
• PVFC reclaims 1.025tr dong debs from Vinashin
• Vietnam ACB earns 725b dong profit in Q1 2012
• Navibank cautious on profit target
• SaigonBank to hike chartered capital to 3.5tr dong
• Bidv moots raising chartered capital of Laos-Vietnam Bank
• VPBank targets pretax profit of 1.3tr dong in 2012
• HCM City: Jan-Apr international tourist arrivals grow 9pct y-o-y
• Not a good sign for Vietnam if inflation is too low, official says
• Long An suspends 20 slow-moving projects

Vietnam plans stock market expansion to half GDP Posted: 27 Apr 2012 10:17 AM PDT The Vietnamese government has announced a national financial strategy that will develop the stock market so that its capitalization can rise to 50 percent of the national gross domestic product by 2015, the government said. According to the plan, the government will strengthen financial markets and services, with a focus on ensuring a safe and [...]

PVFC reclaims 1.025tr dong debs from Vinashin Posted: 27 Apr 2012 10:16 AM PDT At the press conference on April 26 to prepare for the coming annual general meeting (AGM) (scheduled on April 28) of PetroVietnam Finance Joint Stock Corp (PVFC-coded PVF), Nguyen Thien Bao, PVFC’s general director, said that so far PVFC has reclaimed 1.025 trillion dong (including 800 billion dong and 225 billion dong in two times) [...]

Vietnam ACB earns 725b dong profit in Q1 2012 Posted: 27 Apr 2012 10:15 AM PDT Asia Commercial Joint Stock Bank (ACB) has recently reported its business results for the first quarter of 2012 with net interest income at 1.651 trillion dong, rising 29 percent over the same period last year. Its net profit from services halved on year to reach 151 billion dong. The bank gained positive evolutions in forex [...]

Navibank cautious on profit target Posted: 27 Apr 2012 10:07 AM PDT Nam Viet Joint Stock Commercial Bank or Navibank has planned to submit the 2012 business target with total profit of 300 billion dong, only 60 billion dong higher than the previous year. The bank’s return on equity (ROE) is expected at over 9.7 percent. In the first two months of 2012, Navibank reported gaining pre-tax [...]

SaigonBank to hike chartered capital to 3.5tr dong Posted: 27 Apr 2012 10:06 AM PDT In the annual shareholders meeting held on April 25, 2012, the shareholders of Saigon Commercial Joint Stock Bank (SaigonBank) have approved the 2012 business plan. In details, the bank’s chartered capital would be raised to 3.5 trillion dong from the current 3 trillion dong. SaigonBank also expects to reach total pre-tax profit of 460 billion [...]

Bidv moots raising chartered capital of Laos-Vietnam Bank Posted: 27 Apr 2012 10:06 AM PDT Tran Bac Ha, chair of management board in Bank for Investment and Development of Vietnam (Bidv) has lately revealed that the bank has planned to hike chartered capital of Laos-Vietnam Joint Venture Bank (LVB) from $35 million to US$70 million in May 2012. At the same time, the bank will open new branch in Luong [...]

VPBank targets pretax profit of 1.3tr dong in 2012 Posted: 27 Apr 2012 10:05 AM PDT Vietnam Prosperity Commercial Joint Stock Bank (VPBank) held the annual general meeting (AGM) on April 24, 2012. In the meeting, the bank has approved the 2012 business plan with targeted total assets value of 110 trillion dong, pre-tax profit of 1.3 trillion dong, increasing by 33 percent against the previous year, return on equity (ROE) [...]

HCM City: Jan-Apr international tourist arrivals grow 9pct y-o-y Posted: 27 Apr 2012 10:03 AM PDT Foreign visitor arrivals in HCM City in April are forecast to reach 275,000, taking the total in the year to date to 1.25 million, a 9% year-on-year rise, said the HCM City Department of Culture, Sports and Tourism. Fewer tourists have come here in the city this month, the first month of the low season, [...]

Not a good sign for Vietnam if inflation is too low, official says Posted: 27 Apr 2012 10:01 AM PDT There are signs of an economic decline in Vietnam as monthly inflation fell to an unusually low level in April and the number of companies in trouble rose, a senior government official says. "It's not an overstatement to say that there is a decline," said Minister of Planning and Investment Bui Quang Vinh. "The consumer [...]

Long An suspends 20 slow-moving projects Posted: 27 Apr 2012 10:00 AM PDT The southern province of Long An has suspended the licences of 20 projects so far this year, revoking land-use rights totalling 1,500ha, Deputy Director of the provincial Department of Planning and Investment Ngo Ly Hoa has said. The province would continue to review projects and respond to difficulties faced by investors in an attempt to [...]

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