Vietnam Business News

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• Vietnam firms must prove their financial capacity to borrow loans: source
• Sacombank resumes mobilizing gold
• May 8: Vietnam central bank keeps dollar exchange at vnd20,828
• Dong Nai’ s izs lure $771mln fdi in 4m/2012, up 600% yoy
• Pork, chicken prices in reverse adjustment
• Retail space supply seen ample in near term
• Jetstar Pacific to resume summer service to Nha Trang
• Vietnam’s real estate market to witness big assignment deals
• Japan’s Suzuki recalls over 100,000 Swifts
• Investors sniff at shorter settlements

Vietnam firms must prove their financial capacity to borrow loans: source Posted: 07 May 2012 10:06 PM PDT Businesses seeking to borrow bank loans must demonstrate their financial capacity, Nguyen Hoang Minh, deputy director of the municipal central bank in HCMC, said in an interview with the state-run online newspaper Phap Luat TPHCM. Specifically, local enterprises must have efficient business plan, pledge collaterals, submit transparent financial reports and prove their ability to repay [...]

Sacombank resumes mobilizing gold Posted: 07 May 2012 10:05 PM PDT Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank or STB) has recently announced to resume its short-term gold mobilization activity with interest rates of up to 3.5% per annum, the local newswire VnEconomy.vn reported. The lender restarted mobilizing gold after the State Bank of Vietnam (SBV) issued Circular No. 12/2012/TT-NHNN, allowing credit institutions to continue [...]

May 8: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 07 May 2012 10:04 PM PDT Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Tuesday, unchanged for more than 4 months, the longest string since it has been applied but also the highest one. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling [...]

Dong Nai’ s izs lure $771mln fdi in 4m/2012, up 600% yoy Posted: 07 May 2012 10:03 PM PDT Dong Nai province's 30 industrial zones (IZs) have attracted a total of $771 million in foreign direct investment (FDI) in the first four months of this year, meeting 86% the whole year plan and rising 600% from the same period last year. In details, the southern province's IZs have lured a total of $533.8 million [...]

Pork, chicken prices in reverse adjustment Posted: 07 May 2012 10:01 PM PDT From Monday all kinds of pork enlisted in the price stabilization program in HCMC will be cut by VND1,000-3,000 a kilo, while garden chicken prices in the same program will be increased by VND4,000 per kilo. The price adjustments were the result of a meeting between representatives of related companies and the city's Department of [...]

Retail space supply seen ample in near term Posted: 07 May 2012 09:58 PM PDT Realty consulting firms forecast HCMC will see ample retail area supply in the next three years due to the presence of numerous new projects or near-completion ones in the city. Despite the gloomy outlook of the property sector, developers are still completing their ongoing projects or starting up new ones that have been idle for [...]

Jetstar Pacific to resume summer service to Nha Trang Posted: 07 May 2012 09:57 PM PDT Jetstar Pacific will fly back from Hanoi to Nha Trang and Danang as part of its plan to expand services in summer to capitalize on rising demand for air travel among vacationers to these destinations in central Vietnam. Jetstar Pacific said it would perform daily service on the Hanoi-Nha Trang and Hanoi-Danang routes from June [...]

Vietnam’s real estate market to witness big assignment deals Posted: 07 May 2012 09:56 PM PDT Big assignment deals in the real estate market are expected to be made in some more days, when the market conditions are good enough for purchases and sales. Soho Vietnam, a real estate consultancy firm is conducting negotiations with its partners to promote some assignment deals. Soho Vietnam's President Phan Xuan Can said he has [...]

Japan’s Suzuki recalls over 100,000 Swifts Posted: 07 May 2012 09:55 PM PDT Japan’s Suzuki Motor said Monday it will recall about 109,000 Swift subcompact cars worldwide, half of them in Japan, to repair a defect that may cause petrol leakage. The cars were produced between September 2010 and last month with 55,146 of them shipped to the domestic market and 53,801 others exported outside the country, including [...]

Investors sniff at shorter settlements Posted: 07 May 2012 09:55 PM PDT While domestic stock brokerages wait on a shorter settlement period for securities transactions, some foreign investors are actually arguing against the change. A representative of Deutsche Bank told the publication Dau tu Chung khoan (Securities investment) that clients were already struggling to pay up on the T+3 date, even before the T+2 date. The Vietnamese [...]

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