Vietnam Business News

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• Gold trading on offshore accounts can be allowed
• Government at loss over gold price disparity
• Vietnam may apply lending rate cap for more sectors
• Vietnam may narrow down subjects to borrow overseas capital
• Vietnam prime minister appoints one more deputy governor
• May 16: Vietnam stocks close mixed, late buying buoys HNX
• Vietnam ODA disbursement reaches $34Bln by end 2011: MoPI
• Vietnam SJC records sales $5.3Bln in 2011
• Vietnam’s shrimp export reaches $436mln in q1/2012
• Vietinbank says to conclude 20% stake sale q4/2012

Gold trading on offshore accounts can be allowed Posted: 16 May 2012 11:23 PM PDT Individuals and institutions can re-open their international gold accounts if they receive permission of the Prime Minister and are granted license by the SBV. The State Bank of Vietnam (SBV) has recently released the draft regulation to amend the ordinance on foreign exchange control, stipulating that individuals and institutions can open their international gold accounts [...]

Government at loss over gold price disparity Posted: 16 May 2012 10:40 PM PDT The gap between domestic and global gold prices remains large despite the Government’s efforts, according to independent market experts. Experts said in April that the State Bank of Viet Nam issued a decree to restrict trade in gold bullion to stabilise the gold market, check hoarding and speculation, narrow the gap between the domestic and [...]

Vietnam may apply lending rate cap for more sectors Posted: 16 May 2012 11:25 AM PDT The State Bank of Vietnam (SBV) may impose lending interest rate ceiling for more sectors as part of its monetary policy management orientation in the later months of 2012, the local online newspaper VnEconomy.vn reported, citing its private source. Specifically, the monetary authority will study to cap interest rate spreads for lending to production and [...]

Vietnam may narrow down subjects to borrow overseas capital Posted: 16 May 2012 11:23 AM PDT The State Bank of Vietnam (SBV) has recently released the draft regulation to amend the ordinance on foreign exchange control, narrowing the subjects that are permitted to borrow capital overseas. The draft regulation stipulates that only legally-established enterprises and credit institutions can borrow funds abroad. As such, individuals and economic institutions that are not enterprises [...]

Vietnam prime minister appoints one more deputy governor Posted: 16 May 2012 11:22 AM PDT Vietnam Prime Minister signed Decision No. 558/QĐ-TTg, appointing Dao Minh Tu, Chief Secretariat of the Governor's Office, as a new Deputy Governor of the State Bank of Vietnam (SBV) from May 15, 2012. The new appointment raised total number of deputy governors to six, including: Tran Minh Tuan, Dang Thanh Binh, Nguyen Dong Tien, Nguyen [...]

May 16: Vietnam stocks close mixed, late buying buoys HNX Posted: 16 May 2012 11:20 AM PDT Vietnamese stocks closed mixed today as both foreign and local investors continued to offloaded shares on the primary bourse but bottom fishing emerging in late trading buoyed the smaller one. The benchmark VN Index fell for a sixth day in a row, losing 5.74 points or 1.25% to 449.91. Volume declined to 86.5 million shares [...]

Vietnam ODA disbursement reaches $34Bln by end 2011: MoPI Posted: 16 May 2012 11:20 AM PDT Vietnam is estimated to have disbursed a total of $34 billion official development assistance (ODA) by end of 2011, Bui Quang Vinh , Minister of Planning and Investment (MoPI) said. The figure accounts for 44.15% of the pledged funds, Minister said, adding that Vietnam's ODA disbursement level is low due to weak management, sluggish site [...]

Vietnam SJC records sales $5.3Bln in 2011 Posted: 16 May 2012 11:18 AM PDT Saigon Jewelry Company Limited (SJC), Vietnam's biggest gold trader, said its sales reached over VND11 trillion or $5.28 billion last year, the local online newspaper Tri Thuc Tre (TTVN) reported. SJC, representing over 90% market shares of domestic gold bullion production, currently has 13 branches, 6 subsidiaries, 19 affiliates and 1 bonded warehouse. Its distribution [...]

Vietnam’s shrimp export reaches $436mln in q1/2012 Posted: 16 May 2012 11:17 AM PDT Vietnam was estimated to have earned a total of $436 million from shrimp export in the first quarter of this year, rising 9.3 % on year, the Vietnam General Department of Customs said. In March alone, Vietnam shipped $178 million worth of shrimps, rising 29% on month and 13.4% on year, the data showed. Vietnam's [...]

Vietinbank says to conclude 20% stake sale q4/2012 Posted: 16 May 2012 11:16 AM PDT VietinBank, Vietnam’s biggest commercial joint stock bank by total assets and chartered capital, will conclude a deal of selling 20% stake to a foreign strategic partner in Q4/2012, said its chairman at the2012 Analyst Day held in Hanoi today. Vietnam Joint Stock Commercial Bank for Industry and Trade  or Vietinbank (CTG) planned to complete talk over [...]

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