Wednesday, May 23, 2012

Vietnam Business News

Vietnam Business News

Stock markets on the go

Posted: 22 May 2012 07:56 AM PDT

Since the start of 2012, stock markets have outperformed investment channels such as gold, forex and realty trading, as well as bank deposits The VN-Index and HNX-Index have increased by 35.49% and 38.36% from those recorded at the start of this year and boasted the most impressive performance in the world. Meanwhile, bank deposits and [...]


HCMC banks to loosen lending conditions to businesses

Posted: 22 May 2012 07:55 AM PDT

Businesses that cannot pay due and overdue debts may be granted new bank loans to settle such debts. Businesses that cannot pay due and overdue debts may be granted new bank loans to settle such debts; an alternative to extend loan terms, Nguyen Hoang Minh, deputy director of the municipal central bank said in an [...]


May 22: Vietnam stocks resume losing string, gas hits ceiling

Posted: 22 May 2012 07:53 AM PDT

Vietnamese stocks ended the day just in the red as selling pressure continued to send the VN Index back to the negative ground while newly listed GAS, which was second heaviest weighed on the bourse, limited up. The benchmark VN Index lost 0.08 points or 0.01% to 447.94. Volume improved to 84.4 million shares worth [...]


MOF to issue circular guiding VAT payment extension this week

Posted: 22 May 2012 07:51 AM PDT

The Ministry of Finance (MoF) will issue detailed circular guiding implementation of Value Added Tax (VAT) payment extension by 6 months for businesses in Q2/2012 within this week. The information was provided by Nguyen Van Phung, Deputy Director General of Tax Policy Department under MoF in an interview with the local newspaper Dau Tu (Investment) on [...]


Mushroom exports to top us$200 mil by 2015

Posted: 22 May 2012 07:49 AM PDT

Viet Nam has set a target to expand mushroom cultivation and to earn US$150-200 million from exports by 2015, according to the Cultivation Department under the Ministry of Agriculture and Rural Development. Mushroom exports were worth $90 million last year, said Pham Van Du, the department’s deputy director, speaking at a conference on mushroom production [...]


Gloomy future for spearhead industry

Posted: 22 May 2012 07:46 AM PDT

Auto traders said the industry could not prosper when taxes and fees stay high, whereas Vietnam has determined the automotive industry as one of the spearhead industries to develop until 2020. Given the high inventories of local automakers, Laurent Charpentier, chairman of the Vietnam Auto Manufacturers Association (VAMA), raised his voice: "If the current unfavorable [...]


Manulife Vietnam reports strong growth in Q1

Posted: 22 May 2012 07:45 AM PDT

Manulife Vietnam has just reported it had achieved a strong growth in insurance sales in the first quarter of 2012, with a year-on-year increase of 34% in annualized premium equivalent (APE). In addition to the business growth, the insurance service provider saw its agency force expand 31% over the same period last year. Chung Ba [...]


Argentina boosts farm product exports to Vietnam

Posted: 22 May 2012 07:44 AM PDT

Vietnam is one of the non-traditional markets in Argentina's farm products export expansion plan. Argentina's farm product exports to Vietnam rose sharply in the first months of 2012. The South American country exported 191,000 tonnes of animal and plant products to Vietnam worth 70.37 million USD in the first quarter of the year, year-on-year rises [...]


French businesses to join Banking Vietnam 2012

Posted: 22 May 2012 07:43 AM PDT

Five leading French businesses, including Cassiopae, KMB Partners, M2M, Mootwin and SAB, will take part in the upcoming Banking Vietnam 2012 Conference & Exhibition. Featuring the theme "Technology transformation towards effective banking governance & high quality services for banking sector", the conference and expo will take place in Hanoi from May 22-24 French firms' participation [...]


Sacombank to dig itself out of hole

Posted: 22 May 2012 07:41 AM PDT

Sacombank has unveiled an ambitious plan to issue $200 million worth of dollar bonds overseas this year amid fierce headwinds. Sacombank, one of Vietnam's largest private banks by assets and operational networks, last week said it would issue $200 million worth of unsecured and unconvertible international bonds with a five-year tenor. The bond issuance, expected [...]


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