Vietnam Business News

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• Vietnam Eximbank reports May credit growth at 2.4%
• Vietnam Treasury to auction VND6Tln government bonds on June 13
• TEXT-S&P:Vinacomin Rtg unaffected by Sovereign Rtg action
• Agribank offers VND 10 trillion in low-interest loans
• SJC seeks nod for deformed gold bar reprocessing
• Outbound tourism remains largely uncontrolled
• Electric rates to float on July 1
• CPI in June forecast to rise 0.1-0.2pct
• Banks to disburse VND30 trillion to City enterprises
• Vietnam not to apply sharp petrol price cuts

Vietnam Eximbank reports May credit growth at 2.4% Posted: 06 Jun 2012 09:35 PM PDT The Vietnam Export-Import Joint-Stock Commercial Bank (Eximbank) reported that its total lending rose 2.4% in May/2012, compared to negative 4.8% in the first four months of the year, the local online newspaper TTVN.vn reported. Eximbank was recently reported to invest in a number of fields such as banking or airlines. It's normal and crucial for [...]

Vietnam Treasury to auction VND6Tln government bonds on June 13 Posted: 06 Jun 2012 09:34 PM PDT The State Treasury of Vietnam will organize an auction for VND6 trillion worth of government bonds, distributed equally for 2, 3 and 5-year tenors at the Hanoi Stock Exchange (HNX) on June 13. The debts will be issued on June 15 under the book entry form, the bourse said in a statement. Coupons are paid [...]

TEXT-S&P:Vinacomin Rtg unaffected by Sovereign Rtg action Posted: 06 Jun 2012 09:23 PM PDT Standard & Poor’s Ratings Services said today that its rating and outlook on Vietnam National Coal and Mineral Industries Holding Corp. Ltd. (Vinacomin; BB-/Negative/–) are not affected by the sovereign rating action on Vietnam. Standard & Poor’s Ratings Services said today that its rating and outlook on Vietnam National Coal and Mineral Industries Holding Corp. [...]

Agribank offers VND 10 trillion in low-interest loans Posted: 06 Jun 2012 09:20 PM PDT The Vietnam Bank for Agriculture and Rural Development (Agribank) will provide preferential loans worth VND 10 trillion (US$479.6 million) for exporters and importers at a 12% annual interest rate, beginning June 4. The loans, which must be repaid within six months, will be offered to customers who need funds to produce, purchase, process and export [...]

SJC seeks nod for deformed gold bar reprocessing Posted: 06 Jun 2012 09:19 PM PDT Saigon Jewelry Company (SJC) is seeking approval from the State Bank of Vietnam (SBV) to reprocess deformed gold bars for the benefits of local consumers, said an executive of the company. According to an SJC executive, with the new decree on gold trading control starting from May 25, all gold bar processing activities of SJC [...]

Outbound tourism remains largely uncontrolled Posted: 06 Jun 2012 09:16 PM PDT There are millions of Vietnamese tourists traveling abroad every year with expenditures amounting to billions of U.S. dollar, but this segment has yet to be controlled tightly and is in need of more effective management measures. This information was given in recent discussions to amend the Tourism Law held by the Vietnam National Administration of [...]

Electric rates to float on July 1 Posted: 06 Jun 2012 09:16 PM PDT Viet Nam will officially deregulate the power market on July 1 to boost competition and reduce the monopoly of the Viet Nam Electricity Corporation (EVN). Deputy Minister of Industry and Trade Hoang Quoc Vuong said many power companies had incurred financial losses because they had been forced to sell electricity to the EVN at below [...]

CPI in June forecast to rise 0.1-0.2pct Posted: 06 Jun 2012 09:15 PM PDT The national consumer price index (CPI) is forecast to edge up by 0.1-0.2 percent in June against the previous month, says the Ministry of Industry and Trade’s Market Management Board. Prices of goods, especially food and foodstuff, remain stable; interest rates of commercial loans and oil prices are going down, the board said. However, the [...]

Banks to disburse VND30 trillion to City enterprises Posted: 06 Jun 2012 09:11 PM PDT The commercial banks in Ho Chi Minh City will disburse about VND30 trillion (US$1.44 billion) this June to support enterprises in production and trade. The disbursement was announced on June 5 at a meeting between Ho Chi Minh City authorities, the State Bank of Vietnam's (SBV) Ho Chi Minh City branch, and other commercial banks [...]

Vietnam not to apply sharp petrol price cuts Posted: 06 Jun 2012 09:10 PM PDT Despite the recent fall in the import price of petroleum products, price cuts will not be as sharp as price hikes, said the Ministry of Industry and Trade. Petrol price cuts could not be as sharp as price hikes Instead of cutting price, the government will raise import taxes to contribute more to the petroleum [...]

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