Vietnam Business News

---

• Madrid hosts talks on economic ties with Vietnam
• Stock market continues downward trend
• FPT wins bids for two projects abroad
• Plans for restructuring weak banks ready
• Hanoi to reduce taxes
• RoK, Vietnam aim for US$20 billion in trade turnover
• Tra fish exporters warned against concentrating upon the US market
• Bank shareholders repeat violations
• Vinalines is $2bln in debt: report
• Long-term savings interests soar after cap removal

Madrid hosts talks on economic ties with Vietnam Posted: 14 Jun 2012 10:33 PM PDT A seminar on Vietnamese-Spanish economic potential and opportunities for cooperation has been held in Madrid , Spain . When addressing the seminar, Deputy Foreign Minister Bui Thanh Son expressed his pleasure at the fine development of the relationship between both countries, especially after setting up their strategic partnership. According to Vietnam 's Ambassador to Spain [...]

Stock market continues downward trend Posted: 14 Jun 2012 10:33 PM PDT Shares continued to lose ground on June 14 on the nation’s stock exchanges. On the HCM bourse, the VN-Index declined by another 0.5 percent to close at 425.28 points. The value of trades fell by half from the previous day’s level to 767 billion VND (36.5 million USD), as demand continued to shrivel and volume [...]

FPT wins bids for two projects abroad Posted: 14 Jun 2012 10:29 PM PDT FPT Corporation has won bids for two projects in Cambodia and Myanmar, said a source from the telecom company. In particular, FPT Information System Co. Ltd. (FPT IS) has kicked off a project to develop the FPT.ePOS system for the telecom network Hello Network in Cambodia. The system provides a complete solution for multi-service sales [...]

Plans for restructuring weak banks ready Posted: 14 Jun 2012 10:28 PM PDT Specific plans for restructuring each unhealthy bank are now available, said Governor Nguyen Van Binh of the State Bank of Vietnam (SBV) in a document replying to the questions raised by a National Assembly (NA) deputy. Governor Binh said the central bank has formed monitoring groups at weak commercial banks to supervise these credit institutions, [...]

Hanoi to reduce taxes Posted: 14 Jun 2012 10:26 PM PDT To assist troubled enterprises, the Hanoi Tax Department said it will cut VND5,105 billion (USD245 million) of taxes for small and medium-scale enterprises. Enterprises have encountered many difficulties in the first five months of the year because of rising fuel costs and the markets slump. Despite the city’s support measures, the situation shows no signs [...]

RoK, Vietnam aim for US$20 billion in trade turnover Posted: 14 Jun 2012 10:26 PM PDT Trade turnover between Vietnam and the Republic of Korea (RoK) was US$18.5 billion in 2011, and is likely to reach over US$20 billion by the end of this year. The figures were released at a seminar on trade and investment cooperation recently held between the two countries in the Mekong Delta city of Can Tho [...]

Tra fish exporters warned against concentrating upon the US market Posted: 14 Jun 2012 10:25 PM PDT Meeting with the big barriers in the EU market, Vietnamese tra export companies tend to head for the US market. However, analysts have warned that this may lead to the overly hot development in the exports to the market. The demand for seafood imports from the EU market has been decreasing dramatically, since people have [...]

Bank shareholders repeat violations Posted: 14 Jun 2012 10:24 PM PDT Two major shareholders of Sacombank (STB), the fourth leading listed commercial lender, have continued to sell shares without making mandatory disclosures only five days after they were slapped with penalties by the State Securities Commission for the similar violations. The HCM City Stock Exchange on Tuesday announced that Sai Gon-Asia Financial Investment Joint Stock Co [...]

Vinalines is $2bln in debt: report Posted: 14 Jun 2012 10:24 PM PDT Loss-ridden Vinalines, whose former chairman is wanted for economic offences, is currently burdened with a total debt of more than VND43 trillion, or US$2 billion, according to a government report recently submitted to the National Assembly. As of the end of last year Vinalines, or the Vietnam National Shipping Lines, had total assets worth VND55.85 trillion, [...]

Long-term savings interests soar after cap removal Posted: 14 Jun 2012 08:31 PM PDT Commercial banks are jostling to increase deposit interest rates on savings of above 12 months since the State Bank of Vietnam has removed the cap slapped on deposits under that category. The ceiling rate for long-term deposits of above 12 months was removed on June 8, following the central bank's circular no. 19 which stipulates [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610