Vietnam Business News

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• Property firms still face difficulties
• Good year for all leading timber exporters
• State bank governor approves Habubank and SHB merge
• Rubber cultivation lifts growers out of poverty
• Urbanization rate set at 38 percent by 2015
• Foreign protectionism threatens exports
• Japan, Vietnam inaugurate rare earth technology centre
• Vietnam, Morocco inked investment protection deal
• Banks increase lending
• Tax relief helps 70,000 small firms

Property firms still face difficulties Posted: 16 Jun 2012 06:43 AM PDT Real estate firms are still facing significant obstacles in accessing loans despite recent government efforts to ease conditions and improve the business environment, experts have told the Vietnam News Agency. The State Bank of Vietnam (SBV) has slashed the ceiling lending interest rate for short-term dong loans to 13 per cent per year. The decision [...]

Good year for all leading timber exporters Posted: 16 Jun 2012 06:39 AM PDT Increases in export orders of wood products are likely to see the sector hitting a value of 4 billion USD in wood exports for this year, slightly higher than last year’s 3.9 billion USD. Nguyen Chien Thang, chairman of the Handicraft and Wood Industry Association of HCM City (HAWA), said almost all major wood processors [...]

State bank governor approves Habubank and SHB merge Posted: 16 Jun 2012 06:39 AM PDT Governor of the State Bank of Vietnam (SBV), Nguyen Van Binh, has given approval in principle to the merger of Hanoi Building Commercial Joint Stock Bank (Habubank) and Saigon-Hanoi Commercial Joint Stock Bank (SHB). The two banks were asked to complete procedures on the merger for submission to the governor for approval. The new bank [...]

Rubber cultivation lifts growers out of poverty Posted: 16 Jun 2012 06:37 AM PDT Rubber cultivation has helped many families, especially from ethnic minorities, in the central province of Binh Thuan escape poverty, according to the province’s Department of Agriculture and Rural Development. The province now has nearly 35,000ha of land under rubber, mostly in Tanh Linh, Duc Linh, Ham Thuan Bac, Ham Thuan Nam , and Ham Tan [...]

Urbanization rate set at 38 percent by 2015 Posted: 16 Jun 2012 06:36 AM PDT The Ministry of Construction has submitted to the Government a draft program for developing urban areas across the country until 2020. The program aims to enhance the regional and international competitiveness of Vietnam's urban centres, build technical and social infrastructure, and create a good urban environment for residents, said Deputy Minister of Construction Nguyen Thanh [...]

Foreign protectionism threatens exports Posted: 16 Jun 2012 06:33 AM PDT Vietnam will face many obstacles in exporting its goods, especially steel products, machinery, equipment, organic chemicals, meat and plastics, the Ministry of Industry and Trade has warned. Cereals and wood products are also likely to be affected. Global-scale trade protectionism is now seen as a political response to the economic difficulties facing many countries. In [...]

Japan, Vietnam inaugurate rare earth technology centre Posted: 16 Jun 2012 06:32 AM PDT A centre for rare earth research and technology transfer opened in Dan Phuong district, Hanoi, on June 16, based on an agreement signed by the Japanese and Vietnamese prime ministers in 2011. The joint project is of special significance because Vietnam has great potential for exploiting rare earth mines but the industry is in its [...]

Vietnam, Morocco inked investment protection deal Posted: 16 Jun 2012 06:32 AM PDT Vietnam and Morocco signed an agreement on investment encouragement and protection in the Moroccan capital city of Rabat on June 15. Speaking after the signing ceremony, Vietnamese Deputy Foreign Minister Bui Thanh Son affirmed the Vietnamese Government's determination to strengthen cooperation with Morocco and join this country's development efforts through boosting investment in the Moroccan [...]

Banks increase lending Posted: 16 Jun 2012 05:43 AM PDT Commercial banks will cautiously attempt to increase lending in the second half of the year while trying to avoid incurring further bad debts, industry leaders have said. Despite a slowdown in credit growth in the opening months of the year, most major banks continued to post comfortable profits for the period. In a recent response [...]

Tax relief helps 70,000 small firms Posted: 16 Jun 2012 05:38 AM PDT More than 70,000 small- and medium sized enterprises (SMEs) in the capital have benefited about 5.15 trillion VND (245 million USD) from the Government’s tax relief policy this year. The package included the extension and reduction of land use fees and corporation income tax payments, according to the deputy director of the city’s Tax Department [...]

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