Vietnam Business News

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• Mobile operators face falling revenues
• Cash flow expected to go into Vietnam’s real estate
• Lending activities in HCM City surge again
• HCM City firms lukewarm to major loan programme
• Rate cut does not mean easy money for firms
• Gold edged up to VND42.32million/tael on Tuesday morning
• Petrol enterprises earn at least vnd700 profit/litter
• Vietnam coal sales estimated to fall 3 tons in 2012
• Bank interest rate reductions flare up black credit
• Retail market potentials remain huge despite downgrade

Mobile operators face falling revenues Posted: 19 Jun 2012 01:10 AM PDT Mobile operators are bemoaning poor revenues drawn from value added services (VAS) promoted at the EURO 2012 due to small subscriber numbers. While MobiFone offers free mobile data access from 11 pm to 6 am daily, Viettel provides a mobile social football network called “Zozo” and Vinaphone the Vinasport portal, providing users with match updates [...]

Cash flow expected to go into Vietnam’s real estate Posted: 19 Jun 2012 01:00 AM PDT No one can tell when the frozen property market starts to thaw, but given that deposit rates go down sharply, while other investment channels become less attractive, cash flow is expected to run into the real estate sector in the coming time, said a leader of the Vietnamese Ministry of Construction. People still keep a [...]

Lending activities in HCM City surge again Posted: 19 Jun 2012 12:59 AM PDT As per the report of State Bank of Vietnam (SBV)'s HCM City branch, the total outstanding loans of HCM City-based credit institutions as of June 30 are estimated to have reached 779 trillion dong, growing 1.96 percent from the end of last year, according to the local newswire VnExpress. Of which, short term loans increased [...]

HCM City firms lukewarm to major loan programme Posted: 19 Jun 2012 12:56 AM PDT With only 77 firms having applied for preferential loans of over 2.2 trillion dong, the target to have the 30 trillion dong credit package absorbed by local firms will be hard to achieve, according to the HCM City Department of Industry and Trade and the HCM City Union of Business Associations (Huba). At a recent [...]

Rate cut does not mean easy money for firms Posted: 19 Jun 2012 12:56 AM PDT The State Bank of Vietnam (SBV) early last week cut the ceiling deposit rate for the fourth time in four months as the over regulated market start to mellow. However, big lending rate cuts are unlikely due to the bank's high borrowing costs from old deposits and bad debt risks. The central bank on June [...]

Gold edged up to VND42.32million/tael on Tuesday morning Posted: 18 Jun 2012 10:48 PM PDT Vietnam gold edged up to VND42.32million/tael on Tuesday morning, following the world suit. SJC Hanoi quoted at VND42.22 million/tael for bid and VND42.32 million/tael for ask, respectively as of 9:18 am, Hanoi time. Sacombank-SBJ gold was listed at VND41.20-VND42.30 million/tael for bid and ask, respectively. Rong Thang Long gold, a product of Bao Tin Minh [...]

Petrol enterprises earn at least vnd700 profit/litter Posted: 18 Jun 2012 10:45 PM PDT Petrol enterprises earn at least vnd700 profit per litter due to lower imported prices, the state run newspaper tuoi tre reported. The figure is calculated for 30 days moving average of imported petrol prices. Taking the prices from June 7 when the local petrol prices were cut by VND800 a litter to VND21,900 and import [...]

Vietnam coal sales estimated to fall 3 tons in 2012 Posted: 18 Jun 2012 10:43 PM PDT Vietnam National Coal and Mineral Industries Group (Vinacomin) estimated that the country's coal sales will fall 3 tons this year due to lower local demand. Vinacomin's also estimated that as of June 30 ,2012, the country's coal inventory will reach 8.5 tons; coal sales in H1/2012 is 20 tons, down 10% on year and meeting [...]

Bank interest rate reductions flare up black credit Posted: 18 Jun 2012 09:53 PM PDT The decision by the State Bank on slashing the deposit interest rate ceiling to 9 percent has raised the worry that this would lend a hand to the black credit to grow. In theory, when the deposit interest rates decrease, which cannot bring considerable profits to depositors any more, they would keep money in coffers [...]

Retail market potentials remain huge despite downgrade Posted: 18 Jun 2012 09:51 PM PDT Despite Vietnam losing its position among the top 30 attractive retail markets worldwide as surveyed by the U.S.-based A.T. Kearney Consultancy Group, experts said the country remains a destination of choice for retailers. However, they point out the application of Economic Needs Test (ENT) coupled with local economic hardship as the reason why Vietnam is [...]

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