Vietnam Business News

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• SBV disapproves ATM service fees
• Golden opportunity for local retailers
• Ha Noi apartment market sees Q2 growth
• Deflation could be negative
• Viet Nam on track to attract $15 billion in investment
• Increasing capital flow to cope with bad debt
• Policy bottlenecks discourage IT enterprises
• Ministry wants rice price raised to back farmers
• Fuel firms allowed to adjust prices now
• Vietnam cuts rates again to stimulate economy-cbank

SBV disapproves ATM service fees Posted: 30 Jun 2012 03:10 AM PDT The State Bank of Vietnam (SBV) has asked commercial banks to refrain from charging customers for ATM transactions within their respective bank's ATM network and from adjusting the fees for ATM transations outside their network. Commercial banks are being kept from increasing fees for customers of other banks who use their ATMs. Meanwhile card switching [...]

Golden opportunity for local retailers Posted: 30 Jun 2012 03:10 AM PDT According to a recent report on the 2012 Global Retail Development Index (GRDI) by A. T. Kearney, a US-based global management consulting firm, Vietnam has fallen from its top position in 2008 to 23rd last year, and now out of the 30 most favoured retail markets. Economists attribute the country's fall in the global ratings [...]

Ha Noi apartment market sees Q2 growth Posted: 30 Jun 2012 03:07 AM PDT In the condominium-for-sale sector, the quarter welcomes 1,700 newly launched units, a slight increase in the 1,100 units launched in the first quarter. Supply growth was mostly attributed to improved market sentiment following a series of interest rate cuts from 14 per cent to 9 per cent over just three months, Richard Leech, CBRE Viet [...]

Deflation could be negative Posted: 30 Jun 2012 03:06 AM PDT An unexpected decline in the consumer price index (CPI) in June will demonstrate that the Govern-ment has successfully controlled inflation. However, economists are also urging the Government to scrutinise the figure, saying that a deflationary period could have negative impacts on the economy if it extends for several months. The General Statistics Office reported that [...]

Viet Nam on track to attract $15 billion in investment Posted: 30 Jun 2012 03:05 AM PDT Viet Nam is well set to achieve this year’s foreign direct investment (FDI) targets, including mobilisation of US$15 to 16 billion and disbursement of $10 billion, a senior official from the Ministry of Planning and Investment has said. Do Nhat Hoang, head of MPI’s Foreign Investment Department, said FDI mobilisation in the first half of [...]

Increasing capital flow to cope with bad debt Posted: 30 Jun 2012 03:01 AM PDT The State Bank of Vietnam has proposed setting up a company with initial capital of VND100,000 billion to trade bad debt in the banking system. Is it possible that this company alone can resolve the problem? High on the country's economic agenda this year is the restructuring of the banking system to make it healthier [...]

Policy bottlenecks discourage IT enterprises Posted: 30 Jun 2012 03:00 AM PDT The country's inconsistent policies coupled with the current economic slump have discouraged companies in the information technology industry, prompting them to think twice about the execution of IT projects now. At the meeting between the city's leaders with IT companies in HCMC on Wednesday, Chu Tien Dung, chairman of Quang Trung Software City (QTSC) Development [...]

Ministry wants rice price raised to back farmers Posted: 30 Jun 2012 02:59 AM PDT The Ministry of Finance has fixed the average production cost for a kilo of rice in the Mekong Delta in this year's summer-fall crop at VND3,993, meaning traders must purchase the food staple at above VND5,190 to secure 30% profit for farmers. The ministry announced the production cost of rice in the 2012 summer-fall crop [...]

Fuel firms allowed to adjust prices now Posted: 30 Jun 2012 02:58 AM PDT Local fuel wholesalers are now allowed to take the initiative in proposing price adjustments, the Ministry of Finance said in a document released Friday. The only requirement is that they have to report their price adjustment proposal to the ministries of finance and of industry and trade. "In case of a discrepancy between fuel cost [...]

Vietnam cuts rates again to stimulate economy-cbank Posted: 30 Jun 2012 02:57 AM PDT Vietnam is cutting key policy rates for the fifth time this year, the central bank said on Friday, in a bid to stimulate the economy after the country reported first-half growth that was significantly lower than a year earlier. The State Bank of Vietnam said in a statement it will bring the refinance rate to [...]

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