Vietnam Business News

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• Vietnam cuts key interest rates
• July 2: Vietnam stocks plunge on sour sentiment
• Investment increase tipped
• TEPCO withdraws from Vietnam nuclear project
• The next dollar undercurrent wave
• SBV announces another drop in interest rates
• FDI inflows show signs of improvement
• Japan business sentiment improves, risks remain
• 50% of bad debts feared insolvent
• Apartments in Hanoi thrown to the floor

Vietnam cuts key interest rates Posted: 02 Jul 2012 08:41 AM PDT Vietnam’s central bank says it will trim key interest rates, its fifth cut so far this year as inflation cools amid signs of weakening economic growth. The State Bank of Vietnam said it would lower the refinancing rate — charged on loans to commercial banks — to 10 per cent from 11 per cent from [...]

July 2: Vietnam stocks plunge on sour sentiment Posted: 02 Jul 2012 08:40 AM PDT Vietnamese stocks kicked off the new week in the red as investors sold shares to cut loss on fear of further selling pressure, market sentiment was weak. The benchmark VN Index lost 3.07 points or 0.72% to 419.3. Volume fell further by 30.76% to 38.6 million shares worth of VND620.5 billion. Put through trading contributed [...]

Investment increase tipped Posted: 02 Jul 2012 08:34 AM PDT Restructuring and privatisation programmes of State-owned enterprises (SOEs) would open new opportunities for foreign direct investment inflows in Viet Nam. This was one of recommendations heard at the launch ceremony of the Viet Nam Industrial Investment Report (VIIR) 2011 and Introduction of the Viet Nam Investment Monitoring Platform (V-IMP), Phase 1, held in Ha Noi [...]

TEPCO withdraws from Vietnam nuclear project Posted: 02 Jul 2012 08:33 AM PDT Tokyo Electric Power Co (TEPCO) has recently announced its decision to pull back from the nuclear power plant in Vietnam to focus on overhauling its tsunami-crippled Fukushima after the atomic disaster in March 2011. Pham Minh Tuan, head of the nuclear power department under the Electricity Group of Vietnam (EVN), confirmed with Tuoi Tre that [...]

The next dollar undercurrent wave Posted: 02 Jul 2012 08:30 AM PDT The foreign currency market has heated up again when credit institutions begin collecting dollars. The pressure on foreign currency reserves and dong/dollar exchange rate is believed to be harder in the time to come. Foreign banks collecting dollars According to the Governor of the State Bank of Vietnam Nguyen Van Binh, the central bank has [...]

SBV announces another drop in interest rates Posted: 02 Jul 2012 08:29 AM PDT The SBV will lower bank interest rates by another 1% beginning on July 1. The decision, issued on June 29 by the Governor of the SBV set new rates to replace the ones issued in Resolution 1196 on June 8, 2012. According to the SBV, the capital reallocation interest rate will be adjusted to an [...]

FDI inflows show signs of improvement Posted: 02 Jul 2012 08:28 AM PDT Healthy foreign direct investment inflows in the past six months has reinvigorated hope that Vietnam will reach the $11 billion disbursement target for 2012. Foreign investors pumped $890 million into Vietnam last month, raising total disbursed foreign direct investment (FDI) in the last two quarters to $5.4 billion, up 1.9 per cent on-year, according to [...]

Japan business sentiment improves, risks remain Posted: 02 Jul 2012 08:28 AM PDT Sentiment among large Japanese manufacturers improved in the quarter ended June, the Bank of Japan said on Monday, although confidence remained weak amid a lumbering economic recovery. Large manufacturers’ sentiment rose to “minus one” from “minus four” in the previous quarter, according to the central bank’s Tankan survey, offering some positive news for the world’s [...]

50% of bad debts feared insolvent Posted: 02 Jul 2012 08:27 AM PDT In 2011 banks lent out a total of VND258 trillion (USD124 billion) to businesses, with about 10% of them now being considered bad debts, half of which are considered insolvent. The State Bank of Vietnam (SBV) suggested the establishment of a fund for companies dealing with bad debts that are worth moe than VND100 trillion [...]

Apartments in Hanoi thrown to the floor Posted: 02 Jul 2012 08:27 AM PDT Hanoi apartments took their strongest price drop in 2012's second quarter during the last four years. According to CBRE Vietnam, apartment prices have fallen since 2011's second quarter and plummeted in 2012's second quarter. "The 2011 and 2012 crisis is even worse than the 2008 crisis in terms of length and magnitude," said CBRE executive [...]

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