Vietnam Business News

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• Banks open up to Vietnam real estate market
• Completed housing projects in Hanoi attracting buyers: Knight Frank
• Vietnam’s credit growth stands at 1.76pct as of first week of Jul: Ngoan
• Agribank to lend for buying rice for storing purpose
• Bad debts for securities investment hit 485b dong
• Vietnam banks reported to breach US dollar rate cap
• Local shoemakers do not evade taxes : Brazil
• $4.6b project has investment license revoked
• Low consumption dragging inflation down: experts

Banks open up to Vietnam real estate market Posted: 15 Jul 2012 02:03 AM PDT Many banks have started to provide low-interest loans for people real housing demand, which has fostered hopes of jumpstarting the stagnant real estate market. Director of a trading floor on Khuat Duy Tien Street, in Hanoi, said, "We've seen an increased number of customers in June who want to borrow to buy homes." Bui Nhat [...]

Completed housing projects in Hanoi attracting buyers: Knight Frank Posted: 15 Jul 2012 02:02 AM PDT Home buyers are now mostly in the real needs and are looking for apartments worth from 800 million dong to 2.5 billion dong, covering area of 50-90 square metre (m2), according to Knight Frank's latest report on Hanoi's real estate market in Q2/2012. The report also said that completed or to-be completed apartments are attracting [...]

Vietnam’s credit growth stands at 1.76pct as of first week of Jul: Ngoan Posted: 15 Jul 2012 02:01 AM PDT As per previous report from the State Bank of Vietnam (SBV), till the end of June 30, the country's credit growth was 0.76%. Many specialists said that the central bank should not lower further interest rate cap, the local newswire Thoi Bao Ngan Hang reported on July 12, citing Vu Viet Ngoan, chair of the [...]

Agribank to lend for buying rice for storing purpose Posted: 15 Jul 2012 01:58 AM PDT Vietnam Bank for Agriculture and Rural Development (Agribank) has recently sent documents to its entire system about lending programme to buy rice for stockpile in Summer-Autumn crop 2012. Accordingly, the bank required its branches to actively access food companies that were assigned to purchase rice for stockpile to understand the needs then evaluate and make [...]

Bad debts for securities investment hit 485b dong Posted: 15 Jul 2012 01:58 AM PDT As per report of credit institutions, the total outstanding loans for real estate investment till the end of May 2012 were about 197 trillion dong (of the total loans of 2,600 trillion dong), of which, bad debts accounted for about 12 trillion dong, equivalent to 6.5%, Nguyen Huu Nghia, head of banking inspection and supervision [...]

Vietnam banks reported to breach US dollar rate cap Posted: 15 Jul 2012 01:58 AM PDT Some of Vietnamese banks offered US dollar deposit interest rates 100 percent higher than the cap to attract depositors, local newspaper Sai Gon Tiep Thi reported. The newspaper quoted a depositor in district 1, Ho Chi Minh city as saying that she was offered 4 percent interest rate for her US dollardeposit, 100 percent higher [...]

Local shoemakers do not evade taxes : Brazil Posted: 15 Jul 2012 01:55 AM PDT After a nine-month investigation, Brazil came to a conclusion that Vietnamese shoemakers do not evade anti-dumping duties, said the Vietnam Competition Authority under the Ministry of Industry and Trade on Wednesday. Brazil officially announced its final conclusion last Thursday, after the working group of Brazil's Department of Commercial Defense (DECOM) had interrogated the two biggest [...]

$4.6b project has investment license revoked Posted: 15 Jul 2012 01:51 AM PDT The northern province of Thai Nguyen has officially withdrawn the investment license from a 97 trillion dong (US$4.6 billion) project claimed to be invested in by the Viet Bac SVA Real Estate Company. On May 19, the company started the construction of the Dan-Ho Nui Coc Project, saying that it would involve total investment of [...]

Low consumption dragging inflation down: experts Posted: 15 Jul 2012 01:50 AM PDT The easing of inflation in recent months was mainly due to very slow consumption, which has caused the economy to stay sluggish, financial experts said at a conference Wednesday. There were favorable conditions in both international and local markets for consumer prices to fall, but low domestic demand was the main reason, news website VnExpress [...]

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