Vietnam Business News

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• 14 vietnam big banks hold 62% bad debts: report
• Vietnam two-year bonds fall ahead of debt auction; Dong steady
• HCM City aims for 10% growth in 2012
• July 17: Vietnam shares rise led by brokers, CTG sees heavy put-through deal
• LienVietPostBank offers preferential loans for stocking rice
• Regional tourism ministers to meet in city
• Promoting trade and investment in Laos
• Cement industry urged to co-operate
• Setting up sea economic zones now fashionable in coastal provinces
• More banks join cbank’s rate cut request, others wait

14 vietnam big banks hold 62% bad debts: report Posted: 17 Jul 2012 06:45 AM PDT 14 biggest banks in Vietnam accounted for as much as 62% bad debts of the whole banking system Vietnam's bad debts have been a pressing issue recently and a research report by a commercial bank showed that 14 biggest banks in Vietnam accounted for as much as 62% bad debts of the whole banking system, [...]

Vietnam two-year bonds fall ahead of debt auction; Dong steady Posted: 17 Jul 2012 06:44 AM PDT Vietnam's two-year bonds fell on speculation yields may rise at a debt auction later this week. The dong was little changed. The State Treasury will offer 1 trillion dong ($48 million) of two-year bonds and 2 trillion dong of five-year securities at a sale on July 19, according to a statement on the Hanoi Stock [...]

HCM City aims for 10% growth in 2012 Posted: 17 Jul 2012 06:43 AM PDT HCM City is striving to achieve an annual growth rate of 10 percent in 2012 while controlling inflation, stabilising the macro-economy and ensuring social welfare. These goals were released at the fifth meeting of the municipal People's Council from July 11-13. Participants at the meeting said building synchronous infrastructure within the city is vitally important, [...]

July 17: Vietnam shares rise led by brokers, CTG sees heavy put-through deal Posted: 17 Jul 2012 06:41 AM PDT Vietnamese shares bounced back strongly today led by securities stocks, volume rose thanks to heavy CTG put through. The benchmark VN Index rose 3.57 points or 0.86% to 417.55. Volume rose 15.34% to 48.1 million shares worth of VND782.7 billion. Put through trading contributed 12.4 million shares worth of VND275.16 billion. We saw 10 million [...]

LienVietPostBank offers preferential loans for stocking rice Posted: 17 Jul 2012 06:39 AM PDT LienVietPostBank has announced it will offer VND500 billion (US$24 million) in preferential loans to help rice traders stockpile the harvest from the 2012 summer-autumn crop. The interest rates on the loans will be set at 11.5% per year until August 10. Rice traders will be supported for 100% of the interest on loans they borrow [...]

Regional tourism ministers to meet in city Posted: 17 Jul 2012 06:39 AM PDT Tourism ministers of Vietnam, Laos, Cambodia and Myanmar will attend a tourism meeting in HCMC this September to discuss the next move to boost the tourism's image "Four Countries-One Destination." HCMC – Tourism ministers of Vietnam, Laos, Cambodia and Myanmar will attend a tourism meeting in HCMC this September to discuss the next move to [...]

Promoting trade and investment in Laos Posted: 17 Jul 2012 06:37 AM PDT Boosting trade and investment in Champasak province and Vientiane capital in Laos was the focus of a seminar held in Ho Chi Minh City on July 16. Participating businesses were given information on the policies and development potential in the two countries and were encouraged to learn more about the areas of their concern for [...]

Cement industry urged to co-operate Posted: 17 Jul 2012 06:37 AM PDT Cement companies need to co-operate with, instead of undercutting each other, to liquidate their large inventories through exports, the Ministry of Construction has said. The inventories are the biggest challenge facing the industry, it said. There is little co-operation among cement exporters, it said, pointing out that while the Viet Nam Cement Association (VCA) recommended [...]

Setting up sea economic zones now fashionable in coastal provinces Posted: 17 Jul 2012 06:36 AM PDT The plan on sea economic zones has been made public by the Ministry of Planning and Investment (MPI) which needed two years and much heart calculation to draw up the plan. Economic zones given grades The Economic Zone Management Department under MPI has been instructed to rank sea economic zones, which the government would refer [...]

More banks join cbank’s rate cut request, others wait Posted: 17 Jul 2012 06:28 AM PDT While more banks have joined in on the central bank's call for rate cuts for old loans, others are trying to avoid doing anything due to their own difficulties, mostly liquidity constraints. Vietnam Export Import Commercial Joint Stock Bank (Eximbank) has been the latest to announce that they will lower the lending interest rate to [...]

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