Vietnam Business News

---

• State commercial banks account for over 50% total non performing loans
• Vietnam allows securities companies to participate in government bill auctions
• Southern hub covered in failed property sites
• Oil refinery expansion backed
• Vietnamese garment hangers face 188% dumping duty in US
• VN needs to change investment policy: Japanese expert
• Bad debts weigh on local banks and businesses
• Rice exports fetch US$2.1 billion
• Gold treads water
• Noi Bai IP getting set to roll out a new phase

State commercial banks account for over 50% total non performing loans Posted: 31 Jul 2012 08:45 AM PDT State commercial banks hold 50.5% of the total non performing loans (NPLs) in the Vietnam banking system as of March 31, 2012, the state run newspaper VnEconomy reported. Meanwhile commerical joint stock banks hold 27.8%, foreign banks account for 4.2% and other credit institutions contribute 17.5% of the NPLs which are equal to 8.6% of [...]

Vietnam allows securities companies to participate in government bill auctions Posted: 31 Jul 2012 08:44 AM PDT Vietnam has officially allowed securities companies to take part in government bill auctions through the Circular No 106/TTLT-BTC-NHNN dated June 28, 2012 issued by the State Bank of Vietnam (SBV) and the Ministry of Finance (MoF). The new Circular replaces the Circular 19 issued on March 18, 2004 by the Ministry of Finance. There are [...]

Southern hub covered in failed property sites Posted: 31 Jul 2012 08:43 AM PDT Many unfinished property projects are springing up all over Ho Chi Minh City. Most projects developed in the boom 2000-2008 period have been deserted although the land prices have surged many times. There are a dozen of projects invested within last10 years with completed infrastructure and road networks left with just a few constructed houses [...]

Oil refinery expansion backed Posted: 31 Jul 2012 08:40 AM PDT The Prime Minister ratified a decision on a preferential financial regime for the country’s first oil refinery to ensure its business efficiency and future expansion. According to a report published on the Government website www.chinhphu.vn last Friday, the Dung Quat Oil Refinery will be exempted from corporate income tax of 25 per cent for four [...]

Vietnamese garment hangers face 188% dumping duty in US Posted: 31 Jul 2012 08:39 AM PDT The US Department of Commerce (DOC) has preliminary imposed an anti-dumping tariff of 188 percent on steel garment hangers imported from Vietnam. According to the Competition Management Department under the Ministry of Industry and Trade (MoIT), the DOC filed countervailing duty petitions against steel garment hangers from Vietnam and Taiwan (China). Under the petitions, anti-dumping [...]

VN needs to change investment policy: Japanese expert Posted: 31 Jul 2012 08:38 AM PDT Vietnam should develop better policies and be more transparent to attract investment for infrastructure development, says Tadashi Maeda, a Senior Advisor of the Japanese government. Tadashi, who currently is the Managing Executive Officer and Global Head of the Infrastructure Finance Group based in Tokyo, told Tuoi Tre in an interview that for a long-term strategy, [...]

Bad debts weigh on local banks and businesses Posted: 31 Jul 2012 08:38 AM PDT The high ratio of bad debt is a heavy burden on the national economy, requiring Government measures to prevent it from slowing down, according to a leading economist. Dr. Le Xuan Nghia, Deputy Head of the National Financial Supervisory Committee, says out of concern for bad debt many banks are hesitant to offer loans, despite [...]

Rice exports fetch US$2.1 billion Posted: 31 Jul 2012 08:33 AM PDT  Vietnam's rice exports reached approximately 4.6 million tonnes, worth US$2.1 billion, in the first seven months of this year, according to the Vietnam Food Association (VFA). VFA Chairman Truong Thanh Phong said that despite difficulties, Vietnam is likely to achieve its yearly target of exporting 7 million tonnes of rice if the country focuses on [...]

Gold treads water Posted: 31 Jul 2012 08:31 AM PDT Price of gold in Vietnam hovered below VND42.1 million a tael (1.2 ounces) on July 31 as global price stood still ahead of the US Federal Reserve and European Central Bank meetings. Saigon Jewelry Company, Vietnam's biggest gold processer and trader, bought the metal at VND41.95 million and sold at VND42.1 million as of 8.55am [...]

Noi Bai IP getting set to roll out a new phase Posted: 31 Jul 2012 08:30 AM PDT Hanoi-based Noi Bai Industrial Park's second phase is expected to start as soon as site clearance is completed late this year. Hanoi Industrial and Export Processing Zones Authority (Hiza) vice chairman Nguyen Xuan Linh said site clearance would be finalised this year. Noi Bai Industrial Park's (IP) developer, a joint venture between Malaysia's Renon Group [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610