Vietnam Business News

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• Slow lending could stall market – brokerage
• Vietnam’s corporate debt worrying
• Northern travel firms offer same tours in joint promo
• Late tax payment fines may be charged progressively
• C.bank: Credits in city bounce back
• Ba Ria-Vung Tau has an edge to attract PPP investment
• Gas supplies to remain stable
• Vietnam allows banks higher lending targets to spur growth
• Weak banks put under hardest pressure ever
• Int’l travel expo to be held in HCM City

Slow lending could stall market – brokerage Posted: 17 Aug 2012 04:31 AM PDT Vietnam’s slowing credit growth would pressure banks’ earnings while small private firms would face tough access to funds, which would put a brake on the country’s expanding stock markets, a brokerage report said. Loans this year could grow 6 percent from 2011, after banks’ lending as of Aug. 8 edged up just 1.07 percent from [...]

Vietnam’s corporate debt worrying Posted: 17 Aug 2012 04:30 AM PDT The weighted average debt-to-equity ratio in book value gleaned from the second quarter financial statements of 647 non-financial companies listed on the two bourses of Vietnam is among the world's highest, up to 1.53. Nguyen Xuan Thanh from the Fulbright Economics Teaching Program unveiled the astonishing figure at the 2012 Investment Conference held by Nhip Cau [...]

Northern travel firms offer same tours in joint promo Posted: 17 Aug 2012 04:28 AM PDT One month after this year's travel stimulus program was kicked off, travel firms in northern Vietnam have cooperated with each other to offer four identical tours in their joint promotion. Specifically, the four tours are the four-day Danang-Hoi An-My Son tour priced at VND5.5 million a customer and the five-day Saigon-Phnom Penh-Siem Riep tour at [...]

Late tax payment fines may be charged progressively Posted: 17 Aug 2012 04:26 AM PDT  Penalties for late tax payments, currently at 0.05% per day, irrespective of the period of delay, may be charged on a progressive basis in the future, according to the draft amendment to the Tax Management Law under consideration of the National Assembly (NA) Standing Committee at present. The Ministry of Finance deemed the penalty rate [...]

C.bank: Credits in city bounce back Posted: 17 Aug 2012 04:26 AM PDT Credits in HCMC have vigorously bounced back over the past three months owing to monetary easing, a situation described by an official of the central bank's HCMC branch as favorable for the city to achieve the credit growth goal. Nguyen Hoang Minh, deputy director of the central bank branch, said at a credit contracts signing [...]

Ba Ria-Vung Tau has an edge to attract PPP investment Posted: 17 Aug 2012 04:23 AM PDT Ba Ria-Vung Tau has more advantages in attracting private investment than other southern provinces thanks to its good infrastructure, speakers said at a conference on attracting public-private partnership (PPP) investments in Vung Tau City on Thursday. Tomohide Oyama from the Japan International Cooperation Agency (JICA) said there are many opportunities for private enterprises in Ba [...]

Gas supplies to remain stable Posted: 17 Aug 2012 04:14 AM PDT The supply of gas is sufficient and gas prices will not increase, even though the Dung Quat refinery will temporarily halt operations, according to the Viet Nam Gas Association. Meanwhile, gas traders said the refinery’s announcement to suspend production was made so suddenly that they were unprepared. Long An-based MT Gas Company stated that 40 [...]

Vietnam allows banks higher lending targets to spur growth Posted: 17 Aug 2012 04:13 AM PDT Vietnam’s central bank has allowed lenders to raise their credit growth targets to up to 27 percent from a cap of 17 percent in a bid to boost lending and spur economic expansion, a senior central banker said on Friday. Credit growth has been slow this year, as businesses are reluctant to take loans due [...]

Weak banks put under hardest pressure ever Posted: 17 Aug 2012 04:12 AM PDT It is expected that the plans to restructure some commercial banks will be approved in the last months of the year. However, the target of settling all weak banks within 2012 proves to be unattainable. Governor of the State Bank of Vietnam Dao Minh Tu said on Dau tu newspaper, that except Habubank, there has [...]

Int’l travel expo to be held in HCM City Posted: 17 Aug 2012 04:11 AM PDT The International Travel Expo HCM City 2012 ( ITE HCM City ) will be held from September 13-15 with the participation of 500 local and foreign companies from 30 countries and territories. The Vietnam National Administration of Tourism has organised the event in partnership with the HCM City Department of Culture, Sports and Tourism, Vietnam Trade Fair&Advertising [...]

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