Vietnam Business News

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• FTA needed for Vietnamese businesses in EU
• Customers shift to mobile banking service
• Internal audits are necessary: experts
• Banks spur mobilization rate to secure liquidity
• VN-Indonesia Joint Commission meets in Jakarta
• Billions of dollars buried under real estate projects
• State Bank aims to stabilise gold prices
• Techcombank throws open doors at new headquarters
• Financial leasing firms struggle to reclaim debts
• Vietnam tightens checks on more Chinese fruit

FTA needed for Vietnamese businesses in EU Posted: 19 Sep 2012 04:24 AM PDT It is necessary for Vietnam and the EU to accelerate the negotiations on a bilateral free trade agreement (FTA) as this will be beneficial for all parties concerned, say economic analysts. At a seminar jointly held by the Vietnamese Chamber of Commerce and Industry (VCCI) and the Dutch Embassy in Hanoi on September 18, economic [...]

Customers shift to mobile banking service Posted: 19 Sep 2012 04:23 AM PDT Mobile channels will be the top priority of several banks as customers are now turning to use mobile services, according to experts at a seminar on customer relationship management (CRM) held last week in HCMC. According to Graham Costello from Oracle Group, the approach to banks has changed compared to a decade ago. Quite many [...]

Internal audits are necessary: experts Posted: 19 Sep 2012 04:23 AM PDT A department for internal audits is necessary to probe financial statements and publish reports that are both objective and familiar with the activities of a company, said Ken Atkinson, managing partner of Grant Thornton Vietnam. He was speaking at 'Putting investors at the heart of the financial system' workshop held by UK-based Association of Chartered [...]

Banks spur mobilization rate to secure liquidity Posted: 19 Sep 2012 04:20 AM PDT Capital mobilization has turned active this month with many banks launching promotional programs and offering high interest rates to lure depositors in a move aimed at securing liquidity. Asia Commercial Bank (ACB) since September 12 has launched a program to offer a deposit rate of up to 13% per annum for the 13-month term. Meanwhile, [...]

VN-Indonesia Joint Commission meets in Jakarta Posted: 19 Sep 2012 04:19 AM PDT Vietnam's Minister of Industry and Trade Vu Huy Hoang and Indonesian Minister of Trade Giata Irawan Wirjawan have co-cahired the sixth meeting of the Vietnam-Indonesia Joint Commission on Economic, Scientific and Technological Cooperation held in Jakarta, Indonesia, on Sept. 17-18. At the two-day event, participants at the conference acknowledged new growth in two-way trade, increasing [...]

Billions of dollars buried under real estate projects Posted: 19 Sep 2012 04:19 AM PDT The real estate market has got frozen, while investors have run away, leaving the market in the oversupply status. It is estimated that with 60,000 apartments unsold, roughly 2.86 billion dollars worth of capital has been "buried" under the real estate projects. According to Nguyen Manh Ha, Director of the Housing and Real Estate Market [...]

State Bank aims to stabilise gold prices Posted: 19 Sep 2012 04:17 AM PDT The State Bank of Viet Nam is implementing several measures to stabilise the domestic gold market, deputy governor Le Minh Hung told the media on Monday. In recent days, gold prices in the domestic market have fluctuated and at times hit a record level of more than VND47 million per tael after 10 months, and [...]

Techcombank throws open doors at new headquarters Posted: 19 Sep 2012 04:16 AM PDT Techcombank officially opened its new headquarters, named Techcombank Tower, in Ha Noi on Monday. This is a remarkable event marking the continuous development of Techcombank in its 19 years of history, throughout which the core value of putting the “customer first” has always been embraced. Techcombank has become one of the leading commercial joint stock [...]

Financial leasing firms struggle to reclaim debts Posted: 19 Sep 2012 04:16 AM PDT Despite facing the highest rates of bad debts among credit institutions, it is by no mean easy for financial leasing firms to reclaim debts. Vietnam Financial Leasing Association general secretary Dam Duc Long sheds some light on the issue. National Financial Supervisory Commission figures show bad debts are very high at financial leasing companies. How [...]

Vietnam tightens checks on more Chinese fruit Posted: 19 Sep 2012 04:15 AM PDT After already looking more closely at grapes and potatoes, Vietnam will tighten control over plums and pomegranates imported from China after several samples of the fruits were found containing harmful substances, the Plant Protection Department under the Ministry of Agriculture and Rural Development has announced. In early August Chinese grapes and potatoes were still checked [...]

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