Vietnam Business News

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• Hanoi draws 231 FDI projects in nine months
• Banks showing great interest in customers
• Techcombank wins JPMorgan STP Award
• Government demands PetroVietnam investment report
• VietinBank continues lowering lending rates
• Agro-forestry-seafood exports hit 20.4 bln USD
• Argentine businesses to seek trade opportunities in VN
• Samsung enjoys new tax incentives
• Ministry moves to ensure imported fruit safety
• Draft decree sets strict rules for casinos

Hanoi draws 231 FDI projects in nine months Posted: 25 Sep 2012 10:47 AM PDT In the first nine months of 2012, the capital city Hanoi attracted 231 FDI projects with a total registered capital of USD919 million, 88 percent that of the same period last year, reported the Hanoi Statistics Office. Of these projects, the number of newly-granted projects was 155, with capital of USD579 million, and 76 projects [...]

Banks showing great interest in customers Posted: 25 Sep 2012 10:46 AM PDT Banks are scaling up efforts to attract depositors in preparation for the year-end peak trading season. Despite modest credit growth of 0.9 per cent only in 2012's first half, ACB just presented a new interest rate table with a 13 per cent, per year for 13-month loans and 12.5 per cent, per year to one-year [...]

Techcombank wins JPMorgan STP Award Posted: 25 Sep 2012 10:46 AM PDT Today, at Techcombank Headquarters Techcombank was awarded "The 2012 Elite Quality Recognition Award for Outstanding Achievement of Best-in Class" by JPMorgan – one of the top US banks. Every year, JPMorgan evaluates payment service quality of its correspondent banks in order to consider giving STP award to the banks with STP ratio higher than 99 [...]

Government demands PetroVietnam investment report Posted: 25 Sep 2012 10:45 AM PDT The Ministry of Industry and Trade has been urged PetroVietnam to provide a report on its investment activities for the submission to the Prime Minister before October 15. In a document sent to the ministry, Deputy Prime Minister Hoang Trung Hai said the ministry would re-evaluate necessity and efficiency PetroVietnam's projects, including those implemented overseas, [...]

VietinBank continues lowering lending rates Posted: 25 Sep 2012 10:43 AM PDT The Vietnam Commercial Joint Stock Bank for Industry and Trade (VietinBank) continues to reduce lending interest rates for individual and business customers to help ease their financial difficulties in the remaining months of this year. The bank will offer various credit packages with the lowest annual interest rates of 8.95% for loans in Vietnamese dong [...]

Agro-forestry-seafood exports hit 20.4 bln USD Posted: 25 Sep 2012 10:40 AM PDT Vietnam earned 2.3 billion USD from exporting agro-forestry and fishery products in September, pushing the total revenue for nine months of this year to 20.4 billion USD, up 10.2 percent year on year. The Ministry of Agriculture and Rural Development reported on September 25 that agricultural products brought home 11.1 billion USD, up 6.2 percent [...]

Argentine businesses to seek trade opportunities in VN Posted: 25 Sep 2012 10:40 AM PDT Some 200 firms in Argentina will engage in a trade promotion activity in Viet Nam late October. The event will be held by the Argentine Economy Ministry. In November, the Argentina Federal Investment Council will organize a trade promotion delegation to Viet Nam, with the participation of eight foodstuff trading companies in Buenos Aires, Catamarca, [...]

Samsung enjoys new tax incentives Posted: 25 Sep 2012 10:39 AM PDT Prime Minister Nguyen Tan Dung has given the nod for tax incentives to be granted to giant Samsung Electronics of the Republic of Korea, allowing the company to begin work on a factory expansion project in northern Bac Ninh province. The proposal was made by the Ministry of Planning and Investment as a means to [...]

Ministry moves to ensure imported fruit safety Posted: 25 Sep 2012 10:35 AM PDT The Ministry of Agriculture and Rural Development (MARD) has splashed out 1.5 million USD on three machines designed to monitor pesticide levels on fruit in an attempt to enhance food safety on imports. Director of MARD’s Plant Protection Department Nguyen Xuan Hong said authorities would sample up to 30 percent of goods batches suspected to [...]

Draft decree sets strict rules for casinos Posted: 25 Sep 2012 10:31 AM PDT A minimum investment of 4 billion USD will be required for opening a casino in Vietnam, according to a draft decree prepared by the Ministry of Finance. The ministry is seeking public opinion and expert feedback on the draft decree on management of casinos and e-games services that it has just completed. The draft decree [...]

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