Vietnam Business News

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• Banks still on the back foot
• Small sized projects increase
• Hydropower projects left behind as investors flee
• Domestic gold price hits two-month low
• Blue chips lift shares in HCM City
• Despites strict regulations, Vietnam still attractive to casino developers
• Vietnam’s bond yields drop to one-month low as cash spurs demand
• Interbank trading dong -23%, dollar -6% in week ending Oct 26
• Ten cement projects put on hold
• Japan helps Vietnam attract tourists

Banks still on the back foot Posted: 01 Nov 2012 12:15 AM PDT Continuing economic difficulties and bad debts have bitten into bank profits. Banks' credit has expanded slowly, albeit banks took constant efforts to soften lending rates and roll out concessionary credit packages to woo customers. State Bank statistics show that banking sector credit expanded 2.35 per cent in the year to the end of September. Experts [...]

Small sized projects increase Posted: 01 Nov 2012 12:13 AM PDT Supporting industry and software service investments pouring into Vietnam are stimulating the proliferation of small-sized projects in southern hub industrial parks. The size of new projects in southern hub industrial parks (IP) now commonly feature a capital value in the range of $200,000 to $3 million. According to Long An Industrial Zones Authority (Liza), Liza [...]

Hydropower projects left behind as investors flee Posted: 01 Nov 2012 12:12 AM PDT Many investors of small- and medium-sized hydropower projects in the central provinces have unexpectedly vanished, while their facilities remain unfinished, exposing the projects to harsh weather and forcing locals residing in the zoned land plots into a tough spot. Located in the most remote mountainous area of Quang Nam's Tay Giang District, the 30MW Tr'Hy [...]

Domestic gold price hits two-month low Posted: 01 Nov 2012 12:11 AM PDT Gold prices in the domestic market decreased sharply yesterday to less than VND46 million (US$2,190) per tael, falling to two-month low, bucking the world market’s upward trend. Yesterday morning, the DOJI Group announced a selling price of VND46.12 million per tael ($2,196) (one tael is equivalent to 0.5oz) then lowering to VND45.95 million ($ 2,188). [...]

Blue chips lift shares in HCM City Posted: 01 Nov 2012 12:11 AM PDT Strong rises of several blue chips on the HCM City Stock Exchange pulled the VN-Index up by 0.23 per cent to 389.32 points by the end of this morning. Military Bank (MBB) hit the ceiling price at VND13,300 a share while insurer Bao Viet Holdings (BVH), dairy giant Vinamilk (VNM), Sacombank (STB), food producer Masan [...]

Despites strict regulations, Vietnam still attractive to casino developers Posted: 31 Oct 2012 09:03 PM PDT Analysts believed that with the expected strict control over casino projects, Vietnam would keep casino developers away. However, they are wrong. The construction of the first tower with 541 rooms would start in January 2013 by MGM Grand Ho Tram Beach in the sea province of Ba Ria – Vung Tau. Meanwhile, the execution of [...]

Vietnam’s bond yields drop to one-month low as cash spurs demand Posted: 31 Oct 2012 09:02 PM PDT Vietnam's bonds gained for a fifth day, pushing the five-year yield to the lowest level in more than a month, on speculation banks have more cash to investment in debt. The dong was steady. Fund supply in the banking system has "improved" after lenders bought 60 metric tons of gold from the public since May [...]

Interbank trading dong -23%, dollar -6% in week ending Oct 26 Posted: 31 Oct 2012 09:01 PM PDT The total interbank trading value of the dong plunged 23% to VND50.147 trillion in the week ending Oct 26 from VND65.461 trillion a week earlier while that of the dollar slipped 20.6% to VND62.02 trillion from VND65.955 trillion. The total interbank trading value of the dong plunged 23% to VND50.147 trillion in the week ending [...]

Ten cement projects put on hold Posted: 31 Oct 2012 10:55 AM PDT The Ministry of Construction has decided to delay the investment schedule of ten cement plant projects to help reduce the huge pressure of investment capital shouldered by the project owners, said an official. Le Van Toi, head of the Building Material Department under the construction ministry, said eight cement projects were set to be operational [...]

Japan helps Vietnam attract tourists Posted: 31 Oct 2012 10:55 AM PDT A delegation of the Japan Association of Travel Agents (JATA) and other agencies has inspected some tourist sites in northern provinces, aiming to help Vietnam attract Japanese tourists. According to Japanese enterprises, destinations such as Phat Diem Cathedral and Tam Coc-Bich Dong in Ninh Binh Province, Ho Dynasty Citadel in Thanh Hoa Province and Halong [...]

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