Vietnam Business News

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• Bank cross-ownership may lead to systematic risk, says expert
• Vietnam’s bond market grows the fastest in East Asia
• Over $12 billion in FDI
• Inbound remittance to hit $9 billion in 2012: WB
• Nation tops Southeast Asia’s wood export market
• Vietnam needs standardizing tra fish
• Foreign travel agencies promote Vietnam’s sea tourism
• Expert downgrades 2012 economic outlook
• Exports to U.S. forecast at 20 billion USD
• Eurozone crisis likely to impact nation’s exports

Bank cross-ownership may lead to systematic risk, says expert Posted: 25 Nov 2012 08:52 PM PST Cross-ownership among credit institutions may result in takeovers, piling bad debts, virtual capital increase and uncontrolled lending. Cross-ownership among credit institutions may result in takeovers, piling bad debts, virtual capital increase and uncontrolled lending, said Vo Tri Thanh, Vice Head of the Central Institute for Economic Management (CIEM), the local newswire Tienphong.vn reported. "Cross-ownership is [...]

Vietnam’s bond market grows the fastest in East Asia Posted: 25 Nov 2012 08:42 PM PST Vietnam had the fastest growing local currency bond market in emerging East Asia in the third quarter of 2012, said the Asian Development Bank (ADB) in its latest Asia Bond Monitor released on Thursday. At the end of September, Vietnam had US$21 billion in outstanding bonds, growing 21.4% year-on-year. On a quarterly basis, however, the [...]

Over $12 billion in FDI Posted: 25 Nov 2012 08:42 PM PST Vietnam has so far this year attracted $12.181 billion in foreign direct investment (FDI), with more than half pouring in newly-licensed projects. According to the latest report from the Ministry of Planning and Investment’s Foreign Investment Agency (FIA), the country has granted licenses to 980 FDI projects during the reviewed period, representing a total capitalisation [...]

Inbound remittance to hit $9 billion in 2012: WB Posted: 25 Nov 2012 08:41 PM PST Vietnam is forecast to receive $9 billion worth of overseas remittances in 2012, according to the latest report of the World Bank (WB). The country ranks ninth among the world’s largest remittance-receiving countries and territories in 2012, said WB Migration and Development report 2012. In the updated report, WB said developing countries will receive a [...]

Nation tops Southeast Asia’s wood export market Posted: 25 Nov 2012 08:40 PM PST Viet Nam has become the largest wood exporter in Southeast Asia, earning US$4 billion over the past ten months of 2012. According to the Ministry of Industry and Trade (MoIT), the value of wood exports has steadily increased from US$1 billion in 2004, to US$3.9 billion in 2011, and US$4 billion in the first ten [...]

Vietnam needs standardizing tra fish Posted: 25 Nov 2012 08:39 PM PST Authorities should discuss and select standards for Vietnamese tra fish to facilitate export activity. Duong Ngoc Minh, chairman of the Freshwater Fish Committee under the Vietnam Association of Seafood Exporters and Producers (VASEP), shared this view at a ceremony to announce the local tra fish industry had met Aquaculture Stewardship Council (ASC) standards. The event [...]

Foreign travel agencies promote Vietnam’s sea tourism Posted: 25 Nov 2012 08:38 PM PST Many travel agencies in Europe are promoting Vietnam as a destination for tourists rather than a stopover of tours to Southeast Asian countries, said local tour operators after a recent road show abroad. Promoting Vietnam as an independent destination has started for two to three years, with groups of tourists from France, Germany and the [...]

Expert downgrades 2012 economic outlook Posted: 25 Nov 2012 08:37 PM PST Viet Nam ‘s economic growth rate in 2012 is forecast at 5.2 per cent. It is the second adjustment from the previous projections of 5.5 per cent and 6.5 per cent, and is due to the slowing down of the country’s socio-economic performance in the first 10 months of 2012. Nguyen Thi Tue Anh, head [...]

Exports to U.S. forecast at 20 billion USD Posted: 25 Nov 2012 08:36 PM PST Local authorities and companies expect the target of 20 billion USD in exports to the United States is achievable this year. This expectation is based o­n the performance of the nation's export sector in January-September. Despite the current economic slump, Vietnam's exports to the U.S. in the first three quarters totaled 14.32 billion USD, a [...]

Eurozone crisis likely to impact nation’s exports Posted: 25 Nov 2012 08:35 PM PST Exporting to the EU market is predicted to be harder next year and growth will reduce to o­nly 10% against this year’s 20% estimation, said Dang Hoang Hai, director of the Ministry of Industry and Trade’s European Market Department. Hai even warned that domestic exporters would have to make every effort just to reach 10%. [...]

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