Vietnam Business News

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• Vietnam banks’ 2012 business performance unveiled
• Vietnam banking sector reaps vnd28.6tln profit in 2012
• HCMC, Binh Duong province attract Japanese investors
• Dung Quat ez rakes in export revenue
• Color-coated steel sheets face anti-dumping case
• Property firms hit the wall
• Land management misconduct in Da Nang
• Vietnam needs more high-end hotels
• Vietnam public debt touches $70.6bln by jan 17: economist
• Vietnam tax collection reaches vnd607.8tln in 2012, up 12.3% yoy

Vietnam banks’ 2012 business performance unveiled Posted: 17 Jan 2013 11:59 PM PST According to a survey carried out by the Saigon Times Online, a number of local commercial banks have basically concluded data regarding their business performance in 2012. Credit institutions are expected to be classified into three different categories: 1) About one-fourth of banks reaped relatively high profits, achieving 50-80% of their plans; 2) The second [...]

Vietnam banking sector reaps vnd28.6tln profit in 2012 Posted: 17 Jan 2013 11:58 PM PST Total profits of the local banking system reached VND28.6 trillion last year, a plunge by nearly a half over the same period in 2011, the local newswire VnExpress.net reported, citing its private source from the State Bank of Vietnam (SBV). In a talk with the newswire, most JSC banks said that they still generated profits [...]

HCMC, Binh Duong province attract Japanese investors Posted: 17 Jan 2013 11:57 PM PST Japan has become the biggest foreign investor in Ho Chi Minh City with a total capital investment of more than US$2.7 billion in various projects. Mitsuhiro Mori, Chairman of the Japanese Business Association in HCMC, said apart from 600 Japanese businesses operating in the City, many more are keen to invest here. Japan also leads [...]

Dung Quat ez rakes in export revenue Posted: 17 Jan 2013 11:57 PM PST Dung Quat Economic Zone in central Quang Ngai province has earned 350 million USD from exports last year. The zone in 2012 granted certificates to six projects worth over 4.2 trillion VND (201 million USD) and approved the investment proposals for five others with a total registered capital of 44,5 trillion VND (2.1 billion USD). [...]

Color-coated steel sheets face anti-dumping case Posted: 17 Jan 2013 11:56 PM PST The Vietnam Steel Association (VSA) said on Tuesday the metal-plated and color-coated steel sheet association of Thailand late last year had issued the second warning The Vietnam Steel Association (VSA) said on Tuesday the metal-plated and color-coated steel sheet association of Thailand late last year had issued the second warning, saying that it would file [...]

Property firms hit the wall Posted: 17 Jan 2013 11:55 PM PST Nearly 18,000 real estate and construction companies faced losses, went bankrupt or closed last year because of the challenging economic situation in the country. Of this number, the Ministry of Construction said that nearly 15,300 companies faced losses. The number of companies that stopped operations or went bankrupt totalled more than 2,600, a year-on-year increase [...]

Land management misconduct in Da Nang Posted: 17 Jan 2013 11:55 PM PST Land management breaches by central Da Nang City authorities had caused a loss of VND3.4 trillion (US$161 million) for the State budget, the Government Inspectorate said yesterday. The inspectorate said a number of investment projects relating to land management and use in Da Nang from 2003 to 2011 had shown violations related to price or [...]

Vietnam needs more high-end hotels Posted: 17 Jan 2013 11:54 PM PST The current number of tourist accommodation facilities nationwide is only enough to serve 42.2 million local and foreign tourists this year, but Vietnam is still in need of more three- to five-star hotels to cater to the growing number of visitors. The current number of tourist accommodation facilities nationwide is only enough to serve 42.2 [...]

Vietnam public debt touches $70.6bln by jan 17: economist Posted: 17 Jan 2013 07:46 PM PST Vietnam's public debt is estimated at $70.6 billion by end of Jan 17, 2013, comparing with $ 67.6 billion in Sept 2012 and up 13% on year, according to the latest updated data of the Economist’s global debt clock. With this figure, Vietnam””s public debt is considered to be moderate both in absolute value, per [...]

Vietnam tax collection reaches vnd607.8tln in 2012, up 12.3% yoy Posted: 17 Jan 2013 07:45 PM PST Vietnam is estimated to have collected total of VND607.844 trillion ($29.14 billion) taxes in 2012, meeting 104.5% initial target and increasing 12.3% from 2011, the General Department of Taxation said. In which, collection from crude oil highly exceeded the target and posted the highest growth with VND140.107 trillion ($6.72 billion), meeting 161% plan and up [...]

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