Vietnam Business News

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• Scheme to set up national asset management company yet to be finished
• Vietnam central bank to restrict bank network expansion in urban areas
• Vietnam’s banks: tiger tamed
• High inflation looms large
• Poor investment into Hanoi’s hi-tech park
• Gas traders’ profits down strongly
• Japan’s ODA promotes economic growth in Vietnam
• Many FDI projects in Vietnam’s real estate sector
• ASEAN becomes third largest market of VN
• Banks see gold bar trading unprofitable

Scheme to set up national asset management company yet to be finished Posted: 31 Jan 2013 07:41 PM PST The State Bank of Vietnam (SBV) is currently completing the scheme to set up a national asset management company and the plan to tackle bad debts to report to the Politburo, the Saigon Times reported. Earlier, these two plans were expected to be reported to the Politburo in the first month of 2013. The central [...]

Vietnam central bank to restrict bank network expansion in urban areas Posted: 31 Jan 2013 07:39 PM PST The State Bank of Vietnam (SBV) said in its latest directive that it would restrict banks from expanding their network in urban areas. The State Bank of Vietnam (SBV) said in its latest directive that it would restrict banks from expanding their network in urban areas and only allow lenders with good governance, efficient operation [...]

Vietnam’s banks: tiger tamed Posted: 31 Jan 2013 07:39 PM PST The good times won't return until the country's stricken banks are dealt with The arrest of a former bank boss is just what many people in the rich world would like to see. In Vietnam it is becoming a regular occurrence. On January 23rd the government announced that it had arrested Pham Thanh Tan, until [...]

High inflation looms large Posted: 31 Jan 2013 07:35 PM PST Vietnam's higher inflation is forecast to warrant double-digit rates this year, which will challenge the Government's drive to stabilize the macro-economy. Dr. Nguyen Duc Thanh, director of the Vietnam Center for Economic and Policy Research under the Hanoi-based University of Economics and Business, raised the warning at a meeting to an annual economic report in [...]

Poor investment into Hanoi’s hi-tech park Posted: 31 Jan 2013 07:34 PM PST Hoa Lac Hi-tech Park in Hanoi has been operational for over a decade but it has only attracted 68 investment projects in that time and it is described as a 'slow investment attraction' by local experts. Pham Dai Duong, deputy director of Hoa Lac Hi-tech Park, said the park had licensed the projects covering a [...]

Gas traders’ profits down strongly Posted: 31 Jan 2013 07:34 PM PST Two gas trading firms have announced financial reports for the fourth quarter and all of last year, with their profits declining much from 2011. According to the report of CNG Vietnam Joint Stock Company, the firm's after-tax profit was over VND26.7 billion in last year's fourth quarter and over VND118.3 billion in the entire year, [...]

Japan’s ODA promotes economic growth in Vietnam Posted: 31 Jan 2013 07:33 PM PST The Japanese International Cooperation Agency (JICA) held a conference in Hanoi on January 30 to review Japan's official development assistance (ODA) to Vietnam over the last 20 years and its future orientations. Under these orientations, Japan will help Vietnam achieve its industrialisation goal by 2020. Japanese ODA will focus on promoting economic growth, increasing competitiveness, [...]

Many FDI projects in Vietnam’s real estate sector Posted: 31 Jan 2013 07:33 PM PST At the end of 2012, 389 Foreign Direct Investment (FDI) projects in real estate worth 49.8 billion USD were licensed, according to a report of the Ministry of Planning and Investment released. Thus, Foreign Direct Investment in the real estate sector accounts for about 23.32% of total FDI in Vietnam. Ho Chi Minh City attracted [...]

ASEAN becomes third largest market of VN Posted: 31 Jan 2013 07:32 PM PST In 2012, trade turnover between Viet Nam and ASEAN reached $17.08 billion, 25.7% increased over the previous year and accounted for 14.9% of the country's export. Accordingly, ASEAN has become Viet Nam's third largest market for Vietnamese exports, after the EU and the US. The increase was due to the higher export value of goods, [...]

Banks see gold bar trading unprofitable Posted: 31 Jan 2013 07:32 PM PST Local banks licensed for gold bar trading have yet to make gains from this business, with some even having incurred losses due to stringent trading regulations of the State Bank of Vietnam. Trinh Van Tuan, chairman of Orient Commercial Bank (OCB), said that gold bar transactions have been dreary in recent days, partly because OCB [...]

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