Vietnam Business News

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• Vietnam trade surplus records high of $900Mln in Feb 2013:GSO
• Hanoi imports fall 10% on year in Feb
• Hanoi retail sales and services revenues falls 2.3% mom in Feb
• Vietnam premier asks SBV to promptly complete plan for bad debts settlement
• Rumours weigh on stock market
• Tax policies offer enterprises helping hand
• Mekong conference to discuss strategy for winter-spring rice crop
• Trade groups found lacking
• SCIC establishes separate investment arm
• Bank swings to profit after adjusting earnings data

Vietnam trade surplus records high of $900Mln in Feb 2013:GSO Posted: 24 Feb 2013 09:20 PM PST Vietnam’s trade surplus rose to $900mil in the adjacent month of this year [Feb 2013], VND124 million higher than that of the previous month, the local news provider Gafin.vn reported, citing figures form the General Statistics Office (GSO). This month trade surplus rose comparing with Jan despite total import-export value slumped by 36% on month, [...]

Hanoi imports fall 10% on year in Feb Posted: 24 Feb 2013 08:18 PM PST Imports of the Hanoi capital fell by 9.7% on year and decreased by 2.9% on month to $1.638 billion in the adjacent month of this Lunar New Year, the local news provider Gafin.vn reported. Hanoi's Feb imports have extended the figures to $3.326 billion import value in the first 2 months of this year, up [...]

Hanoi retail sales and services revenues falls 2.3% mom in Feb Posted: 24 Feb 2013 08:15 PM PST Vietnam's total retail sales and service revenues are estimated to have eased by 2.3% on month but increased 13.4% on year to VND125.245 trillion ($5.982 billion) in the adjacent month of the Lunar New Year, the local newswire Gafin.vn reported. In which, retail sales revenues reached VND29.582 trillion ($1.414 billion), increasing 1.3% on month and [...]

Vietnam premier asks SBV to promptly complete plan for bad debts settlement Posted: 24 Feb 2013 08:14 PM PST Vietnam's Prime Minister Nguyen Tan Dung asked the State Bank of Vietnam (SBV) to swiftly submit the plan for tackling bad loans of credit institutions for approval, the government portal Chinhphu.vn reported. The central bank was also asked to propose to the prime minister a plan for a debt asset management company to be implemented [...]

Rumours weigh on stock market Posted: 24 Feb 2013 08:10 PM PST Shares on the nation's two stock exchanges retreated last week on false rumours related to a devaluation of the dong, petrol prices increasing and that the Bank for Investment and Development (BIDV) chairman Tran Bac Ha had been arrested. As a consequence, more than US$1.6 billion in capitalisation evaporated from the stock market. For a [...]

Tax policies offer enterprises helping hand Posted: 24 Feb 2013 08:10 PM PST This year is expected to remain challenging for the domestic economy. Minister of Finance Vuong Dinh Hue spoke to the Vietnam News Agency about measures to assist enterprises and fulfill the nation's economic reform and development plans. What policies will the Ministry of  Finance carry out in 2013 to help enterprises deal with difficulties, besides [...]

Mekong conference to discuss strategy for winter-spring rice crop Posted: 24 Feb 2013 08:09 PM PST The Mekong Delta province of Dong Thap will host a conference on the purchase of paddy/rice from the current winter-spring crop for reserves. The conference, held at the office of Dong Thap People's Committee on next Wednesday, will also discuss rice export prices. The conference, which is to be chaired by Deputy PM Hoang Trung [...]

Trade groups found lacking Posted: 24 Feb 2013 08:09 PM PST Hampered by a lack of resources, Viet Nam's business associations are struggling to attract new members and come up with long-term plans for growth. Currently, the country has almost 400 business associations, including 28 at the national level and 50 at the provincial level, said Viet Nam Chamber of Commerce and Industry (VCCI) chairman Vu [...]

SCIC establishes separate investment arm Posted: 24 Feb 2013 08:09 PM PST The State Capital Investment Corp has established a new subsidiary – the SCIC Investment Co Ltd – with an aim to limit the State's exposure to investment risks. The company, capitalised at VND1 trillion (US$47.6 million), will take advantage of SCIC capital resources to invest in shares, bonds, acquisitions and investment projects.-VNS

Bank swings to profit after adjusting earnings data Posted: 24 Feb 2013 08:08 PM PST Sai Gon-Ha Noi Bank (SHB) announced revised earnings for 2012 yesterday that were shift from a loss of VND95 billion (US$4.5 million) to a net profit of VND27 billion ($1.28 million). Most of the data issued Friday remained the same as previously published. However, the net profit from other operations in the fourth quarter was [...]

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