Vietnam Business News

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• Starbucks doesn’t see Trung Nguyen a rival
• Vietnam-Myanmar trade up 40 percent
• BIDV extended EUR50mln credit line from IIB
• Vietnamese businesses face hurdles in Eastern Europe
• VPbank officially raises charter capital to VND5.77tln
• Vietnam central bank issues VND10tln T-bills on feb 28
• Vietnam deposit growth +1.84%; M2 +3.31% as of feb 21: Source
• Interbank trading Dong +30%, Dollar -5% in week ending feb 23
• Vietnam weighs raising foreign investment limit for banks
• Curb on licences for titanium exploitation

Starbucks doesn’t see Trung Nguyen a rival Posted: 28 Feb 2013 11:51 PM PST While some businessmen call Dang Le Nguyen Vu, the owner of Trung Nguyen coffee brand a "Vietnamese pride" because he dares to "challenge the US Starbucks to a duel," others say Vu should prove his ability by his business results, not by boasting. The US Starbucks coffee chain officially joined the Vietnamese market on February [...]

Vietnam-Myanmar trade up 40 percent Posted: 28 Feb 2013 10:06 PM PST Two-way trade between Vietnam and Myanmar hit US$227 million in 2012, a year-on-year increase of 35.9 percent, according to the General Department of Customs. Vietnam enjoyed a trade surplus of more than US$8 million with Myanmar for the first time over the past decade, the department says. It always ran an annual trade deficit with [...]

BIDV extended EUR50mln credit line from IIB Posted: 28 Feb 2013 09:47 PM PST Bank for Investment and Development of Vietnam (BIDV) was extended a medium- and long-term credit line of EUR50 million from the International Investment Bank (IIB) to provide project and trade finance loans. Bank for Investment and Development of Vietnam (BIDV) signed an agreement late yesterday with the International Investment Bank (IIB), in which the latter [...]

Vietnamese businesses face hurdles in Eastern Europe Posted: 28 Feb 2013 09:00 PM PST Vietnamese businesses face numerous challenges in Eastern Europe in the face of its weak purchasing power and fierce international competition. They include runaway inflation, high unemployment rates, low GDP growth and devaluation of the euro that has resulted in low income sources. No doubt, this is a risk factor Vietnamese businesses operating there, said Dr. [...]

VPbank officially raises charter capital to VND5.77tln Posted: 28 Feb 2013 08:42 PM PST Vietnam Prosperity Commercial Joint Stock Bank (VPBank) officially raised its charter capital by VND720 billion to VND5.77 trillion, the central bank said in a post on its website. The unlisted lender used retained earnings and reserves to hike its charter capital, according to the plan passed by the Annual General Meeting (AGM) on Apr 24 [...]

Vietnam central bank issues VND10tln T-bills on feb 28 Posted: 28 Feb 2013 08:40 PM PST The State Bank of Vietnam (SBV) issued VND10 trillion worth of Treasury bills to withdraw liquidity from commercial banks yesterday [Feb 28], the local newswire NDHMoney.vn.vn reported, citing data compiled by SSI Research. In details, domestic lenders have bought VND5 trillion worth of 91-day T-bills at 6.25% p.a. and another VND5 trillion 182-day securities at [...]

Vietnam deposit growth +1.84%; M2 +3.31% as of feb 21: Source Posted: 28 Feb 2013 08:40 PM PST Total deposits at commercial banks in Vietnam as of February 21 this year rose 1.84% from the end of 2012 while the broadest measure of total money supply (M2) rose 3.31%, the local newswire Gafin.vn reported, citing the government's recent press release. According to the government, deposit rates and the foreign exchange market were basically [...]

Interbank trading Dong +30%, Dollar -5% in week ending feb 23 Posted: 28 Feb 2013 08:39 PM PST The total interbank trading value of the dong surged 30.3% to VND71.089 trillion in the week ending February 23 from VND54.551 trillion two weeks earlier while that of the dollar fell 4.8% to VND46.637 trillion from VND48.986 trillion, said the State Bank of Vietnam (SBV). Transactions in the interbank market were mostly for overnight and [...]

Vietnam weighs raising foreign investment limit for banks Posted: 28 Feb 2013 05:57 PM PST Vietnam is doing more to attract foreign investors to its troubled banking sector. The State Bank of Vietnam, the country's central bank, is preparing a draft regulation that aims to attract more foreign investment into local banks, according to a document posted on its website early this week. The central bank said it wants to [...]

Curb on licences for titanium exploitation Posted: 28 Feb 2013 05:54 PM PST BINH THUAN – The central province of Binh Thuan will stop granting investment certificates to new titanium ore exploitation projects outside specific areas, following the zoning plan for titanium extraction approved recently by the Prime Minister. Under the plan, enterprises in Binh Thuan will only exploit and process titanium in the Luong Son area of [...]

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