Vietnam Business News

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• Canada to help Vietnam reform banking system
• Mar 14: Vietnam central bank keeps Dollar exchange at VND20,828
• Measures to stabilize gold market
• The paradox of Vietnamese coffee
• Vietnam Petroleum Association makes its debut
• Enterprises agree to first BPO partnership
• Real estate companies show highest growth rate in Vietnam
• Vietnam central bank issues new circular on gold bar trading on local market
• New credit limits ‘are likely’
• Tight loans hinder “Tra” processors

Canada to help Vietnam reform banking system Posted: 13 Mar 2013 07:38 PM PDT Canada will help Vietnam modernize and strengthen its banking system and financial regulations, said Canadian Foreign Minister John Baird on his visit to the country on March 12. Baird said Canada wants to intensify the two countries' relations, boost employment growth, bilateral investment and trade cooperation. Canada 's assistance to Vietnam is through the Banking [...]

Mar 14: Vietnam central bank keeps Dollar exchange at VND20,828 Posted: 13 Mar 2013 07:38 PM PDT Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND20,828 on Thursday, unchanged since Dec, 2012. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036. Dollar Price Quote for Mar 14, 2013 Bank [...]

Measures to stabilize gold market Posted: 13 Mar 2013 07:34 PM PDT The State Bank of Viet Nam (SBV) has officially been allowed to trade gold bars in efforts to stabilize the domestic gold market and to stock gold bullion for the State foreign exchange reserve. Prime Minister Nguyen Tan Dung's Decision 16/2013/QD-TTg states that the Central Bank Governor will be in charge of deciding when it [...]

The paradox of Vietnamese coffee Posted: 13 Mar 2013 07:30 PM PDT When selling a kilo of coffee beans, Vietnam earns two dollars, which is equal to the price of a cup of coffee sold in foreign countries. Meanwhile, 50 cups of coffee can be created from the one kilo of coffee beans. Big exports can bring modest income The figures show that coffee growers can receive [...]

Vietnam Petroleum Association makes its debut Posted: 13 Mar 2013 07:28 PM PDT Phan The Rue has been elected as the President of the Vietnam Petroleum Association (VINPA), which made its debut in Hanoi on March 13. According to the association's regulations, VINPA will serve as a link for its members to study, make recommendations on petro-related policies, and disseminate information and consumer right. President Rue said that [...]

Enterprises agree to first BPO partnership Posted: 13 Mar 2013 03:57 AM PDT Vietnam FPT Software and Agrex of Japan signed a memorandum of understanding on March 12 to establish the first joint venture of BPO (Business Process Outsourcing) in Southeast Asia. The venture, to be known as F-Agrex, is jointly invested by FPT Software, a subsidiary of the software giant FPT Corporation (FPT) and Agrex of Japan's [...]

Real estate companies show highest growth rate in Vietnam Posted: 13 Mar 2013 03:51 AM PDT According to the Vietnam FAST 500 report for 2012, among the top 500 companies showing the highest growth rate in Vietnam are the Hoa Phat Group of companies, the Intimex Nha Trang Import-Export Coffee Joint Stock Company and Thanh Thanh Dat Company. All companies on the Vietnam FAST 500 list showed an average growth rate [...]

Vietnam central bank issues new circular on gold bar trading on local market Posted: 13 Mar 2013 03:41 AM PDT The State Bank of Vietnam (SBV) on March 12 issued Circular No. 06/2013/TT-NHNN, providing guidance for bullion trading on the local market of the central bank. Accordingly, licensed banks and firms seeking to trade bullion with the central bank shall file registration documents to set up trading relations. The central bank will inform qualified credit [...]

New credit limits ‘are likely’ Posted: 13 Mar 2013 03:27 AM PDT HA NOI — The State Bank of Viet Nam (SBV) is likely to continue assigning different credit growth limits to local credit institutions this year, according to a report in Thoi Bao Ngan Hang (Banking Times). SBV would classify local credit institutions in more groups than last year, said the report, explaining that the move [...]

Tight loans hinder “Tra” processors Posted: 13 Mar 2013 03:17 AM PDT Tra processing factories in the Mekong Delta region are running out of fish because many farmers have empty ponds due to lack of money. According to the Ministry of Agriculture and Rural Development (MARD), loans are difficult to obtain for both fish breeders and processors. The problem was raised in a ministerial report after a [...]

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