Vietnam Business News

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• Foreign enterprises hold sway over animal feed market
• Rice exports hit 906,173 tonnes
• Vietnam-Ukraine trade up 4.5 pct
• VASEP demands fish import tax recalculations
• Mongolia, Vietnam boost economic ties
• Japan businesses seek opportunities in Ba Ria-Vung Tau
• SBV tightens control over weak banks
• Ailing banks forced to merge
• HCMC: Bad debts decline to 5%
• Land price evaluation needs support

Foreign enterprises hold sway over animal feed market Posted: 18 Mar 2013 06:45 PM PDT The sharp poultry egg price increases in early 2013 has caused a headache to the Ministry of Agriculture and Rural Development (MARD). If the livestock product and animal feed markets continue being controlled by foreign firms, more "price fever attacks" would occur. Businessmen believe that pushing the poultry egg prices up in early 2013 was [...]

Rice exports hit 906,173 tonnes Posted: 18 Mar 2013 06:45 PM PDT As of March 14, Vietnam has exported 906,173 tonnes of rice, earning US$411 million, according to the Vietnam Food Association (VFA). The price of dried paddy rice in the Mekong Delta region is currently hovering around VND5,150-5,250 per kilo, with long grain rice being sold at VND5,350-5,450 per kilo. Unhusked five-percent broken rice is selling [...]

Vietnam-Ukraine trade up 4.5 pct Posted: 18 Mar 2013 06:44 PM PDT The import-export turnover between Vietnam and Ukraine reached US$313 million in 2012, increasing by 4.5 percent compared to 2011, according to the Vietnam General Department of Customs. Vietnam's export earnings hit US$221 million, up 13.6 percent. Major exports included seafood, garments, pepper, footwear, cashew nuts and rice, which accounted for 30 percent of the country's [...]

VASEP demands fish import tax recalculations Posted: 18 Mar 2013 06:39 PM PDT The Vietnam Association of Seafood Exporters and Processors (VASEP) has opposed the US Department of Commerce's new calculations of tax rates imposed on Vietnamese Tra fish imported to the US. In its recent annual administrative review, the US department chose Indonesia as a benchmark country to calculate anti-dumping margins on Vietnam's frozen fish fillet exports [...]

Mongolia, Vietnam boost economic ties Posted: 18 Mar 2013 06:38 PM PDT Vietnam and Mongolia will expand bilateral cooperation in all areas, especially economics, trade and science-technology to meet their national interests. The agreement was reached at the 15th session of the Vietnam-Mongolia Inter-governmental Committee for Economic, Commercial, and Scientific and Technological Cooperation in Hanoi on March 18. Both sides showed their keen interest in agricultural cooperation, in [...]

Japan businesses seek opportunities in Ba Ria-Vung Tau Posted: 18 Mar 2013 06:35 PM PDT Businesses from Japanese city of Kobe made a fact-finding tour of Ba Ria-Vung Tau province on March 18 to sound out opportunities for investment cooperation. They comprise companies specialising in seaports, forwarding services, shipbuilding, fish farming and processing, automobile manufacturing, electronics-telecommunications, information technology, and auditing. At a working session with local authorities, Ho Van Nien, [...]

SBV tightens control over weak banks Posted: 18 Mar 2013 06:37 AM PDT The State Bank of Vietnam (SBV) is planning to force incompetent banks to accept outside “special control” in a push toward restructuring and mergers and acquisitions. Circular 7, issued by the SBV, will take effect from April 27, and will require banks deemed to be weak to accept direct control by SBV. Such banks will [...]

Ailing banks forced to merge Posted: 18 Mar 2013 06:37 AM PDT The central bank issued a circular on Thursday making clear that it will force banks under special scrutiny to either revise up chartered capital or merge with others to secure healthy operations. According to Circular No. 07, fresh capital injections will ensure banks' capital is not lower than their legal capital while other safety criteria [...]

HCMC: Bad debts decline to 5% Posted: 18 Mar 2013 06:37 AM PDT Bad debts at banks in Ho Chi Minh City have decreased to 5% of total outstanding credits, the Banking Times reported, quoting Nguyen Hoang Minh, deputy director of the municipal central bank, as saying. Banks in the city aim to cut bad debt ratio to 4% by the end of this year. Credit growth of [...]

Land price evaluation needs support Posted: 18 Mar 2013 06:31 AM PDT Consultancy agencies should help determine compensation amounts for land, said Vice Chairman of the Ha Noi People’s Committee Vu Hong Khanh. He added that this would speed up land clearance and make the process more transparent. These price evaluations must also be supervised by the Department of Finance, said Khanh. He asked the construction department [...]

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