Friday, March 29, 2013

Vietnam Business News

Vietnam Business News

Banks don’t want to sell bad debts?

Posted: 28 Mar 2013 03:27 AM PDT

A lot of banks would try to conceal their bad debt situation and would not sell the bad debts to the VAMC, a company to be set up by the State to help banks escape from unrecovered debts. Under the draft decree on the operation of VAMC, the Vietnam Asset Management Company, VAMC would buy [...]

March 28: Vietnam central bank sets dollar unchanged at vnd20,828; black market rates fall further

Posted: 28 Mar 2013 03:26 AM PDT

The State Bank of Vietnam, the country's central bank today set the exchange rate for the U.S. dollar at VND20,828, unchanged for 14 months, banks' rates were firm while free market rates slid. Banks are allowed to trade dollar at +/-1% from central bank quote and the ceiling price for dollar is currently at VND21,036. [...]

Lending rates for 83% ‘old’ loans cut to 15%: source

Posted: 28 Mar 2013 03:26 AM PDT

Lending interest rates for 83% of 'old' loans have been reduced to 15% per annum, said Nguyen Hoang Minh, vice director of the central bank's branch in Ho Chi Minh City, local media reported. The remaining 17% loans were for real estate, securities and consumption, Minh added. Earlier, the SBV governor asked credit institutions to [...]

Public announcement of location of social housing projects

Posted: 28 Mar 2013 03:21 AM PDT

Le Hoang Quan, chairman of the People's Committee in Ho Chi Minh City, on March 26 instructed the Department of Construction and the HOREA to publicly announce the location of 25 social housing projects that have been approved by City authorities. Le Hoang Quan, chairman of the People's Committee in Ho Chi Minh City, on [...]

March 28: Vietnam stocks fall, HNX down third day

Posted: 28 Mar 2013 03:19 AM PDT

Vietnamese stocks ended lower today with rising liquidity, market sentiment was weak. The benchmark VN Index lost 0.59 point or 0.12% to 490.67. Volume rose 6.8% to 45.82 million shares worth of VND896.86 billion. Put through trading contributed 6.3 million shares worth of VND241.52 billion. We saw 1.9 million HAG shares changed hands at VND25,900 each and 1 [...]

March 28: UPCoM-Index bucks rrend to close higher

Posted: 28 Mar 2013 03:19 AM PDT

The UPCoM-Index, the measure of 135 unlisted public companies ended higher today. The index added 0.05 point or 0.12% to 42. The market volume was 177,899 shares worth of VND1.12 billion. Market breadth was positive with 13 gainers, 11 losers, 5 unmoved and the rest untraded. BTG was the biggest gainer, climbing 24% to finish [...]

March 28: Foreigners continue to net buy on both bourses

Posted: 28 Mar 2013 03:19 AM PDT

Foreigners were net buyers of Vietnamese shares on both the Hochiminh Stock Exchange and on the HNX, level of participation fell. These players net bought VND71.11 billion worth of shares on HOSE after buying 4.27 million shares for VND141.15 billion and selling 2.18 million units for VND69.04 billion, accounting for 15.74% buying value and 7.7% [...]

Vietnam central bank denies information on government’s vnd30tln credit package to mekong delta

Posted: 28 Mar 2013 03:14 AM PDT

The State Bank of Vietnam (SBV) has recently denied the information about a credit package worth VND30 trillion of the government for the Mekong Delta. 'Up to this point, there is no credit package specifically for any subjects or areas', head of the central bank's credit department Nguyen Viet Manh said, thereby denying information that [...]

Government proposes PPP reciprocal funding

Posted: 28 Mar 2013 03:12 AM PDT

Public-Private Partnership investment forms will be encouraged with a VND20 trillion (USD959 million) fund as proposed incentives for the projects on March 27. The Ministry of Planning and Investment (MPI) proposed to use the money as reciprocal capital for PPPprojects at a review conference after 25 years of attracting foreign direct investment to Vietnam. The ministry [...]

Vietnam industrial production index rises 4.9% in Q1/2013: GSO

Posted: 28 Mar 2013 03:09 AM PDT

Vietnam's Index of Industrial Production (Index of Industrial Production (IIP) rose 4.9% on year in the first quarter of this year, lower than an increase of 5.9% in Q1/2012, the General Statistics Office (GSO)'s data showed. In March, the index rose 31.9% on month and 5.6% on year. The IIP of the manufacturing and processing [...]
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