The Business Times: Firms selling debts to VAMC can still borrow bank loans

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• Firms selling debts to VAMC can still borrow bank loans
• Vinacomin clarifies tax confusion
• Dong Nai set to revoke 39 project licences
• Telcos to be licensed to do broadcasting and transmission
• Constipated credit flows stunt enterprises
• Nghe An inaugurates its first five-star hotel
• Bank scotches currency rumours
• Officials off to Thailand to boost tourism
• Solutions to stabilise petrol prices go nowhere
• Measures to help businesses through crunch time

Firms selling debts to VAMC can still borrow bank loans Posted: 20 May 2013 11:17 PM PDT Local firms that sell bad debts to the to-be-established national asset management company (VAMC) can still borrow funds from commercial banks. The plan to set up VAMC and a decree on its organizational structure and activities will be approved in May, the Banking Times reported, citing its private source from the central bank. Therefore, VAMC [...]

Vinacomin clarifies tax confusion Posted: 20 May 2013 11:13 PM PDT HA NOI (VNS) — The Viet Nam National Coal-Mineral Industries Holding Corp (Vinacomin) has clarified a statement on the export of aluminum oxide (alumina). It has said that a zero tariff would apply, but that it did not extend to the export of aluminum ore, for which tariffs of 15-40 per cent were applicable. The [...]

Dong Nai set to revoke 39 project licences Posted: 20 May 2013 11:12 PM PDT The Dong Nai Department of Planning and Investment has asked the provincial authorities to revoke the licence of 39 projects worth US$2.195 billion because they have been delayed for too long. Four of these are FDI projects. The department said the province has issued a large number of licences, but only 30-40 per cent of [...]

Telcos to be licensed to do broadcasting and transmission Posted: 20 May 2013 11:10 PM PDT  The State has decided to form up a competitive broadcasting and transmission market, considering allowing more capable telecom groups to provide the services. Under the national program on digitalizing the broadcasting and transmission by 2020, televisions would share the same infrastructure system. Television stations would focus on producing TV programs, while the transmission would be [...]

Constipated credit flows stunt enterprises Posted: 20 May 2013 11:10 PM PDT HA NOI (VNS)— Improving credit flows between banks and enterprises was important at a time when bad debts remained uncleared and businesses were struggling, a seminar in Ha Noi heard yesterday. Economist Tran Dinh Thien said that first-quarter domestic economic indices showed uncertain prospects for economic recovery this year. Two factors decisive for recovering growth [...]

Nghe An inaugurates its first five-star hotel Posted: 20 May 2013 11:07 PM PDT The Muong Thanh Hotel Chain inaugurated the first five-star hotel in Vinh city, central Nghe An province, on May 19 as a gift to President Ho Chi Minh's homeland on the 123rd anniversary of his birth. he 135 metre tall Muong Thanh Song Lam Hotel comprises 33 storeys and one basement with 425 five-star international [...]

Bank scotches currency rumours Posted: 20 May 2013 11:04 PM PDT The State Bank of Viet Nam denied speculation last week that it was preparing to adjust the exchange rate. The clarification was made after many banks reported a significant rise in demand for US dollars following the rumour, which pushed up the value of the dollar against the Vietnamese dong. At Vietcombank, the dollar was [...]

Officials off to Thailand to boost tourism Posted: 20 May 2013 11:02 PM PDT CA MAU (VNS)— Twenty-five Thai and Vietnamese officials headed by the Royal Consul General in HCM City visited southern Viet Nam yesterday on their way to Bangkok to promote tourism activities. Accompanied by Vietnamese and Thai media, the officials aim to promote the sustainability of tourism in the ASEAN Economic Community through 2015. The Thai [...]

Solutions to stabilise petrol prices go nowhere Posted: 20 May 2013 11:00 PM PDT Officials and economists discussed possible adjustment to the petrol price stabilisation fund at the meeting held by the Vietnam Petroleum Association on May 17. Three plans were proposed to calculate retail prices include changing the retail prices in accordance with world prices, setting a retail price based on average world prices during a 30 days [...]

Measures to help businesses through crunch time Posted: 20 May 2013 10:55 PM PDT Businesses regard value added tax (VAT) reductions as a practical measure to help them through a difficult time. Despite the Government's stimulus packages in 2012, many are not yet back on track in the wake of the global economic downturn. So they require further assistance from the Government's incentive policies. Phu Giang Packaging Company General [...]

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