The Business Times: Petroleum project turns on the charm

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• Petroleum project turns on the charm
• Banking sector needs to embrace IT innovation
• Asset management body to be set up in bid to tackle debt
• Japan Group to invest more in Vietnam
• Vietnam central bank to inspect 18 local banks in 2013
• Vietnam total lending grows 2.11% by end-apr 2013, c.bank says
• Savills triumph at Asia Pacific Property Awards
• Vietnam considers hiring foreigners to manage airports
• New stimulus plan buoys stock market
• SBV: VND30 trillion for housing assistance loans

Petroleum project turns on the charm Posted: 15 May 2013 09:56 PM PDT A mammoth Phu Yen province petroleum project is sourcing more alluring incentives to bolster project efficiency. Phu Yen Provincial People's Committee is proposing an exemption on export duty for Vung Ro Petroleum's petrochemical and sulfur-based products as incentives currently apply to another mammoth oil refinery and petrochemical complex in central Ha Tinh province, the Nghi Son Complex. [...]

Banking sector needs to embrace IT innovation Posted: 15 May 2013 09:53 PM PDT HA NOI (VNS)— IT was becoming more and more important to the financial security and operational efficiency of banking services, State Bank of Viet Nam (SBV) Governor Nguyen Van Binh said at a banking technology conference in Ha Noi yesterday. Many areas including payments, lending, e-banking and risk management had been equipped with new and [...]

Asset management body to be set up in bid to tackle debt Posted: 15 May 2013 09:53 PM PDT HA NOI (VNS)— The Viet Nam Asset Management Company (VAMC) will be established later this month, said member of the National Financial and Monetary Policy Advisory Council Le Xuan Nghia. According to Nghia, VAMC will be under the management of the central bank rather than the finance ministry as funds used to handle bad debts [...]

Japan Group to invest more in Vietnam Posted: 15 May 2013 09:50 PM PDT Japan's Lixil Group wants to expand its American Standard sanitary ware factory in the southern province of Binh Duong. The Group Chairman Toshimasa Iue was speaking during his recent visit to the province to seek investment opportunities in the locality. Its original factory with initial invested capital of US$16.5 million was put into operation in [...]

Vietnam central bank to inspect 18 local banks in 2013 Posted: 15 May 2013 09:49 PM PDT The State Bank of Vietnam (SBV) plans to carry out inspection at 18 local lenders and 7 foreign banks in 2013, the local newswire Cafef.vn reported. In the first quarter of the year, the central bank conducted 301 inspections, of which there were 145 scheduled inspections, 39 unscheduled inspections and 117 examinations. Source StoxPlus.

Vietnam total lending grows 2.11% by end-apr 2013, c.bank says Posted: 15 May 2013 09:48 PM PDT Total outstanding loans of commercial banks in Vietnam by the end of April this year have risen by 2.11% from last December, the government e-portal Chinhphu.vn reported yesterday. Of the sum, dong-denominated loans climbed 4.15% while foreign currency ones declined by 7.2% from late 2012. Lending to agriculture and rural areas rose 3.1% during the [...]

Savills triumph at Asia Pacific Property Awards Posted: 15 May 2013 09:02 PM PDT Savills Vietnam has won four impressive accolades at the annual Asia Pacific Property Awards 2013 held recently in Malaysia. The four awards include the Best Real Estate Agency Vietnam, the Best Property Consultancy Vietnam, the Best Real Estate for Rent Agency Vietnam and the Best Real Estate Website Vietnam. Neil MacGregor, Managing Director of Savills [...]

Vietnam considers hiring foreigners to manage airports Posted: 15 May 2013 08:58 PM PDT The Civil Aviation Authority of Vietnam (CAAV) has proposed the Ministry of Transport to classify the airports into two groups for better calling for investment, and allow foreign investors to manage the airports. CAAV's Head Lai Xuan Thanh said if the proposal gets the approval, this would help attract potential international investors to the Vietnam's [...]

New stimulus plan buoys stock market Posted: 15 May 2013 07:24 PM PDT HA NOI — While the stock market in general reacted positively to a new VND30 trillion (US$1.4 billion) real estate support package, shares of companies in the sector saw little change. The package was designed to go to social housing and low-cost projects, not listed property developers. In a circular released yesterday to go into [...]

SBV: VND30 trillion for housing assistance loans Posted: 15 May 2013 07:20 PM PDT The State Bank of Vietnam (SBV) has announced it is making VND30 trillion ($1.44 trillion) available to five commercial banks to offer soft loans to home buyers and property developers in an attempt to stimulate the property market and resolve bad debts. According to a posting on the Government website, the new loan programs go [...]

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