The Business Times: Vietnam’s forex reserves estimated at $30bln, prime minister says

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• Vietnam’s forex reserves estimated at $30bln, prime minister says
• Tax incentives for VAMC agreed
• Central bank net injects vnd425bln via OMO in week ending may 10
• Retailers lose ground against foreign rivals
• Interbank trading dong +57%, dollar +126% in week ending apr 26
• Vietnam opens doors to Uruguay beef imports
• Viet Nam to gain from trade flow shift
• EU drops ban on VN fruit & veg
• Trade ties with Italy to increase
• Vietnam to boost ties with Russia, Belarus

Vietnam’s forex reserves estimated at $30bln, prime minister says Posted: 12 May 2013 09:59 PM PDT Vietnam's foreign currency reserve is estimated to have increased to $30 billion at the beginning of this year from $20 billion a year back, local media reported, quoting Prime Minister, as saying. The volume is sufficient to cover 12 weeks of imports, the PM said. Earlier, the National Finance Supervisory Commission (NFSC) estimated that the [...]

Tax incentives for VAMC agreed Posted: 12 May 2013 09:59 PM PDT The National Assembly's finance-budget committee agreed on the draft regulations to give tax incentives for the to-be-established national asset management company (VAMC), the local newswire VnEconomy.vn reported. Accordingly, collaterals of debts purchased and sold by VAMC would not be subject to value added taxes. Besides, VAMC would not have to pay corporate taxes. The finance-budget [...]

Central bank net injects vnd425bln via OMO in week ending may 10 Posted: 12 May 2013 09:57 PM PDT The State Bank of Vietnam (SBV) net injected VND452 billion via open market operation (OMO) in the week ending May 10, the local newswire NDHMoney.vn reported, citing data compiled by SSI Research. In details, the SBV pumped VND2,286 billion via OMO and withdrew VND1,834 billion in the previous week. The monetary authority net withdrew VND883 [...]

Retailers lose ground against foreign rivals Posted: 12 May 2013 09:54 PM PDT In July 2011 E-Mart, South Korea’s top discount store chain, signed an agreement with Viet Nam’s U&I Investment Corporation to form a distribution joint venture in the country. E-Mart Vietnam was expected to be capitalised at US$80 million, with 80 per cent brought in by E-Mart and the rest by U&I. The JV was expected [...]

Interbank trading dong +57%, dollar +126% in week ending apr 26 Posted: 12 May 2013 09:50 PM PDT The total interbank trading value of the dong soared 57% to VND110.814 trillion in the week ending Apr 26 from VND70.548 trillion a week earlier while that of the dollar doubled to VND76.619 trillion from VND33.89 trillion. The total interbank trading value of the dong soared 57% to VND110.814 trillion in the week ending Apr [...]

Vietnam opens doors to Uruguay beef imports Posted: 12 May 2013 09:48 PM PDT Vietnam has opened its market to beef and lamb products imported from 12 processing plants in Uruguay, according to newspapers in the South American country. Uruguayan representatives said that their country has received requests from Vietnam for more information about other processors and it hopes more of them will also be allowed to export beef [...]

Viet Nam to gain from trade flow shift Posted: 12 May 2013 09:48 PM PDT Noel Quinn, HSBC Group General Manager and Regional Head of Commercial Banking Asia Pacific recently had a visit to Viet Nam, one of HSBC’s important markets. He shared his knowledge about opportunities in other markets that can be tapped by businesses in Viet Nam with Viet Nam News in an exclusive interview. What do you [...]

EU drops ban on VN fruit & veg Posted: 12 May 2013 09:15 PM PDT HA NOI— The European Union will lift a 12-month ban on the export of five types of fresh fruit and vegetables from Viet Nam. The ban will be lifted on June 30. One year ago, Viet Nam stopped issuing quarantine certificates for goods sent to the EU because the produce failed to meet the stringent [...]

Trade ties with Italy to increase Posted: 12 May 2013 07:18 PM PDT Trade ties with Italy have received a boost. The "Vietnam economy forum in Emilia Romagna" was held by Chamber of Commerce and Industry of Italy in Vietnam (ICHAM), in collaboration with the Vietnam embassy in Italy, Italian Ministry of Foreign Affairs, Ministry of Economic Development, UNIDO and the Unioncamere Emilia Romagna, in Italy and on [...]

Vietnam to boost ties with Russia, Belarus Posted: 12 May 2013 07:18 PM PDT PM Nguyen Tan Dung will pay official visits to the Federation of Russia and the Republic of Belarus on May 12-15 and on May 15-17 respectively to promote cooperation with the two countries. The visits are made at the invitations of his Russian counterpart D. Medvedev and Belarusian counterpart M. Myasnikovich. The PM's visit to [...]

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