The Business Times: Vietnam SCB’s gold position -4 tons

---

• Vietnam SCB’s gold position -4 tons
• Both trade deficit and surplus cause big worries to Vietnamese
• High inventory levels pose challenges to cash flow
• Vietnam central bank to strengthen supervision & inspection at credit institutions
• Expert outlines three scenarios for resolving bad debts
• Public debts within the limit
• Supply chain services booming on Vietnam’s logistics market opening
• Steel-makers need iron resolve
• VN Post restructuring plan due
• Ministry tables mineral tax hike

Vietnam SCB’s gold position -4 tons Posted: 03 Jun 2013 11:23 PM PDT Saigon Commercial Joint Stock Bank (SCB) currently faces a negative gold position of negative 4 tons or around 100,000 taels while deadline for banks to close all gold accounts draws nearer, the local newswire Tinnhanhchungkhoan.vn reported. The number was 247,031 taels or 9.5 tons of gold as of late 2012. Banks must settle all gold [...]

Both trade deficit and surplus cause big worries to Vietnamese Posted: 03 Jun 2013 11:20 PM PDT Just within half a year, Vietnam's foreign trade has gone from one extreme to another. However, both the trade deficit and trade surplus cause worries. In late 2012, the Ministry of Industry and Trade's statement that Vietnam exported more than it imported animated Vietnamese people. Vietnam, once again obtain the trade surplus worth $780 million [...]

High inventory levels pose challenges to cash flow Posted: 03 Jun 2013 11:14 PM PDT High inventory levels are attributed to low credit growth and an increase in banks' bad debts. Many commercial banks have reduced their interest rates after the State Bank of Vietnam (SBV) decided to cut lending rates to a record low in more than three years to help local businesses iron out snags in their current [...]

Vietnam central bank to strengthen supervision & inspection at credit institutions Posted: 03 Jun 2013 11:11 PM PDT The State Bank of Vietnam (SBV) reiterated that the agency would strengthen its supervision and inspection at local credit institutions, the local newswire Gafin.vn reported. The central bank said it would continue to deploy the roadmap to restructure the whole banking system and drastically take measures to remove difficulties for businesses, spur the market and [...]

Expert outlines three scenarios for resolving bad debts Posted: 03 Jun 2013 11:11 PM PDT Le Xuan Nghia, former vice chairman of the National Finance Supervision Commission (NFSC), outlined three scenarios for settling non-performing loans of the banking system. (1) Businesses and commercial banks deal with bad loans themselves. Bad debts, therefore, may not be resolved in 5-7 years' time. The real estate market continues to freeze and lending is [...]

Public debts within the limit Posted: 03 Jun 2013 11:10 PM PDT The Government has affirmed that Vietnam's public debts are still within the limit. According to a report sent to National Assembly deputies on June 3, the Government has mobilized a total amount of lending capital worth approximately VND690,910 billion since the Law on Public Debt Management took effect in 2010. By December 31, 2012, Vietnam's [...]

Supply chain services booming on Vietnam’s logistics market opening Posted: 03 Jun 2013 06:43 PM PDT DHL Supply Chain (DSC) has announced its plan to invest $13 million in Vietnam to expand its business scale here in anticipation of the Vietnam's logistics market opening next year. The sum of money would be used to train the labor force, which would increase the number of workers to 2,200 by 2015, and to [...]

Steel-makers need iron resolve Posted: 03 Jun 2013 06:42 PM PDT Domestic steel-makers have asked the Vietnamese government to curb iron ore exports amid the scarcity concerns. Pham Chi Cuong, chairman of the Vietnam Steel Association (VSA), said domestic steel-makers were constantly threatened by the shortage of iron ore. Van Ba On, deputy general director of Vietnam's leading steel producer Vnsteel, said its total demand of [...]

VN Post restructuring plan due Posted: 03 Jun 2013 06:42 PM PDT The Ministry of Information and Communications (MIC) has urged Viet Nam Post and Telecommunication Group (VNPT) to complete its restructuring plan by the end of June. The plan was due to be submitted to the Government for final approval in September, it said. The ministry made it clear that the restructuring of VNPT must be [...]

Ministry tables mineral tax hike Posted: 03 Jun 2013 06:42 PM PDT The Finance Ministry is calling for comments on a proposal to raise the tax on mining iron ore, titanium, gold, copper and several other minerals by 3 to 10 percentage points. The proposed increase is intended to bring in an extra VND508.6 billion (US$24 million) a year in tax revenue. The ministry said the higher [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610