The Business Times: Vietnam’s new finance minister in the hot seat

---

• Vietnam’s new finance minister in the hot seat
• Bad debt settlement may take a decade, says report
• VAFI calls for tax on trading of gold bars
• Vietnam dreams the software dream
• Fuel traders petition ministry for another petrol price hike
• Huge steel project puts Quang Ngai into dilemma
• Local steelmakers call for action on anti dumping
• Transport projects thirsty for capital
• Vietnam makes major FDI gains
• Exports to Germany hit US$1.6 bln

Vietnam’s new finance minister in the hot seat Posted: 31 May 2013 10:05 PM PDT Keeping state budget collection unchanged amidst the economic slowdown and reducing overspending are the biggest challenges facing newly-appointed Finance Minister Dinh Tien Dung, economists say. The parliament last Friday approved the appointment of Dinh Tien Dung, 52, to replace Vuong Dinh Hue, who has been assigned to head the Economic Commission of the Communist Party [...]

Bad debt settlement may take a decade, says report Posted: 31 May 2013 10:05 PM PDT t may take Vietnam a decade to resolve the bad debt issue that is crippling the banking system, says an economic report. "It will take 7 to 10 years to clear bad debt and the process will depend on the bad debt volume and the complexity of the matter," says the report done by the [...]

VAFI calls for tax on trading of gold bars Posted: 31 May 2013 10:04 PM PDT HCM CITY (VNS)— The Viet Nam Association of Financial Investors has called for a 10 per cent value added tax on gold bullion trading to prevent the 'goldisation’ of the economy, which refers to people’s propensity to use gold instead of money. In a report in the Viet Nam Financial Times on Monday the VAFI [...]

Vietnam dreams the software dream Posted: 31 May 2013 10:00 PM PDT Vietnam should not try to compete with other countries in the hardware development. It should gather strength to make its dream of developing the software industry realistic. Part 1: Vietnam not a strong rival in hardware industry The software industry now can make up 20 percent of the total turnover of the information technology, while [...]

Fuel traders petition ministry for another petrol price hike Posted: 31 May 2013 10:00 PM PDT HA NOI (VNS)— Domestic petroleum wholesalers have lobbied the Finance Ministry to approve an increase in retail prices, claiming they have taken losses despite the recent falls in the world fuel price. The proposal was made right after the ministry approved to cut fuel tariffs from 19 to 18 per cent and the world oil [...]

Huge steel project puts Quang Ngai into dilemma Posted: 31 May 2013 10:00 PM PDT The mammoth $4.5 billion steel project, which was considered the pride and hope of Quang Ngai province, has turned out to be a big disappointment as it has not taken any move forward so far. The Quang Nam provincial authorities have released the decisions to revoke the licenses granted before to 12 investment projects because [...]

Local steelmakers call for action on anti dumping Posted: 31 May 2013 10:00 PM PDT Two local steelmakers have filed a petition with the Vietnam Competition Authority (VCA) under the Ministry of Industry and Trade (MoIT) saying imported cold-rolled stainless steel is being dumped on the local market. The petition by Posco VST Co Ltd and Hoa Binh Inox Joint Stock Company called for anti-dumping measures against cold-rolled stained steel [...]

Transport projects thirsty for capital Posted: 31 May 2013 09:57 PM PDT The state budget is not big enough to provide capital to all transport projects. Meanwhile, the idle capital in the society still has not been mobilized for the transport infrastructure development. The Highway No. 14 project, implemented under the mode of BOT (build, transfer, operation) still has not been fulfilled after two years of implementation. [...]

Vietnam makes major FDI gains Posted: 31 May 2013 09:44 PM PDT Viet Nam witnessed a surge in newly registered and additional FDI in the first five months of this year. Totalling US$8.51 billion, the amount was an increase of 8.9 per cent over that of the same period last year. The country licensed 398 foreign-invested projects with newly-registered capital of more than $5 billion, and permitted [...]

Exports to Germany hit US$1.6 bln Posted: 31 May 2013 09:42 PM PDT Vietnam raked in US$1.6 billion from exports to Germany in the first four months of this year, a year-on-year increase of 24.8 percent. In April alone, Vietnamese exports to this EU member state rose 50 percent to US$421 million. Major exports are garments and textiles, footwear, cashew nuts, rubber, and tea. Germany has been Vietnam's [...]

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