The Business Times: Vietnam’s economy ranks 42nd in the world

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• Vietnam’s economy ranks 42nd in the world
• Vietnam remains magnet for Singapore investors
• Incentives to key BOT highway projects approved
• How to settle bad debts?
• Finance gears oiled for Nghi Son Refinery
• Non-performing loans of SOEs accounted for 11.82% of total bad debts
• Vietnam three-year bond yield at two-month high on inflation
• Banks lukewarm to safe deposit box service
• Housing stimulus set to benefit all
• Saigon airport plaza completes first stage

Vietnam’s economy ranks 42nd in the world Posted: 17 Jul 2013 01:17 AM PDT With the gross domestic product (GDP) estimated from purchasing power parity (PPP) calculations equivalent to $322 billion, Vietnam’s economy ranks 6th in Southeast Asia, after Indonesia, Thailand, Malaysia, the Philippines and Singapore. According to the rankings announced last week by the World Bank, the U.S. remains the largest economy in the world with GDP last [...] The post Vietnam’s economy ranks 42nd in the world appeared first on Vietnam Business News.

Vietnam remains magnet for Singapore investors Posted: 17 Jul 2013 01:08 AM PDT Investors from Singapore continue to eye Vietnam as a potential target for logistics, port operations, industrial infrastructure, healthcare and hospitality, according to Ernst & Young. Singapore-based Max Loh, EY's managing partner for ASEAN, said Vietnam was still an attractive investment destination for Singapore investors although Myanmar was emerging as a new magnet for investors worldwide. [...] The post Vietnam remains magnet for Singapore investors appeared first on Vietnam Business News.

Incentives to key BOT highway projects approved Posted: 17 Jul 2013 01:07 AM PDT Construction of build-operate-transfer transport projects will be accelerated thanks to the Vietnamese government's approved incentives.     The prime minister just gave birth to specific incentives which were expected to bolster the implementation of National Highway 1 and National Highway 14 expansion projects under the build-operate-transfer (BOT) model. Accordingly, investors of these two important highway [...] The post Incentives to key BOT highway projects approved appeared first on Vietnam Business News.

How to settle bad debts? Posted: 17 Jul 2013 01:07 AM PDT Experts agree that settling bad debts in the banking system is the key to its restructuring, but it is still anyone's guess to find the best solutions. Le Xuan Nghia, Director of the Business Development Institute and member of the Government's Monetary Policy Consultancy Council, says the use of money sourced from the State budget, [...] The post How to settle bad debts? appeared first on Vietnam Business News.

Finance gears oiled for Nghi Son Refinery Posted: 17 Jul 2013 01:03 AM PDT Financial arrangements for $9 billion in capital to begin work on Vietnam's second oil refinery and petrochemical complex in central Thanh Hoa province have been agreed. According to Phung Dinh Thuc, chairman of the management board of state-run Vietnam Oil and Gas Group (PetroVietnam), foreign investors have concluded their capital investment preparations into the Nghi [...] The post Finance gears oiled for Nghi Son Refinery appeared first on Vietnam Business News.

Non-performing loans of SOEs accounted for 11.82% of total bad debts Posted: 17 Jul 2013 12:59 AM PDT A report by the National Financial Supervision Committee (NFSC) showed that NPLs of state owned enterprises accounted for 11.82% of total bad debts in the banking system and 5.05% of total loans to SOEs. The figures did not include Vinashin's debt and debts which were restructured  under the Decision 780 of the State Bank of Vietnam(accounting [...] The post Non-performing loans of SOEs accounted for 11.82% of total bad debts appeared first on Vietnam Business News.

Vietnam three-year bond yield at two-month high on inflation Posted: 17 Jul 2013 12:59 AM PDT Vietnam's government bonds fell, driving the three-year yield to the highest since May, on speculation inflation will quicken. The dong was steady. Consumer-price gains accelerated last month for the first time since January, rising 6.69 percent from a year earlier, official data show. They may increase 6.69 percent to 7.3 percent in July, Saigon Securities [...] The post Vietnam three-year bond yield at two-month high on inflation appeared first on Vietnam Business News.

Banks lukewarm to safe deposit box service Posted: 17 Jul 2013 12:59 AM PDT Not many banks in Vietnam provide safe deposit boxes for their clients to store valuable possessions because of the quite high investment costs and the low demand for this service. Nguyen Van Tuan, deputy general director of Vietcombank, said his bank decided not to offer safe deposit boxes since the profit from this service was [...] The post Banks lukewarm to safe deposit box service appeared first on Vietnam Business News.

Housing stimulus set to benefit all Posted: 16 Jul 2013 08:28 PM PDT The Government’s VND30 trillion (US$1.44 billion) bank loan package designed to assist low-income property seekers would not be limited to State-owned enterprises (SoEs), The Government’s VND30 trillion (US$1.44 billion) bank loan package designed to assist low-income property seekers would not be limited to State-owned enterprises (SoEs), the Ministry of Construction has said as it moves [...] The post Housing stimulus set to benefit all appeared first on Vietnam Business News.

Saigon airport plaza completes first stage Posted: 16 Jul 2013 08:25 PM PDT Ho Chi Minh City's Saigon Airport Plaza – a mixed-use project of four components namely apartment, office, hotel/serviced apartment and shopping centre – has launched its first phase. Available for use are the Blue Sky Apartment, Blue Sky Serviced Apartment, and Blue Sky Office Tower. The plaza project span on 1.6 hectares next to Tan [...] The post Saigon airport plaza completes first stage appeared first on Vietnam Business News.

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