The Business Times: Buying debts enables foreigners entering VN property market

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• Buying debts enables foreigners entering VN property market
• Showpiece casino lacking investors
• Vinashin counts the cost of redundancy payments
• Most Da Nang tourism workers unqualified
• VNA, VietJetAir resume flights to Hue’s airport
• Macro economy not yet stable
• Vietnam’s new rules on foreign workers likely to make things messy for employers
• Vietnam: Gold monopoly raises concerns over foreign exchange reserves
• Lending rates can decline by 1% by year end
• Sep 25: Vietnam gold eases to vnd37.5, dollar stable

Buying debts enables foreigners entering VN property market Posted: 25 Sep 2013 12:07 AM PDT Why are the Vietnamese debts so attractive to foreigners? The answer is that 70 percent of the debts have been mortgaged by real estate products. IFC, an arm of the World Bank, has expressed its will to get involved in the Vietnam's process of dealing with bad debts. The institution can provide loans, buy debts [...] The post Buying debts enables foreigners entering VN property market appeared first on Vietnam Business News.

Showpiece casino lacking investors Posted: 25 Sep 2013 12:04 AM PDT VinaCapital has failed to find a partner for jointly developing a $4 billion casino integrated resort project in central province of Quang Nam, overshooting their own deadline to secure a partner in the third quarter of this year. A source at the Management Authority of the Chu Lai Economic Zone, Quang Nam province, said VinaCapital [...] The post Showpiece casino lacking investors appeared first on Vietnam Business News.

Vinashin counts the cost of redundancy payments Posted: 25 Sep 2013 12:02 AM PDT The Viet Nam Shipbuilding Industry Group (Vinashin) would need nearly VND1.2 trillion (US$57.1 million) to pay out redundancy entitlements for 14,000 employees laid off under the company’s restructuring plan. The statement was made by Vinashin deputy general director Chu Dinh Dong in a meeting with the Ministry of Transport and the Viet Nam General Federation [...] The post Vinashin counts the cost of redundancy payments appeared first on Vietnam Business News.

Most Da Nang tourism workers unqualified Posted: 25 Sep 2013 12:01 AM PDT Only 40 per cent of the 14,000 people working in the tourism and hospitality sector in central Da Nang City are actually qualified, a study has found. Even those who graduate from vocational centres, colleges and universities are frequently not equipped for real jobs. “They don’t have any practical knowledge,” said Nguyen Thi My Huong [...] The post Most Da Nang tourism workers unqualified appeared first on Vietnam Business News.

VNA, VietJetAir resume flights to Hue’s airport Posted: 24 Sep 2013 11:59 PM PDT Vietnam Airlines and VietJetAir last Friday resumed services to Phu Bai Airport in Thua Thien-Hue Province after the airport had been closed for six months for runway repair and other facility upgrades. On the first day of flight resumption, Vietnam Airlines had five flights to the former imperial capital of Hue from HCMC and Hanoi, [...] The post VNA, VietJetAir resume flights to Hue's airport appeared first on Vietnam Business News.

Macro economy not yet stable Posted: 24 Sep 2013 11:56 PM PDT Viet Nam’s macro economy had been partially stabilised, but this was not yet sustainable, said Deputy Prime Minister Nguyen Xuan Phuc at the midterm review workshop on the 2011-15 socio-economic development plan yesterday. The international workshop was jointly held by the Party Central Committee’s Economic Commission, the National Assembly Economic Committee, the National Economics University [...] The post Macro economy not yet stable appeared first on Vietnam Business News.

Vietnam’s new rules on foreign workers likely to make things messy for employers Posted: 24 Sep 2013 11:50 PM PDT The recent tightening of regulations on foreign workers, which involves even more red tape, is likely to exacerbate the already dire human-resource situation facing the corporate sector, experts warn. A decree to take effect on November 1 superseding an earlier one will continue to make it incumbent on employers to prove that they require foreign [...] The post Vietnam's new rules on foreign workers likely to make things messy for employers appeared first on Vietnam Business News.

Vietnam: Gold monopoly raises concerns over foreign exchange reserves Posted: 24 Sep 2013 11:41 PM PDT The State Bank of Vietnam (SBV)'s monopoly in gold import and supply has raised concerns that the country's foreign exchange reserves might be affected, the Economic Committee of the National Assembly has said in its macroeconomic news release. “There are concerns that the management, supervision of the gold market and gold trading are not clearly [...] The post Vietnam: Gold monopoly raises concerns over foreign exchange reserves appeared first on Vietnam Business News.

Lending rates can decline by 1% by year end Posted: 24 Sep 2013 11:31 PM PDT Deposit interest rates are unlikely to fall further, but local banks may decide to lower lending rates further by 0.5-1% in the remaining three months to accelerate lending growth at year end. In recent months, banks have constantly launched preferential credit programs for consumers and good businesses. Yet, many said they still faced difficulty in [...] The post Lending rates can decline by 1% by year end appeared first on Vietnam Business News.

Sep 25: Vietnam gold eases to vnd37.5, dollar stable Posted: 24 Sep 2013 11:25 PM PDT This morning, Vietnam gold inched down by VND30,000/tael versus yesterday close to VND37.5 Million/tael. World gold inched up. Hochiminh was traded at VND37.25 million/tael for bid and VND37.50 million/tael for ask, respectively as of 10:10 am, Hanoi time. SJC in the North quoted at VND37.25 million/tael for bid and VND37.50 million/tael for ask. Techcombank gold [...] The post Sep 25: Vietnam gold eases to vnd37.5, dollar stable appeared first on Vietnam Business News.

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