The Business Times: Vietnam C.bank signs $55mln credit agreement with World Bank

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• Vietnam C.bank signs $55mln credit agreement with World Bank
• Banks ignore deposit interest cap in desperate liquidity bid
• Shrimp exports up 38 per cent as tide begins to turn
• Exports to Africa, South and West Asia reach US$6.5 billion
• Viet Kieu set for tax hikes
• Tuy Hoa Airport’s civil aviation zone inaugurated
• VN textile, garment industry to join TPP
• EVN tackles gas pipeline halt
• First credit rating agency to come online next year
• Vietnamese lose billions of dollars on Syria news

Vietnam C.bank signs $55mln credit agreement with World Bank Posted: 09 Sep 2013 12:58 AM PDT The State Bank of Vietnam (SBV) on Sept 6 signed a credit agreement worth $55 million with the World Bank for the project "Innovation towards low-income people", the central bank said in a post on its official e-portal. The project is expected to have four phases with total investment capital of $55.625 million. Of the [...] The post Vietnam C.bank signs $55mln credit agreement with World Bank appeared first on Vietnam Business News.

Banks ignore deposit interest cap in desperate liquidity bid Posted: 09 Sep 2013 12:53 AM PDT HCM CITY (VNS)— Banks are flouting the deposit rate cap to improve liquidity though, paradoxically, many are barely lending, according to analysts. The State Bank of Viet Nam has capped the interest rates on dong deposits at 7 per cent and on dollars at 1.25 per cent. But many banks, mostly small, are offering rates [...] The post Banks ignore deposit interest cap in desperate liquidity bid appeared first on Vietnam Business News.

Shrimp exports up 38 per cent as tide begins to turn Posted: 09 Sep 2013 12:41 AM PDT HA NOI (VNS)— Viet Nam earned nearly US$280 million from shrimp exports in August, a year-on-year increase of 38 per cent, bringing the total shrimp export value to $1.67 billion in the first eight months of this year. The price of shrimp will continue to go up while its export turnover will grow considerably in [...] The post Shrimp exports up 38 per cent as tide begins to turn appeared first on Vietnam Business News.

Exports to Africa, South and West Asia reach US$6.5 billion Posted: 09 Sep 2013 12:40 AM PDT Vietnam's trade turnover with African, West and South Asia markets hit around US$10.05 billion in seven months, of which US$6.5 billion came from exports (up 49.6%) and US$3.5 billion from imports (up 25.6 %) compared to last year's figures, according to the Vietnam Customs statistics. Exports to West Asia in particular jumped by 71.8% to [...] The post Exports to Africa, South and West Asia reach US$6.5 billion appeared first on Vietnam Business News.

Viet Kieu set for tax hikes Posted: 09 Sep 2013 12:38 AM PDT HA NOI (VNS) — The Ministry of Finance has proposed raising special consumption taxes on vehicles imported by repatriating Vietnamese citizens (Viet Kieu). In a submission to the government, the ministry proposed raising the special consumption tax on Viet Kieu vehicles to similar rates applied to cars imported for domestic purchase. According to current regulations, [...] The post Viet Kieu set for tax hikes appeared first on Vietnam Business News.

Tuy Hoa Airport’s civil aviation zone inaugurated Posted: 08 Sep 2013 11:04 PM PDT An inauguration ceremony was held on September 9 in central Phu Yen province to put the civil aviation zone at Tuy Hoa Airport into operation. The VND400 billion project includes building a runway, a passenger terminal, parking  and as well as upgrades to roads and other facilities. The terminal has a total area of 4,000sq.m [...] The post Tuy Hoa Airport's civil aviation zone inaugurated appeared first on Vietnam Business News.

VN textile, garment industry to join TPP Posted: 08 Sep 2013 11:01 PM PDT DA NANG  (VNS)— Participation in the Trans-Pacific Partnership Agreement (TPP) would create favourable conditions to boost Viet Nam’s textile and garment sector as the third key industry of the country. Deputy general secretary of the Viet Nam Textile and Apparel Association (VITAS) Nguyen Van Tuan said at a workshop on the TPP and impacts on [...] The post VN textile, garment industry to join TPP appeared first on Vietnam Business News.

EVN tackles gas pipeline halt Posted: 08 Sep 2013 10:59 PM PDT HA NOI (VNS)— Electricity of Viet Nam (EVN) is lifting efforts to minimise a potential power shortage this month due to a 9-day halt in gas supply at the Nam Con Son Gas Pipeline Company. The director of the Ministry of Industry and Trade’s Electricity Regulatory Authority of Viet Nam (ERAV), Dang Huy Cuong, said [...] The post EVN tackles gas pipeline halt appeared first on Vietnam Business News.

First credit rating agency to come online next year Posted: 08 Sep 2013 10:56 PM PDT The first credit rating agency (CRA) is expected to be launched in the country next year after the Government issued legal framework for operations of such institutions. The Ministry of Finance is fielding suggestions for the decree on establishment and operation of CRAs and will submit it to the Government in October. It is expected [...] The post First credit rating agency to come online next year appeared first on Vietnam Business News.

Vietnamese lose billions of dollars on Syria news Posted: 08 Sep 2013 10:52 PM PDT The domestic assets markets have been fluctuating heavily amid the rapid fire news relating to Syria. Gold, dollar and securities investors tremble with fear The domestic gold price on September 3, when people were back from the September holiday, decreased to VND38.15-38.3 million per tael in accordance with the world's price downturn to $1,390 per [...] The post Vietnamese lose billions of dollars on Syria news appeared first on Vietnam Business News.

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