The Business Times: VNPT’s $150 million sea cable project cancelled

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• VNPT’s $150 million sea cable project cancelled
• $250 million to build a Vietnam-Laos bauxite pipe
• Vietnam: Dollarization decreases
• Danang: Total credits +4.46%; bad debts at 9.33% in jan-sept
• Vietnam airlines sells 827,847 convertible bonds of Techcombank to five individuals
• Metlife, BIDV form life insurance company in Vietnam
• Vietnam military bank approved to raise charter capital to vnd11.256tln
• Financial experts urge solutions to rescue flailing VN economy
• MoIT asked to rethink hydro-power plants
• SBV regulates debt grouping

VNPT’s $150 million sea cable project cancelled Posted: 27 Sep 2013 01:04 AM PDT The Prime Minister has agreed to stop the implementation of the North – South sea optic cable project invested by the Vietnam Post and Telecommunication Group (VNPT), using VND3 trillion worth of capital from Japan's ODA. Vietnam planned to develop an 8-fiber optic cable transmission system with WDM technology, which would skirt the Vietnamese coast, [...] The post VNPT's $150 million sea cable project cancelled appeared first on Vietnam Business News.

$250 million to build a Vietnam-Laos bauxite pipe Posted: 27 Sep 2013 01:01 AM PDT An underground pipeline of 240 km long will be built to link from the Sekong and Attapeu plateaus of Laos to Quang Nam province of Vietnam, with a total investment of approximately $250 million. The Quang Nam Provincial People’s Committee has allowed the Vietnam Import Export and Construction Corporation (Vinaconex) and its Lao partner – [...] The post $250 million to build a Vietnam-Laos bauxite pipe appeared first on Vietnam Business News.

Vietnam: Dollarization decreases Posted: 27 Sep 2013 12:55 AM PDT The dollarization in the economy has decreased. In the first 8 months of 2013, the State Bank of Vietnam (SBV) had taken measures synchronically to stabilize the exchange rates and the foreign exchange market, enabling to raise the country's forex reserves, supporting the implementation of monetary policy and contributing to inflation control and macro-economic stability. [...] The post Vietnam: Dollarization decreases appeared first on Vietnam Business News.

Danang: Total credits +4.46%; bad debts at 9.33% in jan-sept Posted: 27 Sep 2013 12:51 AM PDT Total outstanding credits of commercial banks in Danang were estimated to have increased by 4.46% in Jan-Sept 2013 to VND53 trillion, according to the city's central bank's reports. Of the total, outstanding loans to small and medium enterprises (SMEs) accounted for 31%. Dong loans made up 46.1 trillion, up 7.08% while foreign currency credits decreased [...] The post Danang: Total credits +4.46%; bad debts at 9.33% in jan-sept appeared first on Vietnam Business News.

Vietnam airlines sells 827,847 convertible bonds of Techcombank to five individuals Posted: 27 Sep 2013 12:50 AM PDT The Hanoi Stock Exchange (HNX) said Vietnam Airlines sold out its holding of 827,847 convertible bonds of Techcombank to five investors at the average price of VND132,700/bond. In details, there were five individual bidders for 832,300 convertible bonds (out of 827,847 bonds offered) by deadline for registration and deposit on Sept 19. These are 10-year [...] The post Vietnam airlines sells 827,847 convertible bonds of Techcombank to five individuals appeared first on Vietnam Business News.

Metlife, BIDV form life insurance company in Vietnam Posted: 27 Sep 2013 12:47 AM PDT MetLife, Inc., Bank for Investment & Development of Vietnam (BIDV), and Bank for Investment and Development of Vietnam Insurance Corporation (BIC) will establish a life insurance joint venture (JV) in Vietnam. The new JV will have a charter capital of 1 trillion dong (US$48 million) with MetLife owning 60% of the company and BIDV and [...] The post Metlife, BIDV form life insurance company in Vietnam appeared first on Vietnam Business News.

Vietnam military bank approved to raise charter capital to vnd11.256tln Posted: 27 Sep 2013 12:40 AM PDT Military Bank got approval from the State Bank of Vietnam (SBV) to raise its charter capital from VND10.625 trillion to VND11.256 trillion, the central bank said in a post on its website. The Hanoi-based bank, officially known as Military Joint Stock Commercial Bank (MBB), will increase its charter capital through issuing 50 million new shares [...] The post Vietnam military bank approved to raise charter capital to vnd11.256tln appeared first on Vietnam Business News.

Financial experts urge solutions to rescue flailing VN economy Posted: 26 Sep 2013 09:52 PM PDT THUA THIEN HUE (VNS)— Viet Nam needs to implement strategic breakthroughs and macro solutions to improve the economy, which is currently mired in depression, said Assoc Prof Dr Tran Dinh Thien, director of the Viet Nam Economic Institute, at the Autumn Economic Forum held in Hue yesterday. Since joining the World Trade Organisation, Viet Nam [...] The post Financial experts urge solutions to rescue flailing VN economy appeared first on Vietnam Business News.

MoIT asked to rethink hydro-power plants Posted: 26 Sep 2013 09:19 PM PDT HCM CITY (VNS)— The Prime Minister has asked the Ministry of Industry and Trade to re-consider the development plans of hydro-power projects No 6 and 6A and others along the Dong Nai River. The request is part of a document giving the PM’s response to a petition by the Ministry of Natural Resources and Environment [...] The post MoIT asked to rethink hydro-power plants appeared first on Vietnam Business News.

SBV regulates debt grouping Posted: 26 Sep 2013 09:16 PM PDT HA NOI (VNS) — State Bank of Viet Nam Governor Nguyen Van Binh this week issued a directive on classification of restructured debts to ensure that credit institutions perform safely and more effectively. Under the directive, the Governor requires credit institutions to restructure loan repayment periods and keep loan groups on the basis of assessing [...] The post SBV regulates debt grouping appeared first on Vietnam Business News.

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