The Business Times: Auto giants choose to steer clear of national motor show

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• Auto giants choose to steer clear of national motor show
• VN retail boosted by foreign support
• DPM: Malaysia and Vietnam should boost bilateral trade
• Differences in statistics blamed on different ways of calculation
• Interest rates key to bolstering bank and business relationship
• Banks await lift in foreign ownership
• Vietnam’s petrochemical oil refinery projects gear up
• “Black credit” provides money to businesses to pay bank debts
• Government proposes budget deficit rise
• Vietnam CPI seen to rise 7%yoy in december

Auto giants choose to steer clear of national motor show Posted: 21 Oct 2013 12:59 AM PDT HA NOI (VNS)— Many well-known automobile brands in the Vietnamese market will not be present at next week’s Vietnam Motor Show 2013, the country’s biggest annual exhibition. Instead, they are promoting their vehicles independently, according to VnEconomy online newspaper. The show is a place for businesses to introduce new products and seek partners. However, three [...] The post Auto giants choose to steer clear of national motor show appeared first on Vietnam Business News.

VN retail boosted by foreign support Posted: 21 Oct 2013 12:57 AM PDT HA NOI (VNS)— Viet Nam’s retail sector, with help from foreign retail distributors, has initially shown a change for the better. The total retail sales of goods and services in 2011 reached over VND2 trillion (US$90 billion), a year-on-year increase of 24.2 per cent despite economic downturn. At present, there are 650 supermarkets in 59 [...] The post VN retail boosted by foreign support appeared first on Vietnam Business News.

DPM: Malaysia and Vietnam should boost bilateral trade Posted: 21 Oct 2013 12:56 AM PDT Malaysia and Vietnam should work towards improving bilateral trade and investments, says Deputy Prime Minister Tan Sri Muhyiddin Yassin. Both sides can use the Malaysia-Vietnam Joint Trade Committee to address current barriers to trade and identify strategic areas for collaboration. Speaking at a roundtable meeting with industry captains here, Muhyiddin said the committee should encourage [...] The post DPM: Malaysia and Vietnam should boost bilateral trade appeared first on Vietnam Business News.

Differences in statistics blamed on different ways of calculation Posted: 21 Oct 2013 12:53 AM PDT In 2010 and 2011, the gross regional domestic product (GRDP) indexes reported by the 63 provinces and cities were very high, but the GDP of the whole country were low at 6.42 and 6.24 percent, respectively. "Why were the GDP indexes low in the context of the high GRDP? Where has the domestic product value [...] The post Differences in statistics blamed on different ways of calculation appeared first on Vietnam Business News.

Interest rates key to bolstering bank and business relationship Posted: 21 Oct 2013 12:52 AM PDT Deputy director of the HCM City branch of the State Bank, Nguyen Hong Minh, spoke with Thoi bao Ngan hang (Banking Times) newspaper about connecting commercial banks and enterprises The programme for connecting borrowers and banks was initiated by the city’ State Bank from a dialogue on monetary policies since July 2012. What has turned [...] The post Interest rates key to bolstering bank and business relationship appeared first on Vietnam Business News.

Banks await lift in foreign ownership Posted: 21 Oct 2013 12:50 AM PDT Many banks, including the major ones, are expecting the Government to increase foreign ownership cap in the banking sector and are ready with plans to sell strategic stakes, Vietnam Investment Review has reported. A foreign investor is allowed to own a 20 per cent stake in a bank, while the total non-Vietnamese ownership is capped [...] The post Banks await lift in foreign ownership appeared first on Vietnam Business News.

Vietnam’s petrochemical oil refinery projects gear up Posted: 21 Oct 2013 12:47 AM PDT  Vietnam has been gradually proceeding towards a petrochemical industry comprising of all phases of a production line. Despite the comments about the low profitability of oil refinery projects, Vietnam vows to develop the petrochemical industry. Ignoring the doubts about the financial capability to implement projects, foreign investors have been flocking to Vietnam to develop oil [...] The post Vietnam's petrochemical oil refinery projects gear up appeared first on Vietnam Business News.

“Black credit” provides money to businesses to pay bank debts Posted: 21 Oct 2013 12:16 AM PDT It is estimated that the outstanding loans provided by "underground lending system," or "black credit" accounts for 30 percent of the outstanding loans provided by the banking system, or roughly $50 billion, according to Vo Tri Thanh, Deputy Head of the Central Institute for Economic Management (CIEM). Black credit has been provided everywhere to any [...] The post "Black credit" provides money to businesses to pay bank debts appeared first on Vietnam Business News.

Government proposes budget deficit rise Posted: 21 Oct 2013 12:15 AM PDT The Government has proposed the National Assembly raise the 2013-14 budget deficits to 5.3% of GDP to meet development investment requirements and pay debts. Overspending will be reduced gradually as of 2015, Prime Minister Nguyen Tan Dung said while delivering a Government report at the current National Assembly session in Hanoi on October 21. An [...] The post Government proposes budget deficit rise appeared first on Vietnam Business News.

Vietnam CPI seen to rise 7%yoy in december Posted: 20 Oct 2013 09:39 PM PDT Vietnam's consumer price index (CPI) is forecast to increase 7% on year in December, the Vietnamese Government said in its recent report sent to the National Assembly’s Standing Committee, the portal of the Ministry of Finance [mof.gov.vn] reported. If the forecast comes true, December's CPI will post a lower than expected increase of 8% on [...] The post Vietnam CPI seen to rise 7%yoy in december appeared first on Vietnam Business News.

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