The Business Times: Export turnover totals US$108bn after 10 months

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• Export turnover totals US$108bn after 10 months
• Numerous businesses unexpectedly asked to pay tax arrears
• Banks buy corporate bonds instead of lending to businesses
• Social housing credit plan plagued by slow disbursement
• City desperate to accelerate housing credit deployment
• VAMC: 67% of NPLs is in real estate
• Homebuyers besiege project owner on belated handover
• Vietinbank awards special prize of ” 25 years loyalty” program
• Thomson Reuters and State bank of Vietnam launch real-time FX trade monitoring system
• Remittances reach $3b in HCM City

Export turnover totals US$108bn after 10 months Posted: 26 Oct 2013 12:46 AM PDT The General Statistics Office expects Vietnam's ten-month export turnover to total US$108 billion, a year-on-year increase of 15.2%. The country earned US$11.7 billion from October's exports alone, up 4.6% from a year ago. The domestic economic sector earned US$35.9 billion from exports in 10 months, rising 3% from 2012, while the FDI sector's exports (including crude [...] The post Export turnover totals US$108bn after 10 months appeared first on Vietnam Business News.

Numerous businesses unexpectedly asked to pay tax arrears Posted: 26 Oct 2013 12:45 AM PDT A lot of businesses have unexpectedly received a demand to pay tax arrears worth of up to billions of dong. The businesses complain that they are the victims of the unclear legal documents. The Binh Minh Plastics JSC has been asked to pay VND117.11 billion to the HCM City Taxation Agency. The amount includes the [...] The post Numerous businesses unexpectedly asked to pay tax arrears appeared first on Vietnam Business News.

Banks buy corporate bonds instead of lending to businesses Posted: 26 Oct 2013 12:43 AM PDT The banks' move of pouring big money into corporate bonds, in the eyes of analysts, is a form of providing loans to businesses. Analysts have warned that it will be very difficult to settle the bad debts from the bond investments. Saigon Dau tu has quoted its sources as reporting that about VND15 trillion worth [...] The post Banks buy corporate bonds instead of lending to businesses appeared first on Vietnam Business News.

Social housing credit plan plagued by slow disbursement Posted: 26 Oct 2013 12:42 AM PDT A number of obstacles need to be removed to accelerate the disbursement of a $1.4 billion government preferential credit package to low-income homebuyers and corporate customers developing social housing projects. According to a source from state giant Vietcombank's (VCB) Ho Chi Minh City branch, it just appraised 24 loans for individual customers valued at $895,000, [...] The post Social housing credit plan plagued by slow disbursement appeared first on Vietnam Business News.

City desperate to accelerate housing credit deployment Posted: 26 Oct 2013 12:40 AM PDT HCMC – The central bank's HCMC branch has proposed the city's government and the State Bank of Vietnam seek ways to prop up the foot-dragging home loan program as few needy people have been able to access the preferential lending package. The biggest bottlenecks are the reluctance on the part of grassroots administration units to [...] The post City desperate to accelerate housing credit deployment appeared first on Vietnam Business News.

VAMC: 67% of NPLs is in real estate Posted: 26 Oct 2013 12:39 AM PDT Vietnam Asset Management Company (VAMC) has just announced the issuance of 50 special bond codes to handle bad debts for 3 banks: Agribank, SCB and Southern Bank. The special bonds are valid since October 22, duration 5 years and interest rate 0%, allocated for Agribank VND 1,723 bln, SCB VND 1,200 bln and Southern Bank [...] The post VAMC: 67% of NPLs is in real estate appeared first on Vietnam Business News.

Homebuyers besiege project owner on belated handover Posted: 26 Oct 2013 12:38 AM PDT HCMC – Around 100 homebuyers of the My Phu apartment project in HCMC's District 7 once again rushed to the head office of Petrocapital and Infrastructure Investment Joint Stock Company (Petroland) on Tuesday to ask the company to continue executing One member from the group said that Petroland as the project owner in a meeting [...] The post Homebuyers besiege project owner on belated handover appeared first on Vietnam Business News.

Vietinbank awards special prize of ” 25 years loyalty” program Posted: 25 Oct 2013 08:05 PM PDT VietinBank awarded the special prize of ” 25 Years Loyalty” Program on Oct 24 in Sam Son, Thanh Hoa to the winner Cao Thi Nhung, residing in Hoang Hoa , Thanh Hoa. The award is in kind of London Diamond Gallery branded jewelry inlaid with 77 facet diamond. Attending the awards ceremony were Mr. Hoang [...] The post Vietinbank awards special prize of ” 25 years loyalty” program appeared first on Vietnam Business News.

Thomson Reuters and State bank of Vietnam launch real-time FX trade monitoring system Posted: 25 Oct 2013 08:00 PM PDT Thomson Reuters and State Bank of Vietnam today announced the launch of a real-time trade monitoring and post-trade system for collecting and extracting information in the interbank foreign exchange market. Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, and State Bank of Vietnam today announced the launch of a real-time [...] The post Thomson Reuters and State bank of Vietnam launch real-time FX trade monitoring system appeared first on Vietnam Business News.

Remittances reach $3b in HCM City Posted: 25 Oct 2013 07:59 PM PDT HCM CITY (VNS)— The State Bank of Viet Nam in HCM City had received US$3 billion from remittances as of the end of September this year, putting Viet Nam in the top ten countries in the world for remittances. In 2013, HCM City’s remittances could reach $4.8 billion, an increase of $700 million from last [...] The post Remittances reach $3b in HCM City appeared first on Vietnam Business News.

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