The Business Times: VRG sets $1.17b revenue goal for 2013

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• VRG sets $1.17b revenue goal for 2013
• Viet Nam trade makes further forays into Italy
• Spotlight turns to future of hydro-power
• Transport firms opposed to 3G price increase
• Banking giants to offload bad debt
• Surging demand drives investment activity
• Russia’s WTO membership impact on Vietnam
• Banks braced for bad news over 2013 profit projections
• IIP fails to hit former heights due to economy
• State Treasury plans more market-friendly manoeuvres

VRG sets $1.17b revenue goal for 2013 Posted: 27 Oct 2013 09:46 PM PDT HA NOI (VNS)— The Viet Nam Rubber Group (VRG) plans to foster trade promotion and expand export outlets in order to reap a VND24.5 trillion (US$1.17 billion) revenue by year-end, the group said in a conference in HCM City on Saturday. Over the past nine months, it had sold 200,000 tonnes of rubber, earning a [...] The post VRG sets $1.17b revenue goal for 2013 appeared first on Vietnam Business News.

Viet Nam trade makes further forays into Italy Posted: 27 Oct 2013 09:44 PM PDT HA NOI (VNS)— Viet Nam plans to open another economic office in Lombardy in 2014, expanding its presence in the most economically developed and industrialised region in Italy. The office establishment was agreed during a meeting between Vietnamese Ambassador to Italy Nguyen Hoang Long and Lombardy regional president Roberto Maroni in Italy on Friday. Lombardy [...] The post Viet Nam trade makes further forays into Italy appeared first on Vietnam Business News.

Spotlight turns to future of hydro-power Posted: 27 Oct 2013 09:43 PM PDT HA NOI (VNS) — The National Assembly Committee on Science, Technology and Environment gathered to review the government’s report on reviewing the hydro-power development master plan in Ha Noi on Saturday. The Government reported that it has approved the removal of six potentially large and 418 small hydro-power projects from the national plan. These plants [...] The post Spotlight turns to future of hydro-power appeared first on Vietnam Business News.

Transport firms opposed to 3G price increase Posted: 27 Oct 2013 09:42 PM PDT  The Viet Nam Automobile Transportation Association petitioned the Ministry of Transport to undo the recent increase in the 3G internet service fee.   The association said that the hike put thousands of bus and truck drivers— who are required to use 3G to record their operations but cannot afford the higher fees –at risk of [...] The post Transport firms opposed to 3G price increase appeared first on Vietnam Business News.

Banking giants to offload bad debt Posted: 27 Oct 2013 09:40 PM PDT  The Viet Nam Asset Management Company (VAMC) will sign contracts this week to purchase more than VND1 trillion (US$47.6 million) in bad debts from Maritime Bank, Techcombank and Global PetroBank (GPBank). The new deal raises the total number of banks offloading bad debts to nine, including Agribank, Viet Nam Construction Bank, Phuong Nam Bank, Sai [...] The post Banking giants to offload bad debt appeared first on Vietnam Business News.

Surging demand drives investment activity Posted: 27 Oct 2013 08:11 PM PDT HA NOI (VNS)— Profit-taking increased last week, but high demand for shares helped narrow the declines of indices and maintain investor morale. Trading by foreign investors contributed to motivating the market. On the HCM City Stock Exchange, the VN-Index shed 0.02 per cent to 500.75 points, while the VN30 tracking the bourse’s top 30 shares [...] The post Surging demand drives investment activity appeared first on Vietnam Business News.

Russia’s WTO membership impact on Vietnam Posted: 27 Oct 2013 08:11 PM PDT A seminar was held in in Moscow on October 26 to examine opportunities and challenges Vietnamese businesses face after Russia joins the World Trade Organization. The Vietnamese embassy's trade counselor Pham Quang Niem spoke of advantages and disadvantages of Russia's WTO admission as well as its impact on Vietnam-Russia economic and trade cooperative relations and [...] The post Russia's WTO membership impact on Vietnam appeared first on Vietnam Business News.

Banks braced for bad news over 2013 profit projections Posted: 27 Oct 2013 08:07 PM PDT HCM CITY (VNS)— Commercial banks are pessimistic about their profit prospects for this year, with many expected to fall far short of their annual targets. According to a source with the Ministry of Planning and Investment, who did not want to be named, many banks have to date only realised between 20 and 30 per [...] The post Banks braced for bad news over 2013 profit projections appeared first on Vietnam Business News.

IIP fails to hit former heights due to economy Posted: 27 Oct 2013 08:05 PM PDT HA NOI (VNS))— The index of industrial production (IIP) saw a 5.4 per cent year-on-year increase in the January-October period, according to the General Statistics Office (GSO). In October alone, the index edged up an estimated 5.9 per cent compared to the same period last year. GSO experts said industrial production did not bounce back [...] The post IIP fails to hit former heights due to economy appeared first on Vietnam Business News.

State Treasury plans more market-friendly manoeuvres Posted: 27 Oct 2013 08:00 PM PDT HCM CITY (VNS)— The State Treasury will carry out several new measures in order to create an impetus for capital mobilisation, according to the Viet Nam Financial Times. The paper quoted Tran Minh Hang, deputy general director of the treasury, as saying that in the first six months of the year, more than VND124.331 billion [...] The post State Treasury plans more market-friendly manoeuvres appeared first on Vietnam Business News.

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