The Business Times: Foreign glee as cap on stakes look set to rise

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• Foreign glee as cap on stakes look set to rise
• Shoes makers may fail to grab TPP opportunities ‘cause of material shortage
• Dollar market wakes up suddenly after long sleep
• Vietnam pays $4.26 billion of debt in 11 months
• Vietnam banking – finance landscape before and after joining WTO
• VietinBank buys nearly VND3.3 trillion debts of CII
• Interbank trading dong +11%, dollar +31% in week ending november 22
• WB approves US$25 million credit to better Vietnam’s water resources management
• Vietnam aims to capitalise on border trade
• New horizon in e-commerce for Vietnamese businesses

Foreign glee as cap on stakes look set to rise Posted: 29 Nov 2013 10:24 PM PST Foreign investors may soon have their hopes of higher ownership ratios in listed companies realised. The State Securities Commission has just submitted a draft decision to the prime minister governing foreign ownership limits in listed companies. If passed the decision would allow foreign investors to own up to 60 per cent of total voting shares [...] The post Foreign glee as cap on stakes look set to rise appeared first on Vietnam Business News.

Shoes makers may fail to grab TPP opportunities ‘cause of material shortage Posted: 29 Nov 2013 10:20 PM PST The Trans Pacific Strategic Partnership Agreement (TPP) is believed to create 1 million jobs in Vietnam's leader and shoes industry. In order to take full advantage of the agreement, Vietnamese shoes makers have to settle the existing material problem. The Lien Anh Leather & Shoes Company in Binh Duong province has incurred a loss of [...] The post Shoes makers may fail to grab TPP opportunities 'cause of material shortage appeared first on Vietnam Business News.

Dollar market wakes up suddenly after long sleep Posted: 29 Nov 2013 10:17 PM PST The dollar market, which has been stable for a long time, has heated up with the prices increasing in both the black and official markets. The dollar price on the black market has increased to VND21,280 per dollar, the highest peak since August. The manager of a joint stock bank in Hanoi on November 27, [...] The post Dollar market wakes up suddenly after long sleep appeared first on Vietnam Business News.

Vietnam pays $4.26 billion of debt in 11 months Posted: 29 Nov 2013 10:15 PM PST In the January-November period of 2013, the state budget paid VND89.5 trillion of debt ($4.26 billion), equivalent to about 11 percent of the total budget spending. A report of the General Statistics Office said that the total state budget spending by November 15 was estimated at VND803.1 trillion (over $38.2 billion). The payment for debt [...] The post Vietnam pays $4.26 billion of debt in 11 months appeared first on Vietnam Business News.

Vietnam banking – finance landscape before and after joining WTO Posted: 29 Nov 2013 10:14 PM PST The National Assembly’s Economic Committee has just released the report on financial regulation, restructuring financial markets and monetary policy effectiveness in Vietnam, local newswire Tri Thuc Tre reported. According to the report, the number of newly licensed commercial banks in the post-WTO period is not much. In other words, most commercial banks had been licensed and put [...] The post Vietnam banking – finance landscape before and after joining WTO appeared first on Vietnam Business News.

VietinBank buys nearly VND3.3 trillion debts of CII Posted: 29 Nov 2013 10:12 PM PST Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) has just bought nearly VND3.300 billion bank debts of Ho Chi Minh City Infrastructure Investment JSC (CII – HOSE), local newswire VnEconomy reported. Ho Chi Minh City Infrastructure Investment JSC (CII) has just announced the comprehensive cooperation agreement between the company and Vietinbank. Accordingly, as of [...] The post VietinBank buys nearly VND3.3 trillion debts of CII appeared first on Vietnam Business News.

Interbank trading dong +11%, dollar +31% in week ending november 22 Posted: 29 Nov 2013 10:10 PM PST The total interbank trading value of the dong rose by 11.4% to VND100.973 trillion in the week ending November 22 from VND99.66 trillion a week earlier while that of the dollar rose 30.9% to VND56.722 trillion from VND43.348 trillion. The total interbank trading value of the dong rose by 11.4% to VND100.973 trillion in the [...] The post Interbank trading dong +11%, dollar +31% in week ending november 22 appeared first on Vietnam Business News.

WB approves US$25 million credit to better Vietnam’s water resources management Posted: 29 Nov 2013 10:08 PM PST The World Bank on November 28 approved a US$25 million credit to Vietnam to help Vietnam better manage trans-boundary water resources and climate risks The World Bank on November 28 approved a US$25 million credit to Vietnam to help Vietnam better manage trans-boundary water resources and climate risks through river basin approaches and improved water [...] The post WB approves US$25 million credit to better Vietnam's water resources management appeared first on Vietnam Business News.

Vietnam aims to capitalise on border trade Posted: 29 Nov 2013 10:06 PM PST Deputy Minister of Industry and Trade Nguyen Cam Tu has made it clear that border gates have become gateways and springboards for neighbouring countries to transport goods to each other, within the region and beyond. He made the remark at the International Development Partnership Forum on Cross-Border Trade that was held by the Ministry of [...] The post Vietnam aims to capitalise on border trade appeared first on Vietnam Business News.

New horizon in e-commerce for Vietnamese businesses Posted: 29 Nov 2013 10:06 PM PST Vietnam has a great chance to boost cooperation with other countries in the field of e-commerce as a member of the Asia Pacific Council for Trade Facilitation and Electronic Business (AFACT). Businesses from the country can also learn from and share experience with other member countries and territories worldwide in the field to enhance their [...] The post New horizon in e-commerce for Vietnamese businesses appeared first on Vietnam Business News.

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The Business Times: Vietnam ranks no.9 in the world on receiving oversea remittances

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• Vietnam ranks no.9 in the world on receiving oversea remittances
• Vietnam c.bank net injects vnd50ln via OMO on nov 28
• Nov 29: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down
• Banks’ planning to sell stake to foreign investors
• Striving for 12 percent credit growth rate – what for?
• Interest rate for state investment credit reduced to 10.8%
• Small stocks support local bourses
• SBV’s local gold purchase unlikely, bankers say
• SBV sells 14,900 taels of gold at 72nd auction

Vietnam ranks no.9 in the world on receiving oversea remittances Posted: 28 Nov 2013 07:25 PM PST According to the latest forecast by the State Bank of Vietnam (SBV), the amount of remittances to Vietnam this year will reach USD11 billion, up sharply from USD 9.75 billion in 2012, local newspaper Dau tu reported. Overall, remittances to Vietnam from 1993 to 2013 are at about USD84 billion. According to the World Bank [...] The post Vietnam ranks no.9 in the world on receiving oversea remittances appeared first on Vietnam Business News.

Vietnam c.bank net injects vnd50ln via OMO on nov 28 Posted: 28 Nov 2013 07:24 PM PST The State Bank of Vietnam (SBV) pumped VND120 billion through open market operation (OMO) and withdrew VND70 billion, resulting in net injection of VND50 billion on Nov 28, 2013, local newswire NDH reported, citing data from SSI Research. As of November 28, the total outstanding loans on OMO were VND508 billion. On the day, SBV issued VND1,994 [...] The post Vietnam c.bank net injects vnd50ln via OMO on nov 28 appeared first on Vietnam Business News.

Nov 29: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down Posted: 28 Nov 2013 07:22 PM PST Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Wednesday, unchanged for nearly 5 months. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,246. Today, commercial banks lowered dollar prices by [...] The post Nov 29: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down appeared first on Vietnam Business News.

Banks’ planning to sell stake to foreign investors Posted: 28 Nov 2013 07:18 PM PST Some banks are planning to sell stake to foreign investors with an expectation to accelerate the restructuring and enhance the financial resources and executive management. This is also an opportunity for foreign shareholders penetrate deep into Vietnam's financial market and also for speculation and long-term investment purposes. According to experts, the wave of foreign investors [...] The post Banks’ planning to sell stake to foreign investors appeared first on Vietnam Business News.

Striving for 12 percent credit growth rate – what for? Posted: 28 Nov 2013 07:17 PM PST While the State Bank repeatedly urges commercial banks to push up lending, economists believe there's no need to strive for the 12 percent credit growth rate in 2013, if this brings risks. SBV gets impatient By October 31, 2013, the total outstanding loans had increased by 7.18 percent over the end of 2012. The growth [...] The post Striving for 12 percent credit growth rate – what for? appeared first on Vietnam Business News.

Interest rate for state investment credit reduced to 10.8% Posted: 28 Nov 2013 07:14 PM PST On November 14, 2013, the Ministry of Finance issued Circular 161/2013/TT-BTC. Accordingly, interest rate for State investment credit in Vietnam dong is 10.8%/pa, local newspaper Hai quan reported. Circular 161/2013/TT-BTC amends and supplements Circular No. 77/2013/TT-BTC on regulating interest rates for State investment credit, and export credit and interest rate difference calculated for after-investment support. [...] The post Interest rate for state investment credit reduced to 10.8% appeared first on Vietnam Business News.

Small stocks support local bourses Posted: 28 Nov 2013 07:10 PM PST Markets finished mixed at the end of yesterday’s session, with liquidity declining over the previous day’s trading. On the HCM City Stock Exchange, the VN-Index shed 0.14 per cent to 507.71 points, while the VN30 tracking the southern city bourse’s top shares added 0.4 per cent to close at 570.56 points. The VN30 gained thanks [...] The post Small stocks support local bourses appeared first on Vietnam Business News.

SBV’s local gold purchase unlikely, bankers say Posted: 28 Nov 2013 07:01 PM PST Although an official of the State Bank of Vietnam (SBV) recently announced a gold purchase plan from local sources to increase the nation's foreign reserves, local banks and gold trading enterprises have predicted that the scheme won't happen. Although an official of the State Bank of Vietnam (SBV) recently announced a gold purchase plan from [...] The post SBV's local gold purchase unlikely, bankers say appeared first on Vietnam Business News.

SBV sells 14,900 taels of gold at 72nd auction Posted: 28 Nov 2013 07:00 PM PST Only 100 taels of gold bullions were left unsold out of 15,000 taels offered in the 72nd auction session held by the State Bank of Vietnam (SBV) on November 28, 2013, the State Bank of Vietnam (SBV) said. Thirdteen licensed gold firms and credit institutions bought gold bullions at VND35.2 – 35.23 million/tael. During the period from [...] The post SBV sells 14,900 taels of gold at 72nd auction appeared first on Vietnam Business News.

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