The Business Times: Banks race against time to sell debts

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• Banks race against time to sell debts
• Paper industry grows 7% in 2013
• Global fastfood chains making forays into Vietnam
• Cashew growth belies problems
• Social workers need professional training: Survey
• Vietnam vows to reduce software piracy to 70% by 2018
• Dec 20: Vietnam central bank keeps dollar exchange at vnd21,036
• Banks find it hard to sell assets for NPLs recovery
• Banks continue to ask for delay in Circular 02 application
• Agricultural loans accounts for nearly 20% of total outstanding loans

Banks race against time to sell debts Posted: 19 Dec 2013 11:32 PM PST Banks now queue up for their turns to sell bad debts to the Vietnam Asset Management Company (VAMC). They need to "clean up the balance sheet" by the time when the Circular No. 02 on classifying bad debts according to international standards takes effects, slated for June 1, 2014. Commercial banks now see VAMC as […] The post Banks race against time to sell debts appeared first on Vietnam Business News.

Paper industry grows 7% in 2013 Posted: 19 Dec 2013 11:28 PM PST The paper industry has posted sales growth of 7% this year, but this growth rate is not equally shared by companies in the industry Vu Ngoc Bao, vice chairman and general secretary of the Vietnam Pulp and Paper Association, said at a news briefing in HCMC on Tuesday. The paper industry has posted sales growth […] The post Paper industry grows 7% in 2013 appeared first on Vietnam Business News.

Global fastfood chains making forays into Vietnam Posted: 19 Dec 2013 11:25 PM PST According to a source from the US General Consul in Ho Chi Minh City, US-based sandwich chain Quiznos will come to the city on December 18 to start sourcing local partners for franchising, the Vietnam Investment Review heard. Quiznos started in 1981 in Denver, Colorado and has since grown into a global fastfood brand with […] The post Global fastfood chains making forays into Vietnam appeared first on Vietnam Business News.

Cashew growth belies problems Posted: 19 Dec 2013 11:22 PM PST The strong growth in recent years notwithstanding, the cashew industry encounters many challenges, including a fall in area, threatening its development. This requires a development strategy to enable the industry to develop in a sustainable manner in the coming years, according to the Department of Crop Production. The department along with other agencies and the […] The post Cashew growth belies problems appeared first on Vietnam Business News.

Social workers need professional training: Survey Posted: 19 Dec 2013 11:19 PM PST Less than 10 percent of social workers are adequately trained, according to a nationwide survey conducted by the Ministry of Labour, Invalids and Social Affairs (MOLISA) across 41 cities and provinces. The survey, which collected information from over 60,000 people engaged in social work, also revealed that nearly half of them were trained workers, of […] The post Social workers need professional training: Survey appeared first on Vietnam Business News.

Vietnam vows to reduce software piracy to 70% by 2018 Posted: 19 Dec 2013 11:15 PM PST A series of inspection tours have been made recently to find out the businesses and individuals using pirated software. Meanwhile, a software piracy lawsuit has been raised, for the first time in Vietnam. The Business Software Alliance (BSA) on December 18 officially announced its decision to take legal proceedings against Gold John Dong Nai Vietnam […] The post Vietnam vows to reduce software piracy to 70% by 2018 appeared first on Vietnam Business News.

Dec 20: Vietnam central bank keeps dollar exchange at vnd21,036 Posted: 19 Dec 2013 11:09 PM PST Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Friday, unchanged for 5 months and a half. 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, some commercial banks lowered, […] The post Dec 20: Vietnam central bank keeps dollar exchange at vnd21,036 appeared first on Vietnam Business News.

Banks find it hard to sell assets for NPLs recovery Posted: 19 Dec 2013 10:53 PM PST Together with the recent solution of selling debts to VAMC, banks are actively handle non-perfoming loans (NPLs) themselves. However, it is not easy due to entanglement in the handling of collaterals, local newswire Vietstock reported. To handle NPLs themselves, banks have sell assets for cash. Otherwise, the assets will be collected, but banks have to […] The post Banks find it hard to sell assets for NPLs recovery appeared first on Vietnam Business News.

Banks continue to ask for delay in Circular 02 application Posted: 19 Dec 2013 10:50 PM PST Halfway through the delayed time, banks continued to ask for further delay in implementation of Circular 02 for reason that health of the economy, banks and businesses haven't been recovered, local newswire Tri Thuc Tre reported. Circular 02, which regulates asset classification, the levels and methods of risk provisioning and the use of provisions to […] The post Banks continue to ask for delay in Circular 02 application appeared first on Vietnam Business News.

Agricultural loans accounts for nearly 20% of total outstanding loans Posted: 19 Dec 2013 10:50 PM PST At the conference on 3 years implementing Decree 41/2010/ND-CP, the State Bank of Vietnam (SBV) said lending to agriculture and rural development sector accounts for nearly 20% of total outstanding loans, local newswire Tri Thuc Tre reported. In 3 years of implementing Decree 41 on credit for agriculture and rural development (2010-2012), credit to this […] The post Agricultural loans accounts for nearly 20% of total outstanding loans appeared first on Vietnam Business News.

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