The Business Times: Economic experts expect a modestly positive 2014

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• Economic experts expect a modestly positive 2014
• PVN plans to implement 24 oil and gas project in 2014
• Vietnam runs $1bln trade surplus in november 2013: Customs
• Users unhappy with Vietnam plan for anti dumping taxes on stainless steel imports
• HCMC to cut car registration fee to 15% or 10% from jan 1, 2014
• Vietnam tells banks to halt ”unhealthy” loans given at low rates
• Little room to further cut interest rates: SSI
• Time running out for bank restructuring
• TABLE-Vietnam banks” assets, registered capital
• SBV’s treasury bills: increasing issuance volume and payable interest

Economic experts expect a modestly positive 2014 Posted: 13 Dec 2013 11:00 PM PST The economy will gradually recover over the 2014–2015 period with inflation kept at a single digit. The Ministry of Planning and Investment's National Information and Socio-Economic Forecasting Centre predicts  the 2014 reduction in corporate income tax, from 25% to 22%, will be a boon to business activity upon taking effect. Fiscal policies in 2014–2015 will [...] The post Economic experts expect a modestly positive 2014 appeared first on Vietnam Business News.

PVN plans to implement 24 oil and gas project in 2014 Posted: 13 Dec 2013 10:56 PM PST Vietnam National Oil & Gas Group (PVN) plans to implement 24 oil and gas projects next year to ensure national energy security, the group reported in its portal pvn.vn. Of the sum, there will be 6 exploitation and exploration projects, 7 projects of petroleum processing and refining, 5 projects of industrial gas and other 6 [...] The post PVN plans to implement 24 oil and gas project in 2014 appeared first on Vietnam Business News.

Vietnam runs $1bln trade surplus in november 2013: Customs Posted: 13 Dec 2013 10:54 PM PST Vietnam is estimated to run more than $1 billion trade surplus in November, the General of Vietnam Customs said in its website today [Dec 13], citing its preliminary statistics. In details, Vietnam shipped $11.99 billion worth of goods in November, down 4.9% from October while it imported $10.99 billion worth of goods in the month, [...] The post Vietnam runs $1bln trade surplus in november 2013: Customs appeared first on Vietnam Business News.

Users unhappy with Vietnam plan for anti dumping taxes on stainless steel imports Posted: 13 Dec 2013 10:49 PM PST Vietnam is considering anti dumping duties on stainless steel imports following a demand from the local industry despite vehement protests from users. The Vietnam Competition Authority has ruled that mainland China, Malaysia, Indonesia, and Taiwan dump stainless steel, and called on the trade ministry to impose taxes of 6.45 to 30.73% on their products for [...] The post Users unhappy with Vietnam plan for anti dumping taxes on stainless steel imports appeared first on Vietnam Business News.

HCMC to cut car registration fee to 15% or 10% from jan 1, 2014 Posted: 13 Dec 2013 10:45 PM PST Ho Chi Minh City (HCMC) People’s Committee has just approved to cut registration fees for the first time for cars to 10% from Jan 1, 2014, replacing the current rate of 15%, dddn.com.vn reported. The rate would be 2% from the second time of registration. Source: StoxPlus The post HCMC to cut car registration fee to 15% or 10% from jan 1, 2014 appeared first on Vietnam Business News.

Vietnam tells banks to halt ”unhealthy” loans given at low rates Posted: 13 Dec 2013 10:30 PM PST Vietnam’s central bank, which wants commercial banks to step up their lending, said some are making loans at interest rates lower than what they pay for deposits, and it warned them to stop the “unhealthy” practice. “Several credit institutions have accepted to lend at rates below the deposit rate, which is a sign of unhealthy [...] The post Vietnam tells banks to halt ”unhealthy” loans given at low rates appeared first on Vietnam Business News.

Little room to further cut interest rates: SSI Posted: 13 Dec 2013 10:25 PM PST According to analysts at Saigon Securities Inc. (SSI), there is little room for further reducing interest rates, local newswire NDH reported. In a recent speech, the State Bank of Vietnam (SBV)'s Governor Nguyen Van Binh said that, in 2014, the targets are inflation of 6.5 – 7%, GDP growth of 5.8%, credit growth of 12-14%, [...] The post Little room to further cut interest rates: SSI appeared first on Vietnam Business News.

Time running out for bank restructuring Posted: 13 Dec 2013 10:22 PM PST The State Bank of Viet Nam (SBV) has discovered two more weak banks and six credit institutions to be restructured this year, along with nine other banks now being monitored. The work to shore up these banks is likely to be hastened, as the central bank and the targeted institutions have only two weeks to [...] The post Time running out for bank restructuring appeared first on Vietnam Business News.

TABLE-Vietnam banks” assets, registered capital Posted: 13 Dec 2013 10:19 PM PST The following table updates the assets and registered capital of banks in Vietnam, based on their latest published reports. NOTE: * Updated; unit: billions of dong FULLY STATE-OWNED BANKS MM/YR ASSETS REG CAP Agribank 10-13 *671,846.0 29,605 #Vietnam Development Bank 12-11 274,708.1 10,291 State Bank of Vietnam 10,000 #Vietnam Bank for Social Policies 12-12 119,026.0 [...] The post TABLE-Vietnam banks” assets, registered capital appeared first on Vietnam Business News.

SBV’s treasury bills: increasing issuance volume and payable interest Posted: 13 Dec 2013 10:12 PM PST The State Bank of Vietnam (SBV)'s Treasury bills are monetary tools commonly used in emergencies targeting short-term goals. In recent years, the issuance volume and interest costs have kept increasing, local newswire Tri Thuc Tre reported. The only compelling reason for the issuance of SBV's T- bills in the past two years is to withdraw [...] The post SBV’s treasury bills: increasing issuance volume and payable interest appeared first on Vietnam Business News.

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