The Business Times: HCMC: Many banks achieved only 40-60% profit plans of 2013

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• HCMC: Many banks achieved only 40-60% profit plans of 2013
• Vietnam remittances top $11 bln, half go to HCMC
• The lessons of EVN’s incompetence
• Investments from China could be the double edge knife
• Vietnam apartment market improves, triggers hope for 2014
• HCM City bourse to get new indices
• Promotions forbidden for telecom providers with poor services
• Plastic industry targets higher export growth in 2014
• Decree sets conditions for cash payments
• State treasury sells vnd6.712 tln G-bonds on jan 21; yields down

HCMC: Many banks achieved only 40-60% profit plans of 2013 Posted: 21 Jan 2014 11:58 PM PST In 2013, banks in Hochiminh City (HCMC) area in average achieved only 40-60% their profit plans of 2013, local newspaper Nguoi lao dong reported citing Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam (SBV)'s – HCMC branch. In 2013, 17 branches of credit institutions (CIs) incurred loss. However, none of 15 banks […] The post HCMC: Many banks achieved only 40-60% profit plans of 2013 appeared first on Vietnam Business News.

Vietnam remittances top $11 bln, half go to HCMC Posted: 21 Jan 2014 11:54 PM PST Vietnam received a remittance flood of US$11 billion in 2013, and 50 percent of the sum was dedicated to recipients in Ho Chi Minh City. With Vietnamese people living overseas and guest workers from 101 countries and territories sending home $11 billion last year, Vietnam ranks ninth in the top ten countries receiving the largest […] The post Vietnam remittances top $11 bln, half go to HCMC appeared first on Vietnam Business News.

The lessons of EVN’s incompetence Posted: 21 Jan 2014 11:52 PM PST Despite government assistance, many state-owned enterprises still operate ineffectively. In order to tap their potential, insightful analysis must be conducted, and lessons learnt to ensure that the restructuring process has the best possible results. Vietnam Association for Foreign Invested Enterprises chairman Nguyen Mai writes about the lessons available from the power and telecommunications sectors. Electricity […] The post The lessons of EVN's incompetence appeared first on Vietnam Business News.

Investments from China could be the double edge knife Posted: 21 Jan 2014 11:50 PM PST  Chinese investors have been flocking to Vietnam, pouring money into the two main business fields – textile & garments and real estate. Troy Griffiths from Savills Vietnam has confirmed that the real estate consultancy firm received a lot of Chinese investors who are seeking to purchase real estate projects. The great potentials can be brought […] The post Investments from China could be the double edge knife appeared first on Vietnam Business News.

Vietnam apartment market improves, triggers hope for 2014 Posted: 21 Jan 2014 11:48 PM PST With the residential market being buoyant towards the end of 2013 amid an upsurge in sales and a number of new launches, property services firm CBRE Vietnam expects a further consolidation this year. In Ho Chi Minh City the fourth quarter saw 2,702 units launched, taking the total number for the year to 6,114, a […] The post Vietnam apartment market improves, triggers hope for 2014 appeared first on Vietnam Business News.

HCM City bourse to get new indices Posted: 21 Jan 2014 11:46 PM PST The Ho Chi Minh City Stock Exchange is set to unveil several new indices on January 27, including the VNMidcap, VNSmallcap and VNAllsharecap. In 2012 it had announced its VN30 Index of 30 leading companies in terms of market capitalisation and liquidity. The VNMidcap will have 70 companies with lower market capitalisation than those in […] The post HCM City bourse to get new indices appeared first on Vietnam Business News.

Promotions forbidden for telecom providers with poor services Posted: 21 Jan 2014 09:56 PM PST Telecom companies and Internet providers will not be permitted to offer promotions if they do not ensure the quality of their services before and during the Tet (Lunar New Year) holiday. The directive was recently issued by the Ministry of Information and Communications. The ministry has asked telecom firms to increase their monitoring and prevent […] The post Promotions forbidden for telecom providers with poor services appeared first on Vietnam Business News.

Plastic industry targets higher export growth in 2014 Posted: 21 Jan 2014 09:54 PM PST The Vietnam Plastic Association (VPA) has reported 2013's plastic exports earned US$1.808 billion, a 13.3% annual improvement. VPA Chairman Ho Duc Lam highlighted the efforts of local plastic producers in pushing plastic input material exports up 57% to a 2013 revenue exceeding US$407 million. Vietnam's plastics industry is expecting to grow an additional 13.5–16.5% during 2014. Lam said […] The post Plastic industry targets higher export growth in 2014 appeared first on Vietnam Business News.

Decree sets conditions for cash payments Posted: 21 Jan 2014 09:51 PM PST The Government has issued Decree No.222/2013/ND-CP (31 December 2013) regulating payments in cash and the State management of payments in cash in some specific types of transactions on Vietnamese territory. The Decree applies to the State Bank of Viet Nam (“SBV”), credit institutions, foreign banks’ branches and organisations and individuals making payments in cash. For […] The post Decree sets conditions for cash payments appeared first on Vietnam Business News.

State treasury sells vnd6.712 tln G-bonds on jan 21; yields down Posted: 21 Jan 2014 09:49 PM PST The State Treasury on January 21, 2014 sold VND6.712 trillion worth of government bonds out of VND7 trillion auctioned at the Hanoi Stock Exchange (HNX) at the yields of 6.77-8.19% p.a, local newswire NDH reported. In the auction, the State Treasury planned to sell VND7 trillion worth of government bonds, distributed at VND3 trillion, VND2 […] The post State treasury sells vnd6.712 tln G-bonds on jan 21; yields down appeared first on Vietnam Business News.

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