Friday, March 28, 2014

The Business Times: POR8 stuns Vietnamese shrimp exporters

The Business Times: POR8 stuns Vietnamese shrimp exporters

Link to Vietnam Business News

POR8 stuns Vietnamese shrimp exporters

Posted: 27 Mar 2014 10:19 PM PDT

The nation's high anti-dumping tax on the shrimps from Vietnam at 25.76 percent has been decided by the US Department of Commerce (DOC) in the eighth period of review (POR8). But Vietnamese hope they still have the chances to petition for lower tax rates. The Competition Administration Department (CAD) on March 26 said that DOC […]

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Seminar promotes VN-South Africa trade

Posted: 27 Mar 2014 10:16 PM PDT

There is huge potential for co-operation in sectors such as mining, agriculture produce processing and the garment and textile industy between Viet Nam and South Africa, delegates said at a seminar yesterday in HCM City. Attending the forum were government officials, representatives of local firms and a delegation of sixteen South African enterprises seeking business […]

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Ho Chi Minh City’s GDP up 7.7 percent in Q1

Posted: 27 Mar 2014 10:14 PM PDT

Ho Chi Minh City saw a good sign of economic recovery with its GDP reaching 184.27 trillion VND ( 8.66 billion USD) in the first quarter of this year, a year-on-year increase of 7.7 percent. Chairman of the municipal People's Committee Le Hoang Quan made the remark at a recent meeting to review the city's […]

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Vietnam’s GDP could grow 13.6% in 2025, says Harvard professor

Posted: 27 Mar 2014 09:51 PM PDT

Vietnam will enjoy strong economic and trade expansion if the country signs the Trans-Pacific Partnership (TPP) agreement, with gross domestic product (GDP) growth forecast at 13.6% in 2025, said Professor Robert Z Lawrence from Harvard Kennedy School. Speaking at an international workshop on economic reform in Hanoi City on Tuesday, Lawrence said Vietnam's exports and […]

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FDI inflow drops off in first quarter

Posted: 27 Mar 2014 09:49 PM PDT

Newly registered and added foreign direct investment capital (FDI) tumbled to US$3.3 billion in the first quarter of this year, down by 49.6 per cent compared to the same period in 2013, according to the General Statistics Office. However, the country’s disbursement of FDI in the first quarter rose 5.6 per cent against the same […]

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New central bank rule feared to hold back bank sector restructuring

Posted: 27 Mar 2014 09:45 PM PDT

Legal changes provided in a new central bank circular are feared to have a negative impact on the progress of the already-slow banking sector restructuring, according to an updated report by Bao Viet Securities Company (BVSC). The central bank last week issued Circular 09/2014/TT-NHNN amending and supplementing a number of provisions in Circular 02/2013/TT-NHNN on […]

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HDBank supports package for city”s price stabilisation programme

Posted: 27 Mar 2014 09:42 PM PDT

HDBank, one of the first commercial banks in Viet Nam, on March 27 announced that it would offer VND1 trillion (US$47.6 million) to support companies taking part in HCM City’s price stabilisation programme in 2014.  The bank will spend VND200 billion ($9.5 million) to offer loans at an interest rate of 6 per cent a […]

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Vietnam central bank net withdraws VND5,996 Bln on Mar 27

Posted: 27 Mar 2014 09:40 PM PDT

The State Bank of Vietnam (SBV) net withdrew VND5,996 billion on March 27, 2014, local newswire NDH reported citing data from SSI Research. In details, the SBV neither pumped nor withdrew any money through open market operation (OMO). As of March 27, there is no outstanding loan on OMO. On the day, SBV issued VND7,996 […]

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BVSC issues report on bad debts in banking sector

Posted: 27 Mar 2014 09:38 PM PDT

Bao Viet Securities Co (BVSC) has recently issued an update report on banking operations, which gave assessments of bad debt risks of some listed banks. The bad debt risk of Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) is not high By the end of 2013, VCB worked with inspection agencies and asked data […]

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VIETNAM PRESS-Bitcoin trading is illegal in Vietnam – Thoi Bao Ngan Hang

Posted: 27 Mar 2014 09:35 PM PDT

Trading of bitcoin is illegal and not protected by the Vietnamese law, according to a State Bank of Vietnam official, the Thoi Bao Ngan Hang (Banking Times) newspaper reports. A Vietnamese company planned to open an online trading platform in Vietnam for bitcoin, but the government has not accepted bitcoin as a currency and thus […]

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