The Business Times: Supporting industries to be developed

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• Supporting industries to be developed
• PetroVietnam secures oil deal with Russia’s Rosneft
• Central bank says to intervene in gold market
• Banks benefit from special debt settlement for Vinashin
• Financial markets getting stable despite tensions in the East Sea
• NA backs Viet Kieu’s home ownership
• Vietnamese rice perceived as ‘cheap’
• Poor labor productivity a drain on the economy
• Joint project offers lower rate loans to businesses in Ha Noi
• Agricultural exports see value growth

Supporting industries to be developed Posted: 28 May 2014 01:02 AM PDT Vietnamese and foreign entrepreneurs discussed ways to develop the country’s support industries at a forum in HCM City last week. Nguyen Van Tuan, deputy director of the Investment and Trade Promotion Centre (ITPC) of HCM City, said support industries have much room to develop since they are in their infancy. HCM City considers their development […] The post Supporting industries to be developed appeared first on Vietnam Business News.

PetroVietnam secures oil deal with Russia’s Rosneft Posted: 28 May 2014 12:59 AM PDT Russian firm Rosneft will provide six million tonnes of oil annually via the Kozmino terminal during the 2014-39 period for the Dung Quat Oil Refinery in Viet Nam. The Kozimo terminal is an oil pipeline extending from Eastern Siberia to the Pacific Ocean. According to a Rosneft press release on May 24, the major terms […] The post PetroVietnam secures oil deal with Russia’s Rosneft appeared first on Vietnam Business News.

Central bank says to intervene in gold market Posted: 28 May 2014 12:56 AM PDT The State Bank of Vietnam (SBV) said in a statement released on May 25 that it is always ready to intervene in the gold market that has become volatile in recent days. A source told the Daily that the central bank has stocked up on a large amount of gold bars since late January. Therefore, […] The post Central bank says to intervene in gold market appeared first on Vietnam Business News.

Banks benefit from special debt settlement for Vinashin Posted: 28 May 2014 12:55 AM PDT Commercial banks have been allowed to keep Vinashin's bad debts in "pending" status and do not have to declare the debt as bad debt on their financial reports. They can also make provisions against risks in accordance with their financial capabilities. In its golden age, Vinashin, a once-leading group in shipbuilding (an industry that Vietnam […] The post Banks benefit from special debt settlement for Vinashin appeared first on Vietnam Business News.

Financial markets getting stable despite tensions in the East Sea Posted: 28 May 2014 12:54 AM PDT Financial experts have urged investors to stay calm and not transfer assets to gold or dollars as the East Sea problem can be settled. Vietnamese investors several days ago rushed to bargain for securities and withdraw their deposits from banks to buy gold and dollars amid the East Sea tensions. The extreme reactions by the […] The post Financial markets getting stable despite tensions in the East Sea appeared first on Vietnam Business News.

NA backs Viet Kieu’s home ownership Posted: 28 May 2014 12:54 AM PDT The National Assembly (NA) Legal Committee at the NA session in Hanoi on Saturday approved in principle a proposal for allowing overseas Vietnamese, locally known as Viet Kieu, foreign organizations and individuals to own homes in the country. Having heard a presentation on the draft amendments to the Housing Law by Minister of Construction Trinh […] The post NA backs Viet Kieu's home ownership appeared first on Vietnam Business News.

Vietnamese rice perceived as ‘cheap’ Posted: 28 May 2014 12:52 AM PDT Economists have called the low bids offered by Vinafood 1 and Vinafood 2 to provide 800,000 tons of rice to the Philippines a "blunder" because it has led to the perception that Vietnamese rice is "cheap". The low bid helped the two largest rice-export groups win the contract over their rivals. However, many rice- export […] The post Vietnamese rice perceived as 'cheap' appeared first on Vietnam Business News.

Poor labor productivity a drain on the economy Posted: 28 May 2014 12:51 AM PDT A cheap labor force is no longer a great advantage for Vietnam in attracting foreign direct investment (FDI), while a low labor productivity rate is not helping matters, either. The latest report released by the International Labor Organization (ILO) showed that the Vietnamese labor productivity rate in 2013 was among the lowest in Asia Pacific. […] The post Poor labor productivity a drain on the economy appeared first on Vietnam Business News.

Joint project offers lower rate loans to businesses in Ha Noi Posted: 27 May 2014 09:59 PM PDT Businesses in the capital can access loans with interest rates of 7–8 per cent per year under a programme to remove difficulties for businesses. The programme, initiated by the Ha Noi People’s Committee, connects banks and businesses in the capital and is aimed to have commercial banks support credit for businesses at reasonable interest rates. […] The post Joint project offers lower rate loans to businesses in Ha Noi appeared first on Vietnam Business News.

Agricultural exports see value growth Posted: 27 May 2014 09:56 PM PDT Viet Nam gained a year-on-year increase of 10.4 per cent in the value of farm, forestry and aquatic exports to US$12.1 billion during the first five months of this year. Of this, export values reached $5.94 billion for farming products, 5.1 per cent higher than the same period last year; $2.83 billion for seafood products, […] The post Agricultural exports see value growth appeared first on Vietnam Business News.

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