The Business Times: Vinashinlines’ multibillion-dong ships sit and rust after bankruptcy decision

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• Vinashinlines’ multibillion-dong ships sit and rust after bankruptcy decision
• PM says country needs new statistical method to calculate GDP figures
• Slow disbursements make ODA projects less efficient
• Banks’ settlement of debts hindered by asset regulations
• Thai billionaires seek to dominate Vietnam retail market
• Japan quickly disburses FDI in Binh Duong
• Vietnam’s first ETF lures investor interest
• Military Bank wins GPEA award for excellence
• Foreign investors allowed to open dong accounts
• Proposed draft law permits 21-year-olds to gamble

Vinashinlines’ multibillion-dong ships sit and rust after bankruptcy decision Posted: 13 Aug 2014 08:01 PM PDT Having a book value of VND1 trillion and original investment capital of VND1.6 trillion, the ships of Vinashinlines may eventually be sold at scrap iron prices as complicated bankruptcy procedures have stalled its operations. Vinashinlines, a large ocean shipping firm, still has not found a perfect solution to deal with its fleet over the last […] The post Vinashinlines' multibillion-dong ships sit and rust after bankruptcy decision appeared first on Vietnam Business News.

PM says country needs new statistical method to calculate GDP figures Posted: 13 Aug 2014 07:59 PM PDT The methods local authorities are using to calculate the gross domestic product (GDP) are inaccurate and impractical, and not used in any country in the world, the Prime Minister said at a Ministry of Planning and Investment's conference held on August 7. "Local authorities all report high GDP growth rates of 9, 10, 11, 13 […] The post PM says country needs new statistical method to calculate GDP figures appeared first on Vietnam Business News.

Slow disbursements make ODA projects less efficient Posted: 13 Aug 2014 07:59 PM PDT The HCMC government said slow capital disbursements have made inroads into the efficiency of the projects funded by official assistance development (ODA) in the southern city. The city has 22 ODA-funded projects with total capital of nearly VND120 trillion, according to the city government's report on limitations in attracting, managing and using ODA loans sent […] The post Slow disbursements make ODA projects less efficient appeared first on Vietnam Business News.

Banks’ settlement of debts hindered by asset regulations Posted: 13 Aug 2014 07:57 PM PDT The regulation that banks cannot sell mortgaged assets below face value is the biggest barrier hindering debt settlement Nguyen Quoc Hung, chair of the Vietnam Asset Management Company (VAMC), an arm of the State Bank in charge of buying debts from banks to help liberalize banks from bad debts, said VAMC bought VND11.414 trillion worth […] The post Banks' settlement of debts hindered by asset regulations appeared first on Vietnam Business News.

Thai billionaires seek to dominate Vietnam retail market Posted: 13 Aug 2014 07:52 PM PDT The news that German Metro AG is selling its wholesale operations and real estate portfolio in Vietnam to Beri Jucker (BJC) owned by Thai billionaire Charoen Sirivadhanabhakdi for US$879 million has  met with mixed reviews. Many leading market analysts believe it evidences Thai billionaires' ambitions to conquer the Vietnamese retail market. Chirathivat family Tos Chirathivat […] The post Thai billionaires seek to dominate Vietnam retail market appeared first on Vietnam Business News.

Japan quickly disburses FDI in Binh Duong Posted: 13 Aug 2014 07:49 PM PDT Japan remains the largest foreign investor of southern Binh Duong province with more than 220 projects and foreign direct investment (FDI) disbursements of nearly US$5 billion. Most Japan-invested projects are in the areas of high-tech, electronic outsourcing, medical equipment, high-quality food processing, infrastructure and urban areas. Mai Hung Dung, Director of the Binh Duong provincial […] The post Japan quickly disburses FDI in Binh Duong appeared first on Vietnam Business News.

Vietnam’s first ETF lures investor interest Posted: 13 Aug 2014 07:48 PM PDT Over one month after launching its initial public offering (IPO), Vietnam’s first exchange-traded fund (ETF), VFMVN30, has begun attracting investor interest. Managed by Vietfund Management Company, the fund had a minimum initial capital of VND50 billion (US$2.35 million). However, Pham Khanh Lynh, deputy general director of the company, believed VFMVN30 could raise VND100 billion (US$4.7 […] The post Vietnam’s first ETF lures investor interest appeared first on Vietnam Business News.

Military Bank wins GPEA award for excellence Posted: 13 Aug 2014 07:47 PM PDT The Asia Pacific Quality Organization (APQO) has selected the Vietnam Military Commercial Joint Stock Bank (MB) for its coveted World Class Global Performance Excellence Award (GPEA) for 2014. MB is the only bank in Vietnam to have ever been nominated for the prestigious award. Annually the APQO honours exemplary organizations from six Asian and Pacific […] The post Military Bank wins GPEA award for excellence appeared first on Vietnam Business News.

Foreign investors allowed to open dong accounts Posted: 13 Aug 2014 07:46 PM PDT Foreign direct investment (FDI) enterprises and foreign investors can now open direct investment capital accounts in Vietnamese dong from September 25, besides accounts in foreign currencies. This was one of the most important regulations in the circular 19/2014/TT-NHNN issued by the State Bank of Vietnam on August 11 to explain the Decree 70/2014/ND-CP about the […] The post Foreign investors allowed to open dong accounts appeared first on Vietnam Business News.

Proposed draft law permits 21-year-olds to gamble Posted: 13 Aug 2014 07:43 PM PDT Vietnamese citizens at least 21 years old may become eligible to gamble at casinos in Vietnam, according to a new draft on casino business by the Ministry of Finance (MoF). The proposal is considered the most important change in legislation allowing Vietnamese people to enter casinos for gambling. Under the MoF's previous draft, only foreigners […] The post Proposed draft law permits 21-year-olds to gamble appeared first on Vietnam Business News.

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