Thursday, August 14, 2014

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

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

Link to Vietnam Business News

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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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