The Business Times: Credit growth to be 12-14% in 2015: SBV

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• Credit growth to be 12-14% in 2015: SBV
• ADB Expects to Fund Vietnam about USD1.24 Bln in 2015
• Vietnam mulls swapping sovereign bonds with debts for the third time
• Vietnam Airlines to replace all aircraft in three years
• Vietnam’s highway investment rate one of highest worldwide
• Overdue debts touch $2.9 billion
• Vietnamese-American billionaire among 1,000 richest people in the world
• US dollar millionaires to “explode” in Vietnam in ten years
• Foreign investors make big profits, then flee country
• Steel investors withdraw from project, leaving bad taste in locals’ mouths

Credit growth to be 12-14% in 2015: SBV Posted: 19 Sep 2014 07:56 PM PDT This is a target forecasted by of the State Bank of Vietnam (SBV) in the explanatory report for the hearing of Governor Nguyen Van Binh at the National Assembly Standing Committee on the coming September 29, local newswire VnEconomy reported. One of the bases for the above forecast is the social-economic development plan for 2015 […] The post Credit growth to be 12-14% in 2015: SBV appeared first on Vietnam Business News.

ADB Expects to Fund Vietnam about USD1.24 Bln in 2015 Posted: 19 Sep 2014 07:55 PM PDT The Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh on September 18, 2014 had a meeting with Takehiko Nakao, Chairman of the Asian Development Bank (ADB). Reportedly, during the period 1993 – 2013, ADB funded Vietnam USD12.5 billion. ADB expects to fund approximately USD1.37 billion in 2014 and USD1.24 billion in 2015. […] The post ADB Expects to Fund Vietnam about USD1.24 Bln in 2015 appeared first on Vietnam Business News.

Vietnam mulls swapping sovereign bonds with debts for the third time Posted: 19 Sep 2014 07:54 PM PDT Viet Nam is considering issuing US$1 billion in sovereign bonds for the third time to swap with debts that are becoming due next year. But the proposal still needs to be evaluated based on potential cost, use of national resources for commercial purposes and debt payment capacity. A consensus has so far been reached within […] The post Vietnam mulls swapping sovereign bonds with debts for the third time appeared first on Vietnam Business News.

Vietnam Airlines to replace all aircraft in three years Posted: 19 Sep 2014 07:53 PM PDT In the next three years, the national air carrier Vietnam Airlines will replace its current fleet of Boeing 777 and Airbus 330 aircraft with more modern ones. The information was disclosed by Vietnam Airlines CEO, Pham Ngoc Minh, at a press conference on the firm's equitization plan and initial public offering (IPO). Accordingly, the IPO […] The post Vietnam Airlines to replace all aircraft in three years appeared first on Vietnam Business News.

Vietnam’s highway investment rate one of highest worldwide Posted: 19 Sep 2014 07:46 PM PDT The investment rate in highway projects in Vietnam, one of the highest in the world, has resulted in higher road taxes for Vietnamese. The Noi Bai – Lao Cai Highway, the longest highway in Vietnam with the length of 245 kilometers, is scheduled to open on September 21. Vehicle owners have been told that the […] The post Vietnam's highway investment rate one of highest worldwide appeared first on Vietnam Business News.

Overdue debts touch $2.9 billion Posted: 19 Sep 2014 07:44 PM PDT Overdue debts at credit institutions in Ha Noi reached VND61.3 trillion (US$2.9 billion), or 6.72 per cent of the total outstanding loans, by the end of August. The statistics of the State Bank of Viet Nam’s Ha Noi branch showed that the total outstanding loans as of August 31 fell by 2.88 per cent against […] The post Overdue debts touch $2.9 billion appeared first on Vietnam Business News.

Vietnamese-American billionaire among 1,000 richest people in the world Posted: 19 Sep 2014 07:43 PM PDT The total value of assets of Hoang Kieu, a Vietnamese-American billionaire, just hit $2.8 billion, which placed the 70-year-old businessman on Forbes' list of the 1,000 richest billionaires in the world. According to Forbes, by mid-September, Hoang Kieu had become the businessman with the fastest-growing assets on its billionaire list. With $2.8 billion, Hoang Kieu […] The post Vietnamese-American billionaire among 1,000 richest people in the world appeared first on Vietnam Business News.

US dollar millionaires to “explode” in Vietnam in ten years Posted: 19 Sep 2014 07:42 PM PDT With a 166% growth forecast, in 2023 Vietnam will have 293 US dollar millionaires compared to the “modest” figure of 110 in 2013. According to the latest Prosperity Report 2014 by Knight Frank, if in 2013 the world had an additional 5,000 people (equivalent to an increase of 3%) joining the “club” of wealthy people, […] The post US dollar millionaires to "explode" in Vietnam in ten years appeared first on Vietnam Business News.

Foreign investors make big profits, then flee country Posted: 19 Sep 2014 07:41 PM PDT More and more foreign-invested enterprises (FIEs) have left Vietnam after making big money, leaving unpaid debts. Local newspapers one month ago reported that an Austrian investor had left Vietnam, leaving unpaid taxes and hundreds of workers who had not received salaries for July. The investor, an Austrian citizen, was Harald Biebl, the owner of Bach […] The post Foreign investors make big profits, then flee country appeared first on Vietnam Business News.

Steel investors withdraw from project, leaving bad taste in locals’ mouths Posted: 19 Sep 2014 07:40 PM PDT The mammoth $3 billion Guang Lian steel complex is very likely to be crossed off the list of foreign-invested projects in Vietnam as some investors have left, and the only remaining investor is considering leaving. JFE, the world's leading steel manufacturer from Japan, has decided to quit the $3 billion steel project in Dung Quat […] The post Steel investors withdraw from project, leaving bad taste in locals' mouths appeared first on Vietnam Business News.

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