The Business Times: Forex policy will account for industry’s benefit: SBV

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• Forex policy will account for industry’s benefit: SBV
• Retailers cut gas prices again
• LienVietPostBank targets $44.5 million in 2015 profit
• Shares slump on draining liquidity
• Low Vietnamese rice export in Q1
• Tien Sa Port developer turns down ODA
• Vietnam’s per capital GDP ranks 7th in ASEAN region
• True Milk opens $1 billion plant in Moscow
• Ministry says bauxite projects likely to incur initial losses
• Vietnam to cut taxes on 3,200 Japanese goods to zero starting April

Forex policy will account for industry’s benefit: SBV Posted: 01 Apr 2015 06:36 PM PDT The State Bank of Viet Nam (SBV)’s foreign exchange policy will be based on macroeconomic management and harmonised with the benefits of all industries and sectors, and not exports alone. This statement was made by the Deputy Director of SBV’s Credit Department, Vo Minh Tuan. The central bank’s foreign exchange (forex) adjustment is based on […] The post Forex policy will account for industry’s benefit: SBV appeared first on Vietnam Business News.

Retailers cut gas prices again Posted: 01 Apr 2015 06:36 PM PDT The retail price of a 12kg-canister of cooking gas in HCM City has dropped by VND4,500 (21 US cents) from April 1. This was announced at a meeting of gas companies in HCM City and the southern localities on March 31. The gas distributor in the southern region is now selling its 12kg cooking gas […] The post Retailers cut gas prices again appeared first on Vietnam Business News.

LienVietPostBank targets $44.5 million in 2015 profit Posted: 01 Apr 2015 06:31 PM PDT Lien Viet Joint Stock Commercial Bank (LienVietPostBank) aims to increase its profit 75 per cent to VND936 billion (US$44.5 million) this year, Board of Directors Vice President Nguyen Duc Huong said at a shareholder meeting on Saturday. The bank earned VND535 billion ($25.4 million) in before-tax profits last year, a decrease of 19.4 per cent […] The post LienVietPostBank targets $44.5 million in 2015 profit appeared first on Vietnam Business News.

Shares slump on draining liquidity Posted: 01 Apr 2015 06:31 PM PDT Shares continued their downward spiral this morning after making modest recovery yesterday, as investors became cautious over draining liquidity. On the HCM Stock Exchange, the VN-Index lost 0.93 per cent to close at 546.03 points, while the VN30, which tracks the top 30 shares by market value and liquidity, dropped 0.63 per cent to end […] The post Shares slump on draining liquidity appeared first on Vietnam Business News.

Low Vietnamese rice export in Q1 Posted: 01 Apr 2015 06:29 PM PDT Vietnam shipped 536,570 tonnes of rice worth 236 million USD abroad during the first quarter of this year, marking the lowest Q1 figures since 2009, announced Huynh The Nang, Deputy Chairman of the Vietnam Food Association (VFA). Vietnam shipped 536,570 tonnes of rice worth 236 million USD abroad during the first quarter of this year, […] The post Low Vietnamese rice export in Q1 appeared first on Vietnam Business News.

Tien Sa Port developer turns down ODA Posted: 01 Apr 2015 06:28 PM PDT Infrastructure developers prefer seeking capital from domestic and foreign commercial loans than official development assistance (ODA), which is in the long run more expensive than people think "If we cannot find capital for the Tien Sa Port expansion project, I will step down," said Nguyen Huu Sia, general director of the Da Nang Port JSC […] The post Tien Sa Port developer turns down ODA appeared first on Vietnam Business News.

Vietnam’s per capital GDP ranks 7th in ASEAN region Posted: 01 Apr 2015 06:28 PM PDT Vietnam's per capital GDP reached USD1,908 a year in 2013, ranking it seventh in the 10-member ASEAN region, according to the General Statistics Office (GSO). Gap in per capital GDP between Vietnam and regional countries narrrows The GSO said the report by the ASEAN Statistics agency (ASEAN Stats) about Vietnam's economic growth in 2013 showed […] The post Vietnam’s per capital GDP ranks 7th in ASEAN region appeared first on Vietnam Business News.

True Milk opens $1 billion plant in Moscow Posted: 01 Apr 2015 10:01 AM PDT Vietnamese dairy firm TH True Milk opened a US$1-billion dairy in a Moscow suburb, Vietnamese Ambassador to Russia, Nguyen Thanh Son, said yesterday. Son told the vn.sputniknews.com the plant would produce its own animal feed and breed its own cows. He also said other Vietnamese firms involved in garments, agriculture and food in Viet Nam […] The post True Milk opens $1 billion plant in Moscow appeared first on Vietnam Business News.

Ministry says bauxite projects likely to incur initial losses Posted: 01 Apr 2015 10:00 AM PDT The two bauxite mining and processing projects in the Central Highlands Province of Lam Dong, which became operational in October 2013, would incur losses for four to five years. This was revealed by the Ministry of Industry and Trade (MoIT) in a press statement released to the media on Monday. The ministry said an assessment […] The post Ministry says bauxite projects likely to incur initial losses appeared first on Vietnam Business News.

Vietnam to cut taxes on 3,200 Japanese goods to zero starting April Posted: 01 Apr 2015 09:58 AM PDT Thousands of goods imported from Japan will enjoy a zero tariff in Vietnam starting April 1 in the next implementation stage of a bilateral trade agreement between the two countries. Vietnam will reduce the tariffs for 3,234 classes of imports to 0 percent under the Japan-Vietnam Economic Partnership Agreement for the 2015-2019 period, according to […] The post Vietnam to cut taxes on 3,200 Japanese goods to zero starting April appeared first on Vietnam Business News.

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