The Business Times: VN needs only five big banks

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• VN needs only five big banks
• Trade deficit $3.1b as imports increase 18.9%
• ‘Cement should be top export’
• Experts: Vietnam less attractive to foreign investors
• PM Dung expects to conclude TPP talks with U.S. soon
• Metro denies tax rule violation allegations
• Bank interest rates forecast to fall in Q2
• Jetstar to launch HCMC-Chu Lai service next month
• New rule requires credit ratings for corporate bonds
• Vietnam consumer confidence dips for second month – survey

VN needs only five big banks Posted: 23 Apr 2015 07:57 PM PDT Viet Nam should have only five major banks that provide financial services and support domestic businesses, as well as effectively compete with foreign banks, which are about to enter the country. Keith Pogson, managing partner at Asia Pacific Financial Services for Ernst & Young, spoke with the local media about the banking situation in Viet […] The post VN needs only five big banks appeared first on Vietnam Business News.

Trade deficit $3.1b as imports increase 18.9% Posted: 23 Apr 2015 07:56 PM PDT The country’s total export and import turnover reached US$88.4 billion by April 15, a year-on-year increase of 13.9 per cent, according to the General Department of Viet Nam Customs. The country’s total export turnover was $42.65 billion by April 15, up 9 per cent year over year, and total import turnover reached $45.76 billion, up […] The post Trade deficit $3.1b as imports increase 18.9% appeared first on Vietnam Business News.

‘Cement should be top export’ Posted: 23 Apr 2015 07:56 PM PDT Viet Nam should have a long-term strategy to make cement a large-scale and high-value export product to give a boost to the country’s export revenue, said Deputy Minister of Construction Nguyen Tran Nam. Nam told the “Exporting cement towards sustainable development” conference held in Ha Noi yesterday that he supports growing cement exports since the […] The post 'Cement should be top export’ appeared first on Vietnam Business News.

Experts: Vietnam less attractive to foreign investors Posted: 23 Apr 2015 07:54 PM PDT Vietnam has turned less attractive to foreign investors than other regional countries due to complicated and time-consuming procedures, corruption and poor service quality. Experts warned of this worrying situation on the second and final day of the Spring Economic Forum 2015 in Nghe An Province yesterday. Dau Anh Tuan, head of the Legal Department at […] The post Experts: Vietnam less attractive to foreign investors appeared first on Vietnam Business News.

PM Dung expects to conclude TPP talks with U.S. soon Posted: 23 Apr 2015 07:53 PM PDT Prime Minister Nguyen Tan Dung said he expects Vietnam and the United States to wrap up negotiations over the Trans-Pacific Partnership (TPP) agreement soon in spite of some remaining issues. At a meeting with U.S. trade representative Michael Froman in Hanoi yesterday, PM Dung said the two countries had made remarkable progress in the negotiations […] The post PM Dung expects to conclude TPP talks with U.S. soon appeared first on Vietnam Business News.

Metro denies tax rule violation allegations Posted: 23 Apr 2015 07:52 PM PDT Metro Cash & Carry Vietnam said on April 22 that it always complied with Vietnam's business regulations and laws. The wholesale firm spoke up after local media reported that the General Department of Taxation said it would collect tax arrears totaling VND507 billion (US$23.5 million) from Metro. The firm said in a statement that it […] The post Metro denies tax rule violation allegations appeared first on Vietnam Business News.

Bank interest rates forecast to fall in Q2 Posted: 23 Apr 2015 07:50 PM PDT More than half of credit institutions partaking in a recent survey conducted by the State Bank of Vietnam (SBV) projected that interest rates would drop slightly in the second quarter of this year. According to the SBV’s Monetary Statistics and Forecast Department, over 50% of local banks and foreign bank branches expected interest rates to […] The post Bank interest rates forecast to fall in Q2 appeared first on Vietnam Business News.

Jetstar to launch HCMC-Chu Lai service next month Posted: 23 Apr 2015 07:50 PM PDT Jetstar Pacific Airlines said yesterday that it will start three weekly services between HCMC and Chu Lai of Quang Nam Province on May 19. The low-cost carrier will operate HCMC-Chu Lai flights on Tuesdays, Thursdays and Saturdays using Airbus A320 aircraft. Its flights will depart from Tan Son Nhat airport at 11:20 a.m. and from […] The post Jetstar to launch HCMC-Chu Lai service next month appeared first on Vietnam Business News.

New rule requires credit ratings for corporate bonds Posted: 23 Apr 2015 07:49 PM PDT Domestic enterprises will have to get credit ratings for their bond sale plans from 2020 as required by the Prime Minister's recent decision that approves a scheme to develop credit rating services in the country. Credit ratings for corporate bonds will be one of the major changes to the domestic bond market as outlined in […] The post New rule requires credit ratings for corporate bonds appeared first on Vietnam Business News.

Vietnam consumer confidence dips for second month – survey Posted: 23 Apr 2015 07:49 PM PDT Vietnam's consumer confidence has continued dropping slightly this month although the economy has shown clearer signs of recovery as reflected in a recent survey of ANZ Vietnam Bank. The ANZ-Roy Morgan Vietnam Consumer Confidence has fallen for the second month to 140.2, down 1.3 points, this month with the fall driven by small declines in […] The post Vietnam consumer confidence dips for second month – survey appeared first on Vietnam Business News.

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