The Business Times: 2,900 Firms Close Down in Q1

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• 2,900 Firms Close Down in Q1
• New Business Orders Pick Up in March
• Prawn Export Sees Increase in First Quarter
• Business Licence Fees May Triple
• Credit Flows into Manufacturing Sector
• Dong Interest Rates to Rise 1% in 2016
• Fitch Sets Five Vietnamese Bank’s Ratings
• M&As Pave Way for Projects
• Prospects for Ukraine-Vietnam cooperation stressed
• Multimillion-dollar steel and iron plant on the verge of death, waiting for contractor

2,900 Firms Close Down in Q1 Posted: 05 Apr 2016 11:38 PM PDT The shortage of long-term capital coupled with low competitiveness should be blamed for the rising number of firms going bankrupt and temporarily halting operations in the first quarter of 2016.According to Tran Hoang Ngan, a member of HCM City National Assembly Delegation, there were increases in new firms and shut-downs, reflecting a trend of firms The post 2,900 Firms Close Down in Q1 appeared first on Vietnam Business News.

New Business Orders Pick Up in March Posted: 05 Apr 2016 11:37 PM PDT The Vietnamese manufacturing sector continued to grow at the end of the first quarter as a faster rise in new business spurred a continued expansion of output, a Nikkei report said.The headline Nikkei Vietnam Manufacturing Purchasing Managers' Index (PMI) – a composite single-figure indicator of manufacturing performance – ticked up to 50.7 in March from The post New Business Orders Pick Up in March appeared first on Vietnam Business News.

Prawn Export Sees Increase in First Quarter Posted: 05 Apr 2016 11:36 PM PDT The export of prawn saw a year-on-year increase of 8.5 percent in the first two months of this year, earning the country 378.4 million USD, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).The increase was greatly attributed to the strong growth in the two major markets – the United States and China-Hong The post Prawn Export Sees Increase in First Quarter appeared first on Vietnam Business News.

Business Licence Fees May Triple Posted: 04 Apr 2016 11:38 PM PDT Business Licence Fees May Triple The business licence fee for enterprises is likely to double or triple in the coming period, according to a draft decree by the Ministry of Finance. Under the draft decree, the ministry has proposed four fee levels for businesses. For instance, businesses with registered capital of between 10 billion VND The post Business Licence Fees May Triple appeared first on Vietnam Business News.

Credit Flows into Manufacturing Sector Posted: 04 Apr 2016 11:38 PM PDT Credit Flows into Manufacturing Sector More bank loans over the past few years have gone to the manufacturing sector, according to a State Bank of Vietnam (SBV) report. The report said bank credit was increased by 5.3% per year to gain an extra 1% in economic growth per annum in the 2006-2010 period. In 2011-2015, The post Credit Flows into Manufacturing Sector appeared first on Vietnam Business News.

Dong Interest Rates to Rise 1% in 2016 Posted: 04 Apr 2016 11:38 PM PDT Dong Interest Rates to Rise 1% in 2016 Deposit interest rates in the Vietnamese dong this year are expected to rise 1 per cent against last year, according to a report from the National Financial Supervisory Commission (NFSC). According to the Government-run financial watchdog's latest report released this week, banks will see increasing capital needs The post Dong Interest Rates to Rise 1% in 2016 appeared first on Vietnam Business News.

Fitch Sets Five Vietnamese Bank’s Ratings Posted: 04 Apr 2016 11:37 PM PDT Fitch Sets Five Vietnamese Bank's Ratings Fitch Ratings has issued the long-term issuer default ratings (IDRs) on five Vietnamese banks. Under a Fitch Ratings press release late last week, the ratings of Agribank, Vietinbank and Vietcombank were affirmed at 'B+', while ACB and Military Bank were affirmed at 'B'. The rating agency also said all The post Fitch Sets Five Vietnamese Bank's Ratings appeared first on Vietnam Business News.

M&As Pave Way for Projects Posted: 04 Apr 2016 11:37 PM PDT M&As Pave Way for Projects Real estate developers are raising their land funds via mergers and acquisitions as well as stock purchases, instead of conducting land clearances and compensation, which often take time and money. According to Alex Crane, general director of Cushman & Wakefield Vietnam, foreign developers in particular are using mergers and acquisitions The post M&As Pave Way for Projects appeared first on Vietnam Business News.

Prospects for Ukraine-Vietnam cooperation stressed Posted: 04 Apr 2016 11:34 PM PDT Cooperation is strategic to Ukraine and Vietnam, according to Yulia Kovaliv, Ukraine's First Deputy Minister of Economic Development and Trade. Ukraine's First Deputy Minister of Economic Development and Trade Yulia Kovaliv (Source:Internet) Kovaliv, also Co-Chairperson of the Ukraine-Vietnam Intergovernmental Committee, said Ukraine will make the maximum effort to accelerate the two countries' cooperation. She has The post Prospects for Ukraine-Vietnam cooperation stressed appeared first on Vietnam Business News.

Multimillion-dollar steel and iron plant on the verge of death, waiting for contractor Posted: 04 Apr 2016 11:34 PM PDT photo source Vnexpress The plant's construction was kicked off in 2007 under the engineering, procurement and construction (EPC) contract with the initial investment capital of VND3.8 trillion ($170.4 million). The facility has a designed capacity of 500,000 metric tonnes of iron and steel products per year. In 2009, the expected cost of the project increased The post Multimillion-dollar steel and iron plant on the verge of death, waiting for contractor appeared first on Vietnam Business News.

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