Friday, June 17, 2016

The Business Times: Vietnam Forex Reserves Hit Record High of $38 Billion

The Business Times: Vietnam Forex Reserves Hit Record High of $38 Billion

Link to Vietnam Business News

Vietnam Forex Reserves Hit Record High of $38 Billion

Posted: 16 Jun 2016 02:20 AM PDT

Vietnam’s foreign exchange reserves have risen 26.6 percent this year to around US$38 billion, the highest ever level, news website Saigon Times Online quoted the central bank governor as saying. The State Bank of Vietnam has bought nearly $8 billion this year, Le Minh Hung said. He expected a continued rise, and said gold reserves

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SBV Asks for Monthly Reports on Lending Interest Rate

Posted: 16 Jun 2016 02:00 AM PDT

SBV Asks for Monthly Reports on Lending Interest Rate The State Bank of Vietnam (SBV) recently issued Document No. 4393/NHNN-CSTT demanding monthly reports on lending interest rate in VND. The SBV asked foreign credit institutions and commercial banks to build plans and implement measures to decrease lending interest rate in VND in accordance with Circular

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Formosa textiles firm faces industrial dispute

Posted: 15 Jun 2016 10:15 AM PDT

600 workers at Taiwan's Formosa Textile Company in Ba Ria-Vung Tau Province have gone on strike to protest against what they describe as unreasonable regulations.   600 workers strike at Taiwan's Formosa Textile Company On June 11, about 600 out of 1,000 workers at Formosa Textile Company went on strike. According to the workers, they

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57 Vietnamese businesses allowed to export Pangasius to US

Posted: 15 Jun 2016 10:15 AM PDT

The US Department of Agriculture's Food Safety and Inspection Service (FSIS) has agreed to add 12 Vietnamese businesses to the list of eligible pangasius fish (Siluriformes) exporters to the US. Thus, now 57 Vietnamese businesses are allowed to export pangasius to the US, the National Agro-Forestry-Fisheries Quality Assurance Department (NAFIQAD) said.To avoid obstacles in shipping

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New law drafted to fuel boom in SMEs

Posted: 15 Jun 2016 10:15 AM PDT

Vietnam is drafting a law on extending support to small and medium-sized enterprises (SMEs). Agricultural products being processed at Nam Huy Dong Thap Company in southern Dong Thap Province. A law on extending support to SMEs company is being drafted. It is part of the Government's determined efforts to promote the development of the business

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ADB Trade finance programme expands presence in Vietnam

Posted: 15 Jun 2016 10:15 AM PDT

The Asian Development Bank (ADB) and Orient Commercial Joint Stock Bank (OCB) have signed an agreement under which ADB's Trade Finance Program (TFP) will provide guarantees of up to $20 million a year to support trade in Vietnam. OCB's participation means the TFP now has 12 bank partnerships in Vietnam. "Under this agreement, ADB and

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10 Vietnamese brands among Asia’s top 1,000

Posted: 15 Jun 2016 10:15 AM PDT

Ten Vietnamese brands are listed among Asia's top 1,000 brands, of which Vietjet Air is among top 500, according to global marketing research company Nielsen. Vietjet Air ranks 490 while other Vietnamese brands among top 1000 are Viettel (501), Petrolimex (512), Vinamilk (558), Mobifone (605), Trung Nguyen (626), HaoHao (654), Vietnam Airlines (708), Vietcombank (753)

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Inspection to probe industry & trade ministry nepotism

Posted: 15 Jun 2016 10:15 AM PDT

 >>  Former trade and industry minister under fire for nepotism Minister of Industry and Trade Tran Tuan Anh has requested an investigation into how the son of former minister Vu Huy Hoang was appointed to key positions in major firms owned by the ministry. Former Minister of Industry and Trade Vu Huy Hoang has been

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Tourism falling behind regionally

Posted: 15 Jun 2016 10:15 AM PDT

Thailand, Singapore and Malaysia doing much better than Vietnam in tourism promotion, international arrivals, and growth. Illustrative photo The latest figures from the Vietnam National Administration of Tourism (VNAT) reveal that investment in tourism promotion remains quite low, at just $2 million per year, or 2.9 per cent of that spent by Thailand, 2.5 per

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Fisheries quality agency rejects rumor on impurity injection into shrimp

Posted: 15 Jun 2016 10:13 AM PDT

A shrimp processing plant in the Mekong Delta (Photo: SGGP) In addition, the department has sent a document to inform the Taipei Economic and Cultural Office in Hanoi of the inspection result. According to the department, Vietnamese shrimp exporters to Taiwan (China) have closely controlled over material quality to meet food safety standards and ensure

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