The Business Times: Vietnam’s Banking Sector Remains at High Risk: Moody’s

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• Vietnam’s Banking Sector Remains at High Risk: Moody’s
• EAEU-Vietnam FTA confirmed to take effect in October
• Vietnamese fruit loses market share at home
• FDI disbursement reaches $10 bln in first eight months
• Big C Vietnam pays off $93 million tax arrears
• SBV warns banks about fraudulent payments
• Vietnam attracts 900,000 foreign tourists in August
• Garment factory data revised
• Deeper economy drives growth
• IPI rises 6.9% in eight months

Vietnam’s Banking Sector Remains at High Risk: Moody’s Posted: 04 Sep 2016 01:29 AM PDT Vietnam's Banking Sector Remains at High Risk: Moody's The Investors Service Moody's has just released its assessment on credit rating of Vietnam as B1, meaning the country's credit profile condition is relatively stable with moderate chance of default. This was supported by the country's robust economic growth and diversified economy, said Moody's. Vietnam, however, is The post Vietnam’s Banking Sector Remains at High Risk: Moody’s appeared first on Vietnam Business News.

EAEU-Vietnam FTA confirmed to take effect in October Posted: 04 Sep 2016 01:29 AM PDT The free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and Vietnam will take effect on October 5, Minister for Trade at the Eurasian Economic Commission Board Veronika Nikishina has said. Minister for Trade at the Eurasian Economic Commission Board Veronika Nikishina (Photo: therussophile.org) She made the confirmation at the second Eastern Economic Forum The post EAEU-Vietnam FTA confirmed to take effect in October appeared first on Vietnam Business News.

Vietnamese fruit loses market share at home Posted: 04 Sep 2016 01:29 AM PDT In Hanoi, imported fruit is priced reasonably and sells well. For example, apples imported from the US and New Zealand are only VND56,000 to VND70,000 ($2.5-3) per kilo, similar to the prices of some local fruits like Hoa Loc mango or mangosteen.   According to the Ministry of Agriculture and Rural Development, about 17,000 to The post Vietnamese fruit loses market share at home appeared first on Vietnam Business News.

FDI disbursement reaches $10 bln in first eight months Posted: 04 Sep 2016 01:27 AM PDT In the first eight months, Vietnam has attracted 1,619 newly-licensed FDI projects with pledged capital of US$9.8 billion, up 24.3 percent compared to the same period last year. In addition, as many as 770 on- going FDI projects raised capital by US$4.57 billion, up 83 percent from the same period last year. Totally, capital of The post FDI disbursement reaches $10 bln in first eight months appeared first on Vietnam Business News.

Big C Vietnam pays off $93 million tax arrears Posted: 04 Sep 2016 01:27 AM PDT The tax amount was incurred from the transfer of ownership over Big C Vietnam from French Groupe Casino to Thai Central Group in April this year. This is the largest sum the Vietnamese tax authorities have ever collected from a capital transfer. Earlier, German company METRO Group paid VND1.9 trillion ($85.25 million) in tax after The post Big C Vietnam pays off $93 million tax arrears appeared first on Vietnam Business News.

SBV warns banks about fraudulent payments Posted: 04 Sep 2016 01:27 AM PDT Central bank issues a number of directives to guarantee security at banks regarding financial transactions. In Official Statement No. 6466, SBV Governor Le Minh Hung demanded units enhance their confidentiality and privacy controls to minimize the risk of fraudulent transactions and to protect the rights of customers. Organizations providing payment services need to review and The post SBV warns banks about fraudulent payments appeared first on Vietnam Business News.

Vietnam attracts 900,000 foreign tourists in August Posted: 04 Sep 2016 01:27 AM PDT The number of foreign visitors to Vietnam in August reached nearly 900,000, up by 6.3% compared to the previous month and by 34.4% compared to the same period last year, announced by the General Office of Statistics. Photo for illustration As a result, the total number of foreign tourists to Vietnam in the first eight The post Vietnam attracts 900,000 foreign tourists in August appeared first on Vietnam Business News.

Garment factory data revised Posted: 04 Sep 2016 01:27 AM PDT "During the first quarter of 2016, the ministry became aware that a number of factories had been inactive for months, and in some cases had closed down, but had not provided official notice to the ministry and thus had not been recorded as such in the database. The ministry therefore reclassified 122 garment and footwear The post Garment factory data revised appeared first on Vietnam Business News.

Deeper economy drives growth Posted: 04 Sep 2016 01:27 AM PDT The announcement came with the publication of a mid-year assessment of Cambodia's macroeconomic outlook yesterday, which reported that the Kingdom's garments and services sectors are expected to expand by 11.4 per cent and 6.7 per cent in 2016, respectively. By contrast, the agricultural sector is projected to grow by just 0.5 per cent. Vongsey Vissoth, The post Deeper economy drives growth appeared first on Vietnam Business News.

IPI rises 6.9% in eight months Posted: 04 Sep 2016 01:27 AM PDT Steel production at the Thái Nguyên Iron and Steel Plant in northern Thái Nguyên Province. A surge of 16.9 percent was seen in the IPI of the heavy metal industry, followed by the textile industry with 15.5 percent, engined vehicles production with 15.3 percent, and electronic, computer and optical products with 14.1 percent. (Photo: VNA/VNS) The post IPI rises 6.9% in eight months appeared first on Vietnam Business News.

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