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[2012-04-23] Tuna exports up 23% in Q1
Tuna exports up 23% in Q1
April, 23 2012
HA NOI — Viet Nam recorded a 23.1 per cent year-on-year increase in value of tuna exports in the first three months, compared to the same period last year, bringing it to a total of US$101 million, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).
This year, by mid-March, tuna exports to two African nations, Tunisia and Sudan, reached record highs, increasing by 809.9 per cent, to US$797,000, and 729.8 per ce... |
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[2012-04-23] Exporters face significant challenges
Exporters face significant challenges
April, 23 2012
HA NOI — The country's exports are experiencing significant challenges, according to a poll released by the Viet Nam Trade Promotion Agency.
The three-month survey was launched last August and involved 200 participants, including exporters, trade associations and promotion centres, along with overseas trade representative agencies.
More than 24 per cent said companies faced "extreme difficulties" related to capital shortages, ... |
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[2012-04-23] Town buyer yet to realise dream
Town buyer yet to realise dream
April, 23 2012
HCM City—Based businessman Pham Dinh Nguyen attracted widespread attention from local media and business circles after he beat bidders from Hong Kong, New York, Florida, Kansas and Wyoming to buy the town of Buford in the US state of Wyoming for US$900,000.
"I've dreamt of owning part of the US. So I was very excited when reading an article about the bid for Buford and decided to fly to Wyoming to directly join the bid. It is a long p... |
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[2012-04-21] BUSINESS IN BRIEF 21/4
BUSINESS IN BRIEF 21/4
April, 21 2012
Domestic building equipment sector to get $355m injection Viet Nam would invest US$355 million in the building equipment sector with the aim of producing advanced level equipment by 2020. Under the Ministry of Industry and Trade's plan to develop the industry by 2020 with a vision to 2025, the country would enhance the production of building equipment to serve domestic demand, gradually replacing imported products and eventually exporting its own. Do... |
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[2012-04-19] The new tendency in Japanese FDI in Vietnam
The new tendency in Japanese FDI in Vietnam
April, 19 2012
VietNamNet Bridge – While local authorities have been trying to call for Japanese investment into supporting industries, a lot of Japanese investors arrived in Vietnam are operating in the fields of trade, real estate, information technology, service and consumer goods production.
The new tendency, which was predicted by Japanese experts 3-4 years ago, has become true when a lot of Japanese enterprises try to penetrate the Viet... |
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[2012-04-19] BUSINESS IN BRIEF 19/4
BUSINESS IN BRIEF 19/4
April, 19 2012
State Bank may lift deposit rate limit in June The State Bank of Vietnam might remove a cap being put on the deposit interest rate in June or July this year if commercial bank liquidity improved, a forum heard. At the event, held by the Ministry of Planning and Investment in Hanoi on April 16, participants were told that the ceiling interest rate was considered an instrument to help the central bank control monetary policies.... |
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[2012-04-18] Foreigners forecast a good year for Vietnamese securities market
Foreigners forecast a good year for Vietnamese securities market
April, 18 2012
VietNamNet Bridge – In the eyes of foreign investors, the toughest period of Vietnam’s national economy is over. The stock market gets warmer, which has attracted foreign investors back to the Vietnam’s stock market.
The thing that has most impressed foreign investors now is the continued increase of the VN Index. The Vietnamese stock market is the market which witnessed the third sharpest increa... |
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[2012-04-18] People withdraw bank deposits to buy real estate
People withdraw bank deposits to buy real estate
April, 18 2012
VietNamNet Bridge – As commercial banks have lowered the deposit interest rate to 12 percent at maximum as per the request by the State Bank, people have withdrawn money to invest in other channels, because the deposit interests have become not attractive enough.
Experts believe it’s the right time to buy real estate The real estate price has dropped to the deepest low, while experts believe the price is not likely to... |
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[2012-04-17] Doubts raised about the feasibility of international bond issuance campaigns
Doubts raised about the feasibility of international bond issuance campaigns
April, 17 2012
VietNamNet Bridge – A series of big Vietnamese commercial banks have announced that they plan to issue long term international bonds. The information has surprised people, who cannot understand why banks still seek foreign currency capital, though they have dollars in excess and the dollar lending has been tightened.
It’s better to seek capital from international market
The Vietnam Bank fo... |
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[2012-04-17] Bank doors open more widely, but businesses cannot go in
Bank doors open more widely, but businesses cannot go in
April, 17 2012
VietNamNet Bridge – Banks have “relaxed their severity,” loosening the conditions for lending capital, but businesses have no more assets to mortgage for the loans.
It’s obvious that the State Bank’s decision to slash the dong ceiling deposit interest rate to 12 percent aims to rescue businesses which have been bogged down in difficulties. However, analysts have warned that the decision may n... |
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[2012-04-17] BUSINESS IN BRIEF 17/4
BUSINESS IN BRIEF 17/4
April, 17 2012
HCM City property market stalls There are growing signs of a stalemate in HCM City's residential market, with prices in the primary market seeing little change in the first quarter. "What we are seeing is a face-off between developers and buyers," said Marc Townsend, managing director of CBRE Viet Nam. "Residential buyers will not buy property if they think prices will go down in the future. "They simply expect prices to be lower next quarter and thus... |
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[2012-04-14] BUSINESS IN BRIEF 14/4
BUSINESS IN BRIEF 14/4
April, 14 2012
Vietinbank sells off loads of shares Vietinbank (CTG) announced it had finished issuing nearly 598.8 million shares to increase its charter capital to VND26.2 trillion (US$1.2 billion) from VND20.2 trillion ($961.9 million). Around 80.3 per cent of the shares were sold to State shareholders. Funding for the issuance was raised from undistributed profit last year and capital surplus. The bank has decided to list more than 117.9 million shares, which ... |
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[2012-04-14] State owned enterprises – naughty boys that do not get spanked
State owned enterprises – naughty boys that do not get spanked
April, 14 2012
VietNamNet Bridge – Vietnamese state owned enterprises (SOEs) are believed to have five special privileges, which are their “absolute advantages” in doing business.
In principle, businesses would benefit if they can make profit, and would suffer if they take loss. However, the principle is not applied to SOEs, especially big state owned conglomerates. Dr Nguyen Dinh Cung, Deputy Head of the C... |
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[2012-04-14] Securities companies now put under the probe
Securities companies now put under the probe
April, 14 2012
VietNamNet Bridge – The State Securities Commission (SSC) has kicked off a campaign of “health general examination and inspection” over securities companies. The companies to be dislodged from the market would show their faces in some more days.
A lot of securities companies at the point of death The second quarter of 2012 has come, but 20 securities companies still have not submitted finance reports for 2011. Of th... |
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[2012-04-07] More banks to change hands
More banks to change hands
April, 07 2012
The recent moves and statements made by commercial banks shows that more banks would change hands in the time to come.
Under the plan to restructure the banking system in 2011-2015 approved by the Prime Minister, the State Bank will refinance the credit institutions with the liquidity problem. The maximum refinancing level would be equal to the chartered capital of the credit institutions. Meanwhile, weak banks will be put under the special supervisio... |
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