| Vietnamese banks lent firms $5.3 billion under state loan subsidy |
| Vietnamese commercial banks lent a combined VND93 trillion (US$5.3 billion) to businesses in February after the government started a loan subsidy program to boost a slowing economy, the central bank said. |
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| The Investment and Innovation of MHB |
| After 12 years of establishment and development (1998 -2010) MHB have made massive progresses include expanding network up to 220 POS (Point of Sale) nationwide with customers’ service hotline, 3 million dollar investment for management software. |
| Central bank tells banks to assist small firms, farmers |
| The central bank, bidding to combat an economic slowdown, has urged lenders to provide low-interest loans to small- and medium-sized companies, exporters and farmers. |
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| Government to set up fund to stabilize fuel, gas prices |
| Vietnam will set up a fund to stabilize prices of domestic petroleum products, using a portion of the pretax profits of petroleum suppliers, according to a government statement Friday. |
| Dong Nai set to lose more jobs this year |
| Fifty-four businesses in southern Dong Nai Province have cut more than 8,200 jobs since the beginning of last year, according to the provincial Department of Labor, Invalids and Social Affairs. |
| Stocks slump to continue this year: expert |
| The stock market will remain bearish this year but it is offering profitable opportunities in the long-term, according to a senior trader at a Hanoi-based brokerage. |
| Gold to touch $1,000 |
| The international gold price is likely to top US$1,000 an ounce in the first half before retreating to $700, a Vietnamese consultant to the World Gold Council has predicted. |
| Vietnam seeks foreign money to develop first transshipment port |
| The government is looking for foreign investors to build the country’s first international transit port in Khanh Hoa Province, one year after it briefly shelved the port’s groundbreaking. |
| Banks flush with dong, expect another key rate cut |
| Banks are awash with liquidity since businesses remain reluctant to borrow because of the high interest rates, bankers said. |
| Key export sectors battered by economic slump |
| Textile, garment, and footwear producers continue to feel the pain of the global economic downturn as their export orders dry up. |
| Cambodia strengthens Vietnamese trade with economic zones |
| Cambodia has licensed six special economic zones along its border with Vietnam to boost bilateral trade, according to the Council for Development in Cambodia (CDC). |
| Central bank assures stable exchange rates |
| The central bank said Tuesday it would work to keep foreign exchange rates stable this year as part of efforts to prevent an economic slowdown. |
| Currency Market |
| The dollar rose high against the euro on Thursday. The Dollar also rose against the yen in the New York session. |
| Delayed remittance of PIT liabilities until May 2009 |
| The Ministry of Finance has just issued Official Letter No.1823/BTC-TCT (OL 1823) |
| Vietnam corporate optimism tops other Asian nations: bank report |
| Companies in Vietnam are more optimistic about the future of the country’s economy than in other Asian nations, according to Standard Chartered Plc. |
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| China’s Guangdong Nuclear may help Vietnam build first reactors |
| China Guangdong Nuclear Power Group Co., the nation’s No. 2 reactor builder, may help Vietnam construct its first nuclear power plant to ease electricity shortages in Vietnam. |
| Japanese entrepreneurs arrive to talk trade, investment |
| Executives from 63 Japanese companies arrived in Vietnam Sunday for a six-day visit to explore investment and business opportunities |
| Gold rebounds on haven demand |
| Gold climbed for the first time in six sessions in London as stock markets tumbled on speculation that economies are worsening |
| Rules not tough enough to keep out low-quality imports: officials |
| Vietnamese regulations and standards are too weak to protect consumers from poor-quality imported products, officials admit. |
| More stimulus packages needed, says former central bank chief |
| The government should have further stimulus packages to prevent the economy from slowing down and help it recover soon, Le Duc Thuy, chairman of the National Finance Supervision Committee, said. |
| German-Vietnamese logistics center opens in Binh Duong |
| A logistics center developed by Germany’s Schenker Corporation and Gemadept, Vietnam’s largest shipping agency, opened Tuesday in Binh Duong Province. |
| Australian Worldwide focuses on Vietnam after buying oil area |
| Australian Worldwide Exploration Ltd. is concentrating on Vietnam and looking at investments |
| Vietnam raises half of planned $100 million in dollar-bond sale |
| The government sold three-year dollar bonds worth US$50.1 million in the domestic market Saturday |
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| Bankers confer on risk management |
| Senior managers of international banks and financial institutions and financial advisors gathered in Ho Chi Minh City |
| Institutional investors take advantage of market rise |
| The stock market’s recent rallies have come as a boon to both local and foreign |
| Shoemakers may relocate to Indonesia |
| Shoemakers from China, Vietnam and South Korea may relocate 23 factories to Indonesia |
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| US business delegation to visit Vietnam next week |
| Representatives of about 20 leading businesses in the US will visit Vietnam |
| Banking system stable but cautious stance to continue: c.bank |
| The banking system is safe and stable but caution is still needed amid the continuing global financial crisis, the central bank chief said. |
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| Interest rates ‘have hit a floor,’ may rise, ratings agency says |
| The benchmark interest rate has probably reached “a floor” after a series of cuts |
| Kumho Asiana, Saigon Port ink joint venture deal |
| The Korea Express Company Ltd. Tuesday signed a joint venture with Saigon Port Company to set up a US$4-million logistics firm in Vietnam. |
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| Vietnam central bank has no plans to devalue dong |
| There is no plan to devalue the dong or change the benchmark interest rate, the central bank governor said. |
| Interest returns as Vietnamese stocks become cheap |
| The market has been benefiting from increased liquidity in the last couple of weeks as a result of returning interest in Vietnamese shares. |
| Vietnam to recover from crisis soon: Singaporean minister |
| Singaporean Foreign Minister George Yeo believes Vietnam will soon overcome the effects of the global economic crisis. |
| Major banks to cut dollar deposit rates to inhibit hoarding |
| Vietnam’s largest banks will lower their interest rates on dollar deposits to 1.5 percent in June from around 2 percent now in a move to help avoid dollar hoarding in domestic markets, the central bank said. |
| Gold jumps to new high |
| Gold prices in Vietnam soared to a new record of VND21.3 million a tael, or US$1000 an ounce, Saturday, as global prices rose to a three-month high in New York and London due to a weaker dollar. |
| Vietnam to rein in credit growth, keep base rate stable |
| The Finance Ministry has asked the government to keep credit growth below 30 percent this year after banks |
| High demand for credit pushes dong deposit rates up |
| Commercial banks increased interest rates on dong deposits last week |
| Banks asked to tighten control over consumer lending |
| The State Bank of Vietnam said Friday it has asked commercial lenders to inspect their subsidiaries and ensure safety in consumer lending. |
| Vietnam GDP growth quickens to 4.5 pct in Q2 yr/yr: report |
| Vietnam\'s economic growth in the second quarter of this year quickened to an estimated annual rate of 4.5 percent, from an annual rise of 3 |
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| Dollar to rise most since 1981, best predictor says |
| Strategists who came closest to predicting the dollar’s value against the euro so far this year |
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| Vietnam economic growth likely to have picked up pace in Q2 |
| Vietnam’s second-quarter growth numbers, expected to be the first released in Asia this week |
| Japanese fund begins Vietnam operations |
| Japanese fund DIAIF announced Thursday that it would invest in Vietnamese businesses and help them improve their competitiveness in domestic and export markets. |
| Vietnam caps big banks’ 2009 credit growth at 25 percent |
| The State Bank of Vietnam has asked the country’s biggest lenders to restrict loan growth this year at 25 percent on accelerating inflation concerns. |
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| Market update 29 July 2009 |
| Currency Market |
| Market update 27 July 2009 |
| Currency Market |
| Year-end inflation likely to reach 6.7 percent, Dragon says |
| Vietnam’s inflation rate, currently the lowest in more than five years, will probably accelerate to 6.7 percent by the end of 2009, |
| Only subsidies for poor in new power scheme: PM |
| Prime Minister Nguyen Tan Dung has directed the electricity sector restructuring project to only offer subsidies for poor households in rural, remote and mountainous areas. |
| Gold eases from 7-week high, ETF steady |
| Gold eased Tuesday from a seven-week high marked in New York the previous day as waning investor appetite for the precious metal capped gains despite the dollar remaining close to this year\'s low. |
| Vietnam to limit bank lending from short-term funds |
| Vietnam will restrict commercial banks from giving loans with short-term funds to ensure the stability of the banking system, according to a statement on the central bank’s website Monday. |
| Central Highlands announces 122-project wishlist |
| A group of provinces in the Central Highlands released Wednesday a list of 122 projects calling for investment. |
| Trade promotion support too slow off the blocks |
| A state-funded marketing campaign aimed at promoting domestic products this year has floundered with enterprises unable to access the promised assistance. |
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| Foreign firms begin exporting rice this year |
| Experts say a new government plan to allow foreign firms in Vietnam to export rice this year will boost the competitiveness and prestige of the local grain. |
| Vietnam’s bonds rise on bank purchases; dong is little changed |
| Vietnam’s bonds rose for a second day on speculation banks are adding to their government bond investments because of excess cash. The dong was little changed. |
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| Vietnam focusing more on growth than inflation, president says |
| Vietnam has shifted its focus toward stoking economic growth after bringing inflation down to the lowest level in more than seven years, President Nguyen Minh Triet said. |
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| Vietnam keeps key rate at 7 pct to strengthen economy |
| Vietnam’s central bank plans to keep the benchmark interest rate unchanged at 7 percent, the lowest since at least December 2005, to strengthen the economy |
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| Britain to raise investment in Vietnam to US$3 bln |
| Britain will increase its investment in Vietnam to $3 billion in the near future, it was agreed during a meeting between Prince Andrew and Prime Minister Nguyen Tan Dung in Hanoi on Monday. |
| PetroVietnam nine-month crude exports rise 12 percent |
| Vietnam Oil & Gas Group, the state-owned explorer and distributor known as PetroVietnam, said crude oil exports in the first nine months rose 12 percent from a year earlier to 11.7 million metric tons. |
| Vietnam’s end-Sept loans up 28 pct vs. Dec ‘08: central bank |
| Banks in Vietnam reported loans at the end of September were up 28 percent from the end of 2008, in line with a 2009 credit growth target of 30 percent, the central bank said on Tuesday. |
| Central bankers call for further cooperation against crisis |
| Central bank governors from around the world have issued a statement saying further cooperative efforts are needed to restore confidence and secure the vulnerabilities of the global economy. |
| Vietnam to subsidize company borrowing to spur economic growth |
| Vietnam will subsidize borrowing for companies and individuals to help boost growth in the Southeast Asian economy, the central bank said. |
| Soft loan repayment to boost dong liquidity |
| The repayment of loans under the government\'s stimulus program is expected to boost dong liquidity at banks in Vietnam between now and the end of the year and ease pressure to increase dong deposit rates, bankers said. |
| Vietnam development assistance disbursement may hit $2 billion |
| Vietnam’s total disbursement of foreign aids may reach US$2 billion this year as an economic stimulus package boosts domestic businesses, according to a statement on the government’s website. |
| Ninh Thuan attracts huge investment pledges |
| Pledges worth about US$1.3 billion were made at an investment promotion conference in the south-central province of Ninh Thuan last Saturday. |
| Vietnam’s bonds rise first day in three; dong little changed |
| Vietnam’s government bonds rose for the first time in three days on speculation local lenders are favoring the securities because they can use them as collateral to borrow from the central bank. The dong held steady. |
| Dung Quat refinery sells first propylene to Japan\'s Marubeni |
| Dung Quat oil refinery exported its first batch of propylene to Japanese Marubeni Corporation on Thursday, local newswire VnExpress said Friday. |
| Vietnam placing more importance on forex stability, Dragon says |
| Vietnam’s central bank is placing greater importance now than earlier this year on managing the stability of the country’s foreign-exchange market, fund manager Dragon Capital said in a note to investors. |
| Vietnam’s bond yields rise as dong interest rates increased |
| Vietnam’s government benchmark bonds fell Monday, with the five-year yield climbing to the highest in almost four weeks, after dong interest rates increased. The dong was little changed. |
| Banks asked to lend less until next year |
| Vietnam’s central bank has told commercial banks to reduce lending in the remaining months of the year as many banks have already posted high credit growth rates. |
| Vietnam seeks foreign loans for nuclear power project |
| The government is drawing up plans to finance Vietnam’s first nuclear power plant project with foreign loans, the Minister of Industry and Trade has said. |
| APEC to maintain stimulus until ‘durable’ recovery |
| Asia-Pacific leaders said the economic recovery isn’t on a “solid footing” yet, pledging to maintain stimulus measures until there is “durable” growth. |
| Vietnam\'s property firm to sell $100 mln convertible bonds |
| Vietnam\'s property developer Vincom plans to sell $100 million of five year convertible bonds, a source briefed on the plan said on Monday. |
| Vietnam doesn’t plan to devalue dong, central banker says |
| Vietnam doesn’t plan to devalue the dong, and will manage monetary policy in a “flexible way,” central bank governor Nguyen Van Giau said Tuesday. |
| Vietnam to use subsidy to stabilize oil prices |
| Vietnam will provide subsidies to its oil product distributors, which are all state-run, to stabilize the market if prices rise too high, Finance Minister Vu Van Ninh said on Wednesday. |
| Vietnam’s central bank to sell US dollars to banks |
| Vietnam’s central bank will sell US dollars to commercial banks that have a foreign-currency deficit of more than 5 percent to help stabilize the market, according to a statement on the central bank’s website. |
| Vietnam central bank says moves aimed at signaling flexibility |
| The central bank said last week’s increase in its benchmark interest rate, devaluation of the dong and cut in the currency’s daily trading band were aimed at signaling the country’s greater monetary policy flexibility. |
| State-owned bank, exporters seek bonded warehouse in US |
| Vietnam Development Bank, a non-profit state-owned lender, and nearly 20 local exporters plan to build a bonded warehouse in the US to faciliate exports. |
| Vietnam to halve loan subsidies on inflation concerns |
| Vietnam will halve the subsidy provided on medium- and long-term corporate loans next year amid concern the program is stoking credit growth and inflation. |
| Vietnam dong rates rise; banks curb new loans |
| Vietnamese dong loan rates have risen in the past week because of year-end demand and tighter lending conditions as many banks have reached their annual credit ceilings, bankers and businesses said. |
| Vietnam plans US$3 bln gov\'t bond issue next year |
| Government bonds worth VND56 trillion (US$3 billion) will be issued next year to fund public projects, a National Assembly Standing Committee meeting said Saturday. |
| Vietnam should consider corporate FX sale: expert |
| Vietnam’s central bank should re-introduce a rule that would require businesses to sell most of their dollars to banks as part of policies to stabilize the currency market, a government adviser wrote in a report. |
| short rates soft after liquidity injection |
| Vietnamese dong lending rates were mixed Monday, with those on terms of up to two months down due to good liquidity but rates on longer terms higher, suggesting funding demand may pick up from the second quarter. |
| Vietnam plans to sell VND1.5 trillion of bonds |
| Vietnam plans to sell VND1.5 trillion (US$81 million) of local-currency notes on Jan. 15, its first sale of Treasury bonds this year. |
| Vietnam central bank lowers mandatory forex ratios |
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Vietnam’s central bank lowered the compulsory reserve ratios for banks, according to a statement on the central bank’s website Monday. |
| Rates dip in Vietnam as demand subsides, focus on bond |
| Banks’ demand for Vietnamese dong and dollars eased in the past week and interbank rates on short-term loans fell, although longer-dated rates held steady, bankers said on Monday. |
| Vietnam interest rates up on renewed demand before Tet |
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Cash demand in Vietnam ahead of Lunar New Year next month, the country\'s biggest holiday, has pushed up rates on some dong loans, bankers said on Monday. |
| Vietnam says economy grew 5.83 pct in 1st quarter |
| Vietnam said Tuesday the economy grew an estimated 5.83 percent in the first quarter of 2010, but analysts warn sluggish exports and rising inflation could pose a threat to further expansion. |
| Vietnam rates up as lending set to rise in Q2 |
| Banks in Vietnam have increased short-term lending rates in the past week, anticipating higher funding demand in the second quarter after lending grew slowly in the first three months of the year, bankers said on Monday. |
| Banking paradox could hinder economic growth |
| The banking system is caught in a conundrum. Small banks are finding it difficult to attract deposits following interest rate cuts, while their larger brethren are not happy with surplus cash they cannot make good use of. |
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| ADB ascertains Vietnam’s growth at 6.5% |
| The Asian Development Bank on Tuesday reiterated that Vietnam’s economy would expand by 6.5% this year, on a par with the current strong economic recovery in the region. |
| Vietnamese bank CEO earns one million dollars a year? |
| The former CEO said the real owners of banks always fear that worries about CEOs incomes would affect the business results. |
| Viet Nam one of most promising regional Markets |
| VietFinanceNews.com - Citi is looking at emerging markets for continued growth after witnessing a resurgence that began last year and resulted in a net income of US$7.1 billion globally for the first six months of this year, bank officials said. |
| Vietnam takes firm steps against money laundering |
| VietFinanceNews.com - The Government has promulgated a National Action Plan on Anti-money Laundering and Combating Financing of Terrorism for the period from August 2010-August 2011. |
| Vietnam\'s dong gains on pledge bank-safety ratios to be raised |
| Vietnam\'s currency gained the most in more than a week after the central bank said that bank-safety ratios will be raised next year. Benchmark two-year bonds fell. |
| Vietnam to increase bank safety ratios next year |
| Vietnam\'s bank safety ratios will be raised next year, central bank Governor Nguyen Van Giau said, ahead of a planned increase in the capital adequacy requirement in October. |
| Lending rates to drop: central bank |
| Short-term lending rates in Vietnam are expected to come down, thanks partly to funds the central bank has extended to banks, State Bank of Vietnam governor Nguyen Van Giau was quoted on Wednesday as saying. |
| UNWTO: Vietnam a top growth tourist destination |
| The United Nations World Tourism Organization (UNWTO) has put Vietnam in the list of the top Asian countries with strong tourism performance in the first half of this year. |
| US$900 million committed to Mekong Delta |
| Foreign investors committed to pouring over US$900 million into the Mekong Delta while they were attending a conference on Mekong Delta investment and development in Can Tho City on Monday. |