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Bourses get slight boost

The VN-Index on the HCM exchange edged up 0.14 percent to finish at 465.72 points on February 27. Trading value decreased 33.5 percent from the previous session, totalling 978 billion VND (46.8 million USD). Gains of heavyweight shares such as Vietinbank (CTG), dairy giant Vinamilk (VNM) and property developer VinGroup (VIC) lifted the index. However, ... Read More »

BIDV finances resettled residential project

The Bank for Investment and Development of Vietnam (BIDV) will finance a residential project in HCM City with 4.914 trillion VND (234 million USD). According to a credit contract signed on February 27, the term of the loan may reach 24 months. The international development company 21st Century plans to develop more than 4,200 apartments on a 32 hectare lot ... Read More »

Vietnamese bonds fail in overseas markets

Only three Vietnamese bonds are listed on the international market, and their liquidity remains low. Vietinbank’s bond has the highest liquidity on the list, which also includes bonds from Masan Group (MSN) and Vingroup (VIC). However, since it was listed on the Singapore Stock Exchange in May last year, the bond’s value in a trading session reached only a few ... Read More »

HCM City works for more Danish investors’ arrival

The Chairman of People’s Committee of HCM City, Le Hoang Quan, has pledged to create every possible condition to facilitate the Green House cooperative project between Vietnam and Denmark. He made the pledge during his meeting with Denmark ’s Minister of Foreign Affairs Villy Sovndal in HCM City on February 27. Quan took the occasion to thank the Danish people ... Read More »

Bad debt ratio will spike on new bad debt classification method

VietNamNet Bridge – The changes in the criteria and the method for bad debt classification will surely make the bad debt ratio increase sharply. A report by the State Bank of Vietnam showed that by September 30, 2012, the bad debt ratio had accounted for 8.82 percent of the total outstanding loans of the whole banking system, estimated at VND2,800 ... Read More »

Industrial production increases 6.8 pct in two months

The Industrial Production Index (IPI) saw a year-on-year increase of 6.8 percent in the first two months of 2013, according to the General Statistic Office (GSO). Of which, the index of the mining industry increased 1.8 percent over the same period last year, that of the processing and manufacturing, 7.9 percent, electricity production and distribution, 11.7 percent, and water supply ... Read More »

HCM City to take back licences from delayed projects

Ho Chi Minh City’s authorities will take back licences granted to 48 projects which have less than 50 percent of their land site cleared. At a meeting on February 26 to hear opinions on measures to deal with delayed projects, the Department of Natural Resources and Environment said that 30 housing and 18 production and trade projects will have their ... Read More »

Foreign retailers expand business, dominating retail market

VietNamNet Bridge – While foreign retailers have been unceasingly expanding their business by setting up more retail stores, domestic have to scale down their business because of the big losses. Foreign retailers make continuous expansion… There are 130 shopping malls, 700 supermarkets and 1,000 convenience stores nationwide. Domestic enterprises account for the overwhelming majority among the operational retailers, while there ... Read More »

The real estate market in 2013 as seen by foreign consultancy firms

VietNamNet Bridge – Foreign consultancy firms all believe that the real estate market would still be very difficult in 2013, while the prices would continue decreasing. However, they believe that there would be more successful transactions. CBRE Vietnam believes that 2013 would be the time for a “revolution” in the real estate market. About the prices of the apartments in ... Read More »

Virtual office services prosper

VietNamNet Bridge – The demand for virtual offices has become so increasing high that 20 investors have developed this kind of service in HCM City alone. Virtual offices in high demand Tran Le Thuy, Director of a consultancy firm with the head office on a small alley in Binh Thanh district, said she has made a wise decision of leasing ... Read More »