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Bank data released for turbulent 2012

VietNamNet Bridge – Figures released by the State Bank have shown that at the end of 2012, the total assets of the entire domestic banking system recorded a growth of 2.54 per cent compared with 2011, meaning that last year’s total for the entire system rose by nearly VND126 trillion (US$6 billion).   The data ... Read More »

Luxury car makers foresee good signs in 2013

VietNamNet Bridge – Luxury car brand owners have been trying to expand their distribution networks in Vietnam, which means that they believe in the prosperity of the market in 2013. Meanwhile, domestic manufacturers believe that “after the rain in 2012 comes, the fine weather in 2013”. The car sales in 2008-2012 and the estimates in 2013 A news showroom of ... Read More »

Deputy PM opens securities trading in Hanoi after Tet

Deputy Prime Minister Vu Van Ninh on February 18 beat the gong to open the first trading session at the Hanoi Stock Exchange (HNX) after the nine-day Lunar New Year (Tet) holiday. Addressing the ceremony, Ninh expressed his hope that the stock market will see higher growth this year, contributing to stabilising the macro economy, curbing inflation and ensuring social ... Read More »

New investment projects in Ba Ria-Vung Tau

The southern Ba Ria-Vung Tau province on February 18 granted investment licences to five projects totally valued at 28 million USD and over 2.3 trillion VND (109.5 million USD), completing 20 percent of its target for 2013. Of the projects, licenced during the Lunar New Year Investment Festival, two are financed by foreign investors. Notably, the Blue Sapphire Resort funded ... Read More »

Japan’s Aeon expands operation in Vietnam

Aeon, the leading Japanese retail and financial services corporation, on February 15 announced its 1.5 billion USD investment plan to build 20 shopping malls across Vietnam by 2020 . Aeon’s first shopping centre is expected to be opened to the public in Celadon urban area in Ho Chi Minh City in January 2014. The second is scheduled for October of ... Read More »

State Bank rolls out gold market measures

The State Bank of Vietnam (SBV) has developed several measures to closely monitor and control the domestic gold-bullion market. Beginning after the Tet (Lunar New Year) holiday, credit institutions licensed to trade gold bullion will be required to determine whether their branches and transaction offices have had difficulties in trading gold bars. The credit institutions are then obligated to inform ... Read More »

Domestic banking system grows 2.54 pct in 2012

Figures released by the State Bank of Vietnam have shown that at the end of 2012, the total assets of the entire domestic banking system recorded a growth of 2.54 percent compared with 2011. It meant that last year’s total for the entire system rose by nearly 126 trillion VND (6 billion USD). The data also shows that most of ... Read More »

BUSINESS IN BRIEF 18/2

Private residences accommodate tourists after shortage of hotel rooms in Da Lat Many tourists from Ho Chi Minh City and nearby provinces had to find accommodation in private homes in the Central Highland City of Da Lat even after the Tet season was over on February 15, as there were not enough rooms available in hotels. Some visitors said they ... Read More »

Investment climate still charms foreign players

VietNamNet Bridge – Viet Nam still remains a magnet for foreign investors despite shrinking inflows of foreign direct investment (FDI) it faced during hard economic time. Sliding FDI registration In 2009, inward FDI in Viet Nam started to tumble to around two thirds against 2008 and has then dropped constantly to about US$10 billion, which was mostly blamed for the ... Read More »

Allowing raw material exports, MOIT yields to enterprises?

VietNamNet Bridge – The Ministry of Industry and Trade (MOI) has issued a series of documents, allowing some local enterprises exporting raw materials to help reduce the inventories. The door for raw mineral exports has, once again, been opened, though not to all enterprises. With the nod given by MOIT, many enterprises in the provinces of Binh Thuan, Nghe An, ... Read More »