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Category Archives: Business

Where have the deposits gone?

VietNamNet Bridge – Commercial banks have reported the steady increase in the mobilized capital so far this year. Meanwhile, businesses keep complaining that they lack capital to maintain production and expand business scale. A report showed that the mobilized capital of the whole banking system increased by 4.34 percent in the first quarter of 2013, while the outstanding loans increased ... Read More »

Vietnam to export 187,000 tonnes of rice to Philippines

Vietnam has won a bid to provide 187,000 tonnes of rice for the Philippines in 2013, according to the Vietnamese Trade Mission at the Philippines’ National Food Authority. The Philippines awarded the supply to the Southern Food Corporation (Vinafood II) with a price offer of 459.75 USD per tonne, lower than that of Thailand. The rice stock under the tender ... Read More »

Vietinbank to support SMEs

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) will allocate up to 5,000 billion VND (approximately 23.9 million USD) to help small and medium-sized enterprises (SMEs) through a preferential lending programme titled “Accompany SMEs’ development 2013”. Under the programme, which started on May 1, SMEs have the opportunity to borrow short-term loans at preferential interest rates which ... Read More »

Budget revenue reaches 76 trillion VND in April

Government revenue hit 76 trillion VND (3.65 billion USD) in April, raising the total revenue in the first four months of this year to 244.1 trillion VND (11.71 billion USD), the Ministry of Finance said on its website. This figure was up 2 percent year on year and equivalent to 29.9 percent of the estimate for 2013. In the January-April ... Read More »

City banks asked to step up support for businesses

City banks asked to step up support for businesses Customers make transactions at a HSBC bank branch in HCM City. — VNA/VNS Photo Quang Nhut HCM CITY (VNS)— The State Bank of Viet Nam’s HCMC branch has urged commercial banks in the city to take further measures to help firms revive production and increase their own credit portfolio. Four city ... Read More »

Agricultural commitment made with Japan

Agricultural commitment made with Japan Illustrative image.—VNA/VNS Photo HA NOI (VNS)— Viet Nam and Japan have agreed to promote bilateral co-operation in the field of agriculture. The agreement was reached at a meeting in Ha Noi on Saturday between Minister of Agriculture and Rural Development Cao Duc Phat and his Japanese counterpart, Yoshimasa Hyashi, who is on a working visit ... Read More »

Hydro-power Plant ignores irrigation

Hydro-power Plant ignores irrigation Hydro-electricity plants Dak Mi 4.— Photo miccodng.com QUANG NAM (VNS)— Thousands of hectares of rice and cereal fields in Quang Nam Province are set to suffer from a serious shortage of water in the coming month, with the region’s Dak Mi 4 Hydro-electricity Plant continuing to use up water for electricity generation, despite agreeing to pause ... Read More »

Shares jump on rate cut news

Shares jump on rate cut news HA NOI (VNS)- Shares on both national stock exchanges jumped this morning following the news that Vietcombank will cut its deposit interest rate to 6 per cent today and a national asset management company will be established in the near future. The VN-Index on the HCM City Stock Exchange rose 1.58 per cent to ... Read More »

BUSINESS IN BRIEF 6/5

VN, Idaho firms plan to work together Viet Nam is expected to become one of Idaho’s top 10 trading partners in the next decade, according to Laura M. Johnson, head of Idaho’s Department of Agriculture’s market development division. “Our state’s diverse agricultural products combined with our success in other Asian markets and Viet Nam’s economic success” would pave the way ... Read More »

Admin orders corrupt business ethics

VietNamNet Bridge – Administrative orders on the market are giving rise to corruption and spoiling business ethics, said economists, pointing an accusing finger at recent moves of the central bank. Interest rate cap Among the administrative measures taken by State agencies in recent years, the central bank’s interference in the market emerges as the greatest concern. The State Bank of ... Read More »