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Establish national gold exchange: experts

VietNamNet Bridge – Experts deemed it necessary to set up a national gold exchange to deal with the widening gap between local and global gold prices – and the preference for keeping gold and using the precious metal as payment. Tran Thanh Hai, general director of Vietnam Gold Business Corporation, said over 11 tons of gold had been launched into ... Read More »

BUSINESS IN BRIEF 1/5

PM: Better conditions needed to attract investment Prime Minister Nguyen Tan Dung has asked ministries, branches and localities to create favourable conditions to attract investment, especially foreign invested and high-tech projects. The Government leader made the request at the cabinet’s April meeting that opened in Hanoi on April 26 to review socio-economic development during the first four months of the ... Read More »

Time for monetary policy loosening

VietNamNet Bridge – The State Bank of Vietnam has slashed the ceiling deposit interest rates several times in an effort to reduce the loan interest rates and increase the amount of capital to be pumped into the national economy. The head office of the State Bank of Vietnam The Economist, after analyzing the moves of the central banks, has noted ... Read More »

Smuggled gold sneaking onto local market

VietNamNet Bridge – More smuggled gold has been launched onto the local market due to the widening gap between local and global gold prices in recent times, heard a meeting between the HCMC branch of the State Bank of Vietnam (SBV) and related agencies in the city on Monday. Declining to elaborate on the smuggled gold quantity that has been ... Read More »

Mammoth petrochemical projects make Vietnam feel dizzy

VietNamNet Bridge – More and more investors have expressed their willingness to set up huge oil refineries in Vietnam. Government agencies and local authorities keep cautious when talking about projects, while some experts have doubts about their feasibility, and some people say the projects are just the “cake picture.” Foreign investors may well understand the Vietnamese “oil refinery dream,” therefore, ... Read More »

Vietnam second in Southeast Asia remittance ranking

Vietnam ranked second in the Southeast Asian region for overseas remittance with 10 billion USD in 2012, according to the latest report issued by the World Bank (WB). The Philippines topped the list with 24.45 billion USD. Indonesia came third with 7.2 billion USD, followed by Thailand (4.12 billion USD), Malaysia (1.27 billion USD) and Myanmar (0.56 billion USD). On ... Read More »

Foreign investors needed for bad debt settlement: expert

VietNamNet Bridge – Policies should be made more liberal for foreign investors to get involved in debt trading, and thus bad debt settlement can be accelerated, said Dr. Le Xuan Nghia, member of the National Advisory Council for Monetary Policy.   Illustrative image.   The scheme on establishment of Vietnam Asset Management Company (VAMC) will be put forward at the ... Read More »

Japan’s economic stimulus package brings high hopes to Vietnamese

VietNamNet Bridge – Vietnam’s exports to Japan have been supported not only by bilateral and multilateral trade agreements, but also by the new economic stimulus package launched by the Japanese government worth $1.4 trillion. Vietnam’s food and farm produce exports have advantages Nguyen Trung Dung, Vietnamese counselor to Japan, said that the economic stimulus package would help foster the Japanese ... Read More »

BUSINESS IN BRIEF 30/4

Vung Tau to host Int’l Seaports Festival An International Seaports Festival will take place in the southern province of Ba Ria-Vung Tau from May 17–19. The event aims to further the Government’s marine-based economic development strategy and consolidate the marine sector’s leading role in the new period. It is also expected to raise the international community’s awareness of Vietnam’s sovereign ... Read More »

WB approves credit for Da Nang's sustainable development

WB approves credit for Da Nang’s sustainable development   HA NOI (VNS) – The World Bank (WB) Board of Directors has approved US$202.5 million  in credit to support sustainable development in the central city of Da Nang. The credit is being provided under the Da Nang Sustainable City Development Project to help improve the city’s drainage systems and arterial roads, ... Read More »