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Category Archives: Business

Stock rebound after false rumour

Stocks managed to rally on both of the nation’s stock exchanges on February 22, as authorities rushed to quell rumours of another scandal in the banking industry and a weakening in the domestic currency. Bank for Investment and Development of Vietnam (BIDV) chairman Tran Bac Ha joined officials on February 21 in rejecting whispers that he had been arrested for ... Read More »

Tough year for mobile telecom industry

VietNamNet Bridge – Tough competition plus saturated demand in the local mobile telecom industry forced many firms to either pull out of Vietnam or to make offshore investments last year. Regarding the local mobile telecom market in 2012, market research company BMI reports that the local market has lost its attractiveness. The number of subscribers is nearing the saturation level ... Read More »

BUSINESS IN BRIEF 23/2

Credit growth negative for last two months The credit growth of the banking system as of Tuesday stood at minus 0.16% against late 2012, versus minus 1% in January and minus 3% in the same period last year, according to the Credit Department of the State Bank of Vietnam (SBV). The credit growth for 2013 is set at 12%, counting ... Read More »

SBV more tightens gold market

VietNamNet Bridge – Gold holders have been worried stiff on the news that only 99.99% SJC one-tael bullion gold to be made under the permission of the State Bank can be used in transactions. This is one of the new provisions found in the draft circular that stipulates the regulations on the sale and buy of bullion gold on the ... Read More »

Vietnam’s Eximbank and SMBC boost cooperation

The Import-Export Commercial Joint Stock Bank (Eximbank) of Vietnam and the Sumitomo Mitsui Banking Corporations (SMBC) marked the 5th anniversary of their strategic alliance in Ho Chi Minh City on February 22. Speaking at the event, Eximbank Director Truong Van Phuoc affirmed that this strategic cooperation is remarkably effective, helping his bank gain a gigantic growth in both operation scale ... Read More »

FDI’s contrasting picture

VietNamNet Bridge – The picture of foreign direct investment (FDI) in 2012 exhibits two distinct bright and dark segments. While the bright color should be further highlighted, the dark one needs to be removed for a better investment environment. Highlight of Japanese investment Although the total FDI inflow into Vietnam declined sharply last year, the capital source from Japanese investors ... Read More »

EC inspects Vietnam’s seafood quality control system

The legal system, organising mechanism and the performance of Vietnamese agencies in charge of controlling the quality and safety of seafood production at both central and grassroots levels have met European Commission (EC)’s regulations. The assessment was made after a group of EU inspectors conducted a fact-finding trip to the Vietnamese agencies last year, the National Agro-Forestry-Fisheries Quality Assurance Department ... Read More »

Vietnam-Brazil trade turnover maintains fair growth

Two-way trade between Vietnam and Brazil maintained fair growth in 2012 with a turnover of nearly 1.64 billion USD, an increase of 13.8 percent from 2011, according to statistics released by Brazil ’s Ministry of Development, Industry and Foreign Trade on February 21. In 2012, Vietnam earned 817.2 million USD from exports to Brazil , up 26.3 percent from 2011, ... Read More »

Vietnam to host 19th AEM Retreat

The 19th ASEAN Economic Ministers (AEM) Retreat and related meetings will be held in Vietnam ’s capital city of Hanoi from March 7th to 10th. At the 19th AEM Retreat, economic ministers from 10 ASEAN member countries and the ASEAN Secretary General will focus their discussions on important initiatives and concrete directions for 2013 to boost the intra-regional economic integration ... Read More »

Complete housing and property institutions needed

Priority should be given to perfect institutions relating to the development of housing and real estate market, Deputy Prime Minister Hoang Trung Hai has said. Hai, who is also head of the Central Steering Committee on Housing Policy and Real Estate Market, made the remarks at the committee’s first meeting in 2013 in Hanoi on February 22. The Deputy PM ... Read More »