VNBusinessNews – Although several commercial banks have resumed providing loans for individuals, borrowers have not been materialising. According to analysts, with the current economic downturn, residents are afraid that they will be unable to repay the loans and so hesitate to apply for one. And though banks have simplified the loan procedures, customers still must [...]
VNBusinessNews – A seminar was held in Nha Trang city in the southcentral province of Khanh Hoa on February 27 to work out an action plan for Vietnam-Japan tourism cooperation this year. Participants in the event co-organized by the Viet Nam National Administration of Tourism (VNAT), the Vietnam Airlines (VA) and the Japan Association of [...]
VNBusinessNews – The HSBC Viet Nam has been named the “Best Sub-Custodian Bank” and “Best Trade Finance Bank” in Viet Nam by The Asset magazine’s Triple A Awards which recognises excellence across Asia. The best banks and deals are selected in each category, combining points scored for both quantitative and qualitative factors to determine winners. [...]
VNBusinessNews – The Government’s target of 100,000ha of rubber trees to be grown in the Central Highlands is unlikely to be reached by the 2010 deadline, officials of the Ministry of Agriculture and Rural Development warned. Having grown for two years, the region has completed just 26 per cent of the total plan, or an [...]
VNBusinessNews – The first two months of 2009 have seen rice exports increase in both quantity and revenue, twice as much compared to the same period last year. However, total exports are likely to reach only $8 billion, down five percent compared to last year, according to the Ministry of Planning and Investment. Viet Nam [...]
VNBusinessNews – Viet Nam consumed 300,000 tonnes of steel in February, an equivalent to the volume in December 2008, according to the Ministry of Industry and Trade (MoIT). Thanks to an abundant supply and the positive impact of financial support policies, steel prices remained stable, ranging between VND11.000-11.650 million/tonne in the north and between VND11.100-11.560 [...]
VNBusinessNews – Trade promotion and market research will be stepped up to help companies expand their overseas markets and meet the export growth target of 13%, said the Viet Nam Trade Promotion Agency. Deputy Minister of Industry and Trade Nguyen Thanh Bien said that in the context of the current global economic crisis and a [...]
VNBusinessNews – Viet Nam Export Import Commercial Joint Stock Bank (Eximbank) on February 23 announced the bank’s export support lending rate in dong at 0.9% a year. This new lending rate benchmark will be officially applied from February 24. Eximbank believed that thanks to the “lending rate subsidisation” programme with a very low lending rate, [...]
VNBusinessNews – Pharmacy companies in HCMC are showing keen interest in developing chains of drugstores rather than isolated ones to better compete and benefit more from distributing imported drugs now that foreign traders can directly import medicines into the country, an official said. Drugstore chains played an important role in the local medicine market because [...]
VNBusinessNews – Since the beginning of 2009, rice exports have dramatically increased in both quantity and revenue to levels much higher than the same period of last year, according to the Ministry of Industry and Trade. The total earnings from nearly 600,000 tonnes of rice exported so far exceeded US$220 million, three times more than [...]
VNBusinessNews – Several gold trading companies and commercial banks have got the quota for exporting gold from the State Bank of Viet Nam. The gold price is climbing to the one-year highest peak since March 18, 2009 with the price quoted on February 22 at between VND 19.73-19.83 million/tael. In both the world and domestic [...]
VNBusinessNews – The prime minister, Nguyen Tan Dung along with deputy prime minister and leaders from some ministries on February 23 worked with leaders of Vietnam’s apparel sector on solutions for business and production activities in 2009. In the face of negative impacts from the global economic crisis, Vietnam’s garment and textile sector reached only [...]
VNBusinessNews – The Japanese Television channel, NHK, on Feb. 23 covered the inauguration ceremony of the Dung Quat Oil Refinery in the central province of Quang Ngai in the presence of Prime Minister Nguyen Tan Dung, senior Government officials and the heads of the Viet Nam National Oil and Gas Group (PetroVietnam). The NHK quoted [...]
VNBusinessNews – The domestic gold price, today, February 23 was sustainable at 19.88 million dong per ounce so people stopped selling gold to gauge the movement in the market. SJC gold price in Saigon Jewellery Co was listed at 19.78-19.88 million dong per ounce (buying and selling price), dipping 10,000 dong/ounce from the last weekend. [...]
VNBusinessNews – In January this year, Vietnam gained total export turnover of US$3.8 billion, down over US$1 billion compared to US$4.9 in December last year and nearly 25% on-year. Value of the majority of the country’s export items sharply dropped against the same period of 2008 with crude oil’s fall to 52% on-year, garment and [...]