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This is the second dong devaluation this year after the Southeast Asian country weakened its currency by 3.4% on February 10 as it has been struggling with high trade deficit and trying to curb high inflation at under 8% this year. Earlier, Vietnam also saw its dong devaluation by 5.4%
The Bureau for Insurance Management and Supervision under the Ministry of Finance stated that non-life insurance premiums grew at a faster rate of 25.9% on-year to nearly VND8 trillion. Life insurance premiums, meanwhile, expanded 10% to over VND6 trillion, the bureau said at a seminar in Hanoi.
Posted in: Vietnam insurance
PetroVietnam Finance (PVF) has transferred over 40 million shares of Phu Dat Co, representing a 93.4 per cent stake, to PetroVietnam-Idico Long Son Industrial Park Investment Co. The shares have an estimated value of VND401.6 billion (US$20.6 million).
The Japanese economic daily, Nikkei on August 11 carried an analysis saying that Vietnams nonlife insurance market is attracting more and more corporate and individual customers, and the intensifying competition may spur a realignment among insurers.
The HCM Citys Social Insurance Agency has filed lawsuits against 28 companies who owe social insurance payments worth a total of 10 billion VND (527,000 USD). The companies, most of which are locally owned, had missed payments for more than 2,500 employees for many months, said Nguyen Trong Nam, head
Posted in: Vietnam insurance
The banks were to encourage many different types of consumer loans to attract customers. In particular, Techcombank is offering car loans with a maximum credit of 90% of the cars. Eximbank has provided consumer loans to 14% per year award low-interest loans. Employees of financial institutions also constantly invite customers
Posted in: Vietnam consumer loans
In 2008, 15 non-life insurance agreement signed in motor insurance to at least 1.56 percent for insurance payments to remove approximately 1.3 percent. For example, if an insurer is required to pay the claim of a $ 100 surcharge is to collect $ 1.56. Over the next few weeks, four
Some banks have announced that sales has the U.S. dollar for the customer to buy from retailers and the additional cost of the buyer business was suspended. What happens to the dollar? Xuan, who live in Tan Binh, had come to buy bank-dollars for the trip. They were told by
GDP of Vietnam (GDP) is expected to grow by 6.5% above the target for 2010, reported the newspaper online Vneconomy on 6 August, citing the Ministry of Planning and Investment (MPI) forecast on a regular government meeting presented. MPI estimates, said that export sales can increases17%, 6% higher than planned.
Credit growth will total 12.96 percent for the first seven months of the year, forecasts State Bank Governor Nguyen Van Giau. The growth is planned to reach 25 percent at years end, he told reporters at the monthly Government meeting on August 2. The focus of monetary policy later in
. The 16th meeting of the Da Lat City’s People’s Council on June 30, 2009 approved the plan to enlarge Da Lat City by 57,000 hectares in the next decade.
Viet Nam harvested almost 1 million tonnes of coffee in 2009-10. Traditionally, coffee exports soar in the first and fourth quarters of the year. However, last year, domestic consumption slowed
The property market in southern Binh Duong Province has the potential to develop strongly and even match the major cities of Ha Noi and HCM City in the rental segment,
A business cooperation contract on a gas pipeline project for Block B- O Mon was signed in Hanoi on March 11 by the PetroVietnamGas Corporation (PVGas), Chevron, MOECO (Japan) and
Natural rubber latex prices have been increasing steadily since the beginning of 2010. Yet even though the potential for profits is expanding, Vietnamese businesses have no rubber to sell.
An international consumer conference on the import and export of cashew nuts was held in Binh Phuoc province on March 22 in an effort to establish a global cashew nut
The Viet Nam Gas Association has recommended the Ministry of Finance cut the import tax on liquefied petroleum gas (LPG) from the current 5 per cent to 2 per cent
The five ports are: Cai Lan in Quang Ninh province, Hai Phong Port in Hai Phong city, Da Nang Port, HCM City Port and Ba Ria-Vung Tau Port. Customs declarations