Vietnam financial news, vietnam financial, vietnam financial review, vietnam financial market
"All banks reported that foreign exchange demand has not increased rapidly recently," Nguyen Quang Huy, director of the State Bank of Vietnams foreign exchange department, said in an interview published by the Vietnam News Agency Thursday.
Last week, the State Bank announced tough measures to curb the growth of outstanding loans in foreign currencies at local banks, to restrain the countrys widening trade deficit and to stabilise the domestic monetary market.
Posted in: Vietnam loans
The bond has a face value of VND1 million ($53) and will yield 8 per cent per annum. Existing shareholders will have the right to buy a convertible bond for every 100 shares they own.
Businesses now prefer borrowing in foreign currencies because the dong lending interest rate is 8-9 percent higher, leading to an alarmingly high amount of outstanding loans in foreign currencies
Since the central banks warning came out, a number of banks have slashed their deposit rates. For example, Vietnam Asia Commercial Bank in HCMC has revised down its rate from 11.8% a year to around 11.5%, the highest level banks must abide by in their commitment to the Vietnam Banks
However, in the meeting of SBV with Vietnam Banking Association and commercial banks taking place at the first weekend of June, banks said that they found it very difficult to lower interest rates with multiple causes, including high bonds coupon rates and difficulty in raising capital.
In 2008, Hanoi ranked 31st among 64 cities and provinces in terms of competitiveness, dropping four places from 2007, according to a result of an annual survey jointly conducted by the Vietnam Chamber of Commerce and Industry (VCCI).
The highest increases of 0.93 percent and 0.87 percent were seen in culture, entertainment and tourism services and housing, electricity, water and construction materials, respectively.
Viet A Bank, which once raised the deposit interest rate to a very high level, at 11.8 percent per annum, has lowered the interest rate after the State Bank of Vietnam threatened to inspect banks peddling overly high interest rates. The bank is now offering an interest rate of 11.5
In fact, big corporations do not know if the information is bad news or good news for them. In principle, this is a good news, because the existence of such a department will help the corporations settle their problems quickly when the companies can report their problems directly to the
. 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