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Bank pessimism on profits for 2015

 VietNamNet Bridge – While banks outdid each other in revealing their 2014 profit figures, they seem rather reserved in their 2015 profit outlook, Vneconomy newswire revealed.

‘We can if other countries can'

 VietNamNet Bridge – The Government's first Resolution in 2015 carries a strong can-do spirit that should benefit the business community, VCCI Chairman Vu Tien Loc tells the Nong Thon Ngay Nay (Countryside Today) Newspaper.

SBV aims to get bad debts to below 3%

VietNamNet Bridge – The Vietnamese government is determined to bring total bad debts down to 3 per cent in 2015, well below last year’s 5.43 per cent.

Breaking impasse in tackling bad debts

 VietNamNet Bridge – There is widespread belief that state-owned bad debt buyer Vietnam Asset Management Company (VAMC) needs to quicken the sale of bad debts it has bought from banks.

New legal framework needed to tackle NPLs

 VietNamNet Bridge – A resolution on bad debt would be the only way to resolve legal obstacles for buyers to purchase bad debts, especially foreign investors,

Vietnamese banks to apply Basel II governance standards

Ten Vietnamese commercial banks, chosen by the State Bank of Vietnam, will be applying international bank management standards in accordance with Basel II governance standards.

State Bank inspectors discover bank fraud, but violations not publicised

It is estimated that nearly 1,000 inspection tours to commercial banks are conducted every year. However, the majority of the inspectors’ reports have never been made public.

MOF suggests forgiving businesses’ tax debts

The Ministry of Finance (MOF) has proposed to absolve tax payments for businesses that have had financial difficulties over the last five years. The total amount could reach VND4.8 trillion.

Gov’t changes mind about settling bad debts with state money

VietNamNet Bridge – In a last-minute move, the government has decided not to settle bad debts with money from the state budget, which had been suggested by the Ministry of Planning and Investment.

Government proposes using state money to settle bad debts

 VietNamNet Bridge – The government has unexpectedly asked the National Assembly to include expenditures on bad debt settlement as part of the state budget.


 Vietnam, Japan unveil plan to develop four key industries; Standard Charter Private Equity expands its portfolio to Vietnam; VAMC buys VND60 trillion bad debts; State receives $30.8b from developing bond market


 VN looks to lift shrimp industry; External capital needed in struggle to resolve bad debts; Rubber exports predicted to fall; Textiles and garments top exports again; Lack of foreign language skills disadvantages Vietnamese firms

VAMC buys nearly 60 trillion VND worth of bad debts

 The Vietnam Assets Management Company (VAMC) has purchased $2.83 billion worth of bad debts from 35 credit institutions by September 1, said Nguyen Quoc Hung – Chairman of VAMC’s member-board.

SBV battles to control bad debts

 VietNamNet Bridge – Total funds provided to cover any risk reached VND77.3 trillion (US$3.6 billion) by the end of June, up 10.9 per cent over the 2013-end figure.


 Vinpearl doles out 4 million USD for Nha Trang Port stake; Experts forecast M&A surge in property sector; FDI disbursements surge 45% in eight months; More industrial parks licensed in HCM City; Gov’t introduces tax relaxation measures

Bad debts of unprofitable SOEs’ burden government

 A growing number of economists have expressed serious concerns about the state of Vietnam’s public debt. Their biggest worry: the rapid growth of government-guaranteed debt, now increasing at a 50 percent annual rate.

Commercial banks are indifferent to SBV refinancing

Surprisingly, no commercial bank has asked for refinancing from the State Bank (SBV), although SBV is ready to disburse funds.

Restructuring necessary to help farmers enjoy better livelihoods

 VietNamNet Bridge – The key objective of restructuring the agriculture sector is to raise the income of 15 million farmers, Minister of Agriculture and Rural Development Cao Duc Phat told Viet Nam Economics Times.

Banks fail to build customer loyalty

 VietNamNet Bridge – Vietnamese customers are not loyal to retail banks, as 65–77 per cent of surveyed people were ready to close their banking accounts and change to another bank.

Foreign sources needed to settle bank debts: economists

 VietNamNet Bridge – Economists have urged banks to look to foreign sources to settle their bad debts as Vietnam Asset Management Company (VAMC) has limited funds and can issue special bonds only.