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Update news bailout
Greek and eurozone officials have failed to reach an agreement over Greece's debt crisis, though both sides said there was still hope for a deal.
VND30 trillion bailout fails, SBV plans VND50 trillion package
The State Bank of Vietnam (SBV) has submitted to
the government a plan on launching a VND50 trillion a credit package
aiming to help revive the commercial housing market.
Should the gov’t bail out State-owned enterprises?
The government has unexpectedly proposed to the
National Assembly the use of the state budget to settle bad debts
incurred by SOEs, even though the legislature has said that SOEs must
take responsibility for their debts.
Ministry rejects rumors of the VND100 trillion bailout for real estate
The spokesperson of the Ministry of Construction has confirmed that the Ministry did not
compile any project to support the real estate market with a VND100
trillion credit package as some newspapers reported
in the last few days.
VND30 trillion bailout won’t rescue real estate market?
The Ministry of Construction and the State
Bank both have loosened the requirements on the borrowers of the
VND30 trillion package in an effort to speed up the disbursement.
However, the power is in the hands of commercial banks.
BUSINESS IN BRIEF 6/11
Bailout disbursed in dribs and drabs into real estate; SBV puts forward plan to increase lending given low credit growth; Vietnam Airlines to sell 2.7pct stake in Techcombank; Gov’t asked to contain inflation to attract more investors
VND30 trillion bailout disbursed in dribs and drabs
VietNamNet Bridge – Government officials and experts have become
impatient about the slow disbursement of the VND30 trillion bailout to
be pumped into the real estate market.
BUSINESS IN BRIEF 24/7
Ways sought for homebuyers to access stimulus package; Saigon Newport expands wharfs, warehouses; M&A deal value surges five times
State Bank urges disbursement of VND3tri. bailout
As the disbursement of the VND30 trillion
bail-out is delayed, the State Bank of Vietnam (SBV) has asked five
banks to quickly receive client applications and quickly respond them.
House purchasing loans still waits for criteria on “poverty line”
VietNamNet Bridge - The Ministry of Construction has not made public
the standards to define who the low income earners are, so it is
difficult for banks to grant house-purchasing loans to this subject.
After fighting against inflation, VN now tries to stimulate demand
The bailouts, if they are launched, should target consumers in order
to stimulate the demand, experts say, warning that the deflation, if it
occurs, would be more dangerous than the inflation.
Aggregate demand cannot be recovered just on exports
The consumer price index (CPI) decrease in May is
the indicator showing the weak aggregate demand in the national economy
which needs to be stimulated to recover the economic growth.
Building material manufacturers regain consciousness on warming market
VietNamNet Bridge – The frozen real estate market is defrosting on
the information about the disbursement of the VND30 trillion bailout,
which has also revived the building material industry
Real estate bailout kicks off
The VND30 trillion bailout is believed to help warm up the real
estate market, provided that the money can be driven to the right
addresses.
BUSINESS IN BRIEF 17/5
World electronics forum opens in capital; Hai Duong's IZs absorb $3 billion; VN rises as smartphone producer; Steel industry set to apply new standard; New stimulus plan buoys stock market
Rescue agriculture production or estate market?
VietNamNet Bridge – Arguments have been raised about who the
government should gather strength to rescue, real estate developers or
farmers, if they both are sinking.
Government thinks too much when rescuing businesses
The national economy remains very pale, while businesses
have died like flies. Meanwhile, the government is still busy with particular
calculation when mapping out the solutions to rescue businesses.
SBV promises bailout, real estate developers bubble over with joy
Real estate developers have sighed with relief after
relevant ministries agreed to pump money into the frozen real estate market to
rescue it.
Businesses complain they don’t receive proper care from the State
Businesses have been caught into a vicious circle. Since
they cannot borrow money, their production has become stagnant and they cannot
pay bank debts. And since they cannot pay debts, they cannot access bank loans.
