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Update news bank

 Viettel joint venture wins award in Mozambique; Exports to France surpasses US$1 billion; 7-month trade deficit runs at US$277 million; IFC supports Vietnam’s economic growth

BUSINESS IN BRIEF 15/8

 Renewing procedures for FDI attraction; US imposes import duty on Vietnamese shrimp; Deals worth 17 bln VND inked at EWEC fair; Money supply rises 5.3% in H1

VND600 million of counterfeit money seized at Vietnam-China border

 VietNamNet Bridge - One of the largest amounts of counterfeiting money – over VND600 million ($30,000) was seized by the authorities of Lang Son province at the Vietnam-China border on August 1.

The companies top for payroll in Vietnam

 VietNamNet Bridge – In this list are the corporations in the fields of oil and gas, power and finance-banking.

Banks forced to stop the game with gold

The State Bank has successfully forced commercial banks to stop the mobilization and lending in gold, which, as described by experts “successfully put down the chaos on the gold market.” However, risks still exist.

“Dumping” in monetary market, big bankers refuse dong?

The move by some big bankers to slash interest rates has raised big worries to smaller bankers, who fear that the “dumping” in the monetary market would prompt people to unanimously withdraw money from banks to buy dollars, gold or pour into stocks.

Dollar appreciation makes businesses worried stiff

The dollar price increases have put businesses on tenterhooks, though it is now just the third quarter of the year, while they would only need more dollars in the fourth quarter to make payment for the imports.

BUSINESS IN BRIEF 1/7

 Inquiry launched into tax-free car scam; Inquiry launched into tax-free car scam; Snail-paced projects revoked in Quang Ngai; Firms told not to rely on banks; Banks push bad debt reforms

Binh Thuan: Thief oversleeps in bank

 VietNamNet Bridge – While hiding himself from guards in a bank, a thief overslept and was arrested.

BUSINESS IN BRIEF 25/6

 Highway 1 expansion projects begin; Realty firms say rules forced them to build large condos; Latest export, import performances unveiled; Computer market bounces back: IDC

Big banks rush to build new offices

 VietNamNet Bridge – Despite the current big difficulties, commercial banks still have been implementing their plans to build new offices which cost tens of trillions of dong.

Yen falls ahead of Bank of Japan meeting

 The yen fell sharply against other major currencies Monday ahead of the end of a two-day meeting of the Bank of Japan.

BUSINESS IN BRIEF 1/6

 Vietnamese banks’ outstanding loans rise 4.75%; US$1bn target for fruit and vegetable exports within reach; Vietnam considers anti-dumping investigation into imported steel; FTA opens doors for garment industry in Vietnam

Banks to sell non-performing loans

 Banks with non-performing loan ratios of 3 per cent or more will have to sell the loans to the Viet Nam Asset Management Company, a new group due to officially begin operations on July 9 this year.

BUSINESS IN BRIEF 23/5

 Restructured Viettel to concentrate on core business; SME owners determined to succeed; Moody's rating for VietinBank ‘stable'; Vinacomin clarifies tax confusion

Bank scotches currency rumours

 VietNamNet Bridge – The State Bank of Viet Nam denied speculation last week that it was preparing to adjust the exchange rate.

BUSINESS IN BRIEF 29/4

Cruise tourism to get popular in coming years; FTA talks may bring GI assistance; VN slaps extra duty on veggie oil imports; Stanchart: SBV to cut rates further; Banks announce reduction in executive pay

BUSINESS IN BRIEF 25/4

Russian firm approved for a car and bus plant; Talks on FTA with EU hit snags; Highway to project completion; Supporting industry needs to muscle up; $7bn power plan faces short circuiting

BUSINESS IN BRIEF 20/4

 Double textile export to U.S. in sight; Firms seek diversification for tra fish exports; Rice prices fall despite successful bid for export; HCM City calls for investments into Thu Thiem

BUSINESS IN BRIEF 19/4

Japan to fortify supporting industries; Rental housing sector to fire up; Ha Noi to open 1,400 hotel rooms; Garment exports grow 32%; Small wood processors face shortage of capital