Hanoi backs support industries; State petrol management may loosen; Hanoi hosts Vietnam-Japan Economic Summit; Car makers plead for Gov't help

The increase of coal and gas prices made input costs of the Electricity of Vietnam Group or EVN rise by VND7.2 trillion in 2013. In the first half of the year, EVN’s debts to the gas and coal groups nearly VND10 trillion ($476 million).

 Siu Black, a prominent Vietnamese popular singer from the Central Highlands, has admitted that she in fact owes  around VND10 billion (USD476,190), not the recently announced VND2.5 billion.

 The combined bad debts of BIDV, Vietcombank and Vietinbank reached more than VND23.1 trillion (US$1.1 billion) in the first half of the year, according to the composite mid-year financial report of the three leading commercial banks.

Finance reports released by commercial banks showed that their bad debt ratios have fallen down to below 3%. This spells that the Vietnam Asset Management Company VAMC, established to help set banks free from bad debts, will have no job to do.

 Domestic coffee businesses were preparing to report their bad debts to the State Bank and related ministries by August 15, according to Nguyen Viet Vinh, general secretary of the Viet Nam Coffee and Cocoa Association (VICOFA).

 VietNamNet Bridge – Experts have warned that the Vietnam Asset Management Company (VAMC) may be “jobless,” because it may have no debt to trade.

 VietNamNet Bridge – Lang Son Province Police on Sunday arrested a couple to investigate the act of appropriating property.

According to a report from the General Department of Taxation, arrears of tax in the first half of 2013 reached VND64.632 trillion ($3.23 billion), up 32 percent compared to 2012 and 30 percent over the same period.

 Ways sought for homebuyers to access stimulus package; Saigon Newport expands wharfs, warehouses; M&A deal value surges five times

 Bottlenecks in fight against sturgeon smuggling; Vietnam dragon fruit to go back to Taiwan; Pepper exporters running out of stock; FIEs suffer from dismal supporting industries; VinaPhone, Viettel launch mobile money transfer

 VietNamNet Bridge – The Vietnam Textile and Garment Group (Vinatex) has completed the audit and business valuation for its first issue of shares to the public (IPO) in the fourth quarter of 2013.

VietNamNet Bridge – Pham Chi Mai, 26, has been struggling to pay off her credit cards after an impromptu spending spree three years ago. The money she has borrowed has now reached nearly VND100mil - rather a lot of credit for someone her age

 VietNamNet Bridge - These days the number of seafood processing workers in Tra Noc Industrial Zone (Can Tho City) and Trung Hoa Industrial Zone (Ca Mau) have been reducing.

 Cell phone export to UAE reaches US$1.36 billion; Garments and textiles to enjoy zero percent tariffs; Major infrastructure investment priorities discussed; SOE cutbacks expected as State tightens belt

 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

Being unable to pay her debts, suffering from persecution, the vice chairwoman of Hoa Thuan Tay Ward in Da Nang City left office in early April, taking her two children away from home.

VietNamNet Bridge – The debt burden on the country will get heavier in the coming years, with debt obligations forecast to rise from VND126.8 trillion this year to VND152.6 trillion in 2014 and VND173.1 trillion in 2015.

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

Possible tax breaks cause concern for budget; Economist urges removal of interest rate caps; Steel sector sees positive signs in 2013; Possible tax breaks cause concern for budget