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Update news debts
VietNamNet Bridge - Commercial banks have been allowed to keep Vinashin’s bad debts in “pending” status and do not have to declare the debt as bad debt on their financial reports.
Vinalines chased by creditors from all four sides
VietNamNet Bridge – The government has not yet made any decisions to
help Vietnam National Shipping Lines (Vinalines) find a way out of its
massive debt obligation. Meanwhile, creditors have chosen different ways
to deal with the shipping firm.
Sports ministry official absent at news briefing
VietNamNet Bridge – A representative of the Ministry of Culture,
Sports and Tourism did not show up at a news briefing held on April 1
after the Government’s regular meeting as public concerns are mounting
over a patchy plan
Justice Ministry authorized to tackle int’l investment disputes
VietNamNet Bridge – The Ministry of Justice (MoJ) is the legal
representative of the Government in dealing with international
investment disputes as said in the Prime Minister's Decision No.
4/2014/QĐ-TTg.
Gold JV reopens after talks with suppliers, authorities
VietNamNet Bridge – A joint venture gold company in central Quang Nam
Province's Phuoc Son District resumed operations over the weekend.
Hundreds of people surround gold mining company
VietNamNet Bridge - Nearly 200 traders and building workers
surrounded the Phuoc Son Gold Company in the central province of Quang
Nam yesterday, December 26, to claim debt payments.
State groups owe over $64.3 billion
VietNamNet Bridge – Many state corporations have the debt-to-equity
ratio of up to a dozen times. Overdue debts of the Vietnam Oil and Gas
Group or the Vietnam Maritime Corporation are up to
trillions of VND.
Banks struggle to hit lending goal
Significant challenges remain for the banking industry to reach the
annual credit growth target this year, despite certain improvement in
lending situation, State Bank of Viet Nam (SBV) officials said.
Having no money, businesses issue shares to pay debts
VietNamNet Bridge – A lot of big debtors have issued shares recently to specific partners as a method to pay debts.
Irrecoverable debts on sharp rise
VietNamNet Bridge – Of the VND6.5 trillion worth of debts the Vietnam
Asset Management Company (VAMC) has bought so far, 67 percent is in the
real estate sector.
Vietnam pays $2.81 billion of foreign loans and aid
According to the General Statistics Office of
Vietnam, by July 15, 2013, Vietnam paid foreign debts and aid worth
VND56.2 trillion ($2.81 billion), equivalent to 53.5 percent of the
yearly estimate.
BUSINESS IN BRIEF 19/7
PM orders agencies to tighten their belts; Drop in profits revealed by BVS; Banking sector remains tainted by widespread corruption; Construction ministry outlines housing strategy; Metro pulls sturgeon from its shelves
When “super trees” die together with giants
VietNamNet Bridge – Bonsais of an entrepreneur named Khang were distrained because Khang could not pay his debts.
Illegal loaning found at Sacombank
The State Bank of Vietnam’s inspectors have come to a
conclusion that the loans to Dang Van Thanh and his family’s companies some
years ago were illegal, forcing Thanh to pay debts to reduce the outstanding
loans to the allowed level.
Big state owned economic groups, general corporations are huge debtors
The total debts of 1,300 trillion dong incurred by SOEs have been described by the
Steering Committee for Enterprise Renovation and Development as “within the
safety line.” Meanwhile, economists do not think so.
A great many ways farmers chase debtors
VietNamNet Bridge – With farmers being the creditors, who are the poor and do
not want to spend money and time on lawsuits, they have been applying their
special methods to collect debts.
Domestic aviation market still unattractive to airlines (part 3)
VietNamNet Bridge – The domestic aviation market has turned out to be not
lucrative as thought.
