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Update news debts
As many companies cope with debts caused by the economic fallout due to the pandemic, they are unable to take loans for maintaining or expanding their business lines.
The health crisis has led to huge demand for capital for Vietnam to fuel domestic production activities and medical treatment.
The State Bank of Vietnam has said it would continue to direct credit institutions to control credit in potentially-risky areas such as real estate and securities, especially Build-Operate-Transfer and Build-Transfer transport projects.
Six Asia-based investors of Huy Vietnam are filing a lawsuit against founder Huy Nhat for suddenly closing the Mon Hue restaurant chain.
The government has set targets for public debts, government debts and foreign debts to ensure they are within the limit and lower than the national financial plan in the 2016 – 2020 period.
Deputy Prime Minister Vuong Dinh Hue chaired a meeting on September 6 to review the progress of concerned ministries, agencies and companies in the handling of 12 major struggling industrial projects.
In a rather rare public embarrassment, a number of restaurants in a district of central Nghe An Province are accusing the authorities of skipping the bill after they hosted guests at the eateries.
VietNamNet Bridge - Most of the foreign debt incurred by state-owned general corporations are in their core business fields, and as such they have to look for capital to run projects.
VietNamNet Bridge – The Ministry of Finance on Monday held a press conference to explain causes on state budget balance that the public currently raise concerns about.
The leaders of Greece, France and Germany have agreed to intensify negotiations with Athens' creditors, but there was little sign of progress.
VietNamNet Bridge - The banks’ debt sale has been going very slowly because a powerful buyer, the Debts & Assets Trading Corporation (DATC), wants to buy debts cheaply.
The eurozone has said only six working days are left for Greece to come up with a revised list of reforms to seal a deal on its next rescue bailout.
VietNamNet Bridge – Following the sale of Hai Phong Port, Vietnam National Shipping Lines (Vinalines) has decided to sell Nghe Tinh Port and hopes to gain enough money to pay its debts.
VietNamNet Bridge – Debts owed by State-owned enterprises (SOEs) to both domestic and foreign creditors are too big for the Government to shoulder, especially at a time when public debts are posing a big headache.
VietNamNet Bridge – Businesses that evade paying social insurance premiums for workers should be punished more harshly, the deputy general-director of Viet Nam Social Insurance, Do Van Sinh, said at a meeting on Wednesday.
VietNamNet Bridge – Strong measures are being proposed to put struggling Vinalines, once a leading player in the shipping business, back afloat.
VietNamNet Bridge – Viet Nam is considering issuing US$1 billion in sovereign bonds for the third time to swap with debts that are becoming due next year. But the proposal still needs to be evaluated based on potential cost,
VietNamNet Bridge – The bad news about tax evasion and debt repudiation cases by foreign invested companies has darkened Vietnam’s foreign direct investment (FDI) landscape.
Gazprom has reaffirmed its Monday deadline for Ukraine to pay its debts after talks between Moscow and Kiev ended without agreement.
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.