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Update news restructuring
VietNamNet Bridge – Vietnam’s entry into the WTO has helped boost agricultural exports, however it has also worsened the national trade deficit and may lower agricultural export surpluses in the future.
VietNamNet Bridge - For years, the word "restructuring" has become so familiar to many people, but not many people have seen the results of restructuring. Experts say that they have just heard about restructuring, not seen it.
VietNamNet Bridge – Dinh Minh Tuan from the Advisory Council to the National Assembly Committee for Economic Affairs tells Countryside Today newspaper that banking sector reform remains a crucial priority.
VietNamNet Bridge – The restructure plan of the Vietnam Posts and Telecommunications Group (VNPT) is expected to launch in September, in which MobiFone will likely be separated from the group.
VietNamNet Bridge – The State Bank of Vietnam (SBV) will be able to acquire stakes in those banks kept under special control when Decision 48/2013/QD-TTg of the Prime Minister takes effect on September 20.
Market rallies as VAMC moves ahead; Yen devaluation troubles exporters; Rice buy mapped out; HCM City plans restructuring; Resource shortages cause public concern; Firms plan to hire more people in the coming year
From now to 2014, the first-class stated owned ports -- namely Hai Phong, Da Nang, Quang Ninh, Saigon and Quy Nhon would undergo the equitization process, during which 25-49 percent of the state’s capital would be sold.
A new wave of big investors withdrawing capital from securities companies has been noted. Securities companies turn out to be not the geese that lay golden eggs as they previously thought.
The number of Vietnamese commercial banks would decrease from 39 currently to 13-15 by 2017, according to Stoxplus, a finance information service firm.
Vietnam, China deal on farm produce trading; Hanoi and HCM City CPI down in April; Eximbank lends US$100 million to Vietnam Airlines for B787; Garment exports pick up
Merger and acquisition (M&A) plans are a topic of discussion at many banks’ shareholder’s meetings.
Weak banks would be put under the special control, forced to merge to others or go bankrupt if necessary.
VietNamNet Bridge – Vietnam’s restructuring banking industry is moving ahead with plans to cut staff after initially announcing plans to cut salaries and bonuses for their staff in the 2013 Lunar New Year.
Small banks, which are the subjects to the compulsory restructuring in 2012, have geared up for their restructuring plans, when 2012 would finish in a couple of weeks.
With their confidence in Vietnam’s business environment badly damaged, private entrepreneurs urged the Government to carry out reforms while ensuring macroeconomic stability in order to overcome the current difficult situation.
The central bank’s inspection at nine local lenders has been complete but the restructuring of the local banking system and the handling of weak commercial banks have fallen behind schedule,