14 commercial banks to lend for summer-autumn rice purchases

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Photo for illustration (Source: ktdt.com.vn) (CPV) - The State Bank of Vietnam (SBV) on June 12 issued document 4142/NHNN-TD on loans to purchase 1 million tonnes of rice of the summer-autumn crop in the Mekong Delta for temporary reserves. Under the document, SBV allowed 14 commercial joint-stock banks to lend to businesses for purchasing, under the direction of the Prime Minister in Decision 850/QD-TTg. They are Bank of Agriculture and Rural Development, Bank of Foreign Trade, Bank for … [Read more...]

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Ba To marks its 40th anniversary on the Liberation Day

Mr. Pham Minh Toan - Deputy Secretary of the provincial Party Committee, Chairman of the provincial People's Council is delivering speech at the ceremony

In the morning of October 30th, at the March 11 Square, the Ba To district's Party Committee, People's Council, People's Committee, Vietnam Fatherland Front Committee formally organized the ceremony to mark the 40th anniversary of the district's Liberation Day (October 30th 1972 - October 30th 2012). Nguyen Hoa Binh - Central party Committee's Member, Chairman of Supreme People's Procuracy of Vietnam; Vo Van Thuong - Central party Committee's Member, the Quang Ngai provincial Party Committee's … [Read more...]

Ninh Binh, Lien Viet Bank win volleyball tourney

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Ninh Binh and Lien Viet Bank won men's and women's titles respectively at the 2010 National Volleyball Championships that ended Tuesday. Lien Viet Bank took the title after beating Vietsov Petro 3-1 in the final match in Hai Duong on Tuesday. … [Read more...]

Lien Viet Bank changes moniker following merger

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The central bank has allowed Lien Viet Bank to change its name to Lien Viet Post Joint-Stock Commercial Bank after joining forces with a subsidiary of state-owned Vietnam Post Corporation. Lien Viet Bank is now known as LienViet Post Bank … [Read more...]

IFC puts $505 mln towards trade finance for small businesses in Vietnam

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The World Bank's International Finance Corporation (IFC) has committed US$505 million in funding that has helped Vietnamese banks increase lending to small local companies engaged in import and export activities. The record funding is part of IFC's Global Trade Finance Program, which since late 2007 has helped nine local banks improve their capacity to cover the payment risk in granting trade financing to local companies, mostly small and medium enterprises, according to an IFC announcement … [Read more...]

Forest planting to help poor province

HA GIANG - (VNS) An afforestation project covering nearly 1,000ha has begun in northern Ha Giang Province's Xin Man highland area, one of the poorest districts in Viet Nam. Investment capital amounting to VND75 billion (US$3.6 million) has been provided by Lien Viet Post Bank and the State. This follows a Government resolution in December 2008 to help 62 districts escape dire poverty and involves the entire political hierarchy, business community and public. The project is expected to … [Read more...]

14 teams take part in open volleyball tournament 2012

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PANO - The Military Open Volleyball Tournament 2012 started on July 12th in Phu Dien Commune, Tu Lien District, Hanoi, with the participation of 238 athletes from six women's and eight men's volleyball teams from military and civilian units in Hanoi. During the tournament, the teams will be divided in two groups for the men's and the women's. The top team from each group will compete for the first prize, worth VND 15 million. The first match, between the Air Defense-Air Forces and Lien Viet … [Read more...]

Hau Giang Offers Golden Investment Opportunities

To learn more about investment opportunities in Hau Giang, Vietnam Business Forum has an interview with Mr Vo Ta Thang, Director of Hau Giang Department of Planning and Investment. Lan Ngoc reports.

Could you tell the results of investment attraction in Hau Giang province in 2011? Last year, many projects were behind schedule and many companies operated ineffectively. This reality was the result to objective factors like economic crisis, tightened monetary policies and high interest rates. However, Hau Giang always provided the most favourable conditions for business expansion, economic restructuring, infrastructure investment, and investment promotion in a bid to attract more investment … [Read more...]

Rice prices surge as Government begins stockpiling

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Businesses begun purchasing and stockpiling one million tonnes of rice on Thursday, as directed by the Government, which caused a surge in rice prices after a long period of slump in the Mekong Delta. Rice prices surge as Government begins stockpiling (Photo: SGGP) Rice prices increased by VND100-300 per kilogram since last weekend in Can Tho City and in Hau Giang, Vinh Long, Soc Trang, Tra Vinh and Dong Thap Provinces, where traders have stepped up purchase. Large volumes of unsold low-quality … [Read more...]

Hau Giang to host international women’s volleyball championships

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The sixth VTV Binh Dien International Women's Volleyball Tournament will take place in the southern Province of Hau Giang between February 18th and 26th. The event draws participation of eight teams, including the China's Jiangsu, Australian team, Pacific Petro Construction and Installation Corporation and VTV-Binh Dien Long An (Group A), and Thailand's youth team, Yang Sang (Republic of Korea), Viettinbank and Lien Viet Bank (Group B). All matches will be broadcast live on VTV2, VTV3 and … [Read more...]

SPORTS IN BRIEF 11/2

Athletes to compete in 2012 Asian Indoor Athletics Champs Four Vietnamese athletes will take part in the 2012 Asian Indoor Athletics Champs, to be held in Hangzhou, China, from February 16-19. The team coached by Duong Duc Thuy includes Duong Viet Anh (high jump), Tran Hue Hoa (triple jump), Nguyen Thi Phuong (3,000m run) and Nguyen Thi Thuy (400m run). The team's medal hopes are mostly on Duong Viet Anh, who has made good progress recently. Top sprinter Truong Thanh Hang will not join the … [Read more...]

Volleyball tourney gets underway

Long An and host Trang An Ninh Binh lead the men's category after their first matches on Thursday at the Hoa Lu Volleyball Cup in Ninh Binh Province. Long An defeated The Cong 3-0 and Ninh Binh beat PetroVietnam with the same score. On the women's side, Vietsov Petro beat Tien Nong Thanh Hoa 3-0 while Thai Binh lost 0-3 to Lien Viet Bank. Teams have taken part in a round-robin format competition with the top two teams heading to the final round. The tournament will end on Sunday. — VNS … [Read more...]

Int’l volleyball visits Hau Giang

The annual VTV Binh Dien International Women's Volleyball Championship will take place on February 18-26 in the southern province of Hau Giang. The eight teams participating have been divided into two groups: Group A includes China's Jiangsu, the Australian national team, Pacific Petro Construction & Installation Corporation and VTV-Binh Dien Long An while Thailand's youth team, South Korea's Yang Sang, Viettinbank and Lien Viet Bank are in group B. The champions will be awarded US$12,000 … [Read more...]

4 foreign teams to join VTV women’s volleyball cup

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Four local and four foreign women's volleyball squads will compete at the international women's volleyball tournament VTV - Binh Dien Cup to be held from February 18 - 26 in the Mekong Delta province of Hau Giang. The four teams representing Vietnam are VTV Binh Dien Long An, Thong Tin - Lien Viet Bank, VietinBank, and Pacific Petro Construction & Installation Corporation. The foreign squads include the Australian national team, Jiangsu club of China, Thailand's Air Asia - Suansunantha, … [Read more...]

BUSINESS IN BRIEF 13/1

Airliners increase flights for Tet National carrier Vietnam Airlines (VNA) said it will offer more services at nighttime during the period of high demand around the coming Lunar New Year, when most airports are overloaded during the rush hours. During the period between January 14 and 22, and January 24 and February 2, VNA will offer 24 hour services on the Ho Chi Minh City - Da Nang - Hanoi route. The first flight will take off at 5:30am, and the last at 11:30pm every day during those … [Read more...]

Experts predict worsened economy this year

Experts predict a gloomier year for Vietnam's economy in 2012 as the recession hits rock bottom. Photo: Reuters "Stronger measures must be taken to restructure the economy," director of the Vietnam Institute of Economics, Tran Dinh Thien, told a conference held by the National Financial Supervisory Committee earlier this year. "The world is on eve of a financial crisis and this has revealed the instabilities of Vietnam in the global economy. It'll be a very hard year for Vietnam and the … [Read more...]

Taking aim at single digit CPI growth

Experts have applauded the National Assembly's target of single digit consumer price index growth in 2012. Raymond Mallon, an Australian freelance economist with more than two decades' experience working on Vietnam's economy, told VIR that he was confident about the National Assembly's consumer price index (CPI) forecast for next year. "With strong political leadership, the National Assembly's CPI target for next year is both achievable and desirable, given the government's existing tough … [Read more...]

VNPT needs time to restructure

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Vietnam Posts and Telecommunications Group (VNPT) needs at least five years to divest its capital investment in non-core businesses, deputy general director Phan Hoang Duc has said. >> VNPT weighs up divestiture plans Currently, the VNPT has proposed a plan to the Government to withdraw investment capital in the amount of VND2 trillion ($95 million) from non-core businesses deemed to be inefficient and costly. Duc told Dau Tu newspaper that the group will maintain its stake in … [Read more...]

Banks urge real estate developers to pay debts

Commercial banks are applying strong measures to demand payment of debts, because they have to run against time to reduce the outstanding loans to non-production sectors to 16 percent by the end of 2011 as requested by the State Bank of Vietnam. The fact that PVL in late October 2011 announced the sale off of 85 apartments at PetroVietnam Landmark project to get money to pay debts can partially shows the current situation of real estate developers. PVL borrowed 100 billion dong from Lien … [Read more...]

Despite problems, banks still attractive enough to foreign investors

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VietNamNet Bridge - The pressure of the fierce competition in the banking sector and the ongoing bank restructuring process--both cannot lessen the attractiveness of the sector. Money keeps flowing into banks even in their most difficult period. Coming in and going out Three years ago, a big guy well-known among the Vietnamese bankers, who once very succeeded in the first development stage of Vietnamese joint stock banks, decided to set up a new bank. Everything got ready for him to make … [Read more...]