I. ECONOMY 1. Manufacturing: 1.1. Industrial manufacture: - Estimated value of industrial manufacture in 4/2009 is VND 6,405.5 billion (fixed price in 1994), up 1.4% against last month. The first four months reach VND 24,982.5 bil, achieving 27,2% of the plan and up 6,9% compared with the same period last year. a/ Central state industrial sector: Estimated value of industrial manufacture in 4/2009 is VND 674.9 billion, equal to 96.2% last month; the first four months reach 2,446.5 bil, achieving 25.4% of the plan, equal to 95.2% the same period last year. … [Read more...] about Socio-Economic Overview in April 2009 and the first four months of 2009; Some key tasks in May 2009.
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Warning status on EIB shares extended Shares of the Vietnam Commercial Export and Import Bank (Eximbank) will continue to bear a warning status after the bank reported retained losses of VND756.8 billion ($33.9 million) as at June 30. The share was first given a warning status by the Ho Chi Minh City Stock Exchange (HoSE) on April 8 because of its retained losses, which it has failed to address. HoSE will now consider the next step in reviewing Eximbank's status based on the bank's audited consolidated financial statements for 2016. Eximbank's after-tax profit for the first six months of this year reached VND60.7 billion ($2.7 million), with retained losses of VND756.8 billion ($33.9 million). As at June 30 the bank's lending balance stood at VND80.8 trillion ($3.6 billion), down 4.62 per cent compared to the end of 2015. Its credit balance was VND100.7 trillion ($4.5 billion), up 2.33 per cent compared to the end of 2015, with total assets at VND121.7 trillion ($5.4 billion), down 3.3 … [Read more...] about BUSINESS IN BRIEF 13/9
It is unusual that this year Vietnam has been affected by two continuous shocks, called the “two crises” by some experts. Also this year, Vietnam has had to change its priorities twice. The two shocks have brought the country face to face with the threat of stagnation. The first crisis That was the crisis of fuel, food, steel prices, etc. in the world. Some said that as Vietnam has crude oil and rice for export, so the country might have benefitted from this crisis and avoided negative impacts. It is true that Vietnam exports crude oil, but it imports plenty of petroleum. The increase of food prices in the global market also made food prices in the local market rise. Vietnam’s high inflation was due to local factors, plus impacts from the global crisis. The local factor originated from the country’s pursuit of high economic growth, which brought about an increase in the total mode of payment, an increase of outstanding debt higher than the growth of … [Read more...] about Vietnam’s economy: one year, two crises
Vietcombank cuts lending interest rates Vietnam Commercial Joint Stock Bank for Foreign Trade, better known as Vietcombank (VCB), has officially announced lowering the lending interest rate. The interest rate easing policy has been approved by the bank's board director board, Nguyen Thu Ha, Vietcombank's deputy general director, told Thanh Nien newspaper. Particularly, the lending interest rate in dong has been reduced by 2 percent per year, commercial loans and short term services at 17 percent per year, short term loans to serve production at 16.5 percent per year, and short term loans for exports at 16 percent per year. VCB's consumption lending interest rate has been also been winded down, of which short term loans will cost 18 percent per year, medium and long term loans at 18.5-19 percent per year and the lending interest rate for securities and real estate sectors at 20 percent per year. However, the reduction of lending interest rates will initially be applied for … [Read more...] about BUSINESS IN BRIEF 16/2
Tran Viet Anh is taking a trip across Southeast Asia by bicycle in order to raise money for charity.The funds collected will be used to purchase five tons of rice to help the Vietnamese community living in floating villages on Tonle Sap Lake, Siem Reap, Cambodia, on the upcoming occasion of the Lunar New Year.Beginning on February 16, Vietnam’s Lunar New Year is the biggest celebration in a year.The 25-year-old, who started the journey on December 1 in Hat Yai, Thailand, has arrived in Bandung, Indonesia, completing about one-third of his trip. He plans to travel around Southeast Asia for 60 days.For a guy on the road with a bicycle, the places he stays at night vary.“I’ll sleep there as long as there is a roof, In Malaysia, I sleep at Islamic mosques. In Indonesia, I sleep at the desa [an administrative village] to get to know the villagers, or look for those who could let me camp.”Anh shared one recent story involving staying at a person’s … [Read more...] about Vietnamese guy cycles across Southeast Asia to raise charity funds