At a working session with VDB leaders in Hanoi on August 11, Prime Minister Nguyen Tan Dung highly rated the bank's efforts to speed up production and exports, curb economic decline, maintain growth and macro-economic stability and ensure social security over the past three years. The VDB has provided loans for major national programmes in such areas as electricity, shipbuilding, chemicals, mechanical engineering, agriculture and rural development, infrastructure construction, waste treatment and safe water supply, he said. The Government leader, however, said that the bank's lending is still too limited and has not yet satisfied the demand for capital for economic growth and exports. Along with this, Dung brought the bank to task for its unprofessional operations as well as its weak banking management and forecast capacity. He urged relevant ministries and agencies to coordinate with the VDB in reviewing projects that receive its loans in order to ensure progress is being made. … [Read more...] about Vietnam Development Bank urged to up efficiency, effectiveness of lending
Vietnam development
JETRO to help Vietnam develop supporting industry
Hanoi Times - The Chairman of the Japan External Trade Organization (JETRO) has affirmed that helping Vietnam develop its supporting industry is one of his organization's priorities in the coming time.Talking with a Vietnam News Agency reporter during his working visit to Viet Nam from April 2-4, JETRO Chairman Yasuo Hayashi said that JETRO will collaborate with Viet Nam to organize an exhibition on the supporting industry in Ho Chi Minh City at the end of the year. "This will be a good opportunity for Japanese businesses and Vietnamese components suppliers to meet and seek cooperation possibilities," said Hayashi.JETRO has cooperated with the Vietnam Trade Promotion Department (Vietrade) to host three similar exhibitions since 2004. The 2007 exhibition saw more than 130 Vietnamese and Japanese businesses sign 50 cooperation agreements.JETRO plans to work with the Vietnam Chamber of Commerce and Industry (VCCI) and the Kansai Economic Federation of Japan to organize … [Read more...] about JETRO to help Vietnam develop supporting industry
Vietnam Development Bank to sustain 10 pct credit growth
The Vietnam Development Bank (VDB) will maintain an average credit growth rate of about 10 percent per year between now and 2020, according to the bank's medium-term strategies approved late last week by Prime Minister Nguyen Tan Dung. Such a growth rate will ensure financial safety and consolidate the sustainability and efficiency of a bank which does not target profits to implement Government policy tending. Any profit will be used to guarantee the bank's capacity to carry out investment and export lending policies and other tasks assigned by the Government to help fulfill the nation's socio-economic development strategies and plans in different periods. According to the approved plans, the VDB will build a roadmap to increase its charter capital to 20 trillion VND (952.38 million USD) in 2015 and 30 trillion VND (1.43 billion USD) in 2020, which is the equivalent to 10 percent of the total State lending for investments and export. It with concentrate credits on areas … [Read more...] about Vietnam Development Bank to sustain 10 pct credit growth
Investment promotion in Cambodia-Laos-Vietnam development triangle
(VOVworld) - The 7th conference on investment, trade and tourism promotion in the Cambodia-Laos- Vietnam development triangle opened in Kon Tum city on Wednesday. Over the past few years, the three countries have strengthened cooperation in these fields. The trade turnover between Vietnam and Laos this year totaled nearly 900 million USD, up 18% against last year. Meanwhile two way trade value between Vietnam and Cambodia reached more than 3.2 billion USD this year, up 14%. Laos and Cambodia are currently the two largest investment destinations of Vietnamese enterprises accounting for more than 50% of Vietnam's overseas investment value. In 5 provinces in the development triangle in Vietnam, Laos has 5 projects with total capital of 77 million USD and Cambodia has 2 projects worth 18 million USD. The conference attendees highlighted outcomes the three countries achieved in the development triangle but agreed that these results have not matched their potential. Dang Xuan Quang, Deputy … [Read more...] about Investment promotion in Cambodia-Laos-Vietnam development triangle
Singapore helps Vietnam develop cruise tourism
Singapore helps Vietnam develop cruise tourism By Dao Loan - The Saigon Times Daily HCMC- A group of entrepreneurs from Singapore Tourism Board (STB) will be coming to Vietnam for a survey trip next week to help develop cruise tourism. The group representing STB, Royal Caribbean International, and KOP Group will inspect the Interflow Port in Ba Ria-Vung Tau, and Navi Oil and Lotus ports in HCMC, and others in Nha Trang and Con Dao, the source said. "The participants will suggest suitable locations to build ports for cruise ships along with measures to develop products, spur investment and other activities to boost the segment in the future," said Nguyen Anh Tuan, deputy head of the Travel Department under the Vietnam National Administration of Tourism. This is the second survey trip by Singaporean tourism experts to the country. Last year, Danang's Tien Sa port was selected as the best location for the cruise port in the region after the group toured the sea ports in Danang, Quang … [Read more...] about Singapore helps Vietnam develop cruise tourism