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Economic News
Visit boosts Japan agri-business

Scores of Japanese firms are eyeing Vietnam’s agricultural sector as a potential investment goldmine.

Dak Nong ideal for hi-tech agriculture

The Central Highlands province of Dak Nong’s primary target in its agriculture development is building a comprehensive system geared toward modernity and sustainable development with high competitiveness capitalised by large-scale hi-tech commodity-based production.

Tunnel project to link Phu Yen with Khanh Hoa

More than 15.6 trillion VND will be spent to build a tunnel through the Ca and Co Ma mountains to link up the two central provinces of Phu Yen and Khanh Hoa.

Over the past year, the US Embassy’s Foreign Commercial Service has linked up many US businesses with Vietnamese partners for franchise deals, said an embassy representative

Pepper exports to rise due to robust demand

HCM CITY — Viet Nam, the world's largest pepper exporter, is expected to ship 120,000 tonnes worth US$800-850 million this year, more than a fifth up in value, according to the Viet Nam Pepper Association (VPA).

Firms fail to access credit despite new interest cap

HA NOI — A ceiling lending interest rate of 15 per cent was officially applied for four prioritized sectors yesterday as the State Bank of Viet Nam's Circular 14/ 2012/TT-NHNN came into effect, but industry insiders said conditions remained difficult for firms to approach bank loans.

Besides the industrial manufacturing sector as a key investment area, the retail sector in the southern province of Binh Duong has emerged as a new magnet for foreign companies.

New initiatives sought to ride out tough times

The prospect of the domestic property market is forecast to remain glum in the new year. So local developers are finding ways to adjust their business strategies for survival.

Banks profit despite economic woes

Benefiting from high interest rates, most of the nation's major commercial banks managed to post healthy earnings and remain profitable during 2011 despite restrictions on credit growth and ongoing economic difficulties. Vietinbank was the nation's most profitable commercial bank last year, according to its chairman, Pham Huy Hung.

Vietnam strives for trade balance by 2020

Vietnam, in its 2011-2020 strategy, sets a target of achieving a balance of trade in 2020

ADB backs Vietnam policy reforms

HANOI - The Asian Development Bank (ADB) and the Government on Tuesday signed a US$24.8 million loan agreement to support policy reforms needed for fostering the country’s inclusive growth and ensuring further poverty reduction.

Viet Nam makes list of hottest economies

HA NOI — The World in 2050, a research publication issued by the Hongkong and Shanghai Banking Corp (HSBC) earlier this month, ranks Viet Nam among 26 fast-growth economies in the world.

Vietnam's sky-high inflation, and high depositing and lending rate, followed by a series of individual insolvencies and bankruptcies as the consequence, are the most noticeable among Vietnam’s top economic events in 2011. 2. Ficombank, TinNghiaBank and Saigon Commercial Bank (SCB) were the first three banks to be merged

Agriculture and rural development would be given priority to access bank loans while tightened monetary policies are kept in place for the non-production sector. The Governor of the State Bank of Viet Nam (SBV), Nguyen Van Binh, spoke to the local press about the bank's monetary policies for the short-term future.

Citing the current laws of China and the World Trade Organization (WTO), lawyers believe that Vietnam can gain the upper hand over the Chinese defendant who has been accused of stealing Buon Ma Thuot geographical indication.

Vietnam has enough airports to accommodate private aircraft, and the country will expand its major airports if necessary, a senior aviation official said.

Private airline VietJet Air said it would operate as a low-cost carrier with its first commercial flight next month.

Vietnam has successfully challenged anti-dumping lawsuits by the US at the WTO and will continue to act in its own interests.

Vietnam on Sunday launched the biggest and most modern tanker ever produced by the country in the central province of Quang Ngai.

The Vietnamese central bank’s decision to raise a benchmark interest rate last month is helping support the nation’s currency, according to the International Monetary Fund.


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