Business

Banks announce encouraging business results for first half

Commercial banks have reported satisfactory profit for the first half of 2009, forecasting that the fulfillment of their yearly business plans is within reach. On July 1, Maritime Bank became the first member of the banking system to officially announce its business results for the first six months of 2009.  Maritime Bank’s pretax profit was reportedly... Read more

Fisheries, farms hunt for markets

LookAtVietnam – The agro-forestry and fishery industry need to find new markets, promote trade and boost production to achieve their export target of US$12.5 billion for this year, said Deputy Minister of Agricultural and Rural Development Luong Le Phuong. Fishermen harvest tra catfish in the southern province of An Giang.The sector also had to build a... Read more

Vietnam still lacking programme for preservation of fruit

Vietnam still cannot earn much money from fruit exports, not because it lacks orders, but because it does not have enough fruit of the necessary quality. Luc Ngan litchis before being shipped to ChinaIn the north, litchi and longan are considered the two kinds of fruit most suitable for export thanks to the big growing areas and high-quality products. However,... Read more

BUSINESS IN BRIEF 2/7

Vietnam leads in foreign arrivals to Cambodia; Textile and garment exports to Japan expect 20 percent rise; Construction begins on 28 million USD beer plant; Ben Tre invites investment in several sectors    Vietnam’s textile and garment exports to Japan is forecast to grow by 20 percent year on year to between 900 million USD and 1 billion... Read more

The troubles of Vietnamese banks

Experts have affirmed that what needs to be done now to prepare for the post-crisis period is to restructure the banking system. Nguyen Duc Huong, General Director of Lien Viet Bank, when talking about the weak points of domestic banks, said that recently, when Vietnam’s national economy was at its lowest and domestic banks had to refuse many clients because... Read more

Gold trading floor is playing field of banks only?

The most important provision of the draft regulations on the operation of gold trading floors is that gold trading floors must be organised by commercial banks. Many of the current 15 operational gold trading floors have been set up by commercial banksA finance expert said that according to international practice, gold trading floors should be managed by legal... Read more

FTA with Vietnam set as EU priority under Swedish presidency

The European Union (EU) is moving ahead on negotiations on a free trade pact specific to Vietnam , a long process that is expected to be complete by October 2010. The remarks were made by Sean Doyle, Ambassador and Head of the EU delegation to Vietnam, at a press briefing in Hanoi on the occasion of Sweden assuming its six-month presidency.According to Swedish... Read more

Frozen meat piled up at Chinese border

VietNamNet Bridge – Thousands of containers of frozen meat which were transiting Vietnam enroute to south China when the H1N1 flu scare occurred are still stuck in  northeast Vietnam.  Thousands of containers of frozen meat which were transiting Vietnam enroute to south China when the H1N1 flu scare occurred are still stuck in northeast... Read more

Vietnam reports faster growth as Asian economy figures improve

The industry and construction component, which makes up 39 percent of Vietnam’s economy, grew 3.5 percent in the first half. Vietnam’s economic growth accelerated in the second quarter, buoyed by construction activity, amid indications of a broader regional recovery. The country’s gross domestic product... Read more

Central bank bans dollar sales fees

Vietnam has prohibited commercial banks from charging fees or commissions on the sale of US dollars in a bid to curb dollar sales outside the trading band, according to a statement on the central bank website Wednesday. Commercial banks are not allowed to trade the greenback at more than 5 percent on either side... Read more