January 25, 2012
State-owned shipbuilder Vinashin almost collapsed under debts amounting to US$4.5 billion. Vietnam’s Prime Minister Nguyen Tan Dung told state-owned companies to submit restructuring plans, stepping up a drive to bolster the economy by raising efficiency and competitiveness. Detailed proposals involving steps such as selling stakes to private investors and disposing of non-core businesses must be [...]
Tags: companies, Government, inflation, owned, Owned Companies, plans, restructuring, Restructuring Plans, state, State Owned Companies, State-owned, Submit Restructuring, Submit Restructuring Plans, The economy, The government, The Nation, To Submit Restructuring, To Submit Restructuring Plans, Vietnam
Posted in News | Comments Off
January 11, 2012
An upswing in mergers and acquisitions in the banking system will occur this year, bringing the number of banks in Vietnam to below 30, the Dau Tu (Investment) newspaper has reported, citing experts. Economist Nguyen Tri Hieu said there will be a strong M&A wave in the sector as many lenders are looking for [...]
Tags: All Banks, Bad Debts, Bank Vietnam, banking, Banking Sector, Banking System, banks, Central, Central bank, Country, Dau Tu, debts, governor, Lenders, Merged, newspaper, percent, Report:, restructuring, Restructuring Process, sector, state, State-owned, strong, Strong Banks, system, The Banking, The Banking System, The central, The central bank, The country, The Dau, The Newspaper, The Restructuring, The Restructuring Process, This year, Vietnam
Posted in Business | Comments Off
January 9, 2012
 Street vendors ply their goods in downtown Ho Chi Minh City. The Asian Development Bank has lowered Vietnam’s economic growth forecast in 2012 to 6.3 percent from 6.5 percent forecast last September. With the world economy remaining mired in difficulty, the Asian Development Bank forecasts a difficult year ahead for Vietnam. However, it [...]
Tags: Accounting System, Accounting System Ndash, An Issue For, And Corporate Governance, And Finance Sector, Any Unrest, Asian, Asian Development, Asian Development Bank, banking, Banking And Finance, Banking And Finance Sector, Banking Sector, banks, based, biggest, Biggest Challenges, capacity, capital, Capital Adequacy, challenge, Challenge For The, challenges, corporate, Corporate Governance, Creating Any Unrest, credit, Credit Growth, development, Development Bank, Difficult Year, Digit Inflation, economic, Economic growth, Economic Growth Forecast, economy, enterprises, Finance Sector, financial, Financial Sector, For The Banking, forecast, Forecast Last, Forecast Last September, Global economic, Governance, Government, growth, Growth Forecast, Has Lowered, Has Lowered Vietnam, High Credit, High Credit Growth, In 2012 The, In Restructuring The, Including, inflation, investment, issue, Last September, Lowered Vietnam, management, Management And Corporate, Management And Corporate Governance, monetary, Monetary Policy, Monetary Policy And, More Specifically, Of High Credit, Of High Credit Growth, Owned enterprises, percent, policy, Prolonged Period, public, Public Investment, reducing, Reducing Inflation, reform, reforms, remains, restructuring, Restructuring The Banking, Restructuring The Banking And, Restructuring The Banking Sector, Restructuring The Economy, Risk Management, Risk Management And, Risk Management And Corporate, sector, Sector For The, Sector For The Banking, single, Single Digit, Single Digit Inflation, Small Banks, state, State bank, State owned enterprises, State-owned, Structural, system, System Ndash, The asian, The Asian Development, The Asian Development Bank, The Banking, The Banking And, The Banking And Finance, The Banking Sector, The Biggest, The Biggest Challenges, The Cost, The economy, The financial, The Financial Sector, The government, The Government Should, The Larger, The Prolonged, The Prolonged Period, The Reform, The state, The state bank, The Structural, The vietnamese, The world, The World Economy, These Reforms, Tightened Monetary, Tightened Monetary Policy, To Restructuring The, To Restructuring The Economy, Tomoyuki Kimura, Vietnam, Vietweek, What Are The, Without Creating, Without Creating Any, Without Creating Any Unrest, World Economy
Posted in Reports | Comments Off
November 14, 2011
Workers at a ship yard of the Vietnam Shipbuilding Industry Group, or Vinashin. Many in Vietnam hope the government will pursue reforms that are broad enough and deep enough to fix debt-ridden state banks and rein in inefficient state enterprises (SOEs) such as Vinashin, which embarrassingly defaulted last year. After four years of economic instability, [...]
Tags: 20 Percent, 40 Percent, action, And Deep Enough, Are Broad Enough, Are Broad Enough And, banking, Banking insurance, Banking Insurance And, Banking Insurance And Securities, banks, Banks And Rein, Broad Enough And, Broad Enough And Deep, Businesses, capital, Central, change, Change Ldquo, committee, companies, conditions, Corporate Governance, Country, Debt Ridden, Debt Ridden State, Debt Ridden State Banks, Defaulted Last, Defaulted Last Year, Doanh, Doi Moi, Doi Moi Rdquo, economic, Economic Instability, Economic Research, Economic Research Institute, economist, Economist Who Has, economy, Embarrassingly Defaulted, Embarrassingly Defaulted Last, Embarrassingly Defaulted Last Year, Enough And Deep, Enough And Deep Enough, enterprises, Enterprises Soes, Enterprises Soes Such, faith, finance, Finance Ministry, Fix Debt, Fix Debt Ridden, Fix Debt Ridden State, Foreign, Former, Government, Government Will Pursue, Government Will Pursue Reforms, group, groups, growth, Growth Model, Has Surged, Have Been Told, Have Slumped, In Inefficient State, In Inefficient State Enterprises, In Non Core, Including, Industry Group, Inefficient, Inefficient State, Inefficient State Enterprises, Inefficient State Enterprises Soes, institute, Insurance And Securities, interest, Interest Groups, investment, Last year, Ldquo, leaders, major, Major Change, Minister, ministry, model, Moi Rdquo, Nguyen, Non Core, October, Of Planning And, Of Planning And Investment, Of the economy, Of The Government, Of The Vietnam, Of The Vietnam Economic, Oil And Gas, owned, Owned Companies, Party, Party Leader, people, percent, planning, Planning And Investment, policy, Prime, Prime minister, public, Pursue Reforms, Pursue Reforms That, Pursue Reforms That Are, Rdquo, Rdquo Reform, Rdquo Wrote, Rdquo Wrote Cung, Recent, reform, reforms, Reforms That Are, Reforms That Are Broad, Report:, Research institute, restructuring, Ridden State, Ridden State Banks, Ridden State Banks And, Said ldquo, Shipbuilding Industry, Shipbuilding Industry Group, shortcomings, Soe Reform, state, State Banks, State Banks And, State Banks And Rein, State Enterprises, State Enterprises Soes, State Enterprises Soes Such, State Owned Companies, State-owned, That Are Broad, That Are Broad Enough, The central, The country, The Economist, The economy, The Finance, The Finance Ministry, The government, The Government Will, The Government Will Pursue, The ministry, The state, The State Should, The vietnam, The Vietnam Economic, The Vietnam Economic Research, The vietnamese, Three, To Fix Debt, To Fix Debt Ridden, Trong, Very Blurred, Vietnam, Vietnam Economic, Vietnam Economic Research, Vietnam Economic Research Institute, Vietnam Shipbuilding, Vietnam Shipbuilding Industry, Vietnam Shipbuilding Industry Group, Which Embarrassingly, Which Embarrassingly Defaulted, Which Embarrassingly Defaulted Last, Will Pursue Reforms, Will Pursue Reforms That, World Bank, Wrote Cung, years
Posted in Politics | Comments Off
November 13, 2011
Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking system. With bad debt exposure rising among local [...]
Tags: 2001 2005, 2001 2005 Period, 2005 Period, After The Restructuring, Bad Debt, Bad Debts, banking, Banking Reform, Banking System, bankruptcy, banks, Central, Central bank, Central Bank Has, Commercial, Commercial banks, Commercial Banks The, debts, financial, Government, Last month, Ldquo, Lenders, loans, Local, Local Banks, management, market, Mergers And Acquisitions, Nghia, Non Performing, Non Performing Loans, Of Commercial Banks, Of Commercial Banks The, percent, Performing, Performing Loans, process, ratio, Rdquo, reform, restructuring, rising, Saigon securities, Saigon Securities Inc, Saigon Securities Inc Said, Securities Inc, Securities Inc Said, small, Small Banks, state, State bank, State-owned, system, Thanh, Thanh nien, The 2001, The 2001 2005, The 2001 2005 Period, The Bad Debts, The central, The central bank, The Central Bank Has, The economy, The Goal, The government, The Ratio, The Recovery, The Restructuring, The state, The state bank, The System, The Whole, The Whole System, trillion, Vietnam, Whole, Whole System
Posted in Business | Comments Off
June 11, 2011
Sixteen former Vinashin officials and three government ministries implicated in the company’s financial debacle A ship assembled by the Vietnam Shipbuilding Industry Group (Vinashin)’s Ha Long Ship Building Company in the northern Quang Ninh Province. Three government ministries and 16 former Vinashin officials have been implicated by a team of government inspectors in the [...]
Tags: 2010 Vinashin, accused, arrested, asked, Bach Dang, Bach Dang Giang, billion, Bond Loans, Borrowed, Central, Central Government, Chairman, Chairman Pham, Chairman Pham Thanh, Chairman Pham Thanh Binh, company, contracts?, Dang Giang, debts, director, establish, failed, finance, Finance Ministry, financial, Former, Former Vinashin, Former Vinashin Officials, found, From The Central, From The Central Government, General, General director, Giant Shipbuilder, Government, Government Inspectors, Government Ministries, Government Office, group, Group Vinashin, Had Lost, industry, Industry Group, Industry Group Vinashin, inspection, Inspectors, Inspectors Said That, International, International Bond, International Bond Loans, Its Debt, Its General, Its General Director, Last July, Last week, Last Week The, Ldquo, losses, million, Minimize Losses, Minister, Ministries, ministry, Nguyen, Officials, Officials From The, payments, percent, Pham Thanh, Pham Thanh Binh, Pm Nguyen, Prime, Prime minister, Rdquo, Recent Inspection, responsible?, restructuring, Sabeco Fund, Shipbuilder, shipbuilding, Shipbuilding Industry, Shipbuilding Industry Group, Shipbuilding Industry Group Vinashin, Thanh, Thanh Binh, That Have Been, That The Finance, That The Finance Ministry, That The Government, That The Government Has, The Bach, The Bach Dang, The Bach Dang Giang, The central, The Central Government, The company, The Finance, The Finance Ministry, The firm, The Giant, The Giant Shipbuilder, The government, The Government Has, The group, The Inspection, The Inspectors, The ministry, The prime, The prime minister, The Recent, The Recent Inspection, The Shipbuilder, The vietnam, The Vietnam Shipbuilding, The Vietnam Shipbuilding Industry, This year, Three, Three Government, Three Government Ministries, To Ensure That, trillion, Vietnam, Vietnam Shipbuilding, Vietnam Shipbuilding Industry, Vietnam Shipbuilding Industry Group, Vinashin, Vinashin And Its, Vinashin Officials, Year Inspectors
Posted in Reports | Comments Off
January 30, 2011
State-owned shipbuilder Vinashin, which was on on the verge of bankruptcy last year, has made initial achievements in its restructuring process, a conference in Hanoi heard Thursday. The shipping group achieved a turnover of over VND10.3 trillion (US$529 million) last year, with exports of $278 million, the steering committee on restructuring told the conference. The restructuring of Vinashin, which had [...]
Tags: committee, group, Last year, Of The Committee, restructuring, The Committee, The Committee Said, The group, Vinashin
Posted in Business | Comments Off
January 4, 2010
Top priority should be given to adopting a stable and sound policy so that businesses can borrow capital at safe interest rates without causing inflation, says economic expert Bui Kien Thanh. According to the National Assembly (NA) Committee for Economic Affairs, the Vietnamese economy has essentially overcome the most difficult period while the Government remains [...]
Tags: Also Part, banks, Banks Operations, based, billion, Business, Businesses, capital, Commercial banks, credit, develop, development, domestic, Domestic Currency, Domestic Market, economic, Economic Restructuring, economy, Equity Capital, For The Vietnamese, For The Vietnamese Economy, In Equity Capital, investment, Is Also Part, loans, market, Mr Thanh, Mr Thanh Says, National, National Economy, Of The Scenario, percent, policies, products, projects, reducing, restructuring, rural, Rural development, scenario, Scenario For The, Scenario For The Vietnamese, supply, Thanh, Thanh Says, The domestic, The Domestic Market, The national, The National Economy, The Sbv, The Scenario, The Trade, The Trade Deficit, The vietnamese, The Vietnamese Economy, Trade deficit, Vietnam, Vietnamese, Vietnamese Economy
Posted in Business, News | Comments Off
January 3, 2010
A view of Le Loi Street in downtown HCMCStanding by her pushcart hawking cassava cakes on Ho Chi Minh Cityâs Bui Thi Xuan Street, Anh laughs when she hears she is in the World Bankâs âmiddle incomeâ bracket.She earns more than VND30 million (US$1,630) a year against Vietnamâs 2008 per capita income of about $1,000, [...]
Tags: Also Needs, Authorities, Avoid The Middle, Avoid The Middle Income, based, Concerned About The, countries, Country, create, Create Internal, Create Internal Value, development, economic, Economic Restructuring, Economic Restructuring Plan, efficiency, Foreign Guidance, Good Policies, Government, growth, Has Managed, High Income, human, Human resources, improve, Improve Human, In The World, Income Country, Income Status, Income Trap, income:, industrialization, industries, Internal, Internal Value, Into New, Korea, Last month, Middle, Middle Income, Middle Income Country, Middle Income Status, Middle Income Trap, million, needs, people, Pincus, policies, policy, Policy Making, Prime minister, quality, restructuring, Restructuring Plan, Said Vietnam, skills, Slow Response, South, South korea, stage, Stage Three, status, technology, The country, The global, The government, The Government Has, The Middle, The Middle Income, The Middle Income Trap, The world, The World Bank, Under Foreign, Under Foreign Guidance, value, Vietnam, world, World Bank
Posted in News | Comments Off
December 16, 2009
The Abu Dhabi government has agreed to fund 10 billion U.S. dollars to Dubai to meet upcoming obligations on the state-owned conglomerate Dubai World. Investors look at stock exchange information at the Dubai Financial Market December 14, 2009. Abu Dhabi stepped in to help fellow United Arab Emirates member Dubai with a $10 billion (6.1 [...]
Tags: 10 Billion, Abu Dhabi, Ahmad, announced, Arab Emirates, billion, Billion dollars, Central bank, creditors, Dhabi, dollars, Dubai, Dubai Financial, Dubai Government, Dubai World, financial, global, Global Financial, Government, He Said The, Internationally Accepted, market, Market Principles, Obligations, Of Dubai World, restructuring, Sheikh, Sheikh Ahmad, The Dubai, The Dubai Financial, The Dubai Government, The government, The Official, Trade Creditors, United Arab, United Arab Emirates, world
Posted in International, News | Comments Off
