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 [...]
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January 11, 2012
 A man works at a steel factory in Que Vo District, outside Hanoi . Many companies in Vietnam are facing higher operation costs and lower profits. An annual report that ranks Vietnam’s 500 largest companies based on revenues, profit, growth rate, assets, and number of employees shows that returns are declining for private companies. [...]
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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 [...]
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December 25, 2011
After years of sky-rocketing credit growth to finance development, Vietnam’s banking system is now weighed down by toxic loans that have forced the communist nation to launch tough reforms. The Southeast Asian country’s financial sector consists of about a hundred banks — either state-owned, private or foreign bank branches. But most have only limited [...]
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December 14, 2011
Vietnam's inflation is expected to slow to about 9 percent in 2012 and is under control, Prime Minister Nguyen Tan Dung told the Consultative Group. Vietnam may undermine progress toward economic stability if it loosens monetary policy now, the International Monetary Fund and World Bank said as the nation struggles with the fastest inflation in [...]
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December 9, 2011
A branch of First Commercial Joint-Stock Bank in Hanoi. The bank and two other Vietnamese banks plan to merge to bolster their liquidity. Three Vietnamese banks plan to merge to bolster their liquidity and cut costs as a single entity, the country’s central bank said. First Commercial Joint-Stock Bank, Tin Nghia Commercial Joint-Stock Bank and [...]
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December 9, 2011
There are many factors responsible for this, but the key reasons are: poor infrastructure, poor tourism promotion; and weak cooperation between travel agents and service providers. These combine to make tour prices in Vietnam less competitive than those in other countries, Nguyen Cong Hoan, vice director of travel agent Hanoi Redtour, told Thanh Nien [...]
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December 3, 2011
Real estate has regained the top spot as the most attractive sector for private equity investment, Grant Thornton says. Private equity investors’ optimism in the Vietnamese economy has dropped sharply as they continue to worry about inflation, high interest rates and a slowdown in domestic growth, according to Grant Thornton. Negative sentiment toward the economy [...]
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November 26, 2011
A worker assembles a new Piaggio at a factory inside the Binh Xuyen Industrial Park in Vinh Phuc Province. Italian group Piaggio inaugurated the vespa factory in 2009. Italy, besides improving cultural cooperation with Vietnam, is seeking ways to boost economic ties with the country. Italian companies are interested in sectors like leather, footwear, [...]
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October 27, 2011
A worker checks pipes and valves at Amaal oil field in eastern Libya October 7, 2011. Abdula Altako was killed in March guarding the oil field he worked for, one of the first but by no means the last of Libya’s oil workers to die defending the country’s lifeblood. Abandoned by their foreign owners during [...]
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