Posts Tagged ‘ state ’

Vietnam orders state companies to submit restructuring plans 

January 25, 2012
Vietnam orders state companies to submit restructuring plans 

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 [...]

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Vietnam banks to restrain credit growth amid bad debt worries 

January 20, 2012
Vietnam banks to restrain credit growth amid bad debt worries 

Many banks in Vietnam fear that bad debts could rise this year. Many banks in Vietnam say dealing with bad debts rather than credit growth is going to be a priority task for 2012. According to the Dau Tu (Investment) newspaper, even large banks in the country fear that bad debts could rise this year. State-owned Bank [...]

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PetroVietnam quits Hanoi skyscraper project under divestment plan 

January 18, 2012
PetroVietnam quits Hanoi skyscraper project under divestment plan 

An artist's impression of the PVN Tower State oil and gas group PetroVietnam said it has withdrawn from a skyscaper project in Hanoi as part of its plan to divest from sectors outside its main business scope. PetroVietnam will no longer invest in the 102-story PVN Tower, slated to become the tallest skyscraper in Vietnam, [...]

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Iran sends rare letter to US over killed scientist 

January 15, 2012
Iran sends rare letter to US over killed scientist 

Iran's President Mahmoud Ahmadinejad speaks with journalists at Tehran's Mehrabad airport after his visit to Latin American countries January 14, 2012. Iran said on Saturday it had evidence Washington was behind the latest killing of one of its nuclear scientists, state television reported, at a time when tensions over the country’s nuclear program have escalated [...]

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No pardon granted to Hanoi man who beheaded ex-girlfriend 

January 13, 2012
No pardon granted to Hanoi man who beheaded ex-girlfriend 

Nguyen Duc Nghia State President Truong Tan Sang has denied clemency for a man who was sentenced to death in Hanoi last November for beheading and robbing his ex-girlfriend in a headline-grabbing case. Nguyen Duc Nghia, 28, on November 15, 2011, sent a letter to the State President seeking a pardon, but the appeal was [...]

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Vietnam banking sector set for surge in M&A activity this year 

January 11, 2012
Vietnam banking sector set for surge in M&A activity this year 

  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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Vietnam private sector squeezed by rising costs 

January 11, 2012
Vietnam private sector squeezed by rising costs 

   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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Single-digit inflation target feasible, says ADB exec 

January 9, 2012
Single-digit inflation target feasible, says ADB exec 

    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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Vietnam PM admits interest groups sway policymaking 

January 9, 2012
Vietnam PM admits interest groups sway policymaking 

  A man (L) stands in front of an ATM while a homeless man sleeps in front of an advertisement on a street in Hanoi January 3. Prime Minister Nguyen Tan Dung has acknowledged the surging influence interest groups have on the policymaking process, calling for increased transparency to tackle the issue. Prime Minister Nguyen [...]

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Vietnam to implement ‘tight’ fiscal, monetary policy in 2012 

January 8, 2012
Vietnam to implement ‘tight’ fiscal, monetary policy in 2012 

  Vietnam will have tight fiscal and monetary policies to fight inflation this year, while advancing a restructuring plan to enhance the efficiency and competitiveness of the economy, the government said. The country will use a “tight, cautious, flexible” monetary policy and “tight, effective” fiscal measures in 2012, according to a resolution posted late yesterday [...]

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Feature

Vietnam, Cuba foreign ministries to bolster ties

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Vietnam’s top diplomat has affirmed that the Foreign Ministry will closely cooperate with its Cuban counterpart to implement the agreements reached by the two...