Foreigners snap up cheap stocks

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Báo Đầu Tư English 88 month(s) ago

Foreigners snap up cheap stocks

Foreign investors are snapping up bargain-priced shares abandoned by local investors, triggering new optimism in the somnolent Vietnamese bourse.

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Ministry sets EPZs straight on tariffs

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Báo Đầu Tư English 88 month(s) ago

Ministry sets EPZs straight on tariffs

The Ministry of Finance is likely to refuse to apply newly reduced common effective preferential tariffs to export processing zones, despite heavy lobbying from zone firms.

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State Bank set to open facts vault

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Báo Đầu Tư English 88 month(s) ago

Banking credit information will be more widely available from next January, as the State Bank moves to reduce company credit risk and protect banks.

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Local companies cry foul over VAT

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Báo Đầu Tư English 88 month(s) ago

Vietnamese companies have expressed rage over the draft guidelines on the value added tax (VAT) on services and commodities for export.

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Local fund looking to local cash

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Báo Đầu Tư English 88 month(s) ago

Local fund looking to local cash

THE managers of the country’s first joint-venture-managed investment fund are trying to raise capital from local investors to launch the fund in the first quarter next year.

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MoF aims high for state budget

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Báo Đầu Tư English 88 month(s) ago

MoF aims high for state budget

The government set an ambitious target to increase state budget revenue by at least 20 per cent next year at an annual meeting of government agencies to review state finances last week.

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Hair-raising gold, dollar trading returns to normal

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Báo Đầu Tư English 88 month(s) ago

THE gold and US dollar markets have returned to normal after the vertiginous rise of two weeks ago and a central bank official has promised continuing stability.Nguyen Dong Tien, head of the State Bank’s Monetary Policy department, assured Vietnam Investment Review that gold and dollar prices would remain stable, until at least after the lunar new year [end of January].

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Local banks to team up on cards

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Báo Đầu Tư English 88 month(s) ago 1 related news

Local banks to team up on cards

DOMESTIC banks are joining forces in a bid to establish a non-cash payment system which is expected to boom over the next five years, a State Bank official has said.The official was speaking after the recent launch of a joint card service between the Technological and Commercial Bank (Techcombank) and the Bank of Foreign Trade (Vietcombank).

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Foreign banks banking on reforms

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Báo Đầu Tư English 88 month(s) ago

Foreign banks banking on reforms

In December each year, the central bank hosts an end-of-year meeting with the foreign banking community in Vietnam. However, despite the upbeat meeting some foreign banks and credit institutions will look back on 2003 with mixed feelings. Thuy Dung reports.

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State banks shackled by non-performing loans

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Báo Đầu Tư English 88 month(s) ago

State banks shackled by non-performing loans

WHILE the government has long put the improvement of credit quality at the very centre of its financial and banking reform programme, little progress was made last year.

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MSB modernised and faster

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Báo Đầu Tư English 88 month(s) ago

MSB modernised and faster

THE Vietnam Maritime Commercial Stock Bank has launched a modern payment system whereby all branches nationwide will provide, real time payments.

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Firms clean on VAT reimbursements

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Báo Đầu Tư English 88 month(s) ago

No violations of value-added tax reimbursement were found last year, a huge achievement considering it was estimated that state budget losses from false reimbursements would reach $20.6 million, based on previous years’ averages.

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State development fund to mobilise $1.5bn for loans

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Báo Đầu Tư English 88 month(s) ago

THE state-run Development Assistance Fund has been assigned by the government to provide short-term loans of up to $323 million to exporters, and long- and medium-term loans of $865 million to development investment projects this year.

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State Bank backs bonds to fund works worksprojects

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Báo Đầu Tư English 88 month(s) ago

CAPITAL for public projects fetching low returns should be sourced from government bonds and not banks, the State Bank of Vietnam has told the government.

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Irish fund to inject capital into bourse

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Báo Đầu Tư English 88 month(s) ago

Irish-listed Phanxipang Vietnam Fund (PXP) has drawn up plans to invest in Vietnam’s emerging stock market via PXP Asset Management, its fund management arm in Vietnam.“We received the licence to open a representative office in Ho Chi Minh City last month and are now looking for investment opportunities,” said Kevin Snowball, director of PXP Asset anagement.

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