SBV should offer failing banks to foreign investors

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Báo Đầu Tư English 6 day(s) ago

The vigorous restructuring of “zero VND” banks whose capital is believed to have fallen far below the minimum requirement of VND3 trillion ($140.6 million) is the main goal of the banking system this year. Dr Tran Du Lich, a financial and economic specialist, told VIR’s Thuy Vinh that buying out “zero VND” banks is only a temporary solution. It is time for the State Bank of Vietnam (SBV) to stop interfering with the restructuring of “zero VND” banks.

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VAMC asks for five-fold increase in charter capital

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Báo Đầu Tư English 6 day(s) ago

The Viet Nam Asset Management Company (VAMC) has proposed to raise its current charter capital from VND2 trillion (US$87.6 million) to VND10 trillion by 2020.

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Vietnam gov’t to stop paying debts of state-owned companies

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Báo Tuổi Trẻ English 7 day(s) ago

Vietnam’s government will no longer shoulder the debt burden of state-owned enterprises, Minister of Finance Dinh Tien Dung told lawmakers as the country revises its law on public debts.

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Public debt growth due to missed GDP target: minister

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Báo Dân Trí English 1 week(s) ago

The main reason for the rapid rise of Vietnam’s public debt is failure to achieve the targeted economic growth rate and the resulting tax collection shortfall, Finance Minister Đinh Tiến Dũng said.

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NASC mulls draft law on public debt management

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Báo điện tử CP English 1 week(s) ago 3 related news

VGP – The National Assembly Standing Committee (NASC) debated the draft law on public debt management (amended) on March 20 in Ha Noi.

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Challenges ahead for King of pangasius

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Báo Đầu Tư English 1 week(s) ago

The future looks challenging for Hung Vuong Joint Stock Company (HoSE: HVG), dubbed “the King of Pangasius,” after the audit of the company’s financial reports showed a big discrepancy between the audited and self-reported profit, revenue, and liabilities.

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Banks report satisfactory profits, increased bad debts

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Báo Đầu Tư English 2 week(s) ago

Banks’ finance reports in 2016 show good news and bad news. Most of them had profits higher than the year before, but the number of non-performing loans increased.

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Vincom suits Platinum Cineplex

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Báo Đầu Tư English 2 week(s) ago

Vincom Retail Joint Stock Company (VCR) has filed a lawsuit against the M.V.P Group, owner of Platinum Cineplex, after the Indonesian entertainment conglomerate claimed that the closure of its cinemas at three Vincom trading centres early March is illegal.

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Foreign feed producer oligopoly destroys livelihood of shrimp farmers

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Báo Đầu Tư English 3 week(s) ago

Exorbitant feeding costs account for two thirds of production expenses. Farmers’ incomes are merely enough to pay debts.

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SBV announces compulsory M&A for weak banks

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

The State Bank of Vietnam (SBV) currently encourages mergers and acquisitions (M&A) for weak credit institutions based on voluntary spirit and the assurance of relevant rights for both parties. However, this will turn into a compulsory activity if these institutions do not volunteer.

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Foreign owners of indebted steel firm flee Vietnam

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Báo Tuổi Trẻ English 1 month(s) ago

The owners of a foreign direct investment (FDI) steel firm in southern Vietnam have fled the country after incurring insurmountable debts totaling VND100 billion (US$4.46 million).

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VN issues restructuring action programme

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SaiGon GP English 1 month(s) ago

The Government has issued an action programme to implement the policies on economic restructuring and building of a new growth model for the period between 2016 and 2020.

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SBV removes father and son board members at Sacombank

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

The State Bank of Viet Nam yesterday terminated Tram Be’s and Tram Khai Hoa’s membership in the management board at Sai Gon Thuong Tin Joint Stock Commercial Bank (Sacombank).

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Action program seeks to improve growth quality and competitiveness

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Báo điện tử CP English 1 month(s) ago

VGP – The government has issue an action program to implement the 12th Party Central Committee’s Resolution No. 05-NQ/TW dated November 1, 2016 on a number of guidelines and policies in order to continue innovating the model of growth and enhancing the quality of growth, labor productivity and the competitiveness of the economy and the National Assembly’s Resolution No. 24/2016/QH14 dated November 8, 2016 on the economic restructuring plan in 2016-2020.

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IMF warns against pretending 'unpayable debts' can be paid

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Báo Đầu Tư English 1 month(s) ago

WASHINGTON: In a not so subtle jab at European officials and their dealings with Greece, the IMF on Thursday (Feb 23) issued a warning against pretending that "unpayable debts" can be repaid.

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