In the first quarter HCM City signed off on co-operation deals with southern and Mekong provinces to enable its businesses to invest in projects and create supply chains in those places.
Analysts split on interest rate cap
Many HCM City banks want the central bank to abolish the interest cap for deposits of up to six months, considering it a "hurdle" to their deposit mobilisation efforts.
The State Bank of Viet Nam has lowered the interest rate on short-term deposits (one to six months) from 7 per cent to 6 per cent annually, a move that would normally result in lower rates for loans from commercial banks. But banks are still concerned about customers' deposit needs and question whether they will apply for business loans.
When cash climbs aboard a merry-go-round
Last week the State Bank of Viet Nam decided to lower the the interest rate cap on bank deposits of up to six months by 1 percentage point to 6 per cent in an effort to boost credit growth and pump prime the economy.
Dong Nai to resettle airport-displaced families
The provincial authorities of Dong Nai have begun resettlement plans for residents affected by the project to built an international airport in the province's Long Thanh District, which is scheduled for completion in 2020.
Farmers in the Mekong Delta are unhappy to see vast ar-eas of land left uncultivated after they were zoned for industrial parks.
Eximbank has decided to lower its one-month deposit interest rate to 6.5 per cent, and on two and three months to 6.6 and 6.8 per cent respectively.
Soon after the Lunar New Year the governor of the State Bank of Viet Nam said the central bank would continue to tell banks to further cut interest rates on loans to businesses by 1-2 per cent.
Remittances pour in from overseas
Remittances from overseas Vietnamese channeled through HCM City banks rose to a four-year high of US$4.85 billion last year, far more than the target set last year by the Central Bank's HCM City branch.
Despite the slight volatility in the foreign exchange market in recent days, analysts believe that exchange rates will remain stable in the new year.
Vietnam Airlines, which has announced a pre-tax profit of VND533 billion (US$25.3 million) for 2013, said it would cut fares since it is faced with tough competition.

Highlight

Mekong summit calls for greater riparian co-operation Mekong summit calls for greater riparian co-operation

Mekong River riparian countries have improved co-operation since the first Mekong River Commission (MRC) summit held in Thailand four years ago, a senior Vietnamese official has said.

Viet Nam attempts to hold back deadly measles strain Viet Nam attempts to hold back deadly measles strain

The head of Viet Nam's General Department of Preventive Medicine, Tran Dac Phu, announced on Tuesday that the department would work to contain the outbreak of measles over the coming months.

Da Nang plans a greener future Da Nang plans a greener future

The central city of Da Nang will have a face-lift as it becomes a green city following the Prime Minister's decision on the city's adjusted master urban plan for 2030 and 2050.

Delta households face water shortage Delta households face water shortage

More than 377,000 people in the Cuu Long (Mekong) Delta face a fresh water shortage because of saline water intrusion in the area, according to the National Centre for Rural Clean Water Supply and Environmental Sanitation.

Ha Noi to host National Shooting Cup 1    Ha Noi to host National Shooting Cup

The National Shooting Cup is scheduled to take place in the Ha Noi-based National Sports Training Centre from April 16 to 24.