Business Beat - Vietnam News | Politics, Business, Economy, Society, Life, Sports

Crypto market poised to explode as the Government inches closer to legalise digital asset exchange

Gov’t OKs three special economic zones

The Government has approved a plan to build three special economic zones (SEZs) to spearhead the country’s growth and exploit local advantages to impel growth there.

Mismanagement harms equitised firms

One of the most important purposes of the equitisation of State-owned enterprises is to improve their management, and thus their performance.

SBV warns banks against lending to property sector

Recently the State Bank of Việt Nam told credit institutions to restrict loans to real estate projects to reduce risks and credit concentration in a single sector.

Provinces, cities issue municipal bonds for funding needs

On August 26 the southern province of Bà Rịa-Vũng Tàu issued for the first time municipal bonds worth VNĐ500 billion (US$4.44 million) to raise capital for infrastructure projects. The money will be used for building the Phước Hòa-Cái Mép Road, the Hồ Sông Ray inland canal system, and the Vũng Tàu Polyclinic.

Embattled securities firms find no suitors

For Sacombank Securities Company (SBS), merging with another brokerage is a fait accompli: its accumulated losses exceed its capital.

Banks try loan rate cuts but seek Gov't help

Over a month after the State Bank of Việt Nam called on banks to cut interest rates on loans, particularly to businesses, some banks - including joint stock lenders - have reduced their rates by 0.5-1 per cent.

Edible oil producers import tax cut looms

On May 10 the Việt Nam Competition Authority warned that the import tax on crude and refined edible oils, reduced from 3 per cent this month to 2 per cent, would be scrapped altogether in May 2017.

Banks cut lending interest rates on gov’t advice

Last week several banks cut their lending interest rates on the recommendation of the State Bank of Việt Nam.

What next for Big C after Thai takeover?

Thailand’s Central Group and its local partner Nguyễn Kim Trading Company have finally won the fierce battle for ownership of Big C Vietnam after offering 920 million euros (US$1.05 billion) to France’s Casino Group.

Property sector urged to seek other capital sources

With lending to the property sector almost surely to be tightened, analysts are calling on real estate firms to securitise their projects and list their shares on the stock markets to raise money from the public.

Banks set bar low for 2016 profits

Despite solid results last year, VPBank announced a modest profit target for this year at its recent annual general meeting.

Protective import tax sends steel prices soaring

A spokesperson for Sông Đà No.2 Joint Stock Company called up a magazine to grumble that steel prices have skyrocketed, pushing up costs for his company by billions of đồng since the prices started to rise.

Local banks ploughing money into aviation sector

The Việt Nam Technological and Commercial Joint Stock Bank (Techcombank) will pick up a 49 per cent stake in VASCO after committing to inject VNĐ147 billion into the restructured carrier.