Vietnam Breaking News
Economy
Dollar prices equal on official and black markets
As anticipated, the dollar has become scarcer towards the end of the year. Now the dollar prices at which commercial banks sell to businesses have become nearly the same as the prices on the black market. A lot of businesses complain that they cannot buy dollars at this moment because the supply has become so [...]
Some lenders lower lending interest rates on VNBA’s request
Some local banks started to trim down the lending interest rates for the dong as a result of the Vietnam Banks’ Association (VNBA)’s request for banks’ consensus on rate cut, the local newswire Dan Tri reported October 14. Some local banks started to trim down the lending interest rates for the dong as a result [...]
Vietnam trade deficit forecast high at $14B this year
Vietnam is predicted to incur a huge trade deficit of $14 billion in 2010, compared to last year’s figure of $12.246 billion announced by the General Statistics Office, a senior economist said. Though the ratio of trade deficit to the country’s total export value fell to 16.7% in the first nine months of this year [...]
Vietnam’s shipments to US to face more barriers
Numerous trade barriers will likely go up stateside, choking off the flow off goods into the Northern American market, especially from ‘non-market economies’ like Vietnam, a practitioner said in Hanoi on Wednesday. William Barriger, a legal counsellor working alongside the Vietnam Chamber of Commerce and Industry (VCCI) since 2003 over the antidumping tax imposed on [...]
Hanoi makes good use of Japan ODA
Hanoi has made very good use of Japan’s official development assistance (ODA) in its socio-economic development, said Tsuno Motonori, chief representative of the Japan International Cooperation Agency (JICA) office in Vietnam. Mr. Motonori made the statement while visiting some projects funded by Japan’s ODA in the capital on September 30. He said since Japan resumed [...]
$3.5bn ODA capital to be disbursed in 2010
The Ministry of Planning and Investment (MPI) recently forecast around $3.5 billion worth of ODA capital would be disbursed in 2010. The forecast was based on ODA disbursement situation in the first nine months of 2010 and the fresh procurement of big budgetary credit packages. MPI statistics show that $2.209 billion worth of ODA capital [...]
Vietnam disburses $2Bln ODA in Jan-Sept
Vietnam is estimated to have disbursed $1.92 billion funds provided in forms of the official development assistance (ODA), accounting for 79% of the whole year plan and increasing 11% on year. It should be noted that the ODA re-lending reached VND6,000 billion, accounting for 60% of the whole year plan. The total ODA capital registered [...]
PetroVietnam loaned $1 billion for refinery
The Finance Ministry instructed the Viet Nam Development Bank (VDB) to lend Viet Nam National Oil and Gas Group (PetroVietnam)US$1 billion for the Dung Quat Oil Refinery Plant No1 late yesterday. Of the money, $700 million will be drawn from Viet Nam’s second sovereign bond and the remainder from BNP Paribas Bank. The second bond [...]
Germany pledges EUR1B ODA for Vietnam so far
Germany has pledged a total EUR1 billion in official development assistance (ODA) for development projects in Vietnam since 1990. The information was released at Vietnamese Prime Minister Nguyen Tan Dung’s reception to Germany’s Mecklenburg-Vorpommern Governor Erwin Sellering in Hanoi on Sept 14. Dung said that Vietnamese government will give more favorable conditions to German firms [...]
Vietnam Jan-Aug exports to Brazil more than double to $296 million
Vietnam’s exports to Brazil in the first eight months of this year more than doubled from a year earlier to $296 million, the Ministry of Industry and Trade said Tuesday. HANOI -(Dow Jones)- Vietnam’s exports to Brazil in the first eight months of this year more than doubled from a year earlier to $296 million, [...]
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