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Tag Archive for ‘Funds’

Vietnam Farming Insurance To Test Run Until 2014

The pilot deployment of agriculture insurance will be extended until late June next year and the Government will study, amend and issue more suitable documents for the program, Deputy Prime Minister Nguyen Xuan Phuc said. Speaking at the National Assembly sitting on Monday, Phuc said that after over a year carrying out the trial application […]

Vietnam’s beverage sector draws investors

Despite the economic slump that is forcing consumers to cut spending, local and foreign investors believe that the food and beverage industry in Vietnam continues to remain attractive. Seeing that demand and growth in this field is huge, manufacturers have been promoting their investments to win more market share. Recently, Coca Cola announced that it will pump in more investments of upto US$300 million, starting next year. This investment will be used to improve operations of its three factories in Hanoi, Da Nang and Ho Chi Minh City. In addition, Coca Cola Beverages Vietnam Ltd also signed an agreement with…

Infrastructure Projects In Vietnam Remain Inaccessible To Private Investors

Private investors can all see great potentials in infrastructure projects. However, a lot of things still need to be done to turn the potentials into reality. Le Quoc Binh, General Director of the HCM City Infrastructure Investment Joint Stock Company (CII), when asked about the opportunities in infrastructure projects, said there are numerous projects, but […]

Vietnamese officials to be punished for embezzlement

SOC TRANG (VNS)– Two officials of Cu Lao Dung District’s An Thanh Dong Commune will be punished for misappropriating tens of millions of dong from national programmes, says the district people’s committee chairman Le Van Hieu. District investigators discovered the misdeeds of commune party cell secretary Vo Hoang Long and people’s committee chairman Nguyen Cong Trang after residents denounced them for embezzlement. According to people in An Thanh Dong Commune, the commune authorities extracted VND240 million ($11,000) from a national programme to help poor households buy sugarcane seedlings and breeding animals. Long and…

Vietnam National Assembly questions Cabinet Members

The National Assembly began question and answer sessions on the Government’s performance on November 12 presided by Chairman Nguyen Sinh Hung. Minister of Industry and Trade, Vu Huy Hoang, was the first to appear at the session. He was questioned by 23 deputies from 19 cities, and provinces. On measures to ease difficulties for businesses – particularly unsold inventories, t he minister confirmed that inventories are an urgent matter to be addressed. The situation has progressed thanks to the joint efforts of the business community and the Ministry’s supervision, he noted. An example from the mechanical and engineering industry was cited – the inventory index…

Obama to meet labor, business leaders for fiscal talks

President Barack Obama will meet business, labor and civic leaders this week ahead of negotiations with top lawmakers to avert sharp tax hikes and deep spending cuts that loom at the end of the year, a White House official said late on Sunday. The president wants to find “a balanced solution to our deficit challenges” and a way to move the economy forward, the official said. Obama, re-elected to a second four-year term on Tuesday, faces the immediate challenge of preventing the so-called “fiscal cliff,” a combination of government spending…

Need to urgently establish asset management company under SBV to tackle Vietnam’s bad debts

When bad debt threatens the safety of the banking system and the stability of the macro economy, the bad debt settlement needs to have the intervention of the government, even using the state budget or internal or external loans. Seeing that bad debt of banking industry is caused by various reasons and that it reflects […]

Shareholders Seek Alignment Of Interests And Stronger Governance At Vinaland Ltd

A large group of significant shareholders of VinaLand Limited, led by Composition Capital Partners, are objecting to the forthcoming proposal for ‘Reorganization’ by the Board of VinaLand, who are seeking approval in a vote planned at an extraordinary general meeting of shareholders to be held in Zurich on 21St November 2012. Composition Capital is a […]

Ethnic migrants seek a better life

HA NOI (VNS)— The spontaneous migration of ethic groups indigenous to the mountainous area in the northern part of Viet Nam down to the Central Highlands was on the upward trend and induced a number of social issues. How to control their movements and address the ramifications were among the topics discussed at an online conference held by the Government Web Portal and Viet Nam Television in the Central Highlands province of Kon Tum yesterday. The population of the Central Highlands is 5.3 million people from 47 ethic groups, a remarkable development from the 1976 census that…

Six economic sectors in Vietnam make up nearly 100tr dong of bad debts

The bad debt situation with the structure according to credit institutions and economic sectors has been answered by the State Bank of Vietnam (SBV)’s governor, Nguyen Van Binh, at the National Assembly’s meeting recently. At the meeting, the governor said that as of June 30, 2012, the bad debts as reported by credit institutions were […]