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Tag Archive for ‘Loan’

Warnings over previous Made in Vietnam car failure

Director of Xuan Kien Automobile Joint Stock Company (Vinaxuki) Bui Ngoc Huyen claims the failure of Made in Vietnam cars was particularly due to capital difficulties. Huyen said that he carried out research on Made in Vietnam car production and they had been highly appreciated by the National Council for Science and Technology Policy. After […]

Engineer recalls bitter story of pioneering Vietnamese carmaker

As hope that Vietnam would finally produce cars domestically was renewed after construction of a new car factory began last week, one of the first local engineers who attempted to realize the dream has recalled how he failed as a pioneer. Now past his 70s, Bui Ngoc Huyen currently lives in his shutdown car factory […]

Vietnam planning to crank up Russian-subsidized nuclear study center by 2025

The US$500 million project has been revealed less than a year after the country scrapped plans for two nuclear power plants due to economic reasons. Vietnam is planning to develop a nuclear science and technology center using a US$500 million loan from Russia over the next seven years. Tran Chi Thanh, director of the Vietnam […]

Vietnam PM launches construction for Vingroup’s automobile manufacturing complex

Prime Minister Nguyen Xuan Phuc made an order to launch construction of VINFAST – an automobile manufacturing complex invested by Vietnam’s largest real-estate company Vingroup, in the northern port city of Hai Phong on September 2. Speaking at the ceremony, PM Phuc said that this is one of many significant events to celebrate on the […]

Work starts on first Vietnamese automobile manufacturing complex

Prime Minister Nguyen Xuan Phuc attended a ceremony in the northern port city of Hai Phong on September 2 to start the construction of the first Vietnamese automobile manufacturing complex in Dinh Vu – Cat Hai economic zone. Invested by Vinfast manufacturing and trade Ltd company – an affiliate of real estate developer Vingroup, the […]

Over 600 enterprises to attend Da Nang Investment Forum 2017

Over 600 representatives from domestic and foreign enterprises as well as associations will participate in the 2017 Da Nang Investment Forum from September 29 to October 1. The international event aims to promote the potential and opportunities of Da Nang as well as the promotion of policies supporting domestic and foreign enterprises. The official conference […]

Vietnam Aims to Cut Bad Debt Ratio to 3-4% by End-2015: PM

Vietnam will strive to curb bad debts of the banking industry at around 3-4% of total lending by the end of 2015, Prime Minister Nguyen Tan Dung told the country’s lawmakers early today [Nov 14]. Non-performing loans are estimated to have totaled VND250 trillion or 8.82% of total lending currently, 73% of which are backed by collaterals. Credit institutions have set aside VND75 trillion in loan loss provisions. The government is currently directing the implementation of the following measures. (1)…

Vietnam Banks Poised To Lend More As Year-End Approaches

HCM CITY (VNS) — Commercial banks in HCM City are preparing large volumes of capital to meet the demand for loans in the last few months of the year. To attract customers, the banks are offering flexible lending policies and low interest rates. Nguyen Hoang Minh, deputy director of the State Bank of Viet Nam’s branch in HCM City, said that in the first 10 months of the year, banks had a credit growth rate of only 2.2 per cent from the end of 2011. Credit growth rate is expected to reach 5 – 6 per…

Vietnam Ministry In Talks For Foreign Loans

The Ministry of Finance is now in talks with foreign creditors over 22 credit agreements, and the amount having been tentatively approved in such loan agreements has reached some US$2.6 billion as of now, the ministry said. In a press statement on Monday, the ministry said that the loans are to replenish capital sources used […]

Vietnam cbank says 8.82 pct of loans are bad, pledges action

(Reuters) – Non-performing loans in Vietnam’s banking system reached 8.82 percent of total lending at the end of September and are difficult to deal with, the country’s central bank governor said on Tuesday. Nguyen Van Binh also told the parliament that non-performing loans rose 66 percent in the first 10 months this year, though he did not say whether that increase was from the same period of 2011 or from another timeframe. In televised remarks, Binh said that non-performing loans increased 64 percent in 2011 and 41 percent in 2010. Vietnam has one of the highest levels of non…