Business

Central bank to slash USD interest rate, raise confidence on VND
21/06/2013 07:50
Bankers applaud dollar interest rate reductions The current ceiling dollar deposit interest rate applied to individual depositors is 2 percent per annum, while the ceiling rate applied to institutional depositors is 0.5 percent only. Meanwhile, the dong deposit interest rates now...
Over 90 projects on Phu Quoc Island cancelled
21/06/2013 07:43
Kien Giang Province authorities say that they have cancelled 93 projects on Phu Quoc Island, with a total area of 5,500 ha. These projects are stopped because the investors could not find funding, were weak at financial capacity, were unable to implement the projects, carried out the...
Retail giants target Vietnam
19/06/2013 04:50
According to the Institute of Information and Business Research (IIB), the retail industry in the country, which has a population of 88 million, holds huge potential despite local consumers tightened their spending in recent years due to the economic downturn. The turnover from retail...
VAFI: Two credit rating agencies suffice for VN
18/06/2013 03:57
This was stated by VAFI in a document sent to the Ministry of Finance (MoF) to comment on the ministry's draft regulation for the establishment and operation of credit rating agencies. The association said international practice showed a country should not have a lot of CRAs, which would...
Coffee exporters follow each others’ steps falling into decay
15/06/2013 04:02
Truong Ngan, a famous name in the coffee industry, one of the top 20 Vietnamese coffee exporters, has been encircled by debts. Seven big banks have been chasing for the company, asking to pay debts. The movement of the coffee processors and exporters falling into insolvency began in late...
Credit rating agency is in the cards: MoF
10/06/2013 09:31
The Ministry of Finance has proposed to establish the country's first credit rating agency to increase corporate bond market and assist businesses in mobilising capital for their business and production. Under the proposal approved by the Ministry of Finance (MoF), the agency's...
Fast food empires gear up for their plans to conquer Vietnamese market
08/06/2013 10:01
McDonald’s high ranking executives arrived in Vietnam in 2012, the move, which in the eyes of analysts, means that the giant is preparing its plan to conquer the Vietnamese market, which is expected to kick off in 2014, according to Insideretail Asia. However, analysts believe that the...