Press

$231mn ADB loan for power transmission

VET The government has signed a $231.3 million loan agreement with the Asian Development Bank (ADB) to enhance the power transmission network in southern Vietnam. The loan is the third tranche of the ten-year Power Transmission Investment Program, which was approved by the Manila-headquartered ADB in 2011. “The inadequate supply of electricity is a key

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Vietnam sees 2016 GDP growth slowing to 6.3-6.5 pct, to pick up next yr: PM

REUTERS Vietnam expects annual economic growth of 6.3-6.5 percent this year, below target and slowing from last year’s 6.68 percent, as weakness in agriculture and exports dragged on one of Asia’s most resilient economies. Adverse weather, including drought in the coffee belt and salination in the Mekong Delta, have put the brakes on Vietnam’s rapid

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New interest rate level would not be formed soon

Bao Dau Tu       Last week, series of banks reduce lending rate but it would not be a confirmation for new interest rate level. Since 15 October, Vietcombank reduced VND short term landing rate in five preferential sectors and star-ups. Interest rate of all out-standing short-term loans would be at 6 percent per year maximum

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Where did bank credit capital flow?

Dau Tu Chung Khoan Lending rate dropped, banks offered more preferential credit packages but it was still difficult for SMEs to access. To catch end of the year capital demands, banks offered different preferential credit package for customers, including individuals and SMEs. For example, Kienlongbank provided a package of 400 billion dong with interest rate

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FTA enforcement opens up new prospects for Vietnam-EAEU trade

VNA Ambassadors of member countries of the Eurasia Economic Union (EAEU) have pinned high hope on trade and investment ties between EAEU and Vietnam as their free trade agreement took effect on October 5. The pact was inked in Burabay, Kazakhstan, on May 29, 2015 by Vietnam and the EAEU members, namely Russia, Belarus, Kazakhstan,

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New interest rate order begins to take shape

VnEconomy Photo: Dao Ngoc Thach One week after state-owned banks decided to significantly lower deposit rates, most of joint stock banks (with no dominant state ownership) have not yet responded. However, a new order of deposit rates has temporarily taken shape. This order is more logical in terms of interest rate curve as well as

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WB: Vietnam’s public debt ratio will not exceed limit this year

BizLIVE At the announcement of the East Asia and Pacific economic report update on October 5th, the World Bank (WB) keep the forecast on the Gross Domestic Product (GDP) growth of Vietnam unchanged at six percent, lower than the target of 6.3-6.5 percent approved by the government at the regular meeting on October 4th. In

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Vietnam’s Economy Remains Outperformer as GDP Climbs 6.4pct

Vietnam’s economic growth accelerated this quarter, boosted by foreign investments and rising exports. Key Points Gross domestic product rose 6.4 percent in the third quarter from a year earlier, up from 5.78 percent in the previous three months, the General Statistical Office said in Hanoi Thursday. In the nine months through September, the economy grew

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Is the race to reduce interest rates not for small banks?

Recently, some state-owned commercial banks plummeted deposit rates in dong by 0.3-0.5 percent/year. The State Bank said “This is a positive solution to carry out the direction on reducing lending rates”. However, will this interest rate reduction trend develop into a general trend or only in a few banks having abundant capital? And how will

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