A report from the Hồ Chí Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. — Photo vietnambiz.vn A report from the Hồ Chí Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. The report named lenders such as Agribank, Military Bank, Sacombank, VP Bank and ACB as adjusting their rates upwards in the last two months. According to experts from the Ministry of Planning and Investment’s National Centre for Socio-economic Information and Forecast, inflation and exchange rates remain under control but are under great pressure, and so prudent monetary policies are needed to curb inflation, especially demand-pull inflation. They have … [Read more...] about Tight monetary policy: where can businesses find funds?
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Vietnam-EAEU FTA produces positive outcomes Officials of Vietnam and the Eurasian Economic Union (EAEU) lauded the upbeat outcomes brought about by the EAEU – Vietnam free trade agreement (EAEU – Vietnam FTA) in more than one year and a half since it took effect. The enforcement of the FTA was reviewed at a working session between Vietnam’s Minister of Industry and Trade Tran Tuan Anh and Minister for Trade of the Eurasian Economic Commission (EEC) Veronika Nikishina, in Moscow on June 18. According to statistics of the Vietnam Customs, trade between the two sides hit 3.9 billion USD in 2017, up 31 percent from 2016. Also in 2017, Vietnam recorded a trade surplus of nearly 1 billion USD with the bloc. In the first four months of 2018, the bilateral trade was at 1.53 billion USD, an annual increase of 35 percent. Key exports of Vietnam to EAEU were phones – components, computers – electronic devices, apparel, footwear, fruit – … [Read more...] about BUSINESS IN BRIEF 20/6
Wood furniture firms advised to optimise domestic materials The world’s wooden interior décor market is predicted to grow 3.5 percent in 2018 and continue expanding, bringing chances for Vietnamese businesses to raise exports of the products. If Vietnamese businesses optimise the material sources they have and make the best use of trade promotion activities, their export earnings can surpass 8 billion USD. According to Huynh Van Hanh, Vice President of the Handicraft and Wood Industry Association of Ho Chi Minh City, in the past 15 years, the wood industry has maintained the growth rate of 8-15 percent a year despite world economic fluctuation. The biggest issue of the wood processing enterprises in Vietnam is they are focusing on a market section with low added value, mostly concentrating on outsourcing for foreign clients. To further develop the domestic wood sector, the businesses should pay attention to a higher target of selling abroad the whole space of high-end … [Read more...] about BUSINESS IN BRIEF 14/6
The HCM City Department of Natural Resources and Environment is seeking investment for waste treatment facilities to be located in Cu Chi District. The HCM City Department of Natural Resources and Environment is seeking investment for waste treatment facilities to be located in Cu Chi District.-VNA/VNS Photo Xuan Du The city treats 8,900 tonnes of solid waste per day, with around 69 per cent buried, according to the department. Every day, it also treats 1,500 tonnes of industrial waste, 374 tonnes of hazardous waste and 22 tonnes of medical waste. At a meeting held yesterday, city officials said they were seeking funds for two waste-to-energy projects for solid waste by 2025 to be located at the Phước Hiệp solid waste treatment complex in Cu Chi District, located 40km from the city. The expected processing capacity is 2,000 tonnes per day. The city is also planning to seek investment for an industrial/hazardous waste treatment project at the Phuoc Hiep solid … [Read more...] about HCM City seeks investment for waste treatment facilities
Vietnam Airlines rearranges check-in areas for priority passengers The national flag carrier Vietnam Airlines announced on April 20 that it will rearrange check-in areas for priority passengers. They include business and premium economy-class passengers, and members of the Golden Lotus programme and SkyTeam alliance who will do check-in procedures in counters exclusively designed for them. The move aims to improve its four-star services up to Skytrax standards. Accordingly, new priority check-in areas will be available in Hanoi’s Noi Bai international airport, Ho Chi Minh City’s Tan Son Nhat international airport, and Da Nang, Cam Ranh (Nha Trang) and Vinh airports, and foreign airport in Frankfurt (Germany), Moscow (Russia), Tokyo (Japan), Sydney and Melbourne (Australia), Seoul (the Republic of Korea), Taiwan, Hong Kong (China), Siem Reap (Cambodia), Bangkok (Thailand), Singapore, Kuala Lumpur (Malaysia) and Jakarta (Indonesia). On April 9, … [Read more...] about BUSINESS IN BRIEF 23/4