* The government will keep its tight monetary policy in place at least until the end of this year, Minister of Planning and Investment Vo Hong Phuc told journalists Thursday in the central town of Ha Tinh. "Resolution 11 will be implemented from now until the end of 2011. If the macroeconomic situation hasn't stabilized by then, and there are still signs of instability, we will continue to implement Resolution 11 in the following period," he said on the sidelines of a conference.
* Vietnam's foreign exchange reserves of US$13.5 billion in May covered about 1.4 months of imports, said Benedict Bingham, the International Monetary Fund's senior resident representative in the country, in comments Thursday. Vietnam's foreign exchange reserves covered about 1.4 months of imports at the end of 2010, the IMF said in April.
* Bad-debt ratios at Vietnam's commercial banks have risen to 3 percent from 2 percent previously, and may worsen this year, Nguyen Van Binh, deputy governor of the country's central bank said at a conference in the central town of Ha Tinh. Vietnam will target keeping bad-debt ratios under 5 percent, which Binh said is a "safe level," and is feasible with "tight monitoring."
* Vietnam National Petroleum Corp., the nation's biggest fuel supplier, plans to raise funds through an initial public offering next month. The company, known as Petrolimex, plans to hold an investor roadshow before July's IPO, deputy chief executive officer Vuong Thai Dung said Wednesday, declining to indicate how much the fuel supplier aims to raise. Prime Minister Nguyen Tan Dung approved the sale of a 2.56 percent stake in Petrolimex to the public, the government said last week.
* Up to 81 percent of firms took inflation into consideration when considering salary hikes for their employees, according to a recent survey by Navigos Search, one of the leading recruitment firms in Vietnam. Of the four fundamental factors that a company considers while holding a salary review, individual performance ranked first; inflation ranked second, followed by company performance and external and internal competitiveness. Approximately 54 percent of surveyed companies increased staff salaries by 11-15 percent in 2011.
* Vietnam's gross domestic product growth will average 6.7 percent in the period 2011 - 2013, the World Bank forecast in its Global Economic Prospects report Wednesday. "Despite the encouraging growth outlook, policymakers will face stiff challenges in the short term to ensure that recovery remains on track as expansionary fiscal measures are withdrawn amidst building inflationary pressure," the bank said.