* The government is working with Tata Steel Ltd. to push forward a delayed US$5 billion steel plant in the country, said Deputy Prime Minister Hoang Trung Hai. "This is
* project that Vietnam really wants," Hai told journalists at a press conference during a meeting of the Asian Development Bank in Hanoi on Tuesday. "However, the preparations have been slow."
* Finance Minister Vu Van Ninh said Vietnam's debts and budget deficit have been controlled and national financial security is being maintained. The country's policy is to "sustain national financial security, ensure macro financial balances for each development period, to gradually reduce state budget deficit, and maintain outstanding public debts within safe limits," Ninh said in remarks prepared for delivery at a meeting of the Asian Development Bank in Hanoi.
* Vietnam's harvest of winter and spring rice, which accounts for about half of its annual production, is forecast to rise 1.5 percent to 19.5 million tons, the United Nations's Food and Agricultural Organization said in a report. Vietnamese rice exports were about 7 million tons in 2010, a record, and are forecast to be even higher this year, according to the report. The country is the world's second-largest exporter of the grain after Thailand.
* Asia Commercial Bank, or ACB, said first-quarter consolidated net profit rose 45 percent to VND636 billion ($30.8 million) from a year earlier, according to a statement on its website. The bank's total assets were VND206.8 trillion by March 31, up from VND205 trillion at the end of 2010, it said in the statement.
* Export-Import Bank of Korea received a license on Wednesday from the central bank to open a representative office in Hanoi, according to a statement on the State Bank of Vietnam's website. The South Korean bank has to open the office within 12 months of receiving the license, the statement said.
* Vietnam will need to build power plants with a total capacity of more than 50,000 megawatts through 2020, said Pham Hung, deputy director of the energy department of the Ministry of Industry and Trade. Vietnam will put forward policies to encourage investors to help build more power plants, Hung said Tuesday.
* Vietnam Shipbuilding Industry Group's total debt stands at VND63 trillion ($3.05 billion), down from 86.6 trillion dong in May 2010, the Vietnam News reported, citing a Government Office dispatch published last month. The government also approved a plan to extend by less than two years the payment period on a Vietnam Development Bank loan to the shipbuilder, known as Vinashin, the paper added.