New briefs

TN News

Email Print

* Vietnam, the world's second-largest rice exporter in 2011, shipped 3.55 million tons from the beginning of the year to July 12, according to the Vietnam Food Association. Shipments were 133,463 tons from July 1 to July 12, the association said in a statement on its website Tuesday. Vietnam, which exported a record 7.11 million tons in 2011, according to the association, may ship 6.25 million tons this year, the agriculture ministry said on May 30.

* Bank for Investment and Development of Vietnam is seeking an adviser to help it sell US$500 million of dollar-denominated bonds in international markets. "We will watch the global markets to see when we can sell the bonds, hopefully this year," Quach Hung Hiep, a deputy general director at the bank, known as BIDV, said Tuesday. "We plan to sell the bond in US dollars with the proceeds to be used for our development projects." The lender will take bids for the adviser role from overseas and domestic companies until August 30, according to a statement on its website.

* The State Bank of Vietnam has asked lenders to continue implementing their assigned credit growth target and it will consider allowing them to boost lending beyond the quota, Tuoi Tre newspaper reported Wednesday. The central bank in February set limit on credit growth for three groups of lenders at 8 percent, 15 percent and 17 percent this year, while a fourth group is not allowed to increase credit at all.

* It will be difficult for Vietnam to boost exports in the second half of the year to meet the annual target of around $109.5 billion due to the unfavorable conditions of the world economy, Hanoi Moi newspaper reported, citing Deputy Minister of Industry and Trade Nguyen Thanh Bien.

* Vietnamese stocks may rise from the end of the current quarter as economic growth recovers and boosts corporate earnings, Finance Minister Vuong Dinh Hue said. "Companies' performance should improve by that time, bolstered by a domestic macroeconomic recovery," Hue said last week. Vietnam needs to spur investor confidence by improving the transparency of corporate earnings, particularly among state-owned enterprises, he also said.

* With a growing expat community and a supply equal to 25 percent of the stock in Bangkok, Ho Chi Minh City has a long way to go before reaching the demand for serviced apartments, property firm CB Richard Ellis said. "As foreign direct investment picks up, so will the market," the company forecast. It launched DB Court, a new serviced apartment project with 38 units, in the city's District 3 on Tuesday.

More Business News