As per statistics from authorities, more than 230 foreign-invested projects from Taiwanese and Korean investors that had been licensed have been dissolved and gone bankrupt so far. Notably, some foreign investors used investment licenses to be able to borrow capital from banks, but then they came back home without repayment of the bank loans. Currently, [...]
In the first nine months of this year, 48,700 enterprises have been dissolved or shut down operations, rising 21.8% from the same period last year, Bui Quang Vinh, minister of planning and investment said on October 1. Of which, 5,803 companies have been dissolved, 11,421 firms have suspended operations and 31,477 enterprises have stopped tax [...]
After economists gave the warning about the increasing ratio of the public debt on GDP, they have also pointed out another worrying problem – the sharp increases of the private economic sector’s debts. According to the World Bank (EB), the total credit outstanding loans of the private economic sector in Vietnam is now equal to [...]
Foreign invested enterprises (FIEs), in the past, were always considered “big clients”. Therefore, banks did not think much when providing big loans to them. However, many of them were not “big clients” at all. A lot of businessmen from Taiwan and South Korea have fled and left huge debts of tens of millions of dollars. [...]
Representatives of foreign invested enterprises’ associations say a lot of their member companies have decided to cancel the plans to make further investments in Vietnam, while keeping the “wait-and-see” attitude. The World Economic Forum (WEF) has released the 2011-2012 report on the global competitiveness late last week, which showed that Vietnam fell by six grades [...]
Businesses are struggling with rising inventory on the back of a bleak economy. Inventory volumes at processing and manufacturing firms hiked 17.8 per cent against the same period in 2010. For instance, around 500,000 tonnes of steel now sit idle at steel firm stores, according to the Vietnam Steel Association (VSA). VSA deputy chairman Nguyen [...]
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