Vietnam’s decision to raise interest rates and devalue its currency are positive steps which will help stabilise its finances, but the moves will have no immediate impact on its credit rating, a sovereign credit analyst with Fitch Ratings said on Wednesday. “The monetary tightening and exchange rate measures will help stabilise its external financial position,” [...]
Nov 24 2009 | Posted in
Banking-Finance |
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A leading economist, National Assembly deputy Tran Du Lich, says high inflation and a depreciating dong are both big threats to Vietnam’s economy, but gives priority to stabilizing the exchange rate. The State Bank of Vietnam reports that outstanding credit on 30 October was 33.29 percent more than at the end of 2008, while the [...]
Nov 24 2009 | Posted in
Banking-Finance |
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Tax concessions by the Vietnamese government to spur the economy has reached VND18 trillion since early this year, according to the General Tax Department. Of the figure, deferral of value-added taxes for local exporters accounted for VND3.7 trillion; corporate income tax extension VND2.393 trillion; VAT tax reduction VND10.727 trillion, the department said. The department also [...]
Nov 20 2009 | Posted in
Banking-Finance |
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More and more private equity investors are seeking to acquire strategic stakes in Vietnamese companies as part of their investment portfolios, Grant Thornton said in its survey “Private Equity in Vietnam – Investment Sentiment and Outlook†released Nov. 17. Up to 59% of the 200 investors and consultants surveyed have more upbeat outlook about Vietnam’s [...]
Nov 20 2009 | Posted in
Banking-Finance |
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Instead of heading for UpCom as previously planned, commercial banks are now aiming to list shares on official exchanges. UpCom not attractive any more Several months ago, when UpCom, the market of unlisted public companies, was about to make its debut, commercial banks all promised to put shares into transactions when the market became operational. [...]
Vietnam JS Bank for Industry and Trade (CTG), or Vietinbank, plans to increase its registered capital and set up three new subsidiaries this year. The Hanoi-based listed lender said in a statement that it will establish a jewelry trading company, a fund management company and a life insurance company. No more details about the capital [...]
Nov 20 2009 | Posted in
Banking-Finance |
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