Business

Vietnam can deal with bad debts, but it would not be an easy task, said the Governor of the SBV at a National Assembly discussion.

Many foreign direct investment enterprises have accelerated investments and are now outperforming domestic firms in many major Vietnamese export sectors.

NA deputies questioned the Minister of Construction about outstanding debts and misconducts at Song Da Group.

Vietnam may export 7.7 million tonnes of rice this year, setting a new record because of increased export orders.

The US will overtake Saudi Arabia and Russia as the world's top oil producer by 2017, the West's energy agency has said.

Greece's unrelenting debt drama tops the agenda when Eurozone finance ministers discuss whether Athens has met conditions set by its international creditors.

The VASEP estimates that with the current difficulties in the seafood export industry, their earlier target of $6.5 billion annual turnover will not be met.

A number of Vietnamese banks have made recent and sudden cuts to deposit interest rates.

The European Union has announced a new Generalized System of Preferences for developing nations, including Vietnam, which will come into force on January 1, 2014.

Total lending for non-production sectors decreased by 1.1% while credit for production industry increased considerably, according to new statistics.

More than 200 businesses from 16 countries are expected to participate in the Inmex Vietnam 2013, in HCM City in early March 2013.

State-owned groups have continued asking the government for financial support, putting more pressure on the state budget.

Vietnam and the UK have agreed to raise two-way trade turnover to $4 billion in 2013 with the latter’s foreign direct investment in Vietnam reaching $3 billion.

The hotel sector in Asia is expected to grow strongly with a compound annual growth rate of 7% in the 2012-2016 period, with Vietnam obtaining the highest growth of up to 15%.

The State Bank of Vietnam has announced plans to buy back gold from the public in a bid to resolve the problem of gold hoarding by wary savers.

Three international agencies have jointly financed a USD800 million project to help ensure a stable power supply.

The National Assembly has set target GDP growth rate of 5.5% and a 10% increase in export revenues next year.

The interest rates will surely not decrease. If the biggest problem of 2011 was the weak liquidity, the problem of 2012 and 2013 is the bad debt.

Vietnam will team up with the Republic of Korea and Denmark to promote green growth - an issue that was set forth in the country’s Green Growth Strategy for 2012-2020, and to 2050.