Business

State budget set at 43 billion USD for 2012

More than 90 percent of lawmakers voted on Nov. 10 to adopt the Resolution on State budget estimates for 2012 which targets a total spending of more than 903 trillion VND (43.3 billion USD).
Business

Vietnam shares track Asian markets

National stocks on Oct. 26 were in harmony with Asian markets, reversing earlier losses on the hopes that a specific plan to deal with the eurozone debt crisis will be finalised at the upcoming EU summit.
July budget revenue up 21 percent Business

July budget revenue up 21 percent

Vietnam State budget revenue rose by 21 percent year on year to over 51.5 trillion VND (roughly 2.53 billion USD) in July, reported the Ministry of Finance.
Government set to slash public investment Business

Government set to slash public investment

The Vietnam Government will take drastic measures to rectify the direction of the economy, by reducing public investment outlays totalling over 80 trillion VND, equal to 9 percent of the total social investment in 2011.
Business

PM lists urgent tasks to curb inflation

Prime Minister Nguyen Tan Dung on April 3 made a list of several urgent tasks that ministries and sectors must implement immediately to help curb inflation, stabilise the macro economy and ensure social security.
Gov’t asks for post-Tet stabilisation Business

Gov’t asks for post-Tet stabilisation

Prime Minister Nguyen Tan Dung on Feb. 11 issued a dispatch asking ministries, agencies and localities to continue taking comprehensive measures to stabilise the macro economy, curb inflation, speed up production and investment as well as ensure social security after the Lunar New Year (Tet) festival.
Business

Hanoi bond market enters adolescence

Since separate bond trading systems officially began operations on the Hanoi Stock Exchange in September 2009, the market has grown to a listing of 500 bond codes with a value of 223.3 trillion VND (10.6 billion USD) – equivalent to about 12 percent of the national GDP, according to the exchange.
Business

Ministry hikes rates on State-subsidised loans

Interest rates on State-subsidised loans extended through the Vietnam Development Bank or the Bank for Social Policy for export or investment purposes will be increased from 9.6 percent to 11.4 percent per year for Vietnamese dong-denominated loans and from 6 percent to 6.6 percent for loans made in US dollars, under a new regulation by the Ministry of Finance.
Business

Gold deposits hit with income-tax on interest

Holders of gold certificates issued by commercial banks are required to pay 5-percent personal income tax on interest earned by the certificates, according to a ruling by the State Bank of Vietnam aimed at reducing the level of investment in gold.