Business

Vietcombank readies bond issue totalling 265 mln USD

Vietcombank will issue bonds totalling 5 trillion VND (264.55 million USD) to generate capital for business development, improve infrastructure and ensure a capital adequacy ratio of at least 10 percent of total capital, under a plan approved this week by the State Bank of Vietnam.
Business

Foreign investment funds target private sector

A number of foreign investment funds are drawing up plans to expand their investments in Vietnam ’s private sector since many businesses have regained their levels of growth after a long gloomy period due to the global economic downturn.
Business

Vietcombank lowers this-year profit target

Vietcombank shareholders on April 19 approved a lower profit target for the year, cutting the bank’s estimated take this year by 10 percent from earlier forecasts to 4.5 trillion VND (236.84 million USD).
Business

Ministry seeks further extensions for equitisations

Following the tardy progress of equitisation of State-owned enterprises last year, the Ministry of Finance fears similar delays this year too and has said it will ask the Government to extend deadlines for further equitisation.
Business

HCM City launches own investment fund

HCM City on March 16 officially inaugurated its own finance and investment company, aiming to enhance the city’s State-owned capital management and investment effectiveness.
Business

Solutions sought for sustainable craft village

The Vietnam Cooperative Alliance (VCA) held a talk on solutions to develop cooperatives and traditional craft villages, in Hanoi on Nov. 3, within the framework of an international fair on cooperatives and SMEs.

VCA Vice President Nguyen Xuan Hien emphasised the need to create a bridge to unite cooperatives, traditional craft villages and enterprises to develop the market, create jobs for millions of rural workers and enhance social stability.
Business

NA scrutinises State corporations

The country’s 90 State-owned groups and corporations contributed 40 percent of the national GDP from 2006-08, but inefficient management of capital and State assets has reduced their productive potential.
Business

SCIC plans massive share sell-off

The State Capital Investment Corporation (SCIC) plans to reduce its stake in 200 enterprises, in which it represents the State as a shareholder. The SCIC is now managing State stakes in many small enterprises in which State holdings were unnecessary, said Minister of Finance Vu Van Ninh.