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.
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.
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).
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.
Vietnamese businesses have a chance to
look at opportunities to do business in South Africa thanks to a
workshop on promoting bilateral trade in Ho Chi Minh City on March 18.
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.
The Civil Aviation Administration of
Vietnam (CAAV) announced on January 11 that it will take strong action
against high-profile staff at Jetstar Pacific Airlines (JPA) for
violating aircraft maintenance regulations.
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.
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.
The Vietnam-based budget carrier
Jetstar Pacific’s executive board has approved a decision to increase
its chartered capital to more than 1.3 trillion VND from 727 billion
VND.
Vietnam’s potential, opportunities,
environment and investment incentives in infrastructure construction
were introduced to Malaysian businesses at a workshop in Hanoi on Aug.
18.
The National Assembly’s Standing
Committee convened its 22nd session in Hanoi on Aug. 11, focusing on
seven draft laws as well as several other issues.
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.
