Vietnamplus

The stock market development has contributed to accelerating the equitisation of State-owned enterprise and public investment restructure, but it can still play a greater role, heard a conference on stock market roles in Vietnam held in Ho Chi Minh City on May 15.

A delegation of the National Financial Supervisory Commission led by Chairman Vu Viet Ngoan paid a working visit to Malta on November 4-5, aiming at promoting trade and investment between the two countries.

Vietnamese economists believe that China will be careful about Vietnam-China trade because the economies of both countries are interdependent, while cross-border trade is now the main source of income for the poorest Chinese provinces, the English-language news website VietNamNet Bridge has said.

Several banks have recently presented plans or expressed intention to complete mergers even as the nation continues to speed up the restructuring of credit institutions.

Vietcombank Chairman Nguyen Hoa Binh told a recent shareholder meeting in Hanoi that mergers and acquisitions (M&As) may happen at the bank in a near future as they are necessary for growth. The bank has plans to raise capital for M&As if and when conditions permit.

Dong Nai province, a magnet for foreign investment in the southern region, has been asked to focus on developing high-technology and environmentally friendly projects to create higher product value.

A workshop to introduce Indonesia’s experience in reforming its banking system was held in Hanoi on March 26, with the participation of many researchers and economic experts.

Together with the determination of the business community and the measures by the Government, the Vietnamese economy will receive more impetus to move forward in 2014, said a weekly magazine of the Vietnam Chamber of Commerce and Industry (VCCI).

The economic recovery depends heavily on new policies and trimming fat from the State budget, Vu Viet Ngoan, National Financial Supervisory Commission chair, told Thoi bao Kinh te Viet Nam (Vietnam Economic Times)

The National Financial Supervisory Committee has suggested a further cut in the deposit interest-rate cap to 7 percent to bring down lending rates to around 10 percent.