On August 2, the State Bank of Viet Nam issued a directive requiring credit institutions to fully comply with all set objectives and orientations and control their credit growth. — Photo baodautu.vn On August 2, the State Bank of Viet Nam issued a directive requiring credit institutions to fully comply with all set objectives and orientations and control their credit growth. It says the central bank will not countenance any increase to their credit growth targets and they have to focus on lending to priority sectors like manufacturing and other businesses. It requires them to control lending to potentially risky sectors like real estate and securities and to transport-related projects. The central bank began the credit quota system in 2012, when many banks increased their lending by up to 50 per cent, causing a surge in non-performing loans. Every year it sets credit growth limits for each bank depending on its health at the beginning of the year to regulate overall credit … [Read more...] about Central bank holds firm on plans to control credit growth and asks lenders to avoid risky sectors
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Alternative investment opportunities in Việt Nam
Viet Nam News by Brian Spence This week, we take a look beyond shares and bonds at some of the more unusual and potentially lucrative alternative investment opportunities. “Alternative” investments is a catch-all term for anything that is not shares, bonds, mainstream property or cash. Beyond these traditional asset classes, Vietnamese investors can invest in everything from stamps and fine wine. Of course, the fact that alternative investment opportunities exist does not mean these investments are safe or advisable. Before you even consider an alternative investment opportunity, you need to understand the risks. When you’ve understood some of the dangers, take a look at some of the alternative investment ideas below. All of them are available to Vietnamese investors, although not all are Việt Nam-based. We’ve put them roughly in order of risk, starting with the “safest” and ending with those you should definitely steer clear of. This is … [Read more...] about Alternative investment opportunities in Việt Nam
Fuel price hike threatens to raise VN inflation
The global price of oil has increased from US$60 per barrel early this year to $70 now, and the uptrend is forecast to continue.— Photo vov.vn This was the second increase in retail fuel prices this year. The global price of oil has increased from US$60 per barrel early this year to $70 now, and the uptrend is forecast to continue. Nguyen Bich Lam, director of the General Statistics Office, said international organisations have forecast average crude prices in 2018 to range at $70-80 per barrel. So domestic petrol prices are projected to increase by 5-15 per cent and have an impact of 0.28-0.64 percentage points on consumer prices. Vietnamese fuel prices are enormously impacted by global rates since the country imports 70 per cent of its fuel needs. Of course, as an exporter of crude, it also benefits when oil prices rise. Fuel prices have a bearing on the cost of most other products in the basket of goods that makes up the consumer price index (CPI). Two fuel price hikes in … [Read more...] about Fuel price hike threatens to raise VN inflation
Fuel price hike threatens inflation
The global price of oil has increased from US$60 per barrel early this year to $70 now, and the uptrend is forecast to continue.— Photo vov.vn Compiled by Thiên Lý This was the second increase in retail fuel prices this year. The global price of oil has increased from US$60 per barrel early this year to $70 now, and the uptrend is forecast to continue. Nguyễn Bích Lâm, director of the General Statistics Office, said international organisations have forecast average crude prices in 2018 to range at $70-80 per barrel. So domestic petrol prices are projected to increase by 5-15 per cent and have an impact of 0.28-0.64 percentage points on consumer prices. Vietnamese fuel prices are enormously impacted by global rates since the country imports 70 per cent of its fuel needs. Of course, as an exporter of crude, it also benefits when oil prices rise. Fuel prices have a bearing on the cost of most other products in the basket of goods that makes up the … [Read more...] about Fuel price hike threatens inflation
Social News 5/4 (Hourly Updated)
Twenty-seven more communes and wards this year join family medical practice A health staff member takes blood for testing at An Hòa ward health station in Cần Thơ City’s Ninh Kiều District. Source http://soytecantho.vn The Department of Health in the Mekong Delta city of Cần Thơ this year plans to expand a model of family medical practice clinics to 27 more communes and wards. Family medical practice clinics aim to provide comprehensive and continuous health care services to each local individual and family in order to reduce overcrowding of patients at city or central-level hospitals. These clinics are located at health stations in communes and wards. Each commune or ward has one health station. Cần Thơ aims to equip more than 80 per cent of its 85 health stations with these clinics by 2020. According to Dr Bùi Thị Lệ Phi, the department’s head, the city now has 18 commune-based health stations with family … [Read more...] about Social News 5/4 (Hourly Updated)