Vietnam

FPT Has Not Received Deposit From Cancelled Acquisition of EVN Telecom

September 19, 2011 (Vietnamica) – Four months after submitting the cancelled acquisition of  60 percent of EVN Telecom’s stake to the Prime Minister, FPT has not received their transaction deposit of VND 700 billion (US$34 million) yet. According to Securities Investment Newspaper (Sept 19), there is also no hint of how the dispute between FPT and EVN Telecom would be solved.

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Vietnam’s Insurance Industry Performance in H1.2011: Update

September 18, 2011 (Vietnamica) – Vietnam Business News, Sept. 17, reported that in the first six months of 2011, Vietnamese insurers earned VND17.362 billion (US$842 million) of premiums, up 22 percent year-on-year. Meanwhile, they paid VND 5.892 trillion (US$283 million) of compensations. In light of this, the insurers unveiled revenue growth of 10-15 percent in the first eight months of the year.

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Bangkok Post Updates on Xayaburi Construction

September 18, 2011 (Vietnamica) – The Bangkok Post Sunday (Sept 18) revisited the Xayaburi constration and found that a major road leading to the dam site is 90% finished. Senior engineers, who asked to remain anonymous, said the road construction was nearly done. It is alleged that the work has never been stopped.

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On the Performance of Vietinbank in 8 Months 2011

September 18, 2011 (Vienamica) – Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank- HOSE: CTG) has raised total assets to VND 450 trillion (US$21.6 billin), representing an increase of 25 percent, said the bank’s chairman Pham Huy Hung.

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VEA Asks For Restricting Business Activities with Chinese Contractors

September 17, 2011 (Vietnamica) – Vietnam Energy Association (VEA) has sent a proposal to the Vietnamese Communist Party and Government leaders asking for restricting business activities with Chinese contractors, especially in power industry (VnEconomy, Sept 16).

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SBV Refinances VND 24 Trillion For VietinBank and Agribank

September 16, 2011 (Vietnamica) – Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG) has recently been refinanced about VND 19 trillion at the interest rate of 14% per annum (p.a.) after it finalized repayment of VND 35 trillion refinance that became due to the central bank (Vietbiz24, Sept 16).

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