Sign of Increasing Dollarization in Vietnam’s Banking Sector: Apr 2011May 13, 2011 (Vietnamica.net) – State Bank of Vietnam released a new report which shows that in Apr 2011, total deposits into the banking system decreased by 1.09 percent against the previous month. The decrease was due to a significant drop of Vietnamese Dong (local currency) deposits, which went down by 1.84 pct.
SBV to Restrict State Corporations’ Foreign BorrowingsMay 13, 2011 (Vietnamica.net) – The State Bank of Vietnam (SBV) is drafting a new decree which is likely to restrict State-owned enterprises’ borrowings from international lenders.
May 13, 2011 (Vietnamica.net) – The Ministry of Industry and Trade has called for investors to join electricity plant projects ensuring sufficient power supply in the 2015-20 period. Both BOT and PPP forms are welcome. Bidding invitation procedures are under preparation. Deputy Prime Minister Hoang Trung Hai unveiled, in discussion of the Asian Development Bank’s (ADB) 44th Annual Meeting, that electricity shortage has become critical in Vietnam although power plant investment accounts for over 10% of the overall investment in the economy.
May 13, 2011 (Vietnamica.net) – The level of trust of the European business community in Vietnam and its business prospects has dropped, a poll by the European Chamber of Commerce in Vietnam (EuroCham) has found.
May 12, 2011 (Vietnamica.net) – Poverty will rise in Vietnam as a result of soaring inflation this year so the government must stay the course on price-busting policies, John Hendra, head of the United Nations mission in the country, said on Tuesday.
May 12, 2011 (Vietnamica.net) – Vietnam Economic News (May 11) revealed Ministry of Information and Communication’s statistics on the use of email at state offices. 90 percent of ministries, ministerial-level offices and governmental organizations and 93 percent of centrally-controlled provinces and cities have used email at work.
