Viettel earns nearly USD 2 billion profit in 2017

Banks have lent nearly 398 trillion VND(22.2 billion USD) under the Government’s subsidised interest loanprogramme through the end of August, according to the State Bank ofVietnam. During the week of August 20-27, banks lent nearly 1.7trillion VND (95 million USD), roughly 700 billion VND (39.1 millionUSD) more than in the previous week.Of the cumulative total, State-owned commercial banks and credit unionshad lent 274 trillion VND (15.3 billion USD); private commercial bankshad disbursed nearly 98 trillion VND (5.47 billion USD); and jointventure banks, foreign bank branches and wholly-owned foreign banks,nearly 20.9 trillion VND (1.16 billion USD). Finance companies have also lent…... [read more]

According to Ngo Van Tuan, Director of the provincial Department of Industry and Trade, local export earnings reached USD 2.5 billion in 2017, up 19.3 percent from the previous year and 6.4 percent higher than the plan. Tra fish processed for exports  Robust growth was seen in key earners like agro-fishery products and industrial products, he said, adding that seafood continued to be the driving force for local export. Last year, the province earned USD 410 million from seafood exports, a year-on-year increase of 43 percent. 90 percent of the value was contributed by processed tra fish products. Major importers…... [read more]

Tao Duc Thang, Viettel’s deputy general director said the group currently targets a revenue of nearly VND550,000 billion from 20 nations by 2020. Viettel will continue making surveys and find new markets in Eastern Europe, Latin America, Africa and Asia in the coming time.  Revenues from telecoms business abroad of Viettel reached US$1.2 billion last year. ... [read more]

Two-way trade between Vietnam and Argentina reached USD 2.42 billion in the period from January to early November this year, it was reported at the fifth meeting of the Vietnam-Argentina Inter-Governmental Committee in Hanoi on December 2. Deputy Minister of Industry and Trade Do Thang Hai and Argentine Ministry of Foreign Affairs and Worship’s Secretary for International Economic Relations, Ambassador Maria Cristina Boldorini co-chaired the event. Deputy Minister of Industry and Trade Do Thang Hai (L) and Ambassador Maria Cristina Boldorini at the meeting. (Source: According to the Ministry of Industry and Trade’s report, the two-way trade value showed a…... [read more]

On July 19, 2017, Chairman of the Phu Yen People’s Committee Hoang Van Tra sent a document to the provincial Department of Planning and Investment to urge the implementation of big projects in the province. Accordingly, the project on Vung Ro complex was put under a warning status.In particular, at the end of May 2017, the committee had a meeting with Vung Ro Petroleum Company Limited, the developer of the Vung Ro project. The developer committed that by July 7, 2017, it would publicise an official report about the project as required by the local authorities, including its restructuring plans…... [read more]

With the impressiveexport recovery, the outlook for exports to the EU powerhouse appears tobe brighter than last year, say leading market analysts.Vietnammainly ships telephone handsets and components, footwear, garments,coffee, timber products, seafood, backpacks, bags, wallets, handicraftsand computers, electronics and components to Germany.Despite a24.1 percent fall in value, telephones and components led the exportitems, raking in 301.58 million USD, accounting for more than 20 percentof the total.Coffee ranked second, fetching 161.84 million USD,a year-on-year rise of 21.9 percent. Vietnam ships Robusta L1 and L2 toGermany through its Saigon port.Garments came in third at 153.64 million USD, up 17.4 percent.Otherproducts achieving high…... [read more]

The corporate value of Binh Son Refining and Petrochemical Company Limited (BSR) was assessed at VND72 trillion (US$3.2 billion), according to a decision signed by Minister of Industry of Trade Tran Tuan Anh on Wednesday.Of that figure, more than VND44.9 trillion is the State-owned capital. With this assessment, BSR is the largest-ever Vietnamese company by market capitalisation.The corporate value assessment is a basis for BRS, a member of the Vietnam National Oil and Gas Group (PetroVietnam), to carry out necessary steps before equitisation.BSR plans to launch its initial public offering (IPO) in the fourth quarter of this year, with a…... [read more]

According to recent statistics, November’s export revenue hit US$241.27 million, up 6.3% from the previous year.Key Vietnamese export items included telephones and spare parts (US$591.9 million, up 105.1%), steel products (US$290.3 million, up 11,0%), transport vehicles, rice, and garment and textile products.Other exports with rapid growth were computers and spare parts, machines, and electronic products.... [read more]

On average rubber was sold at US$4,315 per tonne, up by 58 percent from a year earlier. In August alone, 85,000 tonnes of rubber worth US$356 million were exported at the price of US$4,190 per tonne. The demand for rubber is likely to rise until the end of 2011, announced the Vietnam Rubber Association.  Rubber exports likely to hit US$3 billion in 2011... [read more]

Overseas shipment of furniture and aquatic products surpassed over US$ 6 billion each.Specially, in November, agro-forestry-fishery export valued at US$ 2.69 billion, bringing the total export turnover to US$ 29.1 billion in the first 11 months, up 5.9% against the same period last year.Meanwhile, total import turnover was estimated US$ 2.1 billion in November and US$ 22.15 billion in the first 11 months, up 4.6% against the same period last year.In the January-November period, nearly 4.54 million tons of rice were shipped abroad, earning about US$ 2 billion in turnover, down 25% in quantity and 20.3% in value. China was the largest rice importer of Vietnamese rice…... [read more]