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BUSINESS IN BRIEF 12/11
Vietnam-China
trade fair reaps rich benefits
The
Vietnam-China Border Trade Fair taking place on November 8-12 in
At the
fair, enterprises have set up more than 1,200 pavilions displaying a wide
variety of wares including agro-forestry and fisheries products, automobiles,
equipment, electronics, garment and textiles, and footwear.
A
representative from the Yunnan Provincial Department of Commerce has
suggested that leaders of Lao Cai and
During
the fair, a series of seminars are planned to help businesses of both
localities share experience and seek cooperative opportunities.
Property
market drives rise in cement demand
Of the
total, 41.54 million tonnes were consumed in the domestic market, up eight
per cent compared with the corresponding period last year, while exports rose
slightly by one per cent to reach 11.68 million tonnes.
The
ministry said that the increase was due to the high demand from property
projects that resumed construction, even though the local property market has
not recovered completely, reported .
The
inventory of cement in October reached 2.84 million tonnes, equivalent to 13
to 15 days of production.
Le Van
Toi, head of the building material department, said that the last two months
of this year are also the construction season. Many projects will promote
their constructions, leading to growth in cement consumption as well as other
kinds of building material products against previous months.
By the
end of this year, cement consumption is expected to gain a growth rate of
seven to eight per cent in the domestic market, and five to six per cent in
the export markets, he said.
However,
the cement industry still faces several challenges in terms of high capacity
and cheap export prices, according the Viet Nam Cement Association.
Cement
export is the best way to resolve the issue of high inventory in the local
market, said the association, but the export price is always at a low rate of
$50 to $55 per tonne for cement and $38 per tonne for clinker. The export price
in the regional market is $75 per tonne for cement of the same variety and
quality, reported Thoi bao Kinh te Viet Nam (Viet Nam Economic Times)
newspaper.
Vietnamese
cement exports are competitive in price, but the local enterprises have not
made profits from exporting cement, it said.
Binh
Dinh to move 70 firms
Seventy
enterprises at Quang Trung and Nhon Binh industrial complexes in
The move
will be made to comply with city plans up to 2035, said Nguyen Van Thang,
deputy director of the province's Industry and Trade Department.
The
provincial People's Committee plans to move non-polluting companies to the
Bui Thi Xuan Industrial Complex.
The
others will be moved to a new complex, which will be built on the western
side of Highway 19.
TAL
Group to build garment factory
Hong
Kong's TAL Group will build a garment factory in the
The
group recently received an investment licence for its US$50-million project.
The factory's products will be exported.
The
factory, to be built on 8ha of land is expected to open by September next
year. It will produce 12 million shirts a year and create stable jobs for
3,500 workers.
The TAL
Group has been in
TAL has
exported up to 90 per cent of its products to the
This
city aims to construct 13 new industrial clusters with a total area of 763,91ha
by 2020 and 15 new industrial clusters with a total area of 919,3ha by 2030.
Figures
from the city's trade and industry department showed that the city has 86,000
industrial production units, 12 industrial parks, three processing zones, one
high-tech park and one high-tech zone with a total area of 3.521ha.
By
end-September, the city had 27 industrial clusters with a total area of
1,467ha. Of these, exactly 16 clusters have been in operation, attracting 600
investment projects and providing jobs for more than 32,000 people.
City
authorities said several businesses in residential areas faced the risk of
fire. To move these businesses out of these areas, the clusters were
developed.
Ha
Noi to speed up land right transfers
The
People's Committee here has asked the Department of Natural Resources and
Environment to issue land use rights certificates within 30 days from
application.
Under a
regulation on land right transfers in the city which the committee has
issued, the department will have to grant licences to housing development
projects and land use rights certificates within the stipulated time. If
there are supplementary documents, the licences will be released within 10
working days from the date of receipt of the documents.
If the
department needs instructions from State management agencies, the latter will
have to respond in writing.
Affordable
housing sold in capital
About
150 units of Sunrise Apartment in Ha Long Marina Urban Area, northern
Sunrise
Apartment includes seven nine-floor buildings consisting of units measuring
53sq m to 67 sq m each, with smart designs and spectacular views of the ocean
as well as the signature modern and synchronous infrastructure of Ha Long
Marina Urban Area.
Syrena
Viet
Ceramic
makers admit need for improvements
The
productivity of
Pham Van
Bach, vice chairman of the Vietnam Building Ceramic Association, said tile
output last year was 310 million square metres against a capacity of 450
million square metres.
Production
of sanitaryware items was even lower - at 10.8 million items, a mere 60 per
cent of capacity - he told a seminar on ceramic manufacturing technology
organised by the Italian Trade Commission in
Export
of ceramic products last year fetched US$300 million of which sanitaryware
represented 20 per cent, while imports, including through informal border
trade, totalled $70 million, he said.
Production
of ceramic products including tiles and sanitaryware rose by 5 per cent
year-on-year in the first half of this year, he said, without providing
figures.
Not only
productivity but also the quality of ceramic products is low, he admitted.
She
expected the seminar to provide an opportunity to develop co-operation in and
exchange information about technologies related to processing of raw materials,
decoration, and distribution of finished products.
The
outstanding feature of Italian ceramic technology is its
environmentally-friendly nature that helps save fuel and raw materials while
reducing harmful emissions.
Viglacera to begin work on four industrial parks
The
Viglacera Corporation said it would finish procedures to start work on four
industrial parks in the fourth quarter.
The
projects are Ha Vang Industrial Park in the central province of Ha Tinh, Phu
Ha Industrial Park in the northern province of Phu Tho, Phong Dien Industrial
Park in the central province of Thua Thien - Hue and the expansion of Yen
Phong Industrial Park in the northern province of Bac Ninh.
The
ceramic building material producer held its initial public offering in February,
selling 19.47 million stocks and earning VND200 billion (US$9.4 million).
In July
this year, the corporation officially became a joint-stock company with
charter capital of VND2.6 trillion ($123.2 million).
Ca Mau farmers in trouble after sugar plant stops
operation
Sugarcane
growers in Ca Mau Province have been thrown into a difficult position despite
the peak cane harvest season as the only sugar refinery in the Mekong Delta
province has suspended operation after being fined for environmental pollution.
The
suspension of Ca Mau Sugar Plant has sent sugarcane prices down but the
bigger problem for local sugarcane growers is that they cannot sell their
output.
According
to the Vietnam Environment Administration, Tay Nam Sugar Company, the
operator of Ca Mau Sugar Plant, has been fined VND360 million for failing to
meet environmental protection requirements.
However,
the company director’s Le Van Hieu said the company’s wastewater treatment
system has not done harm to the environment. He added that the company has
requested relevant agencies to reconsider the fine.
Ca Mau
Sugar Plant was formerly named as Thoi Binh Sugar Plant and under the State
management. Thoi Binh underwent equitization in 2009 and was then renamed and
transferred to Tay Nam Sugar Company.
Thoi
Binh was previously detected to seriously pollute the environment. To
continue the operation of this mill, Tay Nam Sugar Company had to invest in a
wastewater treatment system having a capacity of 180 cubic meters per day.
Nevertheless,
the Vietnam Environment Administration said the plant’s wastewater treatment
system was substandard as the mill used outdated treatment technology. But
the company said Ca Mau plant used new technology of
According
to Hieu, his company sought permission from the Ministry of Natural Resources
and Environment when preparing to build the treatment system. “We got no
response and were fined when we built the system,” he said.
In
previous years, partners and banks were willing to lend Tay Nam Sugar Company
to buy sugarcane from farmers. “But this year, due to the incident, no one
has lent to us,” Hieu complained.
Tay Nam
Sugar Company had difficulty mobilizing capital, so it decided to temporarily
close the plant.
According
to the Department of Agriculture and Rural Development of Ca Mau Province,
the price of material sugarcane has tumbled to around VND500 per kilogram but
there is still no buyer.
“The
current price is VND200-300 per kilogram lower than production cost. If
selling sugarcane, we will lose VND200-300 for every kilogram sold while we
will lose all if having no buyer,” said farmer Nguyen Van Binh in Thoi Binh
District.
Nguyen
Thanh Long, chairman of the Vietnam Sugar and Sugarcane Association, said the
Mekong Delta region has many operational sugar mills which can consume
sugarcane of farmers in Ca Mau Province.
However,
the problem is the long distance, which will push up transport cost.
Therefore, companies in other provinces cannot buy sugarcane from Ca Mau at
higher prices, according to Long.
VAST
expects higher earnings from tech transfer
The
Vietnam Academy of Science and Technology (VAST) is targeting higher revenues
from scientific and research services and technology transfer this year given
positive growth in the past years.
The
academy earned VND174 billion from scientific and research services and
technology transfer last year, according to Phan Chi Dung from at the
academy’s department of technology application and development.
Dung
said the revenues from these sources increased year after year with VND113
billion in 2010, VND121 billion in 2011 and VND151 billion in 2012.
The
revenues have helped VAST’s scientists improve and commercial many studies
for sale on the local market. For instance, Mediplantex National
Pharmaceutical JSC has bought a substance extracted by a chemistry arm of the
academy from turmeric to process a functional food for patients with
stomach-related diseases and cancer.
Despite
increasing earnings, Dung said the academy needs more funding to improve
studies.
Three
transformation plans for Bien Hoa 1 IP
Dong Nai
Industrial Park Development Corporation (Sonadezi) has sent the government of
The province’s
vice chairman Tran Minh Phuc said Sonadezi had proposed the three plans based
on the results of its survey of 107 enterprises operating at Bien Hoa 1. Of
these enterprises, 26 want to continue staying in the urban-service
–commercial area project, 23 others plan to relocate, and seven wish to
participate in a level-one joint stock company which will invest in
infrastructure for the area.
With the
first plan, the provincial government will set up a project management unit
in charge of site clearance and compensation, and infrastructure development
in the area. Enterprises that move to other places will get support from the
province and enjoy policy incentives.
The
second plan envisages establishing a level-one investment firm to develop
infrastructure for the area and manage land. Those wanting to follow the
project will be welcome and relocating enterprises will receive support.
Besides, enterprises operating at Bien Hoa 1 will be given priorities to
invest in and trade components of the area.
In the
final plan, there will also be a company in charge of managing and developing
infrastructure for the entire area and paying land rent. Appropriate support
will be given to enterprises wanting to stay with the project and companies
which will move.
Sonadezi
estimated the total costs of infrastructure construction, site clearance and
compensation and relocation support at Bien Hoa 1 Industrial Park at VND11.4
trillion.
Sonadezi
has asked the provincial government to seek incentive tax and credit to
facilitate the implementation of the project.
Soft
loans for more Can Tho homebuyers
More
citizens in Can Tho City will be allowed to borrow money from the country’s
VND30-trillion home loan package to buy homes at a social-commercial housing
project of Hoang Quan Can Tho Investment Real Estate Corporation.
Hoang
Quan Can Tho, a subsidiary of Hoang Quan Investment Real Estate Corporation,
was licensed to develop the housing project to provide houses and apartments
of under 70 square meters for low-income buyers in the Mekong Delta province.
Hoang
Quan Can Tho has completed necessary procedures to sell homes in the project
as required. The real estate company will develop 33 blocks as part of the
project covering 12 hectares in Cai Rang District.
So far,
the company has found customers for 192 out of 233 apartments it has put up
for sale in the first phase of the project. When finished, the whole project
is expected to provide more than 700 townhouses in addition to apartments for
the market.
Nguyen
Van Tung, representative of Hoang Quan Can Tho, told the Daily that 50 homes
of the project will be delivered to customers by the end of this month and
177 others are under construction.
Tung
said 37 homebuyers of the project have got disbursements from the
VND30-trillion package and 105 other customers have had their applications
approved and are waiting to take out loans.
In HCMC,
Hoang Quan is developing its housing project
7 foreign bank branches to end operations in
Seven
branches of foreign banks and one foreign-owned financial leasing company are
finalizing procedures to terminate their operations in two biggest cities of
They are
the Ho Chi Minh City branch of Australia and New Zealand Banking Group Ltd
(ANZ), the HCMC branch of Hong Kong and Shanghai Banking Corp (HSBC), the
HCMC branch of Standard Chartered Bank, the HCMC branch of Shinhan Bank, the
HCMC and Hanoi branches of LaoVietBank, the HCMC branch of Credit Agricole SA
and financial leasing company ANZ V-Track, said the Economic Committee’s
report, citing data from the State Bank of Vietnam (SBV).
The SBV
has revoked the licenses and officially put an end to the operations of the
two branches in
Regarding
the activities, the number of credit institutions in operation, and the
reorganization, and dissolution of them, the report said the current banking
system is designed to supply efficient banking services and products to meet
the diverse needs of the economy.
The data
in the report said that the current system has 47 commercial banks, including
five state-owned commercial banks that have been equitized with the
government holding a controlling stake, 33 joint-stock commercial banks, four
joint venture banks, five banks with 100-percent foreign capital, two policy
banks, and 53 branches of foreign banks.
There
are also 28 non-credit institutions, one cooperative bank, 1,144 people's
credit funds and two microfinance institutions.
In
particular, commercial banks continue to play a dominant role in the whole
system, and local commercial banks still have an edge in its widespread
network across the country over foreign banks, said the report.
According
to SBV data, as shown in the report, in the period of 2011-2013, the number
of credit institutions decreased by 4 joint-stock commercial banks and 2
credit organizations, and three non-bank affiliates of foreign banks have
been converted from dependant to independent branches.
According
to data compiled and published by Reuters last month, the fully state-owned
banks in Vietnam included Agribank, Vietnam Development Bank, Vietnam Bank
for Social Policies, and Co-operative Bank of Vietnam with total assets worth
around VN1,180 trillion (US$55.4 billion)
Meanwhile,
Enterprises disappointed about slow administrative
reforms: VCCI
The
business community continues to express their disappointment over the slow
pace of reforming complicated tax and customs procedures, according to a
survey by the Vietnam Chamber of Industry and Commerce (VCCI).
The chamber
said despite recent efforts by the Ministry of Finance to simplify
administrative procedures on tax and customs, they were still holding back
the operations of companies.
Vo Tan
Thanh, Director of VCCI Ho Chi Minh City said that with their important role
in the economy, the tax and customs sectors should work out more practical
measures to support the business community during these hard times.
According
to official data,
Lien Son
Paper Company General Director Nguyen Thai Linh proposed that the Finance
Ministry conduct careful research before issuing decrees so that they are
relevant to the operations of businesses.
The
business community also called on the customs sector to improve their
infrastructure and increase their collaboration with other agencies so that
automated customs systems can be utilised effectively.
Deputy
Finance Minister Do Hoang Anh Tuan admitted that the formulation and
implementation of a number of policies were not appropriate and pledged to
refine legal documents as a top priority to remove difficulties for
enterprises.
Aquaculture in rice fields benefits Tien Giang farmers
The
combined rice paddy and fish pond farming model in Hau My Bac A commune, Cai
Be district in the Mekong Delta province of Tien Giang has proven effective,
providing a stable source of income and helping local farmers adapt to
floods.
Since
2011, Tien Giang has been implementing a five-year project to develop
infrastructure for the model in Hau My Bac A, which is located at the head of
the
He
explained that the project aims to help farmers adapt their production to
floods, adding that target localities are supported in building dyke and
drainage systems, as well as dredging canals, and upgrading the traffic
network.
According
to Dung, farmers participating in the project grow rice during the
winter-spring crop and raise freshwater fingerling on the same land for the
rest of the year. Approximately 900 million juvenile fish are provided to
target localities every year.
Au Van
On, a local farmer, said his family grows rice on 2.4ha of farmland in the
winter-spring crop and raises five or six broods of fingerling during the
remaining months.
This
livelihood strategy generates around 300 million VND (nearly 14,300 USD) a
year, meaning he can pocket more than 200 million VND (over 9,500 USD) after
deducting all expenses, he said.
Furthermore,
the model has helped local residents minimise the use of fertilisers and
pesticides in cultivating rice. Rotten hay, a by-product from rice cultivation,
is later used as fodder for fish, thus reducing environmental pollution, said
farmer Le Quoc Vu , who applies this model on one hectare of farmland and
earns over 100 million VND (over 4,700 USD) in net profit a year.
Vietnamese
market attracts Italian investors
A large
number of Italian business people, scholars and economists attended a
workshop on Vietnamese economy and investment climate which was held on
November 7- 8 in the southern Italian city of
Addressing
the function, Vu Viet Ngoan, Chairman of Vietnam’s National Financial
Supervisory Commission, laid emphasis on
Daniel
Kraus, Confidustria’s D eputy Director General, on his part, said
It was
revealed at the workshop that approximately 200 Italian businessmen from 140
companies will visit
In
October, Vietnamese timber exports earned 528 million USD, bringing total
timber exports in the first 10 months to 4.98 billion USD, a 12.8-percent
year-on-year increase.
A report
from the Ministry of Agriculture and Rural Development said timber exports to
three leading markets in the first 10 months of the year continued to
increase.
Export
turnover from the
The
three markets are the leading importers of Vietnamese timber this year,
providing 66.35 percent of the value of the country's total timber exports.
Chairman
of the Binh Duong Wood Processing Association, Huynh Quang Thanh, said the
rehabilitation of the world economy had opened new prospects for timber
processing enterprises.
In
recent years, enterprises had produced higher quality products that met the
requirements of choosy markets of Europe, the
The
markets have showed interest in Vietnamese wood products because of the
diverse designs they produced and sophisticated manufacturing.
Meanwhile,
the nation's imports in October reached 177 million USD, bringing total
imports in the first 10 months of the year to 1.9 billion USD, a 55.2-percent
year-on-year increase.
Timber
imports from
It is
expected that Vietnamese wood exports will reach 6.3 billion USD to 6.5
billion USD by the end of this year.
FTA
accelerates trade between Vietnam, Chile
Bilateral
trade between
These
figures were announced by the Vietnam-Chile Free Trade Council (VCFTA) at its
first meeting in
At the
event, the two sides agreed to create favorable conditions for goods from
both countries to access each other’s market.
The Free
Trade Agreement also entails bilateral cooperation in a number of fields,
such as personnel training, salmon farming, and mining technology.
The
statistics show that
From
2008-2013,
As much
as 20 percent of
Japan House a connecting centre for Japanese investors
in Vietnam
Japan
House, designated for the purpose of connecting Japanese investors with potential
Vietnamese partners, has just been launched in early November at the CEO
tower in
CEO
group’s board chairman Doan Van Binh (sixth from the left) and Yukio Yamada-
chairman and general director of Kume Sekkei (fourth from the left) with the
group’s Board of Directors cut the grand opening ribbon.
Japan
House is built under the model of shared office, acting as a connecting gate
between CEO group and Japanese partners, in particular, and an effective
investment channel between Vietnamese enterprises and Japanese partners in
general in order to promote the two countries’ investment and business
co-operation.
Its
total area is 440 square metres, encompassing 11 rooms, one meeting room and
an entertainment area, providing offices for lease, support services and
investment consultancy.
Support
services cover telecommunications, accounting, web design, domain name
registration, translation, interpretation, tourism, car rent, and more.
With a
wealth of experience in investment field, the CEO group offers consultancy
service for Japanese partners intended to invest in
The CEO
Group is an enterprise operating in the field of real estate, education and
training, and labour export.
Defining
Over
100 Italian firms to come knocking
A
business delegation comprising more than 100 Italian companies will visit
The
delegation led by a Deputy Minister of Foreign Affairs will also have
representatives of
Italian
Ambassador to Vietnam Lorenzo Angeloni told the Daily on the sidelines of a
media briefing held in
The
ambassador said Italian enterprises are taking prudent steps to invest in the
infrastructure sector in
Regarding
the health sector, Italian firms center on pharmaceutical distribution
medical equipment supply at a time when more major hospitals in the central
area of cities are being relocated to the suburban areas. In addition,
Since
2008, there have been a number of business forums for Italian and Vietnamese
enterprises to explore cooperation opportunities. More Italian businesses are
eyeing
Italian
Prime Minister Matteo Renzi visited
Angeloni
expected more European investors, including those from
First
Frontier and VPBank Securities (
First
Frontier Capital Limited and VPBank Securities Limited have recently entered into
a strategic cooperation agreement to promote foreign institutional investment
in
The
agreement with VPBS is a major step forward in implementing First Frontier’s
strategy of providing its clients with access to the fast growing frontier
and pre-frontier markets in
“I am
delighted to have signed a cooperation agreement with such a highly-regarded
firm as VPBS in the very important Vietnamese market. We at First Frontier
see a great opportunity in working with VPBS in the future servicing
international clients’ well established and growing interest in the
Vietnamese market,” said Nicholas Banszky, chairman of First Frontier.
Nguyen
Lam Dung, CEO of VPBS said, “Signing this agreement with First Frontier will
allow us to bring our research product to the attention of institutional
investors in the
First
Frontier is an independent London-based investment bank focussed on providing
institutional investors with a “one-stop-shop” in respect of the Frontier
Markets across the globe. They offer both research and execution in frontier
and pre-frontier markets.
VPBS,
founded in 2006, is a subsidiary of
As a
full service investment banking and brokerage firm, VPBS has won multiple
domestic and international awards for its debt capital markets and M&A
capabilities.
In
addition, VPBS has built one of the largest and most prolific research teams
in the country. VPBS provides clients with unbiased, perceptive and practical
ideas based on strategic thinking and deep market knowledge.
Agricultural
restructuring yet to bear good fruit
The
ultimate goal of restructuring the agriculture sector is to increase incomes
of farmers sustainably but this is still far from reach.
Experts told
a conference on the issue held in
Before
the agricultural restructuring scheme was approved by the Government on
October 16, 2013, many localities in the Mekong Delta region worked on
agricultural restructuring by building some new farming models like the
VND50-million-hectare and VND100-million-hectare fields. However, after a
period, these models ran into trouble.
In fact,
the rice farming model under GlobalGAP (good agricultural practice) between
My Thanh Agriculture Cooperative in
Commenting
on the case of ADC on the sidelines of the conference on agricultural
restructuring in combination with adaptation to climate change in the region,
a delegate told the Daily that the model failed as it was implemented by an
old way of thinking when the company did not plan farming and product
consumption simultaneously.
According
to experts, agricultural restructuring requires a close connection among
localities in the region.
Tran Huu
Hiep from the Southwest Steering Committee told the Daily that the Ministry
of Agriculture and Rural Development has formulated an agricultural
restructuring plan and 13 provinces in the delta region also have their own
plans. But the point is that regional connectivity must be enhanced and each
locality should not work on agricultural restructuring separately.
According
to Hiep, scientists and the Southwest Steering Committee have thought of
regional connectivity to promote prod8uction and consumption of the region’s
major products. However, such a plan has not been approved.
Meanwhile,
Professor Nguyen Ngoc Tran said State management has not kept up with the
actual demands and questioned if there is a lack of coordination among
fields, especially industry-trade and agriculture.
Tran
insisted agricultural restructuring must be a close connection between
agriculture (farming) and industry-trade (seeking consumption sources).
The
conference was part of the ongoing Mekong Delta Economic Cooperation Forum
2014 (MDEC) in
VND7.3
tril. loans for agriculture firms
Local
commerical banks have pledged to lend VND7.32 trillion to nearly 40
agriculture firms after three rounds of credit contract signing in line with
the Government’s pilot lending program to develop an agricultural value
chain.
Banks
and agriculture enterprises inked agreements on Wednesday as part of a
conference on the role of banks in agriculture restructuring and rural
development in the Mekong Delta with State Bank of
At the
first credit signing, the Vietnam Bank for Agriculture and Rural Development
(Agribank) and the Bank for Foreign Trade of Vietnam (Vietcombank) struck
deals to provide nearly VND350 billion in loans for four firms in An Giang
Province.
At the
second signing, six firms in Lam Dong, Nam Dinh, Can Tho, Dong Thap, and Nghe
An signed agreements to borrow VND2.37 trillion from banks.
Binh
said the lending program, developed in accordance with the Government’s
Resolution 4/NQ-CP dated March 5, 2014, is important to agricultural
restructuring and rural development.
The central
bank will help banks expand the pilot program so that more enterprises will
access loans, Binh said.
The
resolution states that borrowers of the program include firms already in
deals to join a chain of production, processing and consumption. Those recognized
by the Ministry of Agriculture and Rural Development as agriculture entities
active in hi-tech production can gain access to loans as well.
Borrowers
of the program also include farming households and cooperatives representing
farmers to sign contracts to help develop a production and consumption chain
for agricultural products with the enterprises approved by the central banks
and the ministry.
The
highest annual interest rate is 7% for short-term loans, 10% for medium-term
loans and 10.5% for long-term lending. Loan tenors are a matter between banks
and enterprises.
Banks
decide whether the loans they offer require collateral or not in accordance
with relevant laws. In case borrowers do not have enough assets for
collateral and the banks can manage cash flow in the production chain,
collateral may not be required.
The loan
value is decided by banks and enterprises, but must not exceed 70% of the
costs of enterprises’ projects.
The
pilot lending program is planned for two years. However, the enterprises are
approved to access loans with terms longer than two years can continue their
agreements with banks until the contracts fall due.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Tư, 12 tháng 11, 2014
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