More investments in infrastructure are needed to support continued growth in Asia and the Pacific and combat climate change, Asian Development Bank (ADB) President Takehiko Nakao said Saturday in his opening address at the 50th Annual Meeting of ADB’s Board of Governors in Japan. More investments in infrastructure are needed to support continued growth in Asia and the Pacific and combat climate change, Asian Development Bank (ADB) President Takehiko Nakao said Saturday in his opening address at the 50th Annual Meeting of ADB’s Board of Governors in Japan. Investment in infrastructure, he said, will remain a priority for ADB as the bank prepares a new long-term strategy to respond to rapid regional changes. ADB’s Annual Meeting, which runs from May 6 to 7, hosts about 6,000 government officials, academics, business officers, civil society representatives, and members of the media. A delegation of Vietnamese leaders and officials led by Vice-Governor of the State … [Read more...] about Infrastructure development key to Asia’s long-term growth: ADB
Power development board bangladesh
BUSINESS IN BRIEF 4/8
US dollar lending back in fashion Dollar lending has sharply risen in recent months in the face of high dong lending rates and a stable exchange rate. For example, Ut Xi Seafood Processing Joint Stock Company’s deputy general director Nguyen Tuan Anh said the firm sourced dollar loans from state-owned Agribank with a 4 per cent, per year interest rate. “If we had dong lending, the negotiable interest rates might be 20-22 per cent per year,” Anh said. High dong lending rates made scores of firms to turn to using dollars. Banks have also been eager to meet demand as dong loan demand drops. Ho Chi Minh City State Bank branch statistics show that city-based banks took VND819 trillion ($3.95 billion) in deposits by late June 2011, up 1.58 per cent against late 2010. Lending amount also hiked considerably 6.67 per cent in the first six months against late 2010. Particularly, dong lending surged 2.14 per cent and dollar lending soared 18.7 per … [Read more...] about BUSINESS IN BRIEF 4/8
BUSINESS IN BRIEF 3/8
Parking lot investors face endless rhetoric Though there is much rhetoric flowing from authorities in Ho Chi Minh City encouraging and pledging support to investors for constructing traffic parking lots, there is not much by way of action. Over the last ten years, city authorities have twice issued regulations relating to construction of parking lots. Initially it issued a decision in 2006, calling on investors to build parking lots and later revised it in 2010 with added incentive of interest free assistance. The Government also promulgated a decision in 2009 to exempt rent for public transport companies who would build parking areas and automobile repair stations. Duong Hong Thanh, deputy director of the Department of Transport said that the city has only one parking lot as a consequence of these policies, but now the investor has little interest in running the parking space and wants to sell it to repay outstanding bank loans. Nguyen Thi Dung, director of … [Read more...] about BUSINESS IN BRIEF 3/8
VCCI: Promoting Business Community Development
VCCI: Promoting Business Community Development With its outstanding achievements in operations from 2009 to 2013 and its contributions to the cause of socialist construction and defence of the country, the Vietnam Chamber of Commerce and Industry (VCCI) is bestowed the First-class Labour Order by the State President. On this occasion, Vietnam Business Forum has an interview with Dr Vu Tien Loc, VCCI President, on this event. Lan Anh reports. After more than 51 years of construction and development, VCCI has now become a powerful organisation with over 100,000 members and its units are very strong. Could you tell us more about this development? VCCI is a national agency assembling and representing the business community, employers and business associations in Vietnam with the purpose of developing, protecting and supporting businesses, contributing to national socio-economic development, promoting economic, commercial, scientific and technological cooperation between Vietnam and … [Read more...] about VCCI: Promoting Business Community Development
BUSINESS IN BRIEF 1/3
ASEAN Business Forum opens in Bangkok Nearly 600 entrepreneurs and investors from throughout Southeast Asia and the world attended the ASEAN Business Forum 2013 which opened in Bangkok on February 27. The forum entitled “Challenges and Priorities towards AEC 2015: Capturing the value within”, will contribute to improving awareness about the ASEAN Economic Community (AEC) and the competitive edge for ASEAN members, especially Thailand. ASEAN Secretary General Le Luong Minh said that ASEAN is in the process of establishing a common community by 2015 based on the three pillars of political security, economics and culture, with the emphasis on economics. The establishment of the AEC will contribute to ensuring the success of ASEAN’s integration process. Currently, ASEAN is successfully implementing the planned stages of building the AEC. However, there is much to be done and ASEAN member states should double efforts to ensure that the AEC is essentially … [Read more...] about BUSINESS IN BRIEF 1/3