HCM CITY — Senior economists have outlined several ways to pump more money into the economy by settling banks' bad debt. Although the banking sector has had negative credit growth in the first four months of the year, commercial banks are still reluctant to lend because of fear of more bad debt. According to the National Financial Supervisory Committee, the banking sector's bad-debt ratio last year reached 3.3 per cent of all outstanding loans, compared to the 2010 figure of 2.14 per cent. Commercial banks have also said that bad debt rose during the first quarter of the year because many companies could not make payments due to the prolonged recession. Vietcombank's bad debt, for instance, increased from 2.03 per cent earlier the year to 2.87 per cent by March. The bank's credit growth fell by 0.6 per cent compared with the last quarter of 2011. In addition, Vietinbank's bad debt also rose to 1.85 per cent from 0.75 per cent in the first quarter of the year. Its credit growth … [Read more...] about Experts mull over banks’ bad debt problems
HCM CITY — Vietnamese and foreign experts last week gathered in HCM City to discuss sustainable architecture and building design that will help the country take advantage of alternative energies and better cope with climate change. Deputy Minister of Construction Nguyen Thanh Nghi told the two-day conference last Thursday that a clear roadmap was needed to adopt sustainable architecture and construction amid the process of urbanisation. Angela Brady, president of the Royal Institute of British Architecture, told Viet Nam News that the way forward for the country was to look back and learn from the past and build for the way its people live now based on its own technologies, lifestyles and what it wanted instead of copying from other countries. Viet Nam should approach sustainable architecture based on its national identity since it had a long cultural and historical heritage, she said. Sustainable architecture would help Viet Nam save energy by using renewable energies, she … [Read more...] about UK experts share experience in sustainable design, architecture
VietNamNet Bridge – The Ministry of Industry and Trade (MoIT) has proposed an adjustment of retail power prices sold to households, producers and traders. They have urged the Prime Minister, who will make the final decision, to impose a separate power price framework for the steel and cement production sectors, with prices liable to rise as much as 16 per cent from the current average. Viet Nam News reporters spoke to experts about the issue. What are the reasons behind the ministry's proposal? Will the new prices be applied as of July 1 as rumours have suggest? Deputy Minister of Industry and Trade Le Duong Quang: First, I would like to say that it is essential to have a step by step increase in power prices in Viet Nam. At the moment it's hard to promote energy efficiency and attract investors to the power sectors, because power companies are making losses. Having said this, the size and timing of price changes must be considered carefully. At this moment, MoIT … [Read more...] about Experts split over power price adjustment
Government officials and experts met yesterday to discuss ways to revitalise the property market through several measures, including resolving bad debts, adjusting land prices, and balancing supply and demand. Potential customers browse through real estate models in Hanoi Speaking at the seminar, Chris Brown, general manager of Cushman and Wakefield Vietnam, a leading commercial real estate consultant, said the number of non-performing loans was higher than the reported 6 per cent, and the real estate made up 70 per cent of the figure. The seminar, themed "Revitalising Vietnam's Property Market", was organised by the Vietnam Investment Review newspaper and Cushman & Wakefield Co. Brown noted that one of the biggest barriers to entry, and the single biggest factor in ensuring profitable property development, was the price of land. Vietnam's major cities have maintained higher prices than Singapore, he … [Read more...] about Property experts call for new approach
VietNamNet Bridge – Nanotechnology applications offer fresh hope for beleaguered shrimp farmers in the Cuu Long (Mekong) Delta provinces, experts said at workshops held in Ben Tre Province on Wednesday and in Bac Lieu Province on Friday. Farmers in the delta have suffered severe losses over the last several years as shrimps have been dying in larger numbers due to various diseases. Le Thi Liet, a farmer in Ben Tre Province's Binh Dai Town, said that shrimp farming has helped her family become wealthy over the last ten years. However, for the last two years, her farm has not been doing well. While the same breeding method has been applied, shrimps have been dying after 15-30 days, and she said she did not know why this was happening. She has lost nearly VND450 million (US$21,428) since the end of last year, Liet said. "I am very worried and confused about whether or not I should continue with shrimp farming," she said, adding that she has been seeking ways to improve the … [Read more...] about Can nanotech save dying shrimp farms?