OceanBank offers preferential interest rate

The program is designed for enterprises in sectors of agriculture production, export and other business sectors. Accordingly, the bank’s the most preferential lending interest rate of 16% per year will be offered for sectors of agriculture and export and the minimum lending interest rate of 17% per year is for other business and production fields.

Vietcombank to lower lending rate for exporters

Accordingly, the preferential lending interest rate of 17-19% per year will be offered to customers in sectors of production, export, agriculture and rural area. Particularly, customers subject to aforementioned borrowers in HCM City will enjoy the preferential lending interest rate of 16.5% per year. Exporters who use payment services via Vietcombank will be given the most preferential lending interest rate of only 16% per year. In addition, Vietcombank also set aside of four trillion dong to launch lending program for enterprises in the sectors of export of seafood and processing and export of wooden products whereby the preferential lending interest rate for this program will be only 16% per year.

Bad debt of Vietnam’s whole economy at 7-8pct: Bidv’s chairman

According to the representative of state-run enterprises, the bad debts of some banks are still higher than the average level of the entire banking system, of which, Vietnam Bank for Agriculture and Rural Development (Agribank)’s bad debt is 6.67% and Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB)’s bad debt is 3.47%. Notably, Agribank still posted low capital adequacy ratio (CAR).

Lending rate for production sector climbs to 20pct/yr

The lending rate for non-production sector also increased to 20-23 percent per year and it was 14.5-17 percent per year for agriculture and rural areas and export sector. The US dollar lending rate was commonly at 6-7.5 percent per annum for short terms and it was 7-8.5 percent per annum for medium and long terms.

Ho Chi Minh City to boost investment in Laos

The Lao PM said he welcomed the visit by the delegation from HCM City and highly appreciated the city’s effective investment in Laos. He expressed his hope that HCM City will accelerate investment in such fields as education, training, agriculture, health care, industry and culture in the near future.

Produce quality expected to improve with new controls

Food safety inspections would be carried out from point of origin to final destination based on international standards, said Deputy Director of the Ministry of Agriculture and Rural Development's Department of Agricultural, Forest and Aquatic Products Quality Control Department Phung Huu Hao. Management responsibilities would be clearly split between central and provincial levels, and each agricultural sector would have its own specific standards, he said at a workshop held yesterday to review food safety management in 2010 and to discuss the 2011 plan.

Wood product exports soar in month

Wood products exports in February totalled 200 million USD, bringing the exports value in the first two months of the year to 548 million USD– a surge of 17.6 percent over the same period last year – the Ministry of Agriculture and Rural Development announced.

Advertising Vietnam’s agricultural products in Japan

A delegation from the Ministry of Agriculture and Rural Development (MARD), led by Deputy Minister Ho Xuan Hung, had a working visit to Japan from March 1-4.

IFAD funds Vietnam’s agricultural development project

The funding, the largest that IFAD has given to Vietnam so far, will be used for the northern province of Tuyen Quang, the Central Highlands province of Gia Lai and the southern province of Ninh Thuan in the 2011-15 period. IFAD President Kanayo F. Nwanze, who visited Vietnam last November, spoke highly of what the Vietnamese government has gained in agriculture and rural development, describing Vietnam as an excellent model for developing countries.

Value of farm exports expected to rise

Figures from the Ministry of Agriculture and Rural Development show that Viet Nam's exports of agricultural, forestry and aquacultural products last year gained high value due to high prices and stable markets. The global economy would continue recovering, the ministry expects, and the export demand for agricultural, forestry and aquacultural products would increase.

Key farm produces for export in 2011

According to the Ministry of Agriculture and Rural Development (MARD), Việt Nam’s rice output may reach nearly 40 million tons in 2011, which means that the country’s rice export volume would stand at around 5.5- 6.1 million tons compared to 6.8 million tons last year. Meanwhile, export turnover of aquaculture will continue rising with expected value of approximately US $5.5 billion this year, or an increase of US $500 million against 2010.

Reservoirs opened for drought-hit farmers

Deputy general director of Electricity of Viet Nam (EVN) Dang Hoang An said on Monday afternoon that the company had complied with a request from the Ministry of Agriculture and Rural Development (MARD) to make two releases of water from its reservoirs at the end of this month and in February to save crops. Deputy director of MARD's Irrigation Department Dang Duy Hien said that the survival of two-thirds of the rice crop under plantation in the north and north centre of the nation depended on water from the reservoirs.

PM opts for new system of flood control in Ha Noi

According to the Ministry of Agriculture and Rural Development, the specialised zones were originally located in desolate areas, but these places are now occupied and used for production. The new system would relieve problems that were affecting economic development and causing environmental pollution. According to the Government plan, Hong River flood flows should be kept below 28,000 cubic metres per second at Son Tay Gauging Station, and below 20,000 cubic metres per second at the Ha Noi Gauging Station to protect the safety of the capital city and the region.

Vietnam to continue exploiting farm produce exports in 2011

The forecasts are from the Ministry of Agriculture and Rural Development (MARD) latest report on the farm produce market and Vietnam’s key export items in 2011. Quoting the forecasts of the US Department of Agriculture (USDA),global rice consumption in 2010-2011 will increase by 420,000 tons, reaching 453 million tons. Meanwhile, the global rice trade in 2011 is expected to reach 30.3 million tons, an increase of percent over the last year.

Vietnam attends India’s North East Summit

The summit, which ended on Jan. 22, discussed issues related to the Indian government’s development strategies for its northeastern region which has a great tourism and economic potential, especially in mining, infrastructure, agriculture, and food processing.

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