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PRESS DIGEST - Vietnam newspapers - Sept 13
September 13, 2012 / 2:10 AM / in 5 years

PRESS DIGEST - Vietnam newspapers - Sept 13

HANOI, Sept 13 (Reuters) - These are some of the leading stories in the official Vietnamese press on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL NEWS:

TUOI TRE

- Banks have been racing to raise dong funds while the recent surge in gold prices has made the investment in gold more profitable than placing funds in banks, bankers said.

THOI BAO KINH TE VIETNAM

- The central bank could soon slash interest rates by 1-2 percentage points to stimulate consumer demand in the rest of this year, economists said.

VIETNAM NEWS

- Banks will not achieve the central bank’s 8-10 percent credit growth target this year because of businesses’ large inventory which discourages them from getting loans, bankers and economists said.

ECONOMIC AND GENERAL NEWS:

VIETNAM NEWS

- The river water levels in the Mekong Delta are around 1 metre lower than the same period last year, said the Central Hydro-Meteorological Forecasting Centre. Farmers said the quantity of fish and other aquatic species caught is just 60 percent of the same period last year.

HANOI MOI

- The National Assembly’s finance and budget committee said it has suggested the State Audit to investigate three monopoly groups which have had large impacts on people’s life namely state oil and gas group Petrovietnam, state utility Vietnam Electricity and top fuel distributor Petrolimex in 2013.

THANH NIEN

- Prime Minister Nguyen Tan Dung has requested various authorities to advise their staff to avoid reading, using and circulating the information published in several blogs which are distorted and fabricated in order to raise suspicion and create bad public opinion about the Communist Party, the state and state leaders.

- Vietnam needs to keep at least three telecoms companies on its domestic market to ensure good competition, said Pham Hong Hai, head of the Information and Communications Ministry’s Telecommunications Department.

THOI BAO KINH TE VIETNAM

- Vietnam could soon achieve an annual target to export $15 billion worth of textiles and garments, after its eight-month turnover has risen 6 percent from a year ago to $10.8 billion, industry officials said. Textiles are Vietnam’s top cash earner.

- The number of small and medium-sized businesses in Vietnam will reach 600,000 by 2015, and they will account for 40 percent of the country’s gross domestic product while their exports will make up a quarter of the country’s total revenues, the government said in a plan.

- Vietnam’s power demand in September was estimated at 10.24 billion kilowatt hours, a 10.4 percent rise from the year before, state utility Vietnam Electricity said. (Reporting by Hanoi Newsroom; Editing by Anand Basu)

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