PRESS DIGEST - Vietnam newspapers - May 15
HANOI, May 15 (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.
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FINANCIAL NEWS:
TUOI TRE
-- The Vietnam Association of Financial Investors has proposed the central bank to allow commercial banks to sell a maximum 5 percent of their registered capital to foreign investors without permission.
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THANH NIEN
-- Bank loans in Vietnam have been expensive, with rates of 1.5 percent to 1.6 percent per month while borrowers also complained they have to pay extra fees of up to 4.8 percent in order to secure a loan.
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THOI BAO KINH TE VIETNAM
-- Oversea-Chinese Banking Corporation (OCBC.SI), a Singapore's third-biggest bank, would raise its stake at VP Bank to 15 percent from 10 percent.
-- State-owned Vietnam Infrastructure Development and Financial Investment Corporation has signed a credit contract with the Vietnam Development Bank over a loan of 21.6 trillion dong ($1.35 billion) to build a highway linking Hanoi and the northern port city of Haiphong.
-- State shipbuilder Vinashin said it would invest 3.8 trillion dong ($237 million) in an industrial and urban zone in the southern province of Dong Thap.
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ECONOMIC AND GENERAL NEWS:
VIETNAM NEWS
-- Vietnam is facing shortages of several types of paper despite increases in imports and domestic production, industry experts said.
-- India has started an anti-dumping investigation against certain types of textiles imported from China, Thailand and Vietnam, Vietnam's Industry and Trade Ministry said.
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THANH NIEN
-- Five foreigners have been detained in the northern province of Quang Ninh on accusation of trafficking 8.8 tonnes of cannabis resin with an estimated street value of $90 million.
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THOI BAO KINH TE VIETNAM
-- Mekong Delta's average paddy yield could rise to 6-7 million tonnes per hectare from 4.8 million tonnes now if Vietnam improves cultivation technology and restructure production, said Bui Chi Buu, director of the Agricultural Science Institute for the Southern Region.
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