PRESS DIGEST - Vietnam newspapers - May 8

HANOI, May 8 (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

-- Tien Phong Bank formed by the Corporation for Financing and Promoting Technology FPT.HM, Vietnam National Reinsurance Corporation VNR.HN and Vietnam Mobile Telecom Services Company, with registered capital of 1 trillion dong ($63 million), is the newest commercial bank licensed by the central bank.

-- Eximbank earned 96 billion dong ($6 million) in April profit, taking its total profit for the first four months of 2008 to 371 billion dong ($23.2 million).

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THOI BAO KINH TE VIETNAM

-- The Prime Minister approved an investment of 7 trillion dong ($438 million) to construct the My Ly hydroelectric plant in the central province of Nghe An.

-- The Ministry of Agriculture and Rural Development proposed a temporary suspension of fertiliser exports to secure domestic supply.

-- The State Securities Commission is considering a proposal by the Vietnam Association of Securities Business to cut stock trading fees to 0.02 percent of transaction value or scrap the fees.

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ECONOMIC AND GENERAL NEWS:

NHAN DAN

-- Exports of textile and garment products are expected to reach $9.8 billion this year, the Trade and Industry Ministry said.

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