April 15, 2013 / 2:18 AM / 4 years ago

PRESS DIGEST - Vietnam - April 15

2 Min Read

HANOI, April 15 (Reuters) - These are some of the leading stories in the official Vietnamese press on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

Financial News:

Thoi Bao Kinh Te Vietnam

-- Hanoi-based VietinBank said it would issue new shares to Bank of Tokyo-Mitsubishi UFJ (BTMU) in the second quarter of this year as part of a plan to raise the Vietnamese lender's registered capital to 32.66 trillion dong ($1.6 billion). BTMU would own 19.73 percent of the Vietnamese bank.

Vietnam Investment Review

-- The central bank's use of credit growth cap for each bank seems unnecessary due to the low lending growth of the banking system, several bankers said.

Economic and General News:

Thoi Bao Kinh Te Vietnam

-- Partly private Techcombank projected its 2013 gross profit to rise 52 percent from 2012 to 1.54 trillion dong ($74 million), while total assets would increase 8 percent to 194.99 trillion dong.

-- The National Assembly's Standing Committee will discuss proposals by the finance ministry to cut the corporate income tax rate to 23 percent from Jan. 1, 2014 while there are also views that the tax should be 20 percent, Deputy Finance Minister Vu Thi Mai said.

Dau Tu

-- Ho Chi Minh City's economic growth target for the 2011-2015 period has been lowered to between 10 percent and 10.5 percent on average, from 12 percent, following a resolution reached by the city's Communist Party chapter.

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