September 11, 2013 / 1:35 AM / 4 years ago

PRESS DIGEST-Vietnam - Sept 11

HANOI, Sept 11 (Reuters) - These are some of the leading stories in the official Vietnamese press on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.


-- Dairy product maker Vinamilk opened a $115 million factory in the southern province of Binh Duong on Tuesday, which a company executive said was expected to make the firm one of the world’s 50 largest companies, with annual revenues reaching $3 billion in 2017.


-- LG Electronics has secured a licence to invest $1.5 billion in an electronic products manufacturing complex in the northern port city of Haiphong, according to the municipal authority. The complex is scheduled to start operation in September 2015.


-- The Vietnam Asset Management Company will trade bad debts in Vietnamese banks as of Sept. 15, following a State Bank of Vietnam circular guiding details of the firm’s operation.


-- Hanoi-based Vietcombank said its total loans at the end of August were 2.8 percent higher than at the end of 2012, mainly due to a rise in corporate demand for funds last month. The bank had a negative credit growth of 1.47 percent in the first half of this year against end-2012. (Compiled by Hanoi Newsroom; Editing by Sunil Nair)

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