Oct 4 (Reuters) – These are some of the leading stories in the official Vietnamese press on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
THOI BAO KINH TE VIETNAM
— Thai Hoa Vietnam Group Joint Stock Co , a leading coffee exporter, has been approved to issue 45 million new shares, valued at 422.5 billion dong ($20.28 million).
— The privatisation of power plants under Petrovietnam has stalled because state utility Vietnam Electricity has not paid its liabilities from power purchases totalling 10 trillion dong ($480 million), Tran Quoc Viet, head of the Petrovietnam’s planning department said.
— The central bank, the Industry and Trade Ministry and the Finance Ministry have launched a national trial credit insurance program for 2011-2013 under which 23 commodities groups will receive export credit guarantees to minimise risks for exporters.
— The central bank may allow several banks and gold trading companies to trade on account to help narrow the gap between domestic and world gold prices, a source said.
— Gold imports totaled $600 million in September, four times higher than in the same month last year. The value of gold imports from the beginning of the year has reached is $1.5 billion, according to the import-export department of the Ministry of Trade and Industry.
— The gap between the lending and deposit rates has remained as high as 5 percent to 6 percent, which is much higher than an acceptable level of 3-3.5 percent, said Nguyen Van Thuan, dean of the Ho Chi Minh City Open University’s finance and banking department.
ECONOMIC AND GENERAL NEWS:
QUAN DOI NHAN DAN
— Rice exporters shipped 5.88 million tonnes of the grain, yielding $2.8 billion, in the first nine months of the year, said the Vietnam Food Association.
— State utility Vietnam Electricity will ensure sufficient power supply in the last three months of the year, said deputy chief executive officer Nguyen Tan Loc.
— Uzbekistan should complete procedures so that its national oil and gas company and Petrovietnam can sign an agreement on oil and gas cooperation in the Bukhara Khiva area soon, Prime Minister Nguyen Tan Dung said.
THOI BAO KINH TE VIETNAM
— The value of trade between Vietnam and Germany is forecast to hit $5 billion this year, the Vietnam-German Friendship Association said.
— Vietnam’s power output and imports in the fourth quarter are expected to total 27.3 billion kilowatt hours, which would bring the year’s total to 107 billion kilowatt hours, Nguyen Tan Loc, Deputy Chief Executive of the state utility Vietnam Electricity said.