Specifically, the State Bank of Vietnam is requested to instruct commercial banks to continue supplying capital to cement projects that they have signed credit contracts with so that these projects can be completed and put into operation in 2008 and 2009. The State Bank of Vietnam has approved the purchase of 5% stake of the Phuong Nam (Southern) Commercial Joint Stock Bank by the United Oversea Bank (UOB) of Singapore, its foreign strategic shareholder. Singapore?s United Overseas Bank Group (UOB) is planning to increase its stake in HCM-based Southern Bank from 10 per cent to 15 per cent after receiving approval from the State Bank of Viet Nam. Meanwhile, Overseas Chinese Banking Corp owns a 15 per cent stake in VP Bank; HSBC owns a 15 per cent stake in Techcombank; Standard Chartered Bank has a 15 per cent stake in Asia Commercial Bank, MayBank a similar stake in ABBank and Generale Societe has a 15 per cent holding in SeABank. Petrol Viet Nam in association with two joint venture companies (Vu Han Designing Company and China Import-Export Company) began construction of Ca Mau Fertilizer Plant. General Manager of Petrol Viet Nam, Mr Tran Ngoc Canh said that this project is a part of its large-scale project named ?Ca Mau Gas-Power ?” Fertilizer? invested by Petrol Viet Nam. read more

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