Business

Former minister escapes death penalty over AVG scandal

Former minister of information and communications Nguyễn Bắc Son was sentenced to life imprisonment on Saturday morning in connection with the notorious AVG deal, a lighter punishment than the death penalty proposed for him previously.

Trade sector asked to strive for 300 bln USD from exports next year

Prime Minister Nguyen Xuan Phuc asked the industry and trade sector to strive for an export turnover of 300 billion USD next year during a conference held in Hanoi on December 27.

GDP growth in 2019 hits 7.02%, beyond the NA-set target

Vietnam continued to gain impressive result in 2019 with GDP growth rate of 7.02%, beyond the target of 6.6-6.8% set by the National Assembly, the General Statistics Office released.

Vietnam invests over US$500 million abroad in 2019

Vietnamese investors poured US$508.14 million worth of investment in foreign countries around the world in 2019, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Remittances to Vietnam in 2019 estimated at US$16.7 billion

Remittances sent home by Vietnamese expatriates in 2019 were estimated at US$16.7 billion, revealed a Vietnamese official, citing World Bank data.

Vietnam to exploit untapped potential in bird nest export

The Ministry of Agriculture and Rural Development met with southern bird nest companies to discuss measures to develop bird nest farming industry in the area.

Lotte Vietnam closes e-commerce site

Lotte Vietnam will shut down its e-commerce site lotte.vn in an effort to restructure its operations according to the company.

FDI inflow makes new 10-year record in 2019

Total inflows of foreign direct investment into Vietnam amounted to US$38.02 billion this year to December 20, a 10-year high, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Inflation rate to be kept at between 3.59 – 3.91 percent in 2020

Deputy Prime Minister Vuong Dinh Hue said that the economic growth in 2019 is certain to exceed 7 percent, which is much higher than the inflation rate of around 2.7 - 2.8 percent.

Highest New Year bonus in HCM City announced

A foreign-invested firm in HCM City has announced to offer New Year bonuses of up to VND3.5 billion (USD152,173) per person.

Tet air travel demand forecasted to rise 12% on-year

Air travel demand has been forecasted to grow by 12% on-year to 12 million passengers for the coming Tet, the Lunar New Year.

Vietnam to promote shrimp exports to EU next year

The EU is a potential market for Vietnam's shrimp industry next year because it is the largest shrimp market in the world, while the shrimp production of this bloc has not met its demand, according to domestic seafood experts.

Saudi, Kuwait to sign deal to resume joint oilfield output

Saudi Arabia and Kuwait will sign a deal on Tuesday to resume production at two major oilfields in a shared neutral zone after five years of stoppage.

ADB affirms economic growth potential of Vietnam

The Asian Development Bank has revised up its forecast of Vietnam’s GDP growth for 2019 and 20202 from 6.8 percent to 6.9 percent and 6.7 percent to 6.8 percent, respectively, in contrary with projections for Asia.

Government chief chats with business community

Under the theme “Developing strong enterprises – Integration, effectiveness, sustainability,” the conference between PM Nguyen Xuan Phuc and over 700,000 businessmen was opened on December 23 in Ha Noi.

Santa delivery services in high demand

Santa Claus delivery services are becoming extremely busy over the last few days.

Chung cake makers rush to buy pork as shortage continues

Chung cake makers in Hanoi are facing difficulties buying pork as demand increases for the Tet Holiday.

Moody's takes rating actions on 18 Vietnamese banks

Moody's Investors Service on Thursday took rating actions against 18 banks in Việt Nam, following its confirmation of Việt Nam's Ba3 sovereign rating and change of the sovereign rating outlook to negative a day earlier.

Amazon Global Selling to support Vietnamese merchants

Global e-commerce platform kicks off cross-border e-commerce in Vietnam.

Vietnamese women increase their 'power' in business: report

The proportion of women-owned businesses has tended to increase over recent years, from about 21% in 2011 to 24% in 2018, according to a survey report on private enterprises by the Vietnam Chamber of Commerce and Industry.

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