Business

Vietnam’s stock market has been evaluated as a bright spot in the region in terms of growth speed and foreign capital absorption for years, according to Chairman of the State Securities Commission (SSC) Tran Van Dung.

The aviation sector served 38.5 million passengers in the first six months of this year, a year-on-year rise of 9.4 percent, according to the Civil Aviation Authority of Vietnam (CAAV).

Resident and non-resident foreigners in Vietnam are still permitted to make term deposits at local banks despite some banks saying they would not accept savings deposits from individual foreign customers, the State Bank of Vietnam has said.

Vietnam will become a leading digital country and economy in the ASEAN region by 2030 and allow testing of new technologies in the digital economy.

The competition in the Vietnamese finance and banking market has become fiercer as existing foreign institutions are rushing to increase capital even as new entrants continually join the market.

The Department of Crop Production has warned farmers about possible risks when growing Thai jack fruits without planning.

The northern province of Quang Ninh has planned to save its budget spending to carry out a VND9.8 trillion (USD417.7 million) undersea tunnel project in Ha Long City.

The growth forecast for Vietnam’s economy in 2019 has been upgraded to 6.96% from an earlier estimate of 6.56-6.81% by the Vietnam Institute for Economic and Policy Research (VEPR).

The development of solar and wind power projects has apparently overloaded the national power grid system, particularly in the two southern central provinces of Ninh Thuan and Binh Thuan.

The Project Management Unit under the Ministry of Transport organized a pre-selection bid process to select investors for seven of eight North-South Expressway projects in the form of public-private partnerships.

More than US$542 million of foreign capital was invested in the central city of Danang in the first half of this year.

The Hanoi Department of Planning and Investment has granted a business licence to Vinpearl Air Joint Stock Company, a member of Vingroup.

While various food and beverage chains continued to outperform and expand in the local market, supermarkets saw a great deal of consolidation, with the exit of French supermarket chain Auchan, who sold its portfolio to the locally-owned Saigon Co.op,

The Ministry of Transport has defended its proposal to spend USD58.7-billion on the North-South express railway project following the Ministry of Planning and Investment’s calculations that the cost would be less than half of this.

The number of non-cash payments in Vietnam has steeply risen so far this year.

Sectors which have seen high growth in the past few years such as wooden furniture, garments and textiles, seafood and steel are being placed under special supervision by the Ministry of Industry and Trade (MoIT) to avoid having high

Hanoi authorities have halted two metro projects under the form of public-private partnership (PPP) to wait for new regulations following the government’s on-going revision of its investment mechanism.

Hundreds of karaoke facilities which have been suspended still illegally operate in many districts in Hanoi.

Vingroup has planned to open an aviation training facilities after setting up their own airline, Vinpearl Air.