Business

Vietnam and Russia have agreed to effectively implement the Vietnam-Eurasian Economic Union Free Trade Agreement in order to create breakthroughs in economic, trade and investment ties between the two countries, gearing towards bilateral trade of 10 billion USD in 2020.

Former Deputy Governor of the State Bank of Vietnam (SBV) Dang Thanh Binh has been prosecuted in relation to an economic crime worth 666 million USD at the Vietnam Construction Joint Stock Commercial Bank (VNCB).

The Ministry of Construction has proposed to the prime minister to give more funding to the National History Museum project which will cost a gigantic VND11.3 trillion (USD500 million).

Vietnam can move up global value chains with the help of higher value added activities and by boosting links between domestic firms and foreign markets and investors, according to two World Bank reports released on September 7.

Vietnam’s economy is well positioned for growth in international trade and will continue to experience high growth over the next three to five years, said Chief Executive Officer (CEO) of HSBC Vietnam, Pham Hong Hai.

A survey released at the Vietnam ICT Summit reveals that 35.2 per cent of organizations are ready for the fourth industrial revolution (Industry 4.0), with the majority being in banking and IT.

Authorities of Quang Ninh Province are seeking the government’s approval for 75 preferential policies and mechanisms for Van Don Special Administrative Economic Zone.

Head of the Party Central Committee’s Economic Commission Nguyen Van Binh joined top officials from 60 countries worldwide at the third Eastern Economic Forum (EEF) which opened in Vladivostok city on the Far East of Russia on September 6.

Minister of Agriculture and Rural Development Nguyễn Xuân Cường said efforts to attract investment in agriculture were not yielding sufficient fruit, urging authorities to focus on unbuckling bottlenecks to ease investment.

Director of Xuan Kien Automobile Joint Stock Company (Vinaxuki) Bui Ngoc Huyen claims the failure of Made in Vietnam cars was particularly due to capital difficulties.

Acknowledging its limitations and inadequacies, the State Bank of Vietnam said it will thoroughly implement all of the Prime Minister’s instructions by adopting solutions to enhance the quality and the efficiency of its operations while improving its inspections of

German car giant Volkswagen and its two Chinese joint-ventures will recall 1.82 million vehicles in China, the country's top consumer watchdog said Monday, in a new setback for the scandal-hit company.

The Middle East is not only a large market for Vietnamese agricultural products but a bridge to the European market, according to the Ministry of Agriculture and Rural Development.

As many as 12,404 new enterprises were set up in August with total capital of 131 trillion VND (5.76 billion USD), up 6.2 percent in volume and 39 percent in value, reported the General Statistics Office.

Prime Minister Nguyen Xuan Phuc attended a ceremony in the northern port city of Hai Phong on September 2 to start the construction of the first Vietnamese automobile manufacturing complex in Dinh Vu – Cat Hai economic zone.

PAN Food Manufacturing JSC (PAN Food) successfully acquired more than 50% of Bibica Corporation (Bibica)’s stakes, overtaking Lotte Confectionery Co., Ltd. (Lotte) as the biggest shareholder and turning Bibica into a subsidiary.

The Vietnam National Oil and Gas Group (PetroVietnam) has said it was co-operating with police on the investigation of deliberate violation of state regulations by five officials.

The Police Investigation Agency under the Ministry of Public Security on September 1 issued a decision to launch criminal proceedings against the suspected deliberately violation of State regulations causing serious consequences at the Vietnam National Oil and Gas Group (PetroVietnam).

Prime Minister Nguyen Xuan Phuc has requested to tackle violations and interest groups in build, operate and transfer projects which have raised public concerns over the past time.