Business

The General Department of Vietnam Customs have reported that trade between the US and Vietnam increased by 43.5 times between 2000 and 2016 with turnover rising from USD1.08bn to USD47.15bn.

Foreign investors posted a net buy value of 9.2 trillion VND (408.9 million USD) in the first half of 2017, beating the record 8 trillion VND made in the first seven months of 2008.

Hoteliers are attracted by Vietnamese rapidly growing tourism sector, robust economic development and infrastructure investments, real estate consultancy Jones Lang LaSalle said in a recent report.

HCM City authorities are seeking prime ministerial approval for the selection of state-owned HCM City Financial Investment Company (HFIC) as investor in the municipal financial centre.

Deputy Minister of Industry and Trade Hoang Quoc Vuong said the government might allow the Vietnam Oil and Gas Group to agree to bankruptcy proceedings for some of its projects.

More than 100 Vietnamese startups and technology students met with Ms. Amy Kunrojpanya, Director of Public Policy & Communications, Asia Pacific, at Uber, on “Building a Reputation for Startups” in Hanoi on July 7.

Several economists and commentators have said that Vietnam needs increased administrative reform and investment in other sectors to boost GDP as oil is not a sustainable answer.

Hanoi police are seeking the Ministry of Public Security’s approval for prosecuting Muong Thanh Group for a range of violations in its real estate projects.

Prime Minister Nguyen Xuan Phuc had a dialogue with leading German businesses operating in various fields such as information-technology, finance, healthcare, agriculture, and hi-tech industry in Berlin in July 6.

Vietnam aims to export four million tonnes of rice by 2030, pursuant to a strategy for developing the country’s rice export market in the 2017-20 period with a vision to 2030.

Deputy Prime Minister Vuong Dinh Hue has ordered responsible ministries and enterprises to resolutely handle prolonged loss-making projects in line with market mechanisms while reaffirming that the State would not pump money into inefficient projects.

The Ministry of Industry and Trade has been seeking the government’s help for the payment of a USD162-million loan for Vietnam National Chemical Group provided by China Eximbank.

Vietnam International Bank officially announced the acquisition of the Ho Chi Minh City branch of the Commonwealth Bank of Australia. CBA is also a strategic shareholder of VIB.

The South Korean Government’s Economic Development Cooperation Fund (EDCF) will provide a loan $100 million for Vietnam to build or renovate 22 bridges around the country.

Vietnam’s export turnover is likely to hit 195 billion USD this year, up 10-11 percent compared with 2016, according to the Ministry of Industry and Trade.

The target of keeping the country’s inflation below 4 per cent in 2017 is quite feasible, said Deputy Prime Minister Vương Đình Huệ at a meeting late last week.

The Vietnam Motor Show 2017 (VMS 2017) will be held from August 1 to 5 in Ho Chi Minh City.

China is importing 46.5% of Vietnam's rice, a huge increase from the previous 35-36% seen in previous years.

Vietnam’s e-commerce may be one of the world’s fastest-growing markets, but the country’s customers are also among the most demanding.