Business

Total foreign direct investment (FDI) in Vietnam reached US$11 billion from the outset of the year, a year-on-year surge of nearly 41 percent, said the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).

Vietnam's sugar inventory reached a record high, with the figure mainly attributed to the flooding of illegally-imported sugar, according to the Vietnam Sugar Cane and Sugar Association.

The Japan International Co-operation Agency (JICA) will fund the extension of the Ben Thanh-Suoi Tien Metro in HCM City that will connect with Binh Duong and Dong Nai provinces.

Vietnam’s Auto Purchase Index (API) declined to 14.6 in the first quarter from 15.5 as consumers plan to delay purchases until 2018 when the ASEAN Free Trade Agreement eliminates tariffs on cars imported from the regional countries.

HCM City’s Ben Thanh-Suoi Tien metro line is facing a high risk of lagging behind schedule due to a shortage of capital.

Prime Minister Nguyen Xuan Phuc lauded Siemens AG’s cooperation with Vietnam in various fields during his reception in Hanoi on May 24 for Joe Kaeser, President and CEO of the German group.

Japan has replaced the US to become the Vietnam’s biggest shrimp importer in the first quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Deputy Prime Minister and Foreign Minister Pham Binh Minh reaffirmed the Vietnamese government’s commitment to welcoming foreign investors, including those from Spain, with all possible support at the opening of the Vietnam-Spain business forum in Madrid on May 24.

The General Department of Taxation has asked local authorities to carry out inspections at the foreign-owned retail stores in Vietnam.

Prime Minister Nguyen Xuan Phuc has approved the development of WHA Hemaraj 1 Industrial Park in Nghe An province’s Southeast Economic Zone.

The Asian Development Bank’s (ADB) Trade Finance Program (TFP) and two Vietnamese banks - An Binh Joint-Stock Bank (ABBANK) and Tien Phong Commercial Joint-Stock Bank (TPBank) on Wednesday signed agreements enabling the program to provide guarantees of up to

Hanoi and Ho Chi Minh City have been listed among 26 key cities in regard to hotel destinations in the Asia Pacific region, according to the latest report from JLL.

Australia is considering lifting its ban on the importation of Vietnamese shrimp and uncooked shelled shrimp, which has had a negative impact on Vietnam’s shrimp exports.

Minister of Industry and Trade Tran Tuan Anh has admitted that the local car industry has failed to achieve the set localisation rate.

The Vietnamese government will not revise its growth target for 2017, remaining determined to ensure the economy will grow by 6.7%, Deputy Prime Minister Truong Hoa Binh told the National Assembly on May 22.

Thanh Hoa Province have agreed a USD190m solar power project at a local industrial zone.

Australian-owned Gloria Jean’s Coffees recently decided to close its last store in Vietnam, ending a 10-year stint in Ho Chi Minh City and Hanoi due to slow expansion, high rents and an unsuitable business model.

Trade representatives of the 21 Pacific Rim countries, meeting this weekend in Hanoi, reaffirmed their commitment to support free and open trade and pledged to fight all forms of protectionism.

Trade ministers from the 21 Pacific Rim countries gathered during a major trade meeting on Saturday in Hà Nội to discuss future plans for regional trade co-operation amid growing fears of protectionism, as well as changes in politics, economies