Business

A Vietnamese company has successfully developed a real-time billing system (OCS) for telecommunication networks for the first time.

Firms are complaining that the Vietnam Northern Food Corporation and Southern Food Corporation are monopolising markets as they are banned from signing contracts prior to the giant businesses getting first option.

Prime Minister, Nguyen Xuan Phuc, has asked the largest southern economic hub of Ho Chi Minh City to create a favourable start-up environment for those with great willpower.

The State Bank of Vietnam’s transaction centre this week raised the reference buying rate for the US dollar by VNĐ50 to VNĐ22,725, revealing its intention to expand foreign reserves.

Hanoi, Danang and HCM City’s taxi associations have sent a joint petition to Prime Minister Nguyen Xuan Phuc, asking for him to intervene to guarantee a fair business environment.

The Ministry of Public Security’s Investigative Agency has decided to prosecute five former executives of the textile factory of the State-run giant, PetroVietnam, and a subsidiary, for causing considerable economic losses.

Vietnam expects to export USD3.3bn worth of cashews in 2017, USD200m higher than last year, according to the Vietnam Cashew Association.

Operating conditions in the manufacturing sector - Vietnam’s bedrock - point to ongoing growth, with output, employment, and new orders - both overall and overseas - continuing to expand, according to HSBC’s Vietnam at a Glance report for March

Fluffy, soft and easy to buy off the back of a bike: Vietnam's chicken feather dusters have ruled the roost for generations. But artisans fear for their future as buyers turn to cheaper alternatives.

Many taxi firms have quickly built and released mobile apps and software to improve their services and compete with Uber and Grab.

The price of RON 92 declined by 862 VND per litre to 16,504 VND (0.72 USD) from 3:00pm on June 20 as decided by the Ministry of Industry and Trade and the Ministry of Finance.

Vietnam produced 34.3 billion USD worth of cellphones and components for export in 2016, 99.8 percent of which, or 34.2 billion USD, made by FDI enterprises.

The country’s sole energy producer Electricity of Vietnam has proposed reducing its coal consumption for its thermo-power plants this year, which has raised concerns with coal producer Vinacomin about the possibility of major job losses.

Authorities in HCM City has issued a fine of VND1bn (USD44,000) and ordered to halt the construction of the Holm Residence project for various violations to no avail.

UPC Renewables Group and UK’s Kimin Power Company have reported on the feasibility of the wind power project in the southern province of Bac Lieu that the two companies are planning to invest in.

Australia has lifted the ban it imposed in January on uncooked Vietnamese shrimp products. Vietnamese companies may resume importing raw prawns caught in Australia for processing and export them to Australia for consumption.

TCC Group Chairman Charoen Sirivadhanabhakdi said he wanted Vietnamese government help to export products to Thailand during a meeting with Prime Minister Nguyen Xuan Phuc.

The Ho Chi Minh City market will mainly focus on the luxury segment in the 2017-2020 period according to a report by real estate services firm Jones Lang LaSalle Vietnam.

Vietnam’s economic growth this year will reach only 6.21 per cent, lower than the 6.68 per cent recorded in 2015 and the target of 6.3 per cent set by the government at its regular meeting in September 2016, the