Business

Almost 700 firms lose export licences to US

The American Food and Drug Administration (FDA) has cancelled the import licences of 679 Vietnamese food and beverage manufactureres that did not re-register with the agency as required, or did so without following current procedures.

IMF says Asia facing risks from rise in protectionism

The International Monetary Fund said Asia's economic outlook faces "significant" uncertainty and downside growth risks from any sudden tightening in global financial conditions or rise in protectionist trade policies.

Thanh Hoa calls for investment of USD 5 billion for 50 projects

The north central coastal province of Thanh Hoa is calling for over USD5 billion in FDI and DDI to 50 projects by 2020 according to organiser of the Thanh Hoa Investment Promotion Conference.

Hanoi-Hai Phong Expressway investor grieves over lack of support

The investor in the Hanoi-Hai Phong Expressway, the Vietnam Infrastructure Development and Finance Investment JSC (VIDIFI), said they were incurring huge losses while the government support package is no where to be seen.

VCCI to propose five measures at meeting with PM

The Vietnam Chamber of Commerce and Industry will make five proposals to remove difficulties facing enterprises at a meeting with Prime Minister Nguyen Xuan Phuc.

Germany helps Vietnam expand wind power development

The project “Support to the Up-Scaling of Wind Power in Vietnam funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) was reviewed in a seminar in Hanoi on May 8.

Vietnamese start-up receives $1million fund from Singapore investor

Vietnam International Group has received a US$1 million fund from a Singapore-based investment fund World Gold Investments PTE. LTD.

Ministry of Finance orders crackdown on real estate projects

The Ministry of Finance has proposed to investigate the number of commercial areas that were converted from state-owned land.

FDI disbursement shows signs of slowdown

Vietnam’s foreign direct investment (FDI) disbursement in the first four months of 2017 was estimated at USD4.8 billion, up 3.2% on-year, however, this is quite low compared with 12% growth over the same period of 2016.

Games revenue expected at $1bn by 2027

Vietnam’s games industry is expected to see revenue of $1 billion by 2027, Mr. Le Hong Minh, CEO of VNG, told the Vietnam Games Summit on May 5, citing the burgeoning interest in games among young Vietnamese.

Vietnam’s ceramic producers to auction shares in Singapore

The Vietnam Glass and Ceramics for Construction Corporation (Viglacera) will put up shares for sale in Singapore on May 9 as part of the company’s plan to sell 120 million shares in its initial public offering (IPO).

Slow investment blamed for Hanoi metro delay

Many items of Cat Linh-Ha Dong metro project in Hanoi have not yet been finished on time due to the slow pace of investment by the contractors.

Weakness in Vietnam’s agricultural supply chains

The latest report from the World Bank on Vietnam’s agriculture supply chains shows the country is behind its neighbors in terms of supply chain operations and trade.

High hope puts on Ngoc Linh ginseng project

Quang Nam and Kon Tum Province have started a VND9trn (USD397m) project to grow and make Ngoc Linh ginseng a major product.

Starbucks opens first Starbucks Reserve Coffee Bar

Starbucks Vietnam has announced the opening of its first Starbucks Reserve Coffee Bar in Hanoi, on May 5.

Government reviews Q1 & 4M economic development

Credit growth in the first fourth months of the year rose to a six-year high of 4.89 per cent against 3 per cent a year ago, Prime Minister Nguyen Xuan Phuc told the monthly government meeting on May 4.

Kien Giang: WB-funded project helps change old farming practices

A World Bank-funded project has improved capacity of agricultural cooperatives in the Mekong Delta province of Kien Giang and helped change the farming practices of local farmers.

Japanese manufacturers view Vietnam as key destination

Japanese manufacturers regard Southeast Asia as the most important region for their business but are wary about labor shortages and pollution, according to a recent survey by Japan’s Mizuho Research Institute revealed to Nikkei.

Over 13,000 new firms set up in April: GSO

As many as 13,102 new enterprises were established in April, the highest figure in the past 12 months, representing a month-on-month rise of 8.9 percent, according to the General Statistics Office.

Plan for Cat Bi Airport’s second terminal approved

The Civil Aviation of Vietnam has approved a proposal by the Hai Phong People’s Committee to build the second terminal of Cat Bi Airport since the first terminal is projected to be soon overloaded.

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