Business

The central province of Quảng Ngãi expects to collect a total of VNĐ12.1 trillion (US$530 million) in State budget revenue this year, the People’s Committee said.

Around 81,000 people in HCM City need accommodation each year in the 2016-2020 period as the city continues to attract people from the countryside, according to the HCM City Real Estate Association.

Shares of the VietJet Aviation Joint Stock Company (VietJet Air) will be officially listed on the Ho Chi Minh Stock Exchange (HOSE) on February 28.

Vietnam plans to invest in its transport infrastructure comprehensively while linking development strategies among sectors in order to develop a multi-modal transport environment, making the country the gateway connecting Southeast Asia to the Indian Ocean.

The second meeting between Prime Minister Nguyen Xuan Phuc and the Vietnamese business community is due at the end of March in Ha Noi.

Chinese investment into Vietnam has been on a sharp rise, putting the country among the top ten foreign investors in Vietnam.

The Ministry of Transport has changed plans for the north-south highway project due to capital shortages. Only around 600km of the total route will be built first.

Several ministries and experts have asked the Ministry of Finance to reconsider its proposed environmental tax rise on petrol.

The Electricity of Vietnam (EVN) will continue to hold a monopoly on power distribution and retail sale through the management and control of power distribution and retail trade companies in the form of one-member limited liability companies.

The State-run Vietnam Computerized Lottery Co. Ltd. (Vietlott) recently announced its preliminary report on the business results for the 2016 fiscal year.

Prime Minister Nguyen Xuan Phuc has urged ministries and agencies to improve the country’s business environment so that it can be equal to Thailand and Singapore by the end of this year.

The Ministry of Industry and Trade has recently submitted a list of seven additional loss-making projects to the government, raising the ministry’s total number of failing projects to 12.

CBRE Vietnam has launched a CBRE Hotels Vietnam team to serve institutional owners, investors, and developers in the hotel and leisure sector.

Vietnam will be the 20th largest economy with GDP of USD3.17trn by 2050, according to a recent report by the business consultancy firm PricewaterhouseCoopers.

The Bank for Foreign Trade of Vietnam (Vietcombank) has been named among the 55 country winners of Best Treasury and Cash Management Banks and Providers by the Global Finance magazine, a representative of the bank announced.

The Australian Department of Agriculture and Water Resources has loosened its temporary suspension of the import of uncooked prawns and related products.

Vietnam is planning to send 105,000 people to work overseas this year, further expand the labour export market and co-operation with other countries.

The Hoa Phat Group (HPG) has officially announced the establishment of the Hoa Phat Dung Quat Joint Stock Company with a charter capital of VND10 trillion ($440 million). It specializes in iron and steel production, iron ore, metal, and

State Capital Investment Corporation currently holds stakes in 146 businesses. Its chairman Nguyen Duc Chi shares with VIR the company (SCIC)’s major tasks set for 2017.