Business

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.

The rate of workers returning to work at industrial zones after Tet Holiday have increased sharply.

Vehicle sales are forecasted to drastically fall in 2017 as customers await lower prices in 2018 when tariffs on car imports from ASEAN countries will be fully removed.

While it can’t be ruled out that the Trans-Pacific Partnership members might eventually revive the agreement in an alternative configuration, it doesn’t seem probable at this time, HSBC wrote in its latest report.

Secretary of HCM City’s Party Committee Dinh La Thang urged the city's stock exchange to accompany the city’s key development programmes to turn HCM City into a leading financial centre for the country and the region.

PM Nguyen Xuan Phuc asked the Ministry of Agriculture and Rural Development to set the target of raising the shrimp export value to US$10 billion by 2025.

Vietnam attracted a total foreign direct investment (FDI) of USD1.42 billion in January, up 6.6% on-year, according to the Ministry of Planning and Investment (MPI).

Many people in Hanoi rushed to buy gold on God of Wealth Day, the 10th day of the Lunar New Year.

With the country’s rice exports set to experience another difficult year in 2017, tourism and foreign-direct-investment (FDI) are looking be the sectors to lift Vietnam’s economy.