Business

Local authorities of the Central Highlands province of Lam Dong’s Dat Lat City have approved a plan that intends to see the city be transformed into Southeast Asia’s top vegetable producer.

State-owned groups and enterprises have brought back VNĐ6.84 trillion (US$301 million) to the State coffer during their divestment process in 2016, according to the Finance Ministry.

Deputy Prime Minister Phạm Bình Minh has agreed in principle to build an underground shopping centre in downtown HCM City along side the city’s first metro line project.

Deputy Prime Minister Vuong Dinh Hue has lauded the northern mountainous province of Thai Nguyen’s optimal conditions for tourism development, particularly Nui Coc lake and tea culture.

Commercial trade growth for the Asia Pacific Region slowed to 2.3% in 2015, far below the expectations of 2.7% that had been forecast, said the Asian Development Bank in a recently released report.

Vietnam still cannot take advantage of its 3,200 kilometers of coastline, 6,500 kilometers of rivers, 126 river ports, 2,300 passenger ports and 4,800 berths.

Vietnamese citizens may be allowed to enter a new casino at the Van Don Special Administrative-Economic Zone in northern Quang Ninh province on a trial basis.

The government will keep inflation below 5% in 2016, said Politburo member and Deputy Prime Minister Vuong Dinh Hue at the meeting of the National Steering Committee for Price Management in Hanoi.

Vietnam’s real estate market will continue to see stable development in the apartment segment with abundant supply in 2017, a conference in Hanoi on December 20 heard.

The number of newly-established firms set a record in 2016, reflecting improvement in business confidence, following the Government’s efforts to boost reform.

Danang Party Secretary Nguyen Xuan Anh said the plan to build the tunnel beneath the Han River had been agreed long ago and was now even more necessary.

The Asian Development Bank (ADB) on Wednesday signed an agreement to provide transaction advisory services to the Ministry of Transport (MOT) for Ho Chi Minh City Third Ring Road project.

The Ministry of Industry and Trade (MoIT) has conducted a review and is making preparations for imposing safeguard duties on steel imports, after 18 domestic steel manufacturers called for assistance.

The price of RON 92 petrol and E5 bio-fuel increased by 919 VND and 800 VND per litre respectively, on December 20.

A number of luxurious shopping centres in Vietnam are facing slow sales and even closing as they fail to meet customers' changing demand.

More than 5.2 million foreign tourists visited Ho Chi Minh City in 2016, a rise of 10% against last year, the Vietnam National Administration of Tourism has said.

A conference was held in Hanoi on December 20 to promote investment opportunities into the Hoa Lac Hi-Tech Park, seeking to develop its science and technology potential and to build it into an appealing destination for hi-tech investors.

Three economic growth scenarios for the country have been revealed by the National Centre for Socio-Economic Information and Forecast and the Ministry of Planning and Investment.

PM Nguyen Xuan Phuc has decided to grant a package of VND 50-60 trillion (US$ 2.3-2.76 billion) for high-tech farming with the most favorable and open lending mechanisms.