Business

The Vietnam Business Forum 2016 opened on December 5 in Hanoi focusing on strengthening the role of the private economic sector through fostering the partnership between domestic and foreign enterprises.

In the first eleven months of this year Vietnam welcomed over 9 million international tourists, a 25.4 per cent increase year-on-year and exceeding the initial 2016 target of 8.5 million, according to the General Statistics Office.

Vietnam has climbed up 14 ranks to number 73 in the Global Enabling Trade Index according to the latest World Economic Forum report.

Nguyen Van Than, chairman of the Vietnam Association of Small and Medium Enterprises, talks about the difficulties that small firms in Vietnam are facing including a turbulent market and challenging institutions.

Vietnam and New Zealand vowed to increase their two-way trade volume to $1.7 billion by 2020 as well as deepen their bilateral relations.

The outlook for the Asian steel industry for 2017 has been lowered to negative says US Moody’s Investors Service in a new report, as global prices of steel collapse across all grades and utilization weakens.

As many as 58% of private enterprises in Vietnam are not earning enough to pay taxes, which means the need for a stronger focus on making the private sector a driving force for the economy, an official said.

Moody’s has indicated that the outlook for the banking system in Vietnam is stable over the next 12-18 months, reflecting Moody's expectation that the country's macroeconomic stability.

Vietnamese agricultural products may lose their identity if the country does not start to register for intellectual property protection globally, heard a recent conference.

The Ministry of Finance has asked to temporarily stop customs clearance for BMW auto shipments imported into Vietnam except in cases of diplomatic immunity.

The Vietnamese government has just allowed US energy giant ExxonMobil to join in with the Vietnam National Oil and Gas Group in Ca Voi Xanh, the largest gas field found so far in the East Sea.

Vietnam advanced 14 places in the Enabling Trade Index of the World Economic Forum, now ranking 73rd out of 136 economies, according to the Global Enabling Trade Report.

The Ministry of Public Security is investigating into a case where workers at Ha Lam Coal JSC in Quang Ninh Province have accused company bosses of embezzling billions of VND by forcing employees to return bonus payments.

The State budget deficit in the first eleven months of this year stood at VND172.9 trillion ($7.6 billion), according to the latest figures from the General Statistics Office.

The plan to replace RON92 petrol with E5 bio-fuel is underway and is estimated to take effect from June next year.

The government has given in principle approval for Vietstar Airlines to provide passenger and cargo transport services.

On December 6, Vietnam's largest brewer Saigon Alcohol, Beer and Beverage Corporation (Sabeco) will be officially listed on the Ho Chi Minh City Stock Exchange, eight years after its initial public offering in January 2008.

Hanoi will take the lead in improving the business climate and supporting enterprises since their formation, Vice Chairman of the municipal People’s Committee Nguyen Doan Toan said at a dialogue between the city’s authorities and entrepreneurs on November 28.

Up to 10,400 Vietnamese enterprises have gone bankrupt between January and November this year, up 23.3% on-year, according to the General Statistics Office.