Business

Local equitisation, divestment fall short of target: MoF

The State has received VNĐ5.8 trillion (US$256.5 million) from the divestment of State capital in local enterprises in the first eight months of this year, it was announced by the Department of Corporate Finance under the Ministry of Finance (MoF).

Allied Telesis to invest in Saigon Silicon City

It has been unveiled that Allied Telesis signed an agreement on September 9 committing to jointly provide US$50 million of foreign direct investment in Saigon Silicon City.

Foreign sales reached assigned limit

One year after foreigners were permitted to buy houses in Vietnam, many real estate projects have reached their foreign sales limit of 30 per cent.

Associations eat up subsidies

Vietnam has spent VND14 trillion (USD630 million) on subsidising national associations and unions since the beginning of this year, but much of the spending has proved ineffective said a local expert.

Real estate developments abandoned in capital

Despite high demand, and swathes of poor quality and over-priced housing in the city, in the west of Hanoi is a supposed luxury residential area with hundreds of houses, which has become a ghost town as no one moved

Court hands down 30 year sentence to former bank executive

The HCM City People’s Court has upheld a 30-year prison sentence for Phạm Công Danh, a former bank executive, for his wrongdoings and violations of banking rules.

Binh Thuan resort projects left idle

Up to 12 resort projects along Ke Ga Beach in the southern central province of Binh Thuan have been left abandoned for more than 10 years due to continual policy changes by local authorities and the central government.

Man gets seven years in jail for extorting drink producer

The HCM City People's Supreme Court upheld the seven-year jail sentence for a man for extorting money from a local beverage maker.

Concerns over huge new coastal steel project

A steel project in south-central province of Ninh Thuan is facing public scepticism due to the recent mass fish deaths caused by Formosa’s pollution incident.

Dung Quat receives additional incentives

The government has agreed to provide additional incentives to the State-owned Binh Son Refining and Petrochemical Company Limited regarding tax reductions and giving it financial autonomy.

Japan provides 11 billion JPY loan for Vietnam

The Japanese Government will provide the Vietnamese Government with an 11 billion JPY loan in the 2016 fiscal year to help improve socio-economic infrastructure and the competitiveness of the national economy.

Petrolimex investigated for wrongdoings

The government inspectorate has uncovered various wrongdoings at the Vietnam National Petroleum Group (Petrolimex) and a member company.

Budget deficit to expand over remaining months

The pressure on the budget deficit will likely increase in the remaining months of this year due to the anticipated rapid rise of investments in capital construction.

Vietnam to buy 40 Airbus planes

Vietnam will buy 40 Airbus planes worth USD 6.5 billion following an agreement signed between several Vietnamese and French airlines this morning, September 6, in Hanoi.

Dong Nai struggles with abandoned projects

Dozens of FDI projects being abandoned in Dong Nai Province, causing concern about Vietnam's FDI project management capacity.

HCM City considers Tan Son Nhat flyover

The Transport Department in HCM City has said it is considering to build a five-kilometre flyover which would run from Truong Son Road to Tan Son Nhat International Airport.

Fuel prices gain over 700 VND per litre

The prices of RON 92 petrol and bio-fuel E5 were raised 702 VND (0.31 USD) and 611 VND 0.27 USD) per liter from 3:00 pm on September 5.

Moody’s: Domestic demand supports Vietnam’s growth outlook

Vietnam’s (B1 stable) credit profile is supported by its robust economic growth and diversified economy, Moody’s Investors Service said.

Vietnamese fruit loses market share at home

In Hanoi, imported fruit is priced reasonably and sells well. For example, apples imported from the US and New Zealand are only VND56,000 to VND70,000 ($2.5-3) per kilo.

EAEU-Vietnam FTA confirmed to take effect in October

The free trade agreement between the Eurasian Economic Union and Vietnam will take effect on October 5, Minister for Trade at the Eurasian Economic Commission Board Veronika Nikishina has said.

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