Business

The Dung Quat Bio Ethanol Plant owned by the Vietnam National Oil and Gas Group (PetroVietnam) has ceased operations after racking up debts with three local banks.

The Ministry of Natural Resources and Environment (MoNRE) will conduct an inspection of the large Nui Phao mine in northern Thai Nguyen province in August after claims of environmental pollution were made.

The Vietnamese Ministry of Health has fined Coca Cola Beverages Vietnam Ltd. USD19,000 for violations in the production of food supplements.

Foreign direct investment (FDI) registered in Vietnam in the first seven months of this year has risen a significant 47 per cent to almost US$12.9 billion, according to the General Statistics Office.

The Vietnam CEO Summit 2016 kicked off in Hanoi on July 27, with the participation of representative from the 350 most powerful enterprises in Vietnam.

Economic experts have suggested Vietnam thoroughly assess the impacts that the Vietnam-Eurasian Economic Union (EAEU) free trade agreement (FTA) may exert on specific sectors and markets, in a bid to fully enjoy the benefits brought about by the pact.

Vietnam and Cambodia have inked a Memorandum of Understanding on building a model border market in Cambodia.

Nguyen Thanh Son, former head of the Red River Delta Coal Project Management Unit, has said the Formosa Group should not be allowed to operate for 70 years in Vietnam as they would not have a major economic impact.

Deputy PM Truong Hoa Binh has instructed the Government Inspectorate to probe into the capital adjustment for a water supply project for Vung Ang Economic Zone in Ha Tinh Province.

The Vietnam Automobile Association has proposed to carry out an inspection into all BOT projects after discovering that investor in the Phap Van-Cau Gie Expressway lied about their revenue.

The Ministry of Industry and Trade (MoIT) is considering proposing the government cease the development of a pulp paper plant in the Mekong Delta’s Hau Giang province.

Foreign direct investment (FDI) registered in HCM City has decreased by 65 percent year-on-year, according to the municipal Statistics Office.

A lawyer for a foreign auto maker in Vietnam has called for the repeal of the current Law on Investment due to its complexity hindering business activities.

Vietnam’s consumer prices in July rose slightly, up by 0.13% against the previous month, according to the General Statistics Office.

Việt Nam has postponed a US$3-billion international bond issuance plan due to unfavourable conditions in the global finance and monetary market, the finance ministry said.

Vietnam Airlines Joint Stock Company (Vietnam Airlines) has said it earned more than VNĐ36 trillion (US$1.6 billion) in estimated revenue and VNĐ1.6 trillion ($71.6 million) in pre-tax profit in 2016’s first half.

The consumer price index (CPI) in Hanoi continued to go up in July, the seventh consecutive month of growth, the municipal Statistics Office (GSO) reported.

The World Bank has applauded Vietnam’s idea of setting up a “super committee” to supervise assets owned by State-owned enterprises (SOEs), which are estimated at around $227 billion.

The Deputy CEO of the scandal-hit Sabeco seems likely to become CEO of the beer giant after the position remained vacant for months and led to its recent leadership crisis.