Business

Eight Vietnamese businesspeople have been selected to attend the 2016 Global Entrepreneurship Summit which will be held in California on June 22-24.

The Port of Lazaro Cardenas (LCT), the largest Mexican container port, launched routes to Vietnam and Chile on June 21 which will save up from 13 to 18 days of transit.

The Ministry of Planning and Investment has announced a draft bill to support small and medium-sized firms which state that officials may face criminal charges for discrimination and harassment.

Ho Chi Minh City has announced the introduction of a credit support package for startups worth VND1 trillion ($45 million).

A workshop themed “Improving the Business Environment through Tax Reforms” was held by the Ministry of Finance’s General Department of Taxation, in cooperation with the USAID Governance for Inclusive Growth Program.

Vietnamese shrimp exporters could lose their markets due to the insufficient supply of shrimp, which is partially attributed to direct purchases from local farmers by Chinese traders.

Fuel prices have a small drop on June 20 after six price hikes while diesel and kerosene experienced price increases.

Dealers are seeing growth in the local car market, especially for small cars as tax hikes will take effect from July 1.

Australian Livestock Exporters’ Council has banned cattle exports to several slaughterhouses after the animal welfare group Animals Australia revealed footage that showed cow being repeatedly hit by a sledgehammer.

The Ministry of Planning and Investment (MPI) is drafting a law to specifically support small and medium-sized enterprises (SMEs).

Turbine group 2 with a capacity of 400 MW of the Lai Chau hydropower plant in northern Lai Chau province will provide electricity for the national grid on June 20 or 21.

Deputy Prime Minister Vuong Dinh Hue has urged the Ministry of Agriculture and Rural Development to take urgent action to help local farmers as salt prices have sharply dropped, while stockpiles remain high.

Several experts have suggested raising the US dollar deposit rates, which are currently pegged at zero percent, in order to attract domestic savers.

President of the Asian Development Bank (ADB) Takehiko Nakao has vowed that his bank will continue to give strong support to Vietnam through loans of about 1 billion USD each year, as soon as it builds a new Country

Russia-based petroleum company, Rosneft, and the PetroVietnam Oil Corporation (PV Oil) signed a long-term oil supply deal at the 20th International Economic Forum in Saint Peterburg, Russia on June 16.

Prime Minister Nguyen Xuan Phuc called on Vietnam and Thailand to redouble their efforts in order to bring bilateral trade to 20 billion USD in 2020.

The state-owned shipping firm Vinalines is seeking permission from the Ministry of Finance and the Ministry of Transport to sell six cargo vessels at low prices in order to cut losses and repay debts.

Thailand, Singapore and Malaysia doing much better than Vietnam in tourism promotion, international arrivals, and growth.

Minister of Industry and Trade Tran Tuan Anh has requested an investigation into how the son of former minister Vu Huy Hoang was appointed to key positions in major firms owned by the ministry.