Business

New Australian dairy products are coming to Vietnam

Pactum Dairy Group- a milk processor based in northern Victoria which is a joint venture between Australian Consolidated Milk and Freedom Foods- has signed a deal to supply local firm IDP with about four million litres of UHT milk

Vietnam industrial zones need rethink

Experts have said it is time for Vietnam to develop a master plan for its industrial zones (IZs).

Banking, finance employees have highest average income: VCCI

Banking, finance and insurance employees had the highest income across all sectors in Vietnam in 2014, with an average income of about VND195 million (US$8,660) per year.

Foreign banks have little impact on Vietnam economy

The entry of foreign banks has significantly increased over the last two decades, says the State Bank of Vietnam (SBV), which performs state management over monetary, banking activities and foreign exchange.

GDP of four ASEAN nations to exceed US$1 trillion in 2030

Malaysia, Indonesia, the Philippines and Thailand are expected to join the nations with Gross Domestic Products (GDP) exceeding US$1 trillion in 2030, according to a report released by the global information company IHS Inc.

Victoria Kwakwa appointed WB Vice President for East Asia and Pacific Region

World Bank Group President Jim Yong Kim has appointed Victoria Kwakwa as the new Regional Vice President for East Asia and Pacific.

Tourism sector strives to be spearhead economy by 2020

The tourism sector will strive to become a spearhead economy with a average annual growth rate of 11-12% by 2020, stated new Minister of Culture, Sports and Tourism Nguyen Ngoc Thien.

Bad debts weaken local banking system

In a review meeting on state budget revenue in 2015, the National Assembly's Committee on Finance and Budgeting highlighted that income from the banking sector had reduced considerably.

Jetstar to launch Da Nang-Osaka route

Jetstar Pacific Airlines plans to launch its new route from the central city of Da Nang to Osaka, Japan, in August with four flights per week.

Vietnam, EU agree on timber export regulations

Vietnam and the European Union have agreed that the Timber Legality Assurance System of Vietnam (VNTLAS) will be applied to wood and wood products exported to the EU, and also to other countries, as well as the domestic market.

Quarter of state budget earmarked for debt repayments

Vietnam is forecast to use up a quarter of the state budget for debt repayments in 2016 and this rate may reach a record high between 2022 and 2025, said a local economist.

Vietnam Expo 2016 opens in Hanoi

The 26th Vietnam International Trade Fair (Vietnam Expo) opened yesterday in Hanoi with an aim of enhancing regional and international economic connectivity.

Local banks face liquidity trap as offshore deposits mount

By the end of 2015, the amount of deposited money by Vietnamese nationals in foreign banks reached USD7.3bn, according to the report by the Vietnam Institute for Economic and Policy Research.

Vietjet launches new routes to Tainan, Kuala Lumpur

Low-cost carrier Vietjet Air will commence operating new routes from Ho Chi Minh City to Tainan (Chinese Taipei) and Kuala Lumpur (Malaysia) from this June.

Visa exemptions for Western European travellers extended

The Vietnam National Administration of Tourism is seeking government approval to extend visa exemptions for Western European tourists.

Tax break on 20,000 electric taxis snubbed

The Ministry of Finance has refused a local company’s proposal to provide tax incentives on the import of 20,000 electric taxis from French car-maker Renault.