Business

Vietnam – world’s fourth largest wood exporter

With 6.9 billion USD in revenue from wood and wood-based product exports in 2015, Vietnam has become the fourth biggest wood exporter in the world, following China, German and Italy, according to the Handicraft and Wood Industry Association of

Finance Ministry orders Uber to pay tax, or else

Uber has been ordered by Vietnam's Ministry of Finance tax department to pay its legally required levy, or face prosecution if it continues to refuse.

Half Vietnam’s auto imports come from India

India accounted for almost half the volume of completely built-up (CBU) passenger cars Vietnam imported last year despite lower tariffs on vehicles from ASEAN countries.

Work on Schneider Electric's new plant begins

Schneider Electric has kicked off the first phase of construction for its new factory in Saigon High-Tech Park in Ho Chi Minh City.

VCCI: Local companies must improve decision making

At a meeting convened by the Vietnam Chamber of Commerce and Industry in Hanoi, business leaders elaborated on the importance of local companies improving their decision making skills.

CIEM optimistic about Vietnam's economy

Vietnam's GDP growth rate in 2016 could reach 6.82 percent, according to the Central Institute for Economic Management.

HCM City fires 642 taxi drivers

Taxi companies in HCM City sacked 642 drivers in 2015, mainly for using drugs or cheating on customers, according to the city’s HCM City Taxi Association.

More than 700 Ford EcoSport cars recalled in Vietnam

The US’s Ford Vietnam has announced a voluntary recall of 728 units of the EcoSport made between December 29, 2014 and March 10, 2015 to rectify suspension issues, said Lao Dong (Labour) Newspapers .

State bank reference rate falls again

The State Bank of Vietnam has announced its reference rate of VND21,886 per US dollar.

Newly established firms increase 21 percent in January

Vietnam saw 8,320 new enterprises begin operations, with total capital of 59.3 trillion VND (2.7 billion USD) in the first month of this year, according to the General Statistics Office.

Standard Chartered forecasts Vietnam’s GDP growth at 6.9%

Standard Chartered Bank expects Vietnam’s GDP growth to accelerate to 6.9% in 2016, higher than its previous forecast of 6.6% driven by better construction activity and manufacturing strength amidst continued strength in FDI inflows.

Vietnam to sign TPP on February 4

Vietnam and other member countries of TPP agreement will officially sign the agreement on February 4 in Auckland, New Zealand.

International arrivals to Vietnam surge in January

More than 805,000 visits were made to Vietnam by international tourists in January, a 5.8 percent increase from last month and 12.3 percent surge from the same month last year, said the Vietnam National Administration of Tourism (VNAT) under

Vietnam trade with nearly 30 nations hit $147b in 2015

Of more than 200 countries and territories that Vietnam had trade relations with last year, there were 29 countries that the country had export turnover of more than $1 billion.

Keangnam faces fresh controversy over unpaid taxes

South Korean developer Keangnam Enterprise Ltd. is facing difficulties in Vietnam due to a series of tax issues arising from its key construction projects in the country.

Vietnamese central bank to soon clarify regulations for property loans

The State Bank of Viet Nam will issue instructions about loans for property when seeking mortgages, in a bid to clear misunderstandings, a representative said.

US dollar rate cut to three-month low

Commercial banks cut the exchange rate of the United States (US) dollar against the dong by 30 VND to 40 VND, bringing it to its lowest level in the past three months.

Forbes Vietnam announces outstanding figures in 2016

The Forbes Vietnam Magazine announced on January 25 a list of 30 outstanding figures under the age of 30 and active in various fields.

Watermelon growers hurt as China demand moves elsewhere

China's demand for watermelons from Vietnam has nosedived, leaving growers in Ninh Thuan and Binh Thuan provinces facing huge losses from low prices and surplus production.

Vietnam becomes Ford’s No. 3 market in Southeast Asia

Vietnam was Ford’s third biggest market in Southeast Asia in 2015, after Thailand and the Philippines, said Mark Kaufman, director of the US car marker in the region.

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