Business

US investments in Vietnam are expected to rapidly increase due to Vietnam's potential for consumption and new business opportunities, according to the Ministry of Planning and Investment's Foreign Investment Agency.

While falling oil prices have created mounting pressure on crude oil drilling and exporting companies in Vietnam, economic experts said the economy would actually benefit.

The State Bank of Vietnam (SBV) Operation Centre adjusted the reference exchange rate between the Vietnamese dong (VND) and the USD up by 90 VND on the morning of December 15.

While Vietnam is trying to attract foreign travellers after a long sharp fall in visitor numbers, more local people are rushing abroad to experience new countries.

Besides traditional co-operation areas, Vietnamese and Russian businesses should take initiative in widening their relations, vice chairman of the Vietnam Chamber of Commerce and Industry Hoang Quang Phong said.

A sharp fall of coffee prices has caused many difficulties for local growers and if the situation does not improve, many of the farmers may turn to planting other crops instead.

A ceremony was held in the southern province of Ba Ria-Vung Tau on December 13 to launch the Tam Dao 05 offshore oilrig, the largest ever locally manufactured jack-up rig.

Automobiles which are priced higher in Vietnam than in regional countries is the reason for the sluggish development of the automobile industry, experts say.

The demand for container houses in HCM City has increased over the last year as available land declines due to increased urbanisation.

Japan’s Koizumi group has successfully bought 23% of Vietnam QH Plus Ltd Company’s shares and cooperated in developing support products for the domestic construction sector.

The PetroVietnam Exploration Production Corporation welcomed the first flow of commercial oil from Bir Seba oil field, lot 433A and 416B during a ceremony in Algeria.

Airports Corporation of Vietnam (ACV) off-loaded the entire 77.8 million shares at an average price of VND14,300 (63 US cents) each, 3.47 per cent of the company, in its initial public offering (IPO) on the HCM Stock Exchange.

The Civil Aviation Authority of Vietnam, central Binh Dinh provincial People's Committee and relevant agencies on Thursday approved adjustments to the Phu Cat airport plan for 2020 with a vision for 2030.

100 Indonesian companies in various sectors have come to Vietnam in the first Indonesia Trade Fair ever to showcase their products and services and seek partners.

Vietnamese industry still remains dependent on imported equipment and spare parts, driving up the trade deficit, while local firms remain incapable of fulfilling their support industry role.

About 20 companies are projected to launch initial public offerings on domestic exchanges this month with a total estimated value of more than 4 trillion VND (178.6 million USD).

US Senators John McCain and Kelly Ayotte have introduced a resolution of disapproval under the Congressional Review Act that would nullify the US Department of Agriculture's final rules establishing the catfish inspection programme.

Final consumption expenditure (percent of GDP) in Vietnam was estimated at 70 percent last year by the World Bank with household consumption accounting for 90 percent, making the country among Asia’s top 5 retail markets.

Myanmar’s first stock exchange was officially inaugurated in Yangon on December 9 with six local companies listed.