Business

Prime Minister Nguyen Tan Dung has committed all possible support to oil and gas co-operation between Vietnam and Russia as well as between their national oil and gas companies – PetroVietnam and Zarubezneft.

The 130km route from Hanoi's Yen Vien to Ha Long City is currently only serving a few dozen passengers every day.

A South Korean company in HCM City has suddenly halted operations after its director disappeared, leaving the firm owing salaries and social insurance to more than 1,000 workers.

The US called for the next round of ministerial meeting for the Trans-Pacific Partnership (TPP) agreement next week in a bid to clinch the deal, Office of the United States Trade Representative announced on September 24.

In the first 9 months of this year, the country’s exports rose by nearly 10% to nearly US$120.7 billion while imports jumped by 16% to US$124.6 billion, pushing the trade deficit up to around US$3.9 billion.

Government guarantees for investment projects must not exceed 70 per cent of the project's total investment, noted a draft decree recently unveiled by the Ministry of Finance for public opinion.

Russia was the 17th largest investor in Vietnam as of late June with 107 projects worth nearly 2 billion USD, as heard at a September 23 press conference in Hanoi on bilateral economic and trade cooperation.

Mobile fast food outlets have become increasingly popular in HCM City's streets, but there are concerns about food safety.

Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc has proposed that the state bank should lower lending rates while inflation is still low to help local businesses.

Ho Chi Minh City’s consumer price index (CPI) in September decreased slightly by 0.47 % from August and 0.99 % against the same month last year, the municipal Statistics Office announced on September 22.

The government has issued its policy for foreigners to buy houses, but the guiding circulars have not been released.

An established national trademark is needed for Vietnamese rice products to build their image and gain shares on the global market.

Hanoi’s consumer price index fell 0.1 percent in September compared to the previous month and up 0.34 percent from the same period last year.

Vietnam’s economic growth will exceed expectations for 2015 and 2016, with sensible pro-growth monetary and fiscal policies helping to restore macroeconomic stability, the Asian Development Bank said.

The ADB is willing to provide long-term and low-interest-rate loans for Vietnam’s major socio-economic infrastructure projects, its new Country Director Eric Sidgwick assured PM Nguyen Tan Dung in Hanoi.

The cost for domestic air travel will be cut by an average 4 per cent as of October 1 following recent declines in fuel prices.

The General Department of Customs said late last week no chicken has been imported from the US at the low price of VND12,000 (US$0.58) per kilo.

The dollar–dong exchange rates have eased at domestic commercial banks, following a decision by the United States Federal Reserve to keep its interest rates steady.

Ho Chi Minh City’s enterprises need around 46,000 workers, including 9,764 temporary ones, for the third quarter of 2015, according to the city's Centre for Human Resources Forecasting and Labour Market Information.