Business

Vietnam agriculture, forestry and aquatic exports in the four months leading up to May dipped 5.1% on-year to US$8.5 billion, renewing pressure on the government to get the stalled sector moving.

Vietnam will allow foreigners to extend their home ownership by another 50 years, after the first 50-year period ends, according to a draft decree.

The farming of coldwater fish has failed to develop as expected in the Central Highlands province of Lam Dong, mired in distribution, investment and methodical difficulties.

Amata VN PCL, a unit of Thailand's biggest industrial estate developer, Amata Corp PCL, has announced plans to invest in an industrial park in the northern city of Quang Ninh.

The Association of Natural Rubber Producing Countries agreed to work towards a common trading floor in a bid to take control of supply sources and regulate the market at its ministerial-level meeting in Kuala Lumpur, Malaysia, on May 8.

The State Bank of Vietnam (SBV) officially acquired Ocean Bank on May 8, gaining all its equity, including its charter capital of some 4 trillion VND (190.48 million USD).

Most domestic jewellery producers have ignored an increased export tax imposed on gold jewelry, as the new duty does not affect their businesses.

TIME dotCom Berhad (TIME), a data-centric, fixed-line telecommunications provider based in Malaysia with a business reach across the Asia-Pacific region, has announced the acquisition of a 25% interest in a leading telecom based in Hanoi.

Viet Nam's pepper export revenue could set a new record this year or at least equal to that of last year despite lower export volume, according to the Viet Nam Pepper Association.

Party General Secretary Nguyen Phu Trong said Long Thanh International Airport was critical to socio-economic development.

Ho Chi Minh City’s market management force has inspected 68 business and goods-contribution units since the beginning of May, seizing over 8,370 smuggled cigarette packets and 11 motorcycles.

Vietnam was the third largest export market of the Republic of Korea (RoK) in the first quarter of this year after China and the US, according to the Institute for International Trade at the RoK International Trade Association.

The State Bank of Viet Nam has weakened the dong by 1 per cent, reducing the US dollar daily reference rate from 21,458 to 21,673 dong effective from yesterday, its second devaluation this year.

The Electricity Regulatory Authority of Vietnam ( ERAV ) and the US Bureau of Energy Resources ( ENR ) signed a Memorandum of Understanding (MoU) on providing technical support to develop the competitive electricity market in Vietnam.

The Ministry of Agriculture and Rural Development has said it was temporarily suspending permits for chicken from the US as concerns grow over the spread of H5N2 avian flu.

Three Vietnamese banks have entered list of Forbes Global 2000, which is known as a comprehensive list of the world’s largest, most powerful public companies, as measured by revenues, profits, assets and market value.

The Vietnam Bank for Industry and Trade (Vietinbank) will merge with Petrolimex Group Commercial Joint Stock Bank (PG Bank) in the third quarter of this year, said Nguyen Van Thang, Chairman of Vietinbank's Board of Directors.

The Ministry of Agriculture and Rural Development (MARD) has unveiled a master plan (until 2020 with vision extended to 2030) to develop the coffee industry, focusing mainly on processing as the main value-adding measure.

Vietnam's credit growth rate reached 2.78 percent in the first four months this year – the highest in three years, according to the National Finance Supervision Council (NFSC).