Business

Vietnam needs to reduce its use of ODA, restricting it to urgent and major projects, and take steps to minimise use of such foreign loans as a whole, a senior official has said.

Prime Minister Nguyen Tan Dung has given approval to the management regulations the Ministry of Transport proposed late last year to be applied for the operations of ridesharing app Uber in Vietnam.

Prime Minister Nguyen Tan Dung and his Russian counterpart Dmitry Medvedev have agreed to promote the Vietnam-Russia Comprehensive Strategic Partnership in all fields in an effort to bring two-way trade to US$10 billion by 2020.

Dozens of tonnes of watermelons are in risk of spoiling as trucks are stuck at the border checkpoints in Lang Son Province due to the low capacity of customs clearance in both Vietnam and China.

The most important segment of the Mekong Delta highway system, the My Thuan – Can Tho highway, will kick off by the end of the year.

Vietnam collected VND226 trillion (US$10.7 billion) for the State budget in the first quarter of 2015, up 1.3 percent from a year ago, data from the Ministry of Finance indicated.

More than 5,000 businesses became operational again in the first quarter of this year, posting a 10 per cent year-on-year increase.

Shareholders will be unable to negotiate dividends with their banks this year, with the final decision resting with the State Bank of Viet Nam (SBV), according to senior bank officials.

Deputy Transport Minister Nguyen Hong Truong said on April 3 the government had yet to receive any official information about an alleged Posco corruption case from South Korean government.

Deputy Prime Minister and Foreign Minister Pham Binh Minh and Indonesian Foreign Minister Retno Marsudi have vowed to work for the target of raising two-way trade to 10 billion USD in 2018 from 5.4 billion USD last year.

Deputy Prime Minister Hoang Trung Hai has said that he endorses the early formulation of a legal framework to encourage investment into the production of solar energy.

Vietnam’s beer consumption rate has been sharply increasing over the past 15 years, while remaining largely unchanged in the rest of the world, a Health Ministry official said.

Vietnam Television (VTV) said it will pay for a landmark 636-metre television tower, planned to be the tallest in the world, through private capital sources, rather than seek state budget assistance for the project, a VTV official said.

Vietnam ranks the third in Asia in terms of the increase in the number of new wealth builders who have averaged assets of up to USD2 million, said a report by The Economist magazine and CitiBank.

Sales of fake products are rampant in the market, and authorities say they are facing various difficulties trying to curb the problem, blaming consumer demand.

Worried about a significant drop in agricultural exports, the Ministry of Agriculture and Rural Development (MARD) has decided to establish a steering committee that will gather information on problems faced by traders and identify possible solutions.

Minister of Information and Communications Nguyen Bac Son has reiterated the State’s stance on non-privatisation of the press and declared the reorganisation of press association activities.

The PetroVietnam Exploration and Production Corporation (PVEP) has reached a production-sharing contract (PSC) for blocks MD2 and MD4 off the coast of Myanmar with the Myanmar partner.

If you thought Asia's manufacturing giants are just China, the Republic of Korea and Thailand, say hello to a new one: Vietnam.