Business

The Japan International Cooperation Agency (JICA) will maintain close coordination with the Vietnamese Government as the biggest official development assistance (ODA) partner of Japan, according to JICA Representative Chief Mori Mutsuya.

Prime Minister Nguyen Tan Dung yesterday said Vietnam must slash the total time needed to prepare and file yearly tax payments to the ASEAN average of 171 hours per year by the end of this year.

The Japan International Cooperation Agency (JICA) said it would ask Tokyo to stop soft loans to Vietnam unless bribery was brought into check.

Vietnam’s per capital GDP reached USD1,908 a year in 2013, ranking it seventh in the 10-member ASEAN region, according to the General Statistics Office (GSO).

Infrastructure developers prefer seeking capital from domestic and foreign commercial loans than official development assistance (ODA), which is in the long run more expensive than people think.

The two bauxite mining and processing projects in the Central Highlands Province of Lam Dong, which became operational in October 2013, would incur losses for four to five years.

Vietnam's growth, though not stellar, is continuing, as latest high-frequency indicators suggest domestic demand is rebounding, albeit at a gradual pace, according to HSBC's Asian Economics quarterly report.

The Bank of Korea cut rates to a record low of 1.75 percent this month, and Koreans are looking for higher returns overseas.

Samsung and LG agreed Tuesday to end all pending legal disputes that had seen the South Korean electronics rivals accuse each other of stealing technology and vandalising products.

Domestic agriculture is seeing opportunities to expand markets and acquire new technology as several Japanese investors show interest in hi-tech farming in Vietnam.

Private enterprises have laid the foundation for and imparted momentum to the development of Vietnam's economy, said Bui Quang Vinh, Minister of Planning and Investment.

Vietnam’s public debt rate may climb to 60 percent of the country GDP in 2016 and economists say the rate may be much higher than the Asian Development Bank has forecast.

Low export growth and rising imports by foreign-invested firms have contributed to Vietnam’s first quarter trade deficit.

Vietnam is tightening management over its booming economic zones as success gives way to inefficiency.

Vietnam shipped 536,570 tonnes of rice worth 236 million USD abroad during the first quarter of this year, marking the lowest Q1 figures since 2009, announced Huynh The Nang, Deputy Chairman of the Vietnam Food Association (VFA).

Vietnam's State Securities Committee has held a workshop to publish changes to Decree 58/2012/ND-CP, which aim to implement and amend the Securities Law in order to improve the efficiency of the national stock market.

Vietnam’s gross domestic product is likely to expand by 5.5-5.6 percent in the first quarter, much higher than growth seen in same period last year, Deputy Minister of Planning and Investment Dao Quang Thu forecast.

LG Electronics on March 27 inaugurated its new facilities in the northern port city of Hai Phong.

Prime Minister Nguyen Tan Dung has demanded the use of technological advances to modernise public administration through e-government systems, considering it essential for a better business climate.