Business

Japanese small and-medium investors are increasing their investment in processing, manufacturing and retail in Vietnam, according to the first quarter report by the Ministry of Planning and Investment (MPI).

Titled “Continuing to reform the investment and business climate in Vietnam: Turning Words into Action”, the 2015 Spring Economic Forum opened on April 21 in Vinh City, Nghe An province.

Vietnam saw an abnormal 10 percent fall in agricultural and seafood export revenue in the first quarter of 2015, official said.

Major tour companies are scaling back operations in Khanh Hoa Province’s Nha Trang City as the number of Russian tourists coming to Vietnam dwindles and small, unlicensed operators, undercut the market.

Developing agriculture and ensuring food security should play a central role in the national development strategy of any country, Deputy Prime Minister Nguyen Xuan Phuc has said.

Vietnam is changing rules to allow foreign investors bigger stakes in local banks in its latest move to rebuild a financial sector battered by bad debt, according to the country's prime minister.

Business performance at banks is expected to improve significantly during the second quarter, against the same period last year, a State Bank of Vietnam (SBV) survey said.

Financial institutions have reported a rise in the demand for loans since the beginning of March, according to a survey conducted by the Monetary Forecast and Statistics Department under the State Bank of Vietnam.

Though exports for textile and garments in the first quarter (Q1) reached US$4.75 billion, industry insiders said the figure was worse than forecast, the Hai quan (Customs) newspaper said.

The disbursement of the VND30-trillion (US$1.38 billion) housing stimulus package has been stagnant, despite the increase in the number of successful transactions in the real estate market.

The anticipated loss of revenue of the state budget in 2015 has put pressure on the Ministry of Finance (MOF), which plans to impose higher fees to offset losses.

Two-way trade between Vietnam and Russia hit US$2.6 billion last year. However, it accounted for less than 1 per cent of Vietnam's total import-export activity with the world, which was $298.2 billion.

The lucrative Vietnamese $12 billion per annum automobile market could help rescue the Thai automobile industry, which is now facing difficulties.

Head of the Civil Aviation Authority of Vietnam (CAAV) Lai Xuan Thanh asked Vietnam Airlines (VNA) to implement measures to prevent smuggling and illegal transportation of property and goods.

The 2015 Vietnam Trademark Forum opened in Ho Chi Minh City, focusing on the theme of connecting national brands for improved competitiveness.

State-owned cement producer Semen Indonesia (SMGR) would further strengthen its foothold in Vietnam’s market by acquiring another local cement company in the country, the company’s executive said.

Danang leads the pack as one of the world’s fastest-growing family and vacation destinations as its marble mountains, tranquil beaches and authentic Vietnamese dishes continue to bring international praise.

Free trade agreements (FTAs) between Vietnam and the Eurasian Economic Union, the Republic of Korea (RoK) and the European Union (EU) will be signed in 2015.

Minister of Planning and Investment Bui Quang Vinh and Singaporean Minister of Trade and Industry Lim Hng Kiang co-chaired the 11th Ministerial Meeting on Vietnam-Singapore Economic Connectivity in the central province of Thua Thien-Hue on April 17.