Business

A stable economy is having a positive effect on consumer confidence and this together with lower oil prices and interest rates should cause spending to improve this year, Richard Leech, Executive Director of CBRE Vietnam, has forecast.

The Electricity of Vietnam has asked the National Power Transmission Corporation to double efforts to put into use a number of power projects as soon as possible.

The Debt and Asset Trading Corporation (DATC) last year bought debts of 36 businesses, valued at VND825.4 billion (US$38.5 million), posting 52 per cent year-on-year increase.

Peach trees are blossoming around Hanoi, but growers are less than happy because the flowers have come too early for Tet and many are facing huge losses.

The Vietnamese Embassy in Cairo has fulfilled its 2014 tasks regardless recent complicated developments in Egypt, contributing to bolstering traditional friendship and cooperation between the two countries.

Fast-food giant McDonald’s has just opened its fourth Vietnamese outlet in Go Vap district, Ho Chi Minh City, on the occasion of one year of its presence in the country.

The World Gold Council (WGC) ranked Vietnam as the world's seventh largest gold consumer last year, with 69.1 tonnes worth US$2.817 billion, a year-on-year decrease of 29% in volume and 36% in value.

Vietnam is exploring expanding markets for Vietnamese working overseas, with 100,000 headed for mainly Taiwan and Japan to gain employment in several sectors.

Supermarkets in HCM City report a sharp increase in sales in recent days and expect a further rise a few days ahead of Tet (Lunar New Year), which falls on February 19 this year.

Many transport enterprises have reduced their transport fees as legally required, but not enough, a senior official of the Ministry of Finance said on February 11.

Debt collectors and collection companies are doing brisk businesses ahead of the Tet holiday, as creditors try to square their books before the New Year.

Prime Minister Nguyen Tan Dung has thanked the World Bank for assistance in reforming the financial and banking sector in Vietnam, and pledged to ensure the nation adheres to international practices and standards.

Construction to expand part of the Da Nhim hydropower plant began on February 10 in central Ninh Thuan province.

Loans worth nearly $US234m have been agreed between the ADB and Vietnam to support reforms to strengthen the country’s competiveness.

Prime Minister Nguyen Tan Dung has pledged to provide any necessary support for Tan Rai bauxite – aluminium complex in the Central Highlands province of Lam Dong, saying that it has performed up to expectations since its trial operations

The Ministry of Agriculture and Rural Development wants to strengthen links with overseas Vietnamese to boost the agricultural sector and improve farmers' lives.

Rising living standards in major cities have created a boom market for casual workers over the Tet holiday, filling a range of jobs from house sitter, cleaner or cook, to pet minder, salt seller, first New Year caller or "lover".

Market authorities are cracking down on illegally labelled foreign wines and spirits being sold as discounted expensive brands ahead of the Tet holiday.

Nearly 6,000 workers in Binh Duong Province have returned gifts offered by their company for the Tet holiday after finding some of them were cheap fakes.