Business

Police in Thanh Hoa Province have pulled off the biggest ever raid on a food seasoning and additives factory using MSG and other seasonings of dubious origin.

Seven foreign pharmaceutical firms’ business registrations and drug importing licenses were suspended for 12 months starting January 2015 due to violations in their drug registration dossiers, according to the Drug Administration of Vietnam.

Prime Minister Nguyen Tan Dung has assured the nation that Vietnam’s gross domestic product and inflation are still under control and are expected to hit their targeted 6.2 percent and 5 percent, respectively, despite the plunge in oil prices

Some 150 workers at Bay Nguyet Garment Company Ltd have been abandoned by their boss, who has disappeared owing them hundreds of millions of VND in unpaid wages.

The State Bank of Vietnam has instructed credit institutions to continuously cut the annual interest rate for medium and long-term loans by one to 1.5 percentage points to help businesses.

The Vietnam Tra Fish Association has voiced its objection to US anti-dumping tariffs on Vietnamese tra fish.

Many Vietnamese private companies are using technology 50 years out of date, senior officials said.

Vietnam may face more power price rises this year and into the near future as state-owned Electricity of Vietnam Group continues to incur big losses.

The Prime Minister has approved several economic mechanisms designed specifically for the northern coastal province of Quang Ninh and its Van Don economic zone.

The CAAV and Boeing signed a Memorandum of Collaboration in support of Vietnam receiving category 1 approval by the US Federal Aviation Administration.

The Vietnam Air Services Company (VASCO) replaced the national flag carrier Vietnam Airlines to offer flights on three domestic air routes beginning January 26.

By January 20, foreign businesses had invested US$392.18 million in 44 new projects and US$271.26 million in 19 existed ones, a year-on-year increase of 67.1%.

Electric cars are proving popular in HCM City even though the authorities have yet to allow them to be registered for use due to concerns about safety and suitability to traffic conditions.

Vietnamese tra fish fillets' exports to the United States might be hurt this year due to a high anti-dumping tax rate imposed by the latter, an official said.

Vietnam’s total imports and exports in the first half of January increased by 6.2% to US$12.11 billion compared to the same period last year, according to the General Department of Vietnam Customs.

Even though Vietnamese pilots are spending billions of VND on training, up to 20 percent of them fail to complete the process.

Work has started on construction of a new main passenger terminal building and apron at the Cat Bi international airport in Hai Phong city.

A delegation led by Deputy PM Pham Binh Minh are actively touting Vietnam’s attractiveness as a good investment destination at the WEF in Davos.

Vietnamese authorities are trying to find ways to cope with tumbling world oil prices, but are optimistic about long-term benefits for the economy.