Business

VAMC plans to buy from VND70-100trn bad debts this year to help reduce the banking sector's bad debt level to three percent.

With the Government's determination to hasten the restructuring of the credit institution system, mergers and acquisitions (M&A) in the banking sector were projected to boom in the coming years.

Popular cookie brands are being counterfeited at La Phu Commune in Hanoi to take advantage of high demand for the upcoming Tet festivities.

The World Bank on January 13 lowered its global growth forecast for 2015 and next year due to disappointing economic prospects in the euro zone, Japan and some major emerging economies that offset the benefit of lower oil prices.

Police have arrested owners of a Hanoi company operating a VND300bn underground gold trading floor after it failed to pay promised returns to investors.

The representative office of Vietnam Airlines in the UK on January 13 announced that the firm will provide its services at Heathrow Airport’s T4 Terminal instead of Gatwick Airport from March 31.

The electric sector has set a goal of producing 141.8 billion kWh of commercial electricity in 2015, or up 10.4 percent against last year, in order to meet demand which is expected to rise rapidly this year.

Striking workers at a South Korean-invested firm in HCM City will be sued for losses caused to the company.

The Association of Southeast Asian Nations (ASEAN) will continue to grow in the fast lane, an outperformer with upside potential, said Standard Chartered Bank.

Early blossoms, a late Tet and bad weather are creating a headache for orchardists growing ornamental trees to mark the festive holiday, with growers in HCM City fearing big losses.

Construction of Phan Thiet airport in Thien Nghiep commune, Phan Thiet city, in the southern coastal province of Binh Thuan will commence in January, according to the provincial People’s Committee.

Vietnam Airlines chief executive Pham Ngoc Minh denied pilots of his airline are being underpaid after a large number of pilots attempted to resign.

Vietnam Airlines has cut fares on short-haul routes by up to 30 percent to promote development of remote, border and island areas.

Vietnam’s banking sector will step up restructuring measures in 2015, with the expected merging of several major banks, such as Vietcombank with Saigonbank, and PGBank with Vietinbank.

Transport Minister Dinh La Thang has suspended leave for employees of Vietnam Airlines, the top airliner in Vietnam, due to concerns about air safety.

Due to recent widespread drought, Thailand’s off-season rice production is expected to yield only 6.7 million tonnes in 2015, a 30 percent decrease from the 9.7 million tonnes last year, reported the Office of Agricultural Economics.

The Vietnam Chamber of Commerce and Industry (VCCI) on January 10 honoured winners of the business start-up competition 2014 and launched the 2015 business start-up programme.

Foreign foods and confectionery products are proving tough competition for local products in the run up to this year's Tet festival due to higher quality, more diversity at the expense of local products.

Australia had 320 valid foreign direct investment (FDI) projects worth over US$1.65 billion in Vietnam at the end of 2014, ranking 19th among 101 countries and territories investing in the country, according to the Ministry of Planning and Investment’s