Business

Banks in Vietnam have stepped up competition to win the deposits of year-end remittances from overseas workers, which are a profitable source of income.

Thai Vietjet Air, a branch of the Vietnamese low-cost carrier Vietjet Air, made its debut in Bangkok, Thailand on December 20 with the participation of senior leaders of the two countries.

HCM City Department of Science and Technology has introduced its own taxi booking and management application, called LiveTaxi, which can be downloaded on mobile devices.

E.SUN Commercial Bank, Ltd of Taiwan and BNP Paribas bank of France have been granted permission to establish branch banks in Vietnam, Nguyen Van Binh, Governor of the State Bank of Vietnam (SBV) recently revealed.

The Mekong Delta region’s unhusked rice output is likely to reach 25.2 million tonnes this year, according to the Cultivation Department under the Ministry of Agriculture and Rural Development.

Sharp declines in the value of the rouble were posing a serious risk to companies in Vietnam doing business with Russia, an economist said.

Prime Minister Nguyen Tan Dung has instructed the Transport Ministry to work with Ho Chi Minh City authorities to determine Uber's legal status in Vietnam.

The governor of the State Bank of Vietnam, Nguyen Van Binh, met in Vientiane with his counterpart Governor of the Laos Central Bank Somphao Phaysith and other senior officials of the Lao Government.

A Japanese contractor wants daily compensation of VND2.5bn after Vietnam authorities failed to make available a contracted construction site in Binh Duong Province.

Vietnam's overseas workers are expected to remit some USD12 billion this year, a national economic outlook report has said.

Vietnam has banned the import of Australian fruit because of concerns about fruit fly infestation.

Five Vietnamese companies have decided to cooperate to produce locally-made automobiles amid increased competition from foreign producers.

The Electricity of Vietnam (EVN) has proposed increasing the power price by an average 9.5 percent from this month.

The Civil Aviation Administration of Vietnam has ordered local airlines to reduce ticket prices following declining fuel prices.

Declining oil prices over the past month have yet to be reflected in lower ticket prices among airlines operating in Vietnam.

High-profile banker Nguyen Duc Kien, former Vice Chairman of the Asia Commercial Bank Founding Council still faced a sentence of 30-year imprisonment as declared by the Hanoi Court of Appeals on December 15.

Vietnam’s Minister of Industry and Trade Vu Huy Hoang and Minister in charge for Trade of Asia – Europe Economic Committee Andrei A. Slepnhev have signed a joint statement on conclusion of negotiations on the Free Trade Agreement between

Vietnam welcomed over 7.2 million foreign visitors over the past 11 months, an increase of 5.4% compared to the same period last year, according to the Vietnam National Administration of Tourism.

Foreign residents can buy residential and commercial property in Vietnam under the Law on Real Estate Business, an official has said.