Business

Vietnam has expanded the plan to develop the petroleum industry in the country by 2020, but some say that the increasing number of refineries comes with significant risks.

The Minister of Industry and Trade (MoIT) is likely to fulfil all the set targets for 2014, with industrial production index rising 7-7.2 percent, exports growing 12 percent to 148 billion USD and retail revenue expanding by 12 percent,

Vietnam has seen a large increase in beer production over the past decade, and among the 25 biggest beer producers worldwide in 2013.

Party General Secretary Nguyen Phu Trong has affirmed Vietnam's willingness to offer favourable conditions for foreign investors, including those from the Republic of Korea (RoK), to run their smooth operations in Vietnam.

Despite the economic slowdown, many Vietnamese continue to travel to destinations in the US and Europe, and this trend is on the rise.

The International Labour Organisation (ILO) recently announced that labour productivity in Vietnam is among the lowest in the Asia – Pacific region.

The Vietnam Association of Seafood Exporters and Processors (VASEP) has decided to launch a case against the US Department of Commerce (DOC) via the US International Trade Commission (ITC) over its imposition of duties on Vietnam s warm-water shrimp.

Vietnam's per capita rate of public debt has increased by 9.9% or VND 1.8 million over the past year, according to a recent report by the Economist.

The inauguration of a direct Singapore-Phu Quoc air route provides the opportunity for further development of the economic possibilities between Vietnam and Singapore, particularly offering up opportunities to boost the region’s image as a top family holiday destination.

The construction plan for Long Thanh International Airport, which is expected to cost USD6 billion in the first phase, will be submitted to the NA for consideration.

Vietnam is keen on attracting more investment from Japanese small- and medium-sized enterprises to help develop the nation's support industries, President Truong Tan Sang said yesterday.

Kien Giang provincial authorities have announced that, not only would Phu Quoc Island become an economic zone, it would also welcome casinos.

The unemployment rate among young people aged between 15 and 24 saw a sharp increase of 6.31% in the first nine months of 2014, three times higher than the country’s average figure (2.12%), according to the General Statistics Office (GSO).

One recent survey suggests that foreign direct investment businesses in Vietnam are becoming known for treating their employees badly.

The Government’s regular monthly meeting is taking place in Hanoi on September 29-30, reviewing the country’s socio-economic development in the first nine months of 2014 and work out measures to meet targets set for the whole year.

Some economists have pointed out that the biggest obstacle in the ongoing banking restructure effort is the problem of bad debt.

Economists believe that the Ministry of Industry and Trade should require state-run corporations and groups to make public extra-salary incomes of their leaders.

Southeast Asia’s economy will overtake Japan’s by 2025, according to the latest prediction from Singapore’s United Overseas Bank (UOB).

Prime Minister Nguyen Tan Dung initiated the 27km underground cable connecting Ly Son island district in the central province of Quang Ngai to the national electricity grid on September 28.