Business

The Vietnam-Russia Oil and Gas Joint Venture Enterprise (Vietsovpetro) has announced it discovered oil from Oligocene sediments at Sturgeon well of Lot 09-3/12 off Vietnam’s continental shelf.

Many banking experts have expressed agreement with Prime Minister Nguyen Tan Dung's assertion that weak banks should be dissolved.

Over the past two years, ASEAN markets have become more important for 58 percent of respondents of a poll of 588 senior executives representing US companies in all 10 ASEAN countries.

Vietnam Airlines and Vietjet Air have begun using a flight plan simulator to test the direct air routes through Laotian and Cambodian airspace.

The ministries of Transport and Culture, Sports and Tourism proposed a lift on the visa restrictions for nine countries in order to boost Vietnam's tourism.

Vietnam will apply a zero tariff policy to all automobiles imported from ASEAN countries by 2018, making it easier for consumers to buy cars.

In the first of eight months of the year disbursements of foreign direct investment surged 45% on-year to US$7.9 billion, according to the General Statistics Office.

The government has issued a regulation on financial management for the EVN, banning the group from investing in certain of non-core areas.

Between January and August of this year, about 44,500 companies in Vietnam declared bankruptcy or were dissolved according to the General Statistics Office.

Despite being an agricultural country, Vietnam is still dependent on imports worth billions of USD each year in animal feed and other products to support the husbandry industry.

A modern passenger terminal will be built on Phu Quoc island, a tourist destination in the south and Kien Giang province, to accommodate luxury cruise liners.

Hiroshi Fukada, Japansese ambassador to Vietnam, has proposed changing the name of Nhat Tan Bridge in Hanoi into Viet-Nhat Friendship Bridge.

Several large Vietnamese banks have decided to lower deposit interest rates by 0.1-0.5% for VND accounts for the last months of 2014.

Economic ministers from the 10-member Association of Southeast Asian Nations gathered in Myanmar's administrative capital Nay Pyi Taw yesterday to discuss matters related to economic integration, forming the ASEAN Economic Community and visions for the post-AEC.

Nguyen Ha Dong, the maker of well-known game Flappy Bird, recently launched a new game that is selling extremely well on the Appstore in Vietnam.

Vietnam is set to post a trade surplus of US$100 million in August after a US$49 million deficit in July, according to a preliminary estimate by the General Statistics Office (GSO).

The Vietnamese Government will not make any preferential policies to support the Vietnam National Shipping Lines (Vinalines) during its restructuring plan.

The Vietnam Rubber Group has announced steps to reform how it does business in Cambodia and Laos, in response to requests by Global Witness and local groups for the company to respect national laws.

The final plan on the upgrade and expansion of the Dung Quat oil refinery will be submitted to the Prime Minister for review and approval early next month.