Business

The State Bank of Vietnam has issued a circular allowing commercial banks an additional year before applying new, strict debt classification standards.

As many as 450 businesses have registered to join VIETBUILD 2014 – an international exhibition on real estate, interior and exterior design, and construction materials – to be held in Hanoi on March 26-30.

The Ministry of Labour, Invalids and Social Affairs has suspended the activities of 14 Vietnamese and 11 Taiwanese employment companies involved in sending Vietnamese workers to Taiwan for regulation violations.

Low-income buyers will be allowed to mortgage their new houses or apartments to access loans from the VND30 trillion (US$1.3 billion) housing stimulus package.

The Minister of Transport explained that the high cost of construction for roads in Vietnam compared to other countries is due to slow site clearance.

The year 2014 has been so far a great start for most of the world’s real estate markets. As 2013 was a great year for the stock markets, many investors are cashing in profits and moving some of their

The Vietnam National Petroleum Group said that the fuel price has just increased by VND70-200 per litre beginning March 19.

The Asian Development Bank said emerging East Asia’s local currency bond markets have weathered the recent market volatility well but risks to the markets are ticking up.

Vietnam and the European Free Trade Association are in Free Trade Agreement negotiations and are expected to complete them by the end of this year.

The country’s consumer price index (CPI) will register an insignificant increase this month due to low demand, experts have forecast.

Vietnam’s “ultra high net worth individuals”, those with US$30 million or more in total assets, will double to nearly 300 in the next 10 years, according to the latest wealth report of Knight Frank.

The US group Exxon Mobil and Vietnam National Oil and Gas Group are working on a USD20 billion gas-electricity project in the central province of Quang Ngai.

Vietnam Airlines has banned its flight attendants on short and medium-length international routes from bringing large bags or suitcases to prevent smuggling.

Banks are optimistic and willing to offer low-interest loans as the State Bank of Vietnam lowered its caps for the first time this year.

Texhong Group, one of the largest suppliers of cotton and spandex in the world and among the top 10 businesses in China’s textile and garment sector, is making a further push into Vietnam with its newest $300 million cutting-edge

Transactions on foreign exchange (forex) trading floors are illegal in Vietnam and violators can face administrative fines of up to VND100 million, or US$4,760.

Prime Minister Nguyen Tan Dung on March 17 hosted a reception for Trade Commissioner of the European Union Karel De Gucht who is in Hanoi for the seventh round of talks on the Vietnam-EU free trade agreement (FTA).

The State Bank of Vietnam will set aside VND8 trillion in preferential credit to buy rice from farmers under a state-backed rice storage programme, said one official.

EU Trade Commissioner Karel de Gucht is scheduled to arrive in Vietnam on March 17 as part of his Southeast Asian tour to strengthen trade cooperation with these countries.