Business

Vietnam’s economy in Q1: A tale of two demands, says ANZ

Vietnam’s GDP growth in the first quarter of 2014 highlights the need to balance the domestic-led and export-driven component of the economy, according to a recent report released by the Australia-New Zealand Banking Group (ANZ).

Vietnam, Bulgaria share oil recycling experience

The Vietnam National Oil and Gas Group and Prista Oil Group of Bulgaria on April 8 co-hosted a dialogue in Hanoi to exchange experience in managing, collecting, refining and recycling lubricant oil for environmental protection.

Vietnamese food promoted at Asian largest fair

Nearly 30 Vietnamese businesses are participating in the largest international food tradeshow in Asia –Food & Hotel Asia (FHA)–ongoing in Singapore from April 8-11.

Investors rush to lower luxury house prices

Many villa projects in Hanoi are being sold at surprisingly low prices amid the slump in the market when their investors want to clear out the stocks.

Ninh Thuan to host international wine festival

A three-day International Grape and Wine festival will be held in Phan Rang City in Ninh Thuan Province from April 17-19 with the aim of promoting exchange, seeking investment opportunities and attracting tourists.

PM decides on VNPT restructuring

Prime Minister Nguyen Tan Dung has directed the Ministry of Information and Communications to take charge of the Vietnam Mobile Telecom Services company and the Institute of Post & Telecommunications Technology.

WB forecasts Vietnam’s growth rate of 5.5% in 2014

The World Bank forecasts that Vietnam’s economy will achieve a growth rate of 5.5% in 2014 and 5.6% in 2015, 0.1 percentage point and 0.2 percentage point higher than the forecast it made in last October.

Major airlines to expand operations in foreign markets

Several major airlines in Vietnam have showed their ambitions to expand their operations in many new international routes in the time to come.

Banks continue lowering deposit rates amid abundant capital

A number of Vietnamese banks have continued slashing deposit interest rates for some short terms to below the ceiling level regulated by the State Bank of Vietnam.

Gold Coin feed mill inaugurated in Hai Duong

American Feeds Company, a wholly US invested company of the Gold Coin Group, inaugurated its feed mill in Binh Giang district, Hai Duong province, on April 7.

Market for smuggled goods shakes from Vietnam Airlines scandal

The market for smuggled goods in Vietnam has been greatly affected after a Vietnam Airlines' flight attendant was arrested by Japanese police for smuggling.

Vietnamese seafood to China under pressure

China has emerged as the fourth largest importer of Vietnamese seafood lagging behind the US, Japan and the EU, and it is predicted to be a major Vietnamese seafood consumer in the coming years.

Vietnamese casinos profit with Chinese visitors

Casino operators in Vietnam have placed their biggest bets on attracting Chinese customers.

SBV moves on with plan to merge banks

The State Bank of Vietnam planned to merge six or seven more banks, SBV governor Nguyen Van Binh said.

Vietnam takes part in Philippines rice tender

Five potential bidders, including Vietnam, have signed up to bid on an 800,000 tonnerice contract withthe Philippines, according to the Philippines website Inquirer.net.

Hung Kings Fair attracts over 200 businesses

More than 200 domestic organizations and businesses are attending the 2014 Hung Kings Fair which was opened in the northern midland province of Phu Tho on April 3.

Drastic changes in store for railway system

The Ministry of Transport has vowed to take drastic measures to restructure and improve the country's stagnant rail sector.

Vietnam Airlines makes plan for September IPO

The State-owned flag carrier plans to launch its initial public offering in September, stated Deputy Minister of Transport Nguyen Hong Truong during the ministry’s Q1 meeting.

Asia's small firms in need of more non-bank financing: report

Small and medium-sized enterprises are the backbone of Asia’s economies, but they need better access to financing to grow and generate new jobs for the region, says an ADB report.