Business

Vietnam attracted more than USD21 billion in FDI in 2013. But experts warn the country risks lagging behind without stronger efforts at reform.

Vietnam Railways reported lucrative profits of VND170 billion for 2013, but Transport Minister, Dinh La Thang, pointed out weaknesses.

The Government has recently issued a decree, which will be effective on March 1, 2014, on non-cash transactions, specifying cases which are not allowed to pay in cash.

The Vietnamese Government will not be responsible for foreign loans that it has not guaranteed, according to a new prime ministerial decree.

Several measures have been proposed in order to foster the development of tourism in Vietnam’s Mekong Delta region which still lacks many products and services.

Vietnam lured a total of US$21.6 billion in foreign direct investment in 2013, a year-on-year increase of 54.5%, according to the Foreign Investment Agency.

World energy power Russia said that its 2013 oil output hit a post-Soviet high while natural gas production of its giant Gazprom holding slipped for the second successive year.

The Vietnam stock market skyrocketed in 2013 with a growth rate of over 20%, while other countries in Southeast Asia chiefly saw a decrease or modest rise of 3-10%.

The prices of essential foods have been on the rise as Tet nears.

The Republic of Korea will soon resume receiving Vietnamese guest workers following the recent signing of a special memorandum of understanding in Seoul.

After a startling price hike in December, gas price was reduced by VND 43,000 (USD2.03) per 12-kilo canister beginning from January 1.

The Binh Son Refining and Petrochemical Company, which manages and operates the Dung Quat Oil Refinery, will strive to churn out more than 5.18 million tonnes of products in 2014.

Owners of unlicensed online trading sites will be fined up to VND100 million (USD4,731), according to a new government’s regulation.

Prime Minister Nguyen Tan Dung yesterday pressed for all possible measures to be adopted to ensure effective use of next year's State budget.

Ho Chi Minh City remains its top slot in the Vietnam E-commerce Index 2013 which was announced by the Vietnam E-commerce Association (VECOM) in a ceremony in Hanoi on December 30.

The emerging of a third platform (Cloud, Big Data, Mobility and Social) will change the main themes of the IT and telecoms market in Vietnam in 2014, according to a report listing the top 10 predictions for next year's ICT.

Only 20-30% of Vietnamese real estate firms are forecast to survive through the next year, said the Vice Chairman of HCM City Real Estate Association.

Vietnam’s exports are forecast to enjoy a good year in 2014 thanks to the country’s efforts to expand markets and new opportunities generated from trade deals.

PM Nguyen Tan Dung and many other government officials agreed on loosening regulations for foreigners on home-ownership in Vietnam.