Business

World Bank to cut costs, bureaucracy: Kim

World Bank President Jim Yong Kim on Friday announced a program to slash costs and reduce bureaucracy at the huge development organization that is expected to result in significant layoffs.

Vietnam expects to get more ODA from EU

The European Union will annually grant more than 300 million euro in official assistance development to Vietnam, announced Ambassador and Head of the EU delegation to Vietnam Franz Jessen on October 10.

Vietnam gives green light to genetically modified crops

While Vietnam has imported GM corn and soybeans for around decade, the country is trying to set up a legal framework for the application of biotechnology domestically.

G-guaranteed bonds issued to help Vinashin

Vietnam will start listing Government-guaranteed bonds at the Singapore Stock Exchange from October 11 to help the troubled Vietnam Shipbuilding Industry Group (Vinashin) repay its creditors.

Legal framework prevents foreign investors from buying Vietnam's bad debts

There are many foreign investors waiting to buy bad debts from the Vietnam Asset Management Company but they are challenged by complicated procedures.

ASEAN-RoK to lift up trade value to US$150 billion

Leaders of ASEAN and the Republic of Korea have agreed to lift up two-way trade value to US$150 billion by 2015.

Vietnam to foster Good Agricultural Practice

Vietnamese farmers should follow Vietnam Good Agricultural Practice (Viet GAP) in order to improve and expand their business.

South Korean contractor denounced for USD2.1 million debt refusal

Thirty nine Vietnamese sub-contractors have accused a South Korea-owned company of refusing the debt of USD2.1 million.

EVN opposes Government Inspectorate’s conclusion

The Electricity of Vietnam Group said some contents of the recent Government Inspectorate’s conclusion on its non-core business are inaccurate.

Vietnam urged to revitalise tea industry

Despite being a major tea producer, Vietnam has been urged to restructure its tea industry to enhance its competitiveness and foster sustainable development.

Hanoi to close 12 unsafe petrol stations

The Hanoi Department of Industry and Trade has proposed that the operation of 12 petrol stations should be stopped for failing to meet safety regulations.

Experts distrust new circular on price stabilisation

The new circular to deal with stabilising the price of children's formula products is not gaining much support from local traders and economists who doubt its effectiveness.

EVN’s losses attributed to its ineffective non-core business

The Government Inspectorate has said that ineffective and massive non-core business activities are to blame for the EVN’s great losses.

VAMC takes on more bad debts

Vietnam Asset Management Company has signed contracts to buy bad debts totaling VND850 billion from three more banks.

E-cigarette trading rampant in Vietnam

E-cigarette trading has become more popular in Vietnam, and authorities seem unable to control it.

Bribery remains urgent issue to Vietnam's economy

Bribery is still an urgent issue in Vietnam, which has caused great difficulties for enterprises and slowed down the country's development.

World Bank lowers East Asia growth forecast to 7.1%

The World Bank on Monday lowered its 2013 growth forecast for East Asian developing countries to 7.1 percent and warned that a prolonged US fiscal crisis could be damaging to the region.

Forestry sector urged to restructure

The forestry sector is in urgent need of restructuring in order to increase added value from wood processing and trade, and promote sustainable forest development, Minister of Agriculture and Rural Development Cao Duc Phat has said.

Foreign airlines eye Vietnam

A selection of international airlines including Etihad Airways (Middle East), SpiceJet (India), Ethiopian Airlines (Ethiopia), and a South African carrier have all foreshadowed plans to begin flights to Vietnam in response to growing customer demand.