Business

Asia-Pacific kickstarts first talks in bid to create trade super bloc

Sixteen Asia-Pacific nations including Japan and China held the first round of negotiations yesterday toward the creation of one of the world's largest free trade blocs.

State Bank urged to slow down bad debt settlement

Economists and banking leaders proposed that the SBV delay the deadline to deal with bad debts to improve the access to capital for firms.

Major banks continue to lower deposit interest rates

Just after Vietcombank applied a sharp decrease to their deposit interest rate, three other large banks followed suit.

Tax cuts proposed to boost tourism sector

The Ministry of Culture, Sports and Tourism has sought Government approval to slash both the value added tax and corporate income tax by half for the tourism and service industry sectors.

HCM City projects seek investors

City authorities are calling for investment in dozens of projects in HCM City's Thu Thiem new urban area, which is expected to be a major international financial-commercial centre by 2020.

WB promotes partnership with Vietnam

The World Bank is keen to boost its partnership with Vietnam and pledges to support the country’s development programs.

Asia Commercial Bank faces great difficulties

More than 200 staff of the Asia Commercial Bank have been laid off over the past 3 months due to financial difficulties.

Banks defend high revenues

The State Bank of Vietnam has countered accusations about bank revenues and disclosed the interest paid to depositors.

Thai investor nears agreement on USD27 billion oil refinery

Thai PTT Public Company Limited plan to borrow 60% of capital for the USD27-billion oil refinery project.

Securities firms seek plans to dissolve

Securities companies are shutting down or threatened by dissolution as the economic recovery takes time to have an effect.

Fuel price stabilisation data to be published

Deputy Prime Minister Vu Van Ninh has asked the Ministry of Finance to publicise the management and use of the fuel price stabilisation fund every quarter on the Ministry’s website.

Vietnam to tackle tax evasion problem in FDI companies

The ministry of Planning and Investment has recently analysed the benefits and problems of 25 years of foreign direct investment.

WB Vice President visits Vietnam

The World Bank East Asia and Pacific Regional Vice President, Axel van Trotsenburg, is paying an official visit to Vietnam from May 6-9.

Budget revenue reaches 76 trillion VND in April

Government revenue hit 76 trillion VND in April, raising the total revenue in the first four months of this year to 244.1 trillion VND, the Ministry of Finance said on its website.

Hanoi wants to set up its own capital investment company

Hanoi is seeking to set up its own capital investment company to support enterprises.

Mineral mining transparency urged

Vietnam should participate in the Extractive Industries Transparency Initiative, according to a report conducted by Adam Smith International.

Vietnam attends ADB’s 2013 annual meeting

A Vietnamese delegation led by Dao Minh Tu, Deputy Governor of the SBV, is attending the 46th Annual Meeting of the Board of Governors of the ADB in New Delhi, India.

Vietnam’s economy remains sluggish

A total of 16,000 enterprises across Vietnam had filed for bankruptcy in the first four months of this year, up 16.9% from a year earlier, a report said.