Business

Amid economic difficulties and fuel price spiraling more people in Hanoi have opted to use electric bikes instead of motorbikes.

Singapore will host the second ABAC Meeting of 2013 from April 3 – 6 with participation of some 150 prominent business leaders from the 21 Asia - Pacific Economic Cooperation economies.

The National Financial Supervision Committee has forecast that Vietnam’s inflation rate in 2013 will be controlled at less than 7 percent.

The manufacturing sector of Vietnam edged back into expansion in March, with the PMI posting a 23-month high of 5.08.

Saigon Petrol’s gas prices will be cut by VND24,000 per 12-kg cylinder, the biggest decrease so far this year, said a firm official.

The price of rice continued declining during the first quarter of this year, creating problems for rice exporters.

Many real estate companies in HCM City have been switching to other temporary businesses to overcome the financial difficulties.

PetroVietnam has signed a production-sharing contract for Block 42 on the continental shelf waters of Vietnam with a consortium of contractors including PetroVietnam Exploration and Production Corporation and the Russia-Vietnam oil and gas joint venture, Vietsovpetro.

The export price of Vietnamese tra fish bound for the US has risen by 0.3-0.4 USD per kilo, 10 percent higher than in mid-March.

The establishment of an assets management company will be delayed due to the limited options in dealing with bad debts.

HCM City has selected five sectors which will be given preferential loans, including agriculture, export, and support industries.

Many businesses have successfully overcome challenges to secure their foothold in the global market after 54,000 others were dissolved under the negative impact of the global economic crisis in 2012.

Though many FDI companies have been suspected of transfer pricing, tax investigation by local authorities remains stagnant.

The MoF and MoIT have allowed petrol prices to increase by VND1,430 per litre because the price stabilisation fund is exhausted.

PM Nguyen Tan Dung and Chairman of the Eurasian Economic Commission’s Board Viktor Borisovich Khristenko, officially launched negotiations for a free trade agreement between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan.

As many as 2,000 taels of gold were sold at 43.81 million VND (about 2,100 USD) each in the first gold bullion bidding held by the State Bank of Vietnam on March 28.

The minister of Transport has criticised general director of Vinalines for being absent from a meeting on restructuring the company.

Vietnam maintained double-digit export growth last year, weathering the global downturn extremely well, according to a HSBC report.

Credit institutions have been banned from providing loans to customers to buy gold, according to the State Bank of Vietnam.