Business

The price of electricity will increase by five per cent to VND1,437 excluding VAT for one kWh from December 22, following a circular issued by the Ministry of Industry and Trade.

Amid economic difficulties and securities market slump, many owners of securities firms have been trying to sell their companies.

The commercial banking system expects to see credit grow by 6 percent this year, said Saigon Economic Times in its recent report.

Vietnam Post has now officially separated from the Vietnam Post and Telecommunication company to be run by the Ministry of Information and Communication.

Complex rules and procedures have been preventing locally grown products from getting their place on supermarket shelves.

Vietnam’s business environment is still good for investors to consider long-term investment projects despite the current economic hardships, an expert said.

The ailing mobile network, S-Fone, is having more difficulties, with huge debts to employees and other companies.

Samsung has overtaken Nokia as the top mobile phone brand for 2012, a research firm said Tuesday.

China said it faces a bleak foreign trade environment in 2013 due to ongoing global economic weakness.

Deputy Prime Minister Hoang Trung Hai has asked banks to provide capital for Electricity of Vietnam to develop urgent power supplies and the grid over the next two years.

Although the world petrol prices have decreased, domestic companies are reluctant to make decreases.

Vietnam and the Customs Union of Russia, Belarus and Kazakhstan should push the import-export of products of each side’s strength, in order to tap into the great potential of bilateral trade.

Coffee exports in the past 11 months reached 1.56 million tonnnes and fetched around USD3.34 billion, according to the Vietnam Customs.

The MoIT has proposed to cancel 377 hydropower projects due to environmental concerns and investment obstacles.

A number of computer companies in Hanoi and HCM City have been fined for software copyright violation.

Amid economic difficulties, many banks have proposed lowering their profit targets for this year.

Experts have held many meetings to find a solution to rescuing the failing housing market, but no real solutions have been found.

Reports from the MoIT have shown a gloomy picture and huge inventory of the local automobile companies since 2008.

Many people are unaware of tax duties and are often tricked into buying smuggled or fake luxury items.