Business

Total lending for non-production sectors decreased by 1.1% while credit for production industry increased considerably, according to new statistics.

More than 200 businesses from 16 countries are expected to participate in the Inmex Vietnam 2013, in HCM City in early March 2013.

State-owned groups have continued asking the government for financial support, putting more pressure on the state budget.

Vietnam and the UK have agreed to raise two-way trade turnover to $4 billion in 2013 with the latter’s foreign direct investment in Vietnam reaching $3 billion.

The hotel sector in Asia is expected to grow strongly with a compound annual growth rate of 7% in the 2012-2016 period, with Vietnam obtaining the highest growth of up to 15%.

The State Bank of Vietnam has announced plans to buy back gold from the public in a bid to resolve the problem of gold hoarding by wary savers.

Three international agencies have jointly financed a USD800 million project to help ensure a stable power supply.

The National Assembly has set target GDP growth rate of 5.5% and a 10% increase in export revenues next year.

The interest rates will surely not decrease. If the biggest problem of 2011 was the weak liquidity, the problem of 2012 and 2013 is the bad debt.

Vietnam will team up with the Republic of Korea and Denmark to promote green growth - an issue that was set forth in the country’s Green Growth Strategy for 2012-2020, and to 2050.

Experts called for the corporate income tax to be cut from 25% to 20% as soon as next year to help enterprises overcome the economic downturn.

The prevention of dollarisation and goldenisation has yielded initial outcomes in the Vietnamese market.

After declining during the first five months of the year, lending by the nation's commercial banks began to expand in June and has now risen 3.3% over the same period last year.

Vietnam’s government has granted permission to domestic Internet providers to invest in a Southeast and East Asia undersea Internet cable, with the aim of improving the country’s Internet speed.

Around 100,000 businesses are forecast to close between 2011 and 2012. The figure is equal to half of the figures over the entire past two decades.

G20 powers confronted threats to the world economy, with Europe and the US under pressure to resolve fiscal challenges.

The car sales have increased slightly after automobile manufacturers launched a series of new models. However, high hopes would be put in the last two months of the year.

Indirect foreign investors have been more hesitant to invest in Vietnam since the beginning of this year, experts said.

Rice exports could reach a record high of 7.5 – 7.7 million tonnes this year, with shipments in the two remaining months exceeding a million tonnes, one agency has said.