Business

The Hongkong and Shanghai Banking Corporation has predicted that the weaker import demand and a controlled weakening of the exchange rate by the SBV will help stabilise VND in 2012.

It is necessary to restructure state-owned enterprises so as to change their role in the economy, said one economist.

Vietnamese authorities have agreed in principle that they will remove 83 octane gasoline from circulation because of safety concerns.

The Government will suspend new economic zones in order to focus on developing the existing projects.

The lower comparative advantage of price, instability in the Middle East and the debt crisis in Europe have all adversely affected Vietnam’s farm product exports.

Iran ordered a halt to its oil sales to Britain and France in a move seen as retaliation against tightening EU sanctions.

Around USD1.4 billion will be needed to build a new Hanoi-Lang Son expressway, with USD500 million in support from the Asian Development Bank.

Several securities companies have halted operations or changed addresses without notice as a result of a lingeringly gloomy market.

2012 will be a good year for real estate investors despite the difficulties on the horizon, said real estate service firm CBRE.

The World Bank (WB) will provide Vietnam with financial and technical assistance to restructure State-owned enterprises, said WB Country Director Victoria Kwakwa.

Vinashin still owes VND292.148 billion in unpaid debts to the Vietnam Development Bank as of January 31.

Some big banks have started to lower interest rates and more banks are expected to follow suit to cut interest rates by around 1%.

At least 15 major transport projects will be carefully audited for the quality of their management and construction.

The annual value of mobile phone and components exports of Vietnam is forecast to reach USD12 billion by the end of 2012, according to the Ministry of Industry and Trade.

Low-income people who want to buy their own house need support in saving and the establishment of a fund would be vital, an official has said.

People registering for unemployment benefits in HCMC is on the rise, even among those who worked in high-level positions.

Due to inefficiencies related to the country's 3G mobile service providers, the licence for the more modern 4G service will be put on hold until around 2018, experts have said.

While a large number of enterprises in Vietnam are struggling, a number of large corporations have earned large profits.

The central bank offers a money exchange to traders for burnt currency from the fire at Quang Ngai Market, an official said.