Business

Foreign tourists to Vietnam are willing to pay more for local food, resorts, and interesting places, a survey by the Vietnam National Administration of Tourism has found.

Agro-forestry-aquaculture products are estimated to fetch $1.8 billion in export revenue in January, a decrease of 16.3 percent against the same period last year.

Even though the market slowed down in 2011, domestic demand for steel is forecast to increase by 4% in 2012.

Rating agency Fitch downgraded five eurozone countries, citing their vulnerability to sharp turns in market sentiment amid Europe's debt crisis.

The value of the web economy in G20 countries will nearly double by 2016, according to Boston Consulting Group.

Private-owned businesses pay little attention to support industries because of their small market scale and the absence of incentive policies for this field.

Japan's Shin-Etsu Chemical Co will set up two companies specialising in manufacturing silicone-based materials for high-brightness LED lights, and refining rare earth minerals in Vietnam

Vietnam earned USD6.5 billion in exports in January, down by 28.5 percent from last December and 11.1 percent for the same period last year, said the Ministry of Industry and Trade.

The International Monetary Fund slashed its forecast for world economic growth.

PM Nguyen Tan Dung issued a circular banning export of certain minerals to deal with the increasing violations in mineral exploration, processing and export.

The estimates for Vietnam’s consumer price index in January were just a 1% increase against December 2011.

The recent hikes in car registration and license-plate fees have worsened things for the automobile market, which was already struggling due to the economic downturn.

Vietnam’s exports, imports and trade deficit decreased dramatically in the first month of 2012, according to the General Statistics Office.

The Government has decided to cease licensing new bauxite exploration projects in northern regions.

Purchasing power does not drastically increase in the month approaching Tet to reduce the pressure of inflation this January, Hanoi Statistics Office has said.

The G20 group of powerful economies agrees on the need to boost IMF resources but has not yet discussed figures, according to a meeting on Friday.

Petroleum traders have been requested to maintain petrol prices throughout the Tet holiday, and will increase the use of the petrol price stabilisation fund.

Labourers’ average salary reached VND3.84 million (USD182.54) per month in 2011, according to a new report.

Domestic shrimp exporters will boost their shipments to Asian markets this year, said a local official.