Business

An investigation has been launched into state-owned firm Vicem, after they reported debts totaling thousands of billions of VND.

Workplace abuses were uncovered in an audit that equated to "a full body scan" of three Chinese factories pumping out coveted Apple gadgets, independent investigators reported.

Vietnam's textile and garment sector is likely to face challenges this year to reach its target of USD18.5-19 billion export turnover, said an official of the Vietnam Textile and Apparel Association.

Owners of mini-apartments in Hanoi are finding it difficult to gain land use certificates.

Index of industrial production in the first quarter of this year surged only 4.1% over the same period last year, the General Statistics Office reported.

Over 2,200 enterprises nation-wide had filed for bankruptcy from the start of the year until March 21, a report said.

The Can Tho municipal government will act as an arbitrator in the settlement of debts owed by Bianfishco, an official said.

Facebook has warned potential investors that a patent lawsuitagainst the company by Internet pioneer Yahoo! could deliver a significant blow to its business.

Demand for travel continues to rise in the lead up to the forthcoming holidays at the end of April.

Vietnamese companies are expected to export some 3.2 million tonnes of rice in the first quarter of 2012, up 15% on-year, according to the Vietnam Food Association.

Can Tho government has requested the CEO of Bianfishco to return Vietnam to settle her debts.

The former chairman and general director of troubled shipbuilder Vinashin will appear in court to account for their alleged business misconducts.

Japan took the lead among countries and territories investing in Vietnam with new projects worth USD2.3 billion in Q1 2012.

Mini supermarkets specializing in selling foreign products have recently mushroomed in Hanoi, putting on shelf a number of products which are, however, not officially brought to the country.

Bien Hoa Confectionery Company shareholders are worried that its brand name may be replaced by South Korean brand, Lotte.

Vietnam’s total import-export turnover was estimated at US$50 billion in the first quarter of the year, according to the General Statistics Office.

The first two months of 2012 witnessed a sharp year-on-year increase in exports of rubber products; but statistics showed that rubber exports remain dependent on a limited number of key markets.

The deputy minister of Industry and Trade just signed a decision to revoke the export and import license of Mekong Petroleum Joint Stock Co.

Mergers and acquisitions are on the rise as investors seek to be more profitable and avoid going bankrupt.