Vietnam 

MoF urges PVN to accelerate divestment in sensitive sectors – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

PVN has been asked to accelerate its divestment from enterprises which operate in sensitive sectors, such as securities and investment funds. — Photo pvn.vn Viet Nam News HÀ NỘI — The Ministry of Finance (MoF) has asked the Vietnam Oil and Gas Group (PVN) to accelerate its divestment in enterprises operating in sensitive sectors. This request was part of an MoF document in response to PVN’s petition on restructuring, equitisation and divestment in enterprises. According to the MoF, the Prime Minister issued document No 1182/TTg-ĐMDN approving the list of…

Read More
Vietnam 

Việt Nam posts trade deficit of $5.2 billion with China in first two months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Việt Nam had a trade deficit of US$5.2 billion with China in the first two months of this year. — Photo dantri.com.vn Viet Nam News HÀ NỘI — Việt Nam posted a trade deficit of US$5.2 billion with China in the first two months of this year, according to the General Department of Customs. During the first two months, Việt Nam’s export value to China fell 16 per cent to $4.7 billion year-on-year. China is the second largest export market for Việt Nam behind the US, accounting…

Read More
Vietnam 

Hapro sells Chu Đậu shares to BRG Group – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Chu Đậu pottery in Việt Nam. — VNA/VNS Photo Thống Nhất Viet Nam News HÀ NỘI — Hà Nội Trade Corporation (Hapro) is planning to transfer 420,000 shares in Chu Đậu Ceramic JSC to BRG Group JSC. Chu Đậu JSC is one of ten affiliates of Hapro. As of 2018, Hapro owned 51 per cent of Chu Đậu JSC. After the transfer, the corporation will hold 30 per cent. The shares, equivalent to 21 per cent of the company, will be sold for VNĐ13,500 each, or VNĐ5.67…

Read More
Vietnam 

New policy to speed up bad debt settlement – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – The central bank is drafting a new circular regulating credit institutions’ trading and handling of non-performing loans (NPL) with the aim of forcing the institutions to focus more on bad debt settlement. Under the draft, private credit institutions, which still hold special bonds issued by the Việt Nam Asset Management Company (VAMC) – meaning they have not settled bad debts kept at the VAMC yet – will not be allowed to make dividend payments in cash. The fund must instead be used to handle…

Read More
Vietnam 

Gov’t takes bold measures to ensure safety of finance system – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

There were 1,181 people’s credit funds operating in 57 cities and provinces by the end of June last year.—VNA/VNS Photo Viet Nam News HÀ NỘI — Poorly-performing State-owned people’s credit funds – a type of credit institution focusing on people in rural areas to help them escape poverty and avoid dependence on loan sharks – will be merged, acquired or dissolved to ensure the safety of the country’s finance and banking system. The plan was part of a directive released last week by Prime Minister Nguyễn Xuân Phúc…

Read More
Vietnam 

Food processing industry sees stable growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Foreign and domestic investment has led to an annual growth rate of 10 per cent for the food processing industry sector in recent years The industry has supplied highly competitive products to both domestic and foreign markets, while export turnover for processed and agricultural products totalled more than US$40 billion last year, according to the Trade Promotion Agency under the Ministry of Industry and Trade. Vietnamese products have also reached multiple technical standards and are present in many countries, including the…

Read More
Vietnam 

Vietnamese companies urged to prepare for impacts of US-China trade spat – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — With trade protectionism increasing, Vietnamese companies should prepare for trade-related lawsuits and disputes but also capitalise on possible opportunities from the ongoing US-China trade war, a top trade remedy official has said. Speaking at a meeting last Friday, Chu Thắng Trung, deputy head of the Trade Remedies Authority of Việt Nam, said: “The trade war between the two largest economies has affected the flow of goods with the US increasing its trade safeguard investigations of major exporters, including Việt Nam. “The trade war…

Read More
Vietnam 

Market trend hard to predict after difficult week – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Investors should keep a careful watch over the market as price movements have been sensitive and showed no certain trends, analysts said. The benchmark VN-Index on the Ho Chi Minh Stock Exchange recouped 0.71 per cent on Friday to close the week at 988.71 points. Its weekly loss totalled 1.54 per cent. The minor HNX-Index on the Ha Noi Stock Exchange edged up 0.26 per cent to end Friday at 108.09 points, marking a decrease of 2.13 per cent over the…

Read More
Vietnam 

HCM City solicits foreign-invested firms’ support to develop economy – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — HCM City has called on foreign-owned enterprises to further contribute to its development by sharing their experience, ideas and technologies as well as investing in large projects. Speaking at a meeting between city leaders and executives from foreign companies in HCM City last Saturday, Nguyễn Thiện Nhân, Secretary of the city Party Committee, said the city’s economy expanded by 8.3 per cent last year to VNĐ1,330 trillion (US$57 billion). It had attracted $7.39 billion worth of FDI, up 15 per cent…

Read More
Vietnam 

HCM City transport authorities, firms discuss problems at dialogue – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY – HCM City need to keep overloaded trucks and drivers high on drugs off roads and reduce road maintenance and toll fees, transport companies told city authorities at a dialogue on Saturday. Bùi Văn Quản, chairman of the HCM City Goods Transportation Association, said authorities should help businesses with driver recruitment, identifying people using fake driving licences or guilty of violations in the past. There was a lack of parking space in Districts 2, 9 and Thủ Đức, and the Department of…

Read More