Economy

New industrial zone to lure Japanese firms

Construction of the Phu My 3 Industrial Zone starts today in the south-eastern province of Ba Ria Vung Tau to predominantly house Japanese companies. Viet Nam News spoke to Nguyen Thi Thao Nhi, CEO of the Thanh Binh Phu My Joint Stock Company, the major investor in the zone, about its strengths and commitment to the province's development.

Binh Duong export value up 16% in five months

Local export enterprises in the southern province of Binh Duong had signed contracts to export products until the end of the year, said an official from the Binh Duong Province's Association of Exporters and Importers.

Tonkin Gulf oil exploration accord signed

The fourth amended agreement for the Viet Nam-China Joint Exploration Accord for the Bac Bo (Tonkin) Gulf, signed by PetroVietnam and the China National Offshore Oil Corporation (CNOOC) yesterday expanded the Defined Area, crossed by the demarcation line, for joint exploration to 4,076sq km from 1,541sq km, covering two equal parts on each side, and extended the validity of the Joint Exploration Accord to the end of 2016.

Assembly cuts corporate income tax

National Assembly deputies yesterday adopted four laws, one of them will regulate a lower corporate income tax from next year.

Banks must do more to fight money laundering

Banks show little interest in training their staff to deal with money laundering and should pay more attention to combating the flow of dirty money, experts warn.

Foreign companies join manufacturing trade show

More than 300 exhibitors from 21 countries and territories will showcase their latest products and services at Viet Nam's leading manufacturing solutions trade show early next month.

Thaco to produce truck engines

Truong Hai Automobile company (Thaco) planned to produce 20,000 diesel engines for trucks and buses from next year, the company's deputy general director Pham Van Tai confirmed yesterday.

Luxembourg helps local finance sector to develop

Viet Nam has praised the Government of Luxembourg's co-operation and support, especially in the finance sector.

Banks offer low rate loans to businesses

Sacombank and seven other banks yesterday signed credit contracts worth more than VND1,209 billion (US$57.5 million) to support 44 businesses and six households in District 9 and Thu Duc District.

Recovery of blue chips buoys VN index

Shares continued to sway between gains and losses in the afternoon before closing slightly higher on both stock exchanges yesterday.

Target on ODA disbursement ‘is within reach'

Viet Nam is on track to fulfil its target of attracting US$32-34 billion in Official Development Assistance (ODA) and preferential loans during the 2011-15 period, along with capital disbursement of $14-16 billion.

Business Insight

Industry insider assesses insurance market

"I believe that life insurance products with a focus on investments have a great future in Viet Nam," Ly Nhon , chief financial officer, AIA Vietnam and an International financial expert, told the Viet Nam News on the outlook of financial offerings.

Banking - Finance

Banks offer low rate loans to businesses

Sacombank and seven other banks yesterday signed credit contracts worth more than VND1,209 billion (US$57.5 million) to support 44 businesses and six households in District 9 and Thu Duc District.