The US dollar today continuously strengthened against the Vietnamese đồng at local banks and on the informal domestic market.

Many textile and garment enterprises are investing in textile and dyeing complexes to ensure material for sustainable development, Vietnam Television (VTV)reported recently.

Deepening structural reforms is crucial to Việt Nam’s growth, World Bank Country Director Ousmane Dione said as the organisation released a biannual review of the country’s economic performance in Hà Nội yesterday.

Việt Nam has become the second Asian country to achieve a fine flavour cocoa (FFC) designation from the International Cocoa Organisation (ICCO).

Despite failing to hit the yearly target of 8.5-9 per cent, Hà Nội’s economic growth in 2016 has hit its highest level in six years, reaching 8.03 per cent, Deputy Chairman of the municipal People’s Committee Nguyễn Doãn Toản said yesterday.

The private sector would be a crucial factor in national economic development, namely foreign direct investment (FDI) companies, said Prime Minister Nguyễn Xuân Phúc in his speech at the 2016 Annual Vietnam Business Forum held yesterday in Hà Nội.

Shares continued last week’s decline yesterday on the two national stock exchanges as traders continued to sell riskier assets on fears of a further decline on the back of untamed selling by foreign traders.

The domestic retail price of petroleum increased by VNĐ304 to reach VNĐ16,675 (74 US cents) per litre as of 7pm yesterday, the Ministry of Industry and Trade (MoIT) said.The price of E5 RON 92 biofuel also rose by VNĐ301 to VNĐ16,522 per litre. The prices of diesel and kerosene went up by VNĐ163 and VNĐ244 to VNĐ12,672 and VNĐ11,290 per litre, respectively. The price of mazut was VNĐ9,962 per kg, an increase of VNĐ275.

South Korea-based Nonghyup Bank has officially opened a branch in Hà Nội after receiving an official license from the State Bank of Việt Nam.