Deputy Minister Vương Đình Huệ urged the State Audit of Việt Nam (SAV) to pay more attention to human resource management at State-owned enterprises (SOEs) when auditing their activities.

Việt Nam is expected to export 360,000 tonnes of cashews for a value of US$3 billion this year, an increase of 3.4 per cent in volume and 5.6 per cent in value over last year, according to the Việt Nam Cashew Association.

Shares surged yesterday on the two national stock exchanges, led by bank stocks, on expectations that the Government would allow banks to raise the limit of foreign ownership this year.

Prime Minister Nguyễn Xuân Phúc said Việt Nam expects Japan to become its top investor, with more high-tech investments in areas such as green growth, infrastructure development, high-quality agriculture and services as well as privatisation of State-owned enterprises.

The Trường Hải Automobile Company (Thaco) and Korean LS Mtron company inked an agreement on co-operation in agricultural machinery manufacturing and distribution in Việt Nam and abroad, starting in October 2017.

Prime Minister Nguyễn Xuân Phúc’s attendance at the annual summit of the World Economic Forum (WEF) in Davos, Switzerland, will highlight Vietnam’s determination to promote comprehensive reform and international integration, said Dương Chí Dũng, Vietnamese Ambassador to Switzerland.

The State Bank of Việt Nam (SBV) has issued a new circular to prepare for the application of BASEL II standards in the domestic banking system.

Việt Nam will increase the limits of foreign ownership in banks as early as this year to quicken the overhaul of the nation’s banking system and further lure overseas investments to boost economic growth, Prime Minister Nguyễn Xuân Phúc said.

Việt Nam will continue to supply up to 1.5 million tonnes of rice per year to the Philippines following the extension of the rice trade agreement between the two countries.