Three business groups in Việt Nam and the US signed an MOU yesterday to establish an alliance to promote sustainable economic development between HCM City and Los Angeles.

Nearly 76,000 new enterprises were established in Việt Nam in the first seven months of this year, with total registered capital of VNĐ771 trillion (US$33.82 billion).

Việt Nam is among the top three investment destinations in Southeast Asia for Singapore-based companies in the next two years, according to the latest HSBC study.

Việt Nam’s index of industrial production (IIP) scored a growth of 10.9 per cent in the first seven months of this year, up 7.1 per cent against the same period last year, the General Statistics Office announced.

The Ministry of Industry and Trade (MoIT) plans to publish a list of e-commerce websites and mobile applications that violate laws and regulations on online trading.

The People’s Committee of Kiên Giang Province has announced a list of projects calling for investment, including 12 resort projects with total investment capital of VNĐ1.7 trillion (US$72.96 million). Plans for the projects have not yet been finalised.

The Ministry of Transport (MoT) has registered to buy 164.73 million shares of Vietnam Airlines, a move which will maintain its holding in the national flag carrier at 86.16 per cent.

The profitability of Vietnamese banks is strengthening as robust economic growth fuels credit demand and supports an improvement in asset quality, but challenges are also apparent, Moody’s Investors Service says in a recent report.

The United States has maintained its leading position as Việt Nam's largest export market having spent US$21.6 billion on Vietnamese products in the first half of the year, accounting for 19 per cent of the country’s total export value as of July 15.