Việt Nam News

The southernmost province of Cà Mau has established a so-called soil bank composed of mud collected from rivers to make alternative materials for sand in construction.

The ‘One commune one product (OCOP)’ fair aims to honour Viet Nam’s high-quality agro-forestry-fisheries products which are well-known in domestic and foreign markets, organisers said a press conference in Hà Nội on Tuesday.

A B2B meeting was organised by the Việt Nam Chamber of Commerce and Industry and K-Fish Trade Support Centre in HCM City to provide networking opportunities for 12 Korean and 50 Vietnamese seafood companies.

Việt Nam’s merger and acquisition (M&A) market hit over the 10-billion-dollar landmark for the first time in 2017 and is at the turning point to reach a new era with new opportunities in the next decade.

Việt Nam’s catfish exports have been robust this year but the country’s overwhelming dependence on the increasingly competitive Chinese market remains a matter of risk.

Prime Minister Nguyễn Xuân Phúc stressed the need to shift from pre-inspection to post-inspection, issue regulations and standards on evaluation of transparency, and reduce unnecessary conditions for enhancing production.

Vietnamese shares narrowed down a sharp decline on Tuesday as investment switched to mid-cap and small-cap stocks while large-cap firms were seen to move downward due to rising profit-taking pressure.

The total assets held by Việt Nam’s credit institutions reached more than VNĐ10.3 quadrillion (US$447.8 billion) by the end of May, an increase of 3.27 per cent over the beginning of this year, the latest report from the State Bank of Việt Nam (SBV) showed.

Hậu Giang Pharmaceutical Joint Stock Company, one of the leading companies in the pharmaceutical cosmetics industry, recorded profit of VNĐ190 billion (US$4.3 million) in the second quarter of this year, up 6 per cent on-year.

The State Bank of Việt Nam’s Operation Centre on Tuesday increased the sale price of the US dollar for commercial banks by VNĐ11 to VNĐ23,284.

The Việt Nam Bank for Social Policies (VBSP) raised VNĐ150 billion (US$6.5 million) at the latest auction of Government-guaranteed bonds on the Hà Nội Stock Exchange (HNX) held on Monday. 

The outlook looks bright for two-way trade between Việt Nam and the Czech Republic, as the two countries’ import-export turnover in the first five months of this year reached nearly US$464.5 million, up 15.6 per cent from the same period last year. 

HDBank, one of Việt Nam’s largest joint stock commercial banks, set up its first branch in Thái Nguyên Province on July 20, providing financial services such as loans, money transfers, and saving accounts, as well as highly-paid job opportunities for locals.

Cigarette smuggling has caused a loss of thousands of billions of Vietnamese đồng each year for the state, according to figures released by the Việt Nam Tobacco Association at a symposium held yesterday in Cần Thơ.

Việt Nam’s motorcycle market has been rapidly growing in recent years, bucking expectations that it would enter a saturation stage, as consumption shifts from semi-automatic motorbikes to scooters and from widely popular scooters to luxury vehicles.

The Government will have to decide either to devalue the Vietnamese đồng further against the US dollar to support exports and avoid cheaper Chinese goods to flood in the local market, or keep the dollar/đồng exchange rate stable to avoid increased public debt and control inflation as the US-China trade war accelerates.

A large number of poor people and women in Việt Nam have not accessed mobile banking.

The benchmark VN-Index on Monday bounced back from a fall on Friday thanks to the increases of individual large-cap stocks.