Moody’s Investors Service on Tuesday upgraded the ratings of many Vietnamese banks, reflecting its expectation that the strong economic growth in Việt Nam will support the asset quality and profitability of the banks.

The Bank for Investment and Development of Vietnam (BIDV) expects to issue 603 million new shares to South Korea’s KEB Hana Bank in a move to raise its charter capital to VNĐ40.22 trillion (US$1.72 billion).

Vissan Joint Stock Company, the country’s leading food producer, will increase supply by 15-20 per cent for Tết (Lunar New Year) in early 2019, including 3,200 tonnes of fresh meat and 2,800 tonnes of processed foods.

The recently concluded METALEX Vietnam received more than 18,840 manufacturing businesspeople who came to source new technologies and seek business opportunities.

The Vietnam Dairy Products Joint Stock Company (Vinamilk) has reported its Q3 combined revenue rose 3.3 per cent year-on-year to VNĐ13.73 trillion (US$610.2 million).

Many localities have reported difficulties in implementing a recent Government decree on the management and development of industrial clusters, said Ngô Quang Trung, head of the Ministry of Industry and Trade’s Department of Local Industry and Trade.

More than 109,610 new enterprises were formed in the first 10 months of this year with a total capital of VNĐ1.12 quadrillion (US$48.1 billion).

The revenue mainly came from chemicals business, the company said, adding that over the past nine months, its revenue from sales in Việt Nam stood at VNĐ22.65 trillion ($989 million).

Singapore-based property technology group PropertyGuru has increased its investment in batdongsan.com.vn to hold a controlling stake in Việt Nam’s leading property portal, the two companies announced at a press conference in Hà Nội on Wednesday.

PetroVietnam has called on National Assembly deputies to propose creating favourable conditions to speed up the Block B-Ô Môn Gas project which is behind schedule.

Prime Minister Nguyễn Xuân Phúc received Vice Chairman of Samsung Group Lee Jae-yong in Hà Nội on Tuesday, and took the oppurtunity to ask the South Korea-based firm to expand its investment and turn Việt Nam into its largest production hub.

The domestic automobile parts industry has failed to reach the set target despite support from the Government, said Nguyễn Thị Tuệ Anh, deputy director of the Central Institute for Economic Management (CIEM).

The Ministry of Finance was urged to make greater efforts in tax and customs reforms which would help enhance competitiveness for enterprises in the context of rapid integration, attendees heard at a workshop on Tuesday.

The Central Highlands province of Đắk Lắk wants to establish long-term co-operation with HCM City to promote consumption of its agricultural products, according to a provincial official.

More foreign-invested enterprises are expected to relocate or open in the Southern Focal Economic Zone in the last quarter of 2018.

Rising caution among investors about poor general market conditions put an end to a short-lived recovery on Tuesday.

Korean Air has launched a direct flight to connect Da Nang with Busan, Korea, offering 21 flights per week between the two cities.

Việt Nam’s biggest bookstore chain, the HCM City Book Distribution Joint Stock Company (Fahasa), will debut over nine million shares on the Unlisted Public Company Market (UPCoM) on November 1 with the code FHS.