Việt Nam News

 The Vietnam-Italy Steel JSC (VIS) plans to lift the cap of foreign ownership in the company from the current limit of 49 per cent.

Foreign-invested pharmaceutical companies in Việt Nam and legal experts think there is room for administrative improvement regarding current policies on imports and distribution.

President Trần Đại Quang lauded external economic activities and trade promotion abroad during a meeting in Hà Nội on Thursday with 45 commercial counsellors and chiefs of Vietnamese commercial offices overseas. 

Despite the high devaluation of the Vietnamese đồng against the US dollar after Tết (Lunar New Year) holidays, experts believe the exchange rate will remain stable this year.

The Cần Thơ People’s Committee has called for industrial reform as the city’s Industrial Production Index (IPI) is not growing as quickly as in other cities.  

Local business conditions have strengthened continuously since December 2015, pushing the Vietnam Manufacturing Purchasing Managers’ Index (PMI) to a 10-month high of 53.5.

Fitch Ratings on Tuesday upgraded the long-term issuer default rating (IDR) of Military Commercial Joint Stock Bank (Military Bank) to ‘B+’ from ‘B’ with a stable outlook. Fitch also upgraded the bank’s viability rating to ‘b+’ from ‘b’.

Nearly 18,703 new enterprises were formed in the country in the first two months of this year, with a total registered capital of more than VNĐ197.3 trillion (US$8.66 billion).

Mai Tiến Dũng, Chairman of the Government Office and head of the Prime Minister’s working group, set a June 30 deadline for ministries to finish cutting a substantial amount of cumbersome administrative procedures and business permits that have long obstructed Việt Nam’s business community.

Vietnamese importers have temporarily stopped buying raw cashew from Africa due to a surge in prices, according to the Việt Nam Cashew Association (Vinacas).

 Shares rose for the fourth consecutive day yesterday on the HCM City Stock Exchange, largely on the strength of a handful of banking and energy blue-chips.

Việt Nam News reporter Phương Uyên talks to Gibs S. Song, a partner at California-based venture capital company Big Basin Capital and start-up investor in Việt Nam, about the key to the country’s start-up development and the possibility of a venture capital investment system.

With a record high of nearly US$13.8 billion in remittances last year, Việt Nam now ranks 10th among the top recipients of remittances globally.

The consumer price index (CPI) in February edged up 0.73 per cent month-on-month and 3.15 per cent year-on-year, the General Statistics Office (GSO) reported yesterday.

The special State capital management committee, which was formed by the Government in early February, may take charge of supervising VNĐ5 quadrillion (US$222.2 billion) worth of State capital in 21 State-owned enterprises.

Nguyễn Chiến Thắng, director of HCM City-based wood products maker Scansia Pacific, said his company has export orders for the whole year, which are 25 per cent up from 2017.

The Vietnam Association of Seafood Exporters and Producers (VASEP) will furthern help Việt Nam overcome the European Commission’s illegal, unreported and unregulated fishing (IUU) yellow card on Vietnamese fisheries.

Japan’s Juroku Bank Ltd will open a representative office in Hà Nội next month after getting a licence from State Bank of Việt Nam (SBV) in early February.