Việt Nam News

The State Bank of Việt Nam has asked its branches and credit institutions nationwide to report quarterly their lending to small-and medium-sized enterprises (SMEs).

Two giant State-owned corporations, Vietnam National Petroleum Group (Petrolimex) and Viet Nam Steel Corporation (VNSTEEL), achieved record profits last year, according to a conference held by the Party Organisation of the Central Enterprises Bloc (CEB) on Monday.

Products including telephones and spare parts, garment and textile, electronics and computers are expected to bring highest export turnover to the country in 2017, said the Ministry of Industry and Trade.

The State Bank of Việt Nam (SBV) will co-operate with relevant agencies to map out a "special" law to boost bank restructuring and settle bad debts in 2017, according to SBV Governor Lê Minh Hưng.

The Hà Nội innovative business incubator of information technology (HBI-IT) was put into use on Monday at 185 Giảng Võ Street. 

Vietnam News Agency’s reporter from Sydney reported that a ban on green and raw shrimp to Australia from Asia, including Viet Nam, took effect on Monday.

The Việt Nam Textile and Garment Group (Vinatex) will mobilise VNĐ5 trillion (US$242 million) for fibre, textile and garment development to boost this year's production.

The Ministry of Trade and Industry (MoIT) and military-owned telecom company Viettel Group on Monday signed a cooperation agreement on applying information technology (IT) to build e-governance and e-commerce infrastructure.

Việt Nam’s steel industry plans to produce 5.5 million tonnes of crude steel and 5.8 million tonnes of rolled steel this year, according to the Ministry of Industry and Trade. Those figures represent a year-on-year increase of 16.6 per cent for crude steel and 18 per cent for rolled steel output.

Many large and unexpected merger and acquisition (M&A) deals were made in 2016, with retail and real estate continuing to dominate the domestic market.

Automobile rentals have doubled in price in the run-up to Tết (Lunar New Year), which begins in late January.

The trade and industry sector in HCM City plans to offer more support to local companies this year, Phạm Thành Kiên, director of HCM City’s Department of Industry and Trade, said at a meeting reviewing the sector’s activities last year.

Settlement of bad debts has shown positive signs after some banks announced they would buy back all their non-performing loans they sold to the Việt Nam Asset Management Company (VAMC).

Shares extended rallies on the two local exchanges yesterday, driven by finance-banking and energy stocks.

Deputy Prime Minister Vương Đình Huệ has signed a policy decision encouraging cash-free transactions in Việt Nam in order to reduce the number of cash-based deals, improve overall electronic payment methods and control tax evasion.

More than 564.4 million shares of Vietnam International Bank (VIB) made their debut on the Unlisted Public Company Market (UPCoM) on Monday.

The Bank for Foreign Trade of Việt Nam (Vietcombank)’s pre-tax profit hit a record high of VNĐ8.212 billion (US$361.76 million) in 2016, up 23.4 per cent against 2015.