Việt Nam News

The People’s Committee of the northern province of Vĩnh Phúc on Sunday evening opened a socio-economic achievement exhibition and trade fair to celebrate 20 years of re-establishment.

As many as 150 domestic businesses are displaying various products at over 300 pavilions at an industry-agriculture-trade fair, which opened in the central province of Bình Thuận on December 24.

The higher dollar interest rate has caused many people to keep their money in the US instead of remitting it to Việt Nam, where the interest rate on dollar deposits is zero per cent.

The Vinpearl Cần Thơ Hotel, the first five-star hotel in the southern city of Cần Thơ, was inaugurated last weekend, becoming the tallest building in the Mekong Delta region.

Việt Nam estimated to gain US$7.3 billion from the export value of wood and wooden products this year, a slight increase of 1 per cent year on year, reported the Ministry of Agriculture and Rural Development’s General Department of Forestry.

Trading is set to remain quiet with lower liquidity this week as investors tend to keep their accounts secure ahead of the year-end holiday.

The disbursement of the housing stimulus package, valued at VNĐ30 trillion (US$1.4 billion) in preferential loans, will finish on schedule, according to the State Bank of Việt Nam (SBV).

Land prices in HCM City and neigbouring provinces are increasing, with real estate industry insiders attributing it to high liquidity.

HCM City housing developers will shift from luxury apartments to the mid- and low-end segments next year, experts have said.

Hà Nội-based Việt Nam Investment Group Joint Stock Company is set to become the largest shareholder of property developer Vingroup, after acquiring more shares of this company.

Provinces and cities in the Southern Key Economic Region should strengthen their linkages to enable the region to capitalise on its development potential, a seminar heard in HCM City yesterday.

Representatives from four of Việt Nam’s largest telecommunication companies reported very large revenues in 2016, with significant improvements over 2015, at a conference held by the Ministry of Information and Communications (MIC) in Hà Nội yesterday.

Việt Nam’s stock market has kept its nose ahead in 2016 despite several negative impacts of international events. The 10 biggest events on the securities market in 2016 were announced yesterday.

The Ministry of Industry and Trade (MoIT) will hire a foreign consultancy firm to evaluate its draft master plan for steel production by 2025 and its vision till 2035.

The recent launch of motorbike models with high-engine displacement has attracted the Vietnamese and stirred the domestic market, even though import prices are 2-3 times higher than world prices.

Việt Nam is expected to adopt International Financial Reporting Standards (IFRS) instead of the current Vietnamese accounting standards (VAS) by 2025 in its efforts to enhance comparability and improve transparency.

Stocks on the HCM Stock Exchange edged up in the last trading minutes yesterday, but the overall market condition was negative as investors remained cautious prior to year-end holidays.

Dung Quất Refinery is working with foreign oil groups to seek strategic investments for its privatisation, which is expected to be carried out in 2017.