Việt Nam News

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.

Việt Nam will keep attracting investment, expanding export production and watching domestic consumption spread in 2017, according to Forbes' forecast.

The Krông Nô Joint Stock Company of the Trung Nam Group started operations of its Krông Nô 2 hydro-power plant in the Central Highlands province of Lâm Đồng on Saturday, supplying 105.87 million kilowatts per hour to the national grid.

Prime Minister Nguyễn Xuân Phúc has urged agencies at all levels to continue to enhance reforms and resolve any issues to sustain growth in 2017.

Vietnamese enterprises should strive to promote Vietnamese products in the global market and improve their share in the home market, President Trần Đại Quang said on Saturday at a meeting with 115 businessmen in Hà Nội. 

Giant steel maker Hoa Sen Group (HSG) targets revenues of VNĐ23 trillion (US$1 billion) for the fiscal year 2016-17, HSG announced at its annual shareholders’ meeting, in HCM City late last week.

The benchmark VN-Index will soon face resistance at 680 to 690 points, as short-term profit-taking activities are forecast to intensify early this week.

State budget revenues surpassed the yearly target to hit VNĐ1.1 quadrillion (US$48.4 billion) as of December 31, 2016, up 7.8 per cent or VNĐ79.6 trillion higher than the target.

By developing an agricultural value chain, the southern province of Tây Ninh expects to raise its agricultural GDP and average farmer income per year from the current figures of US$3 billion and $1,500 to $8 billion and $5,000, respectively, after five years.

As of December 7 the treasury had raised more than VNĐ280 trillion by auctioning Government bonds, achieving the target for the year.

The Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD) has set a goal of US$7.1 billion in seafood export revenues this year, about the same as the 2016 exports.

The State Bank of Việt Nam (SBV) continued to decrease the reference US$/VNĐ exchange rate yesterday by 5 đồng to touch VNĐ22,154 per $1dollar.