Việt Nam's trade deficit was estimated to have reached US$3.08 billion in the first seven months of this year, $380 million more than $2.7 billion in the first half, according to the latest data released by the General Statistics Office (GSO).
Starting yesterday, only pork with traceable origins is ostensibly allowed to enter HCM City’s two wholesale markets, but inspections by authorities found that only around 13 per cent of the pork in the markets actually had clear origins, according to the Department of Industry and Trade.
The Sài Gòn Phát Thịnh Joint Stock Company has been licensed by the Ministry of Finance to provide credit rating services, the first of its kind in Việt Nam.
Chinese tourist arrivals in Việt Nam reached 2.2 million during January to July, up 51 percent year on year, with the figure expected to rise thanks to the launch of a direct air route between Việt Nam’s Đà Nẵng city and China’s Zunyi city.
The private sector is an important driver of economic development, Prime Minister Nguyễn Xuân Phúc said at the second Việt Nam Private Sector Forum held in Hà Nội on Monday.
The central bank’s reduction in refinancing and rediscount rates is expected to help improve the efficiency of the banks’ bad debt settlement.
The Ministry of Finance has refused to reduce tax rates for the coal industry, citing the fact that tax reduction is beyond the Government’s authority.
Việt Nam can no longer rely on the increasing investment by the public sector and exploitation of natural resources to drive its economic growth in the future, the Prime Minister’s newly established economic council warned in its very first meeting.
As the demand for imported beef soars, Australian exporters are strengthening their market share in Việt Nam, but the situation is fraught with risk, experts say.
The Vietnamese rice market is expected to be stable in the third quarter of the year, chairman of the Vietnam Food Association (VFA) Huỳnh Thế Năng has said.
Việt Nam’s monthly consumer price index (CPI) in July rose again by 0.11 per cent, following the rebound of food prices, according to the General Statistics Office (GSO).
The Ministry of Industry and Trade has advised enterprises to carefully study export regulations of the United Arab Emirates (UAE) when conducting business with firms there to avoid suffering losses.
The Ministry of Transport has asked the central Government’s approval for privatisation of investments for restoration of infrastructure for the Đà Lạt – Trại Mát Railroad.
Ten commercial banks will have to sprint to be able to meet the Government’s listing deadline on the Unlisted Public Company Market (UPCoM) by the end of this year.
While stocks are set to rise this week, concerns remain as listed companies are about to finish releasing their second-quarter earnings reports, putting the market in a period where there is not much information forthcoming, analysts say.
An additional 22,972 new enterprises were established in HCM City in the first seven months of the year with a combined registered capital of VNĐ297.14 trillion (US$13 billion).
Unitel, a joint venture between Vietnamese telecom giant Viettel Group and Laos Asia Telecom, seeks to increase its turnover by 10 per cent to US$165 million this year.
In order to inform local firms looking to enter or have entered the New Zealand and Australian markets, the Asia-Pacific Market Department (APMD) under the Ministry of Industry and Trade (MoIT) held a conference yesterday on the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), with the intention of boosting Vietnamese exports into this region.
Việt Nam has great potential in renewable energy, but the Government should have suitable mechanisms and policies to encourage investment in the field, a seminar heard in HCM City yesterday.
Domestic companies have not taken full advantage of the incentives offered by preferential tariff policies for Vietnamese firms to sell products to South Korea, according to the deputy director-general of the Asia-Pacific Market Department under the Ministry of Industry and Trade (MoIT).
Source: Cushman & Wakefield Research)
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