Việt Nam News

Electricity of Việt Nam (EVN) said on Monday it received formal registrations from foreign investors to buy 36 per cent charter capital at the Power Generation Corporation 3 (Genco 3).

The Ministry of Planning and Investment will submit a scheme on informal economic statistics to the Prime Minister for approval this year.

The central coastal province of Phú Yên plans to grant licences to projects worth nearly VNĐ12.4 trillion (US$558 million) in total at an investment promotion conference on January 19.

The central province of Bình Thuận, which has more than 9,500 ha of dragon fruit cultivated under VietGAP (Vietnam Good Agricultural Practices) standards, plans to expand the area to 9,800ha this year, according to the province’s Agriculture and Rural Development department.

Chairwoman of the National Assembly (NA), Nguyễn Thị Kim Ngân, has highlighted the need to promote the independence of the State Audit Office of Việt Nam (SAV) and its auditors, aiming to ensure the transparency of its operations

The Ministry of Finance has proposed the Government raise the individual income tax imposed on capital/securities transfer to 2 per cent for trades not registered to the Vietnam Securities Depository and not made on the securities market.

The Việt Nam Bank for Industry and Trade (VietinBank) earned a total profit of VNĐ9.2 trillion (US$404 million) in 2017, equivalent to 105 per cent of its annual target.

Việt Nam has become an ideal location to start a business, not only for young overseas Vietnamese people to come back, but also for expats thanks to the country’s strong economic growth in recent years. 

HCM City’s industrial production was forecast to maintain steady growth in 2018 with the industrial production index (IIP) to rise about 8- 8.5 per cent against last year, according to HCM City’s Department of Industry and Trade (DoIT).

The southeastern province of Đồng Nai achieved a record trade surplus of US$2.17 billion last year, with the highest recorded in the country, according to the provincial People’s Committee.

At a conference to review the industry and trade sector in 2017, Prime Minister Nguyễn Xuân Phúc lauded the sector’s accomplishment of reaching US$200 billion export turnover for the first time, the abolishment of 675 business and investment conditions (about half the previous total 1,216 regulations) and the settlement of 12 loss-making projects. 

 Prime Minister Nguyễn Xuân Phúc asked the Ministry of Planning and Investment to offer the Government solutions to boost economic development and turn Việt Nam into a “new tiger” of Asia.

The International Monetary Fund (IMF) is optimistic about the current state of the world economy while predicting faster growth across all regions and highlighting China’s vital role in promoting globalisation.

The 2018 Kiên Giang Province investment promotion forum held yesterday was seen as an affirmative undertaking to establish the province’s potential, economic strengths and call for investment.

Vietnamese shares advanced on Monday as large-cap firms were boosted by positive investor confidence that was looking for opportunities in the earnings season.

The Saigon Beer, Alcohol and Beverage Corporation (Sabeco) produced nearly 1.73 billion litres of beer in 2017, an increase of 7 per cent compared to the previous year and exceeding 5 per cent against the year target.

Following a Ministry of Transport directive asking Grab Việt Nam to stop providing car hailing services in certain provinces, the company said its services did not violate laws.

The 2017 Economic Survey in HCM City has provided basic data about the number of enterprises, workers, the economic efficiency of companies and administrative units and proportion of information technology application, delegates heard at last Friday’s meeting to review the survey.