Việt Nam News

Việt Nam welcomed more than 7.26 million international visitors in the first nine months of the year, up 25.7 per cent compare to the same period last year, according to the Việt Nam National Administration of Tourism.

Shares sunk for a second day on the HCM Stock Exchange yesterday under heavy profit-taking selling pressure while investors became cautious ahead of the release of the third-quarter earnings of companies.

The State Security Commission has green lighted its purchase of a 65 per cent stake in Tường An Vegetable Oil Joint Stock Company, food producer Kido Corporation has announced

Production and business in the third quarter was stable and better than the second quarter, according to the General Statistic Office (GSO).

The inclusion of China’s yuan into the International Monetary Fund (IMF)’s basket of reserve currencies last Saturday will impact finance across the globe, and Việt Nam is no exception.

Two US steelmakers have requested that the US Department of Commerce (USDOC) checking whether China is circumventing antidumping and countervailing duties on cold-rolled steel coil and corrosion-resistant sheet by processing hot-rolled coil in Vietnam or not.

There is an abundant supply of housing, prices are steady, lending to developers and home buyers is increasing, and bad debts are low, according to a quarterly report issued by the Ministry of Construction in September.

In late September, Masan, one of Việt Nam’s largest private-sector companies, and its strategic partner, the Thai conglomerate Singha Group, officially introduced its new product, Chin-Su Yod Thong fish sauce, to Thailand.

The Ministry of Transport (MoT) is pushing forward with the restructuring of State-owned enterprises (SOEs), having divested VNĐ2 trillion (US$89.7 million) from five corporations and companies since the beginning of this year.

Việt Nam needs more comprehensive policies to direct remittance to production and business, experts said at a conference late last week.

The Vietnamese business community is known as a group of hard-working and creative people, but linkages among the community’s members and connections between the business community and authorities are not developed enough to internationally integrate and compete.

The director of a bank in HCM City says lenders have no plans as of now to increase loan interest rates, though they find it difficult to cut capital costs since deposit interest rates are tending to increase.

The central province of Ninh Thuận plans to expand its grape cultivation area by 7,900 hectares, of which more than 2,550ha will be safe grape fields, according to the provincial People’s Committee.   

Vietnamese shares are set to rise this week as investor confidence remains high on companies’ quarterly performances and the country’s economic prospects, while a three-day rebound in crude prices is expected to lead energy firms up.

State-owned oil giant PetroVietnam has announced its divestment plan in the next five years, following which it will sell larger stakes in a number of its subsidiaries during the period of 2016-20.

HCM City’s Gross Regional Domestic Product (GRDP) reached VNĐ732. 44 trillion (US$33.2 billion) in the first nine months of the year, up 7.76 per cent against the same period last year, according to the municipal People’s Committee.

For the eighth consecutive year, Viet Nam has been listed among the world’s top 30 attractive emerging retail markets, according to the ranking in the Global Retail Development Index of the US’s AT Kearney Company.

Việt Nam must continue to maintain stability, accelerate restructuring and improve the competitiveness of the economy in the face of ongoing global headwinds, members of a think-tank report.