Việt Nam News

Shares closed Monday’s trade in positive zone on the two national stock exchanges as the banking, securities and steel sectors continued to support the market.

The first-ever Việt Nam Business Summit will be held in Đà Nẵng City on November 7 within the framework of the Asia-Pacific Economic Cooperation (APEC) meeting of 21 leaders of economies, the Việt Nam Chamber of Commerce (VCCI) announced yesterday.

With its rapidly growing economy and 95 million population of whom 60 per cent are young consumers, Việt Nam is an attractive destination for global franchising and retail businesses.

Consumer finance is proving to be an attractive sector with the number of foreign companies rising through mergers and acquisitions, the news site cafef.vn reported.

Southern Bến Tre Province has targeted to open 500 new firms each year, bringing the total number of enterprises to 5,000 by 2020.

Việt Nam Textile and Apparel Association (VITAS) has petitioned the Ministry of Finance and the Ministry of Industry and Trade to not increase import tariffs on polyester fibre from zero to 2 per cent.

The State Bank of Việt Nam has issued a plan to develop card payment using card readers at points of sale (POS) and mobile points of sale (mPOS) from 2017 to 2020.

The net foreign investment in Việt Nam’s securities market was estimated to increase by 80 per cent, year-on-year, to US$1.45 billion in the first nine months of 2017.

National carrier Vietnam Airlines (VNA) announced it will switch operations to Terminal T4 at Changi International Airport, Singapore, from November 7.

Vietnamese and Malaysian businesses shared experience in regional integration at a conference and a forum in Kuala Lumpur, Malaysia, on Sunday.

Việt Nam International Commercial Joint Stock Bank (VIB) will buy back treasury stocks not exceeding 10.1 per cent of its current charter capital and cancel the plan to increase charter capital.

The State Bank of Việt Nam has issued a circular to replace Circular 18/21014/TT-NHNN, regarding the import of equipment and materials for printing money.

Vietnamese shares went through a rough trading week with rising investor caution. However, the market is expected to move up this week when listed companies announce third-quarter earnings.

The export of wood and timber products is forecast to bring in US$8 billion in 2017, posting a 17 per cent year-on-year increase and surpassing the target of $7-7.5 billion set earlier this year.

As part of a global trend, cooperation between commercial banks and insurance companies to supply banks’ clients with insurance policies through the banking system has been positively promoted by the banking system themselves, thus creating a new sales channel for insurance policies in a professional, convenient and reliable manner.

The Prime Minister recently issued a decision outlining solutions for loss-making projects under the management of the Ministry of Industry and Trade. The aim is to turn them into efficient projects by 2020, at the latest, or let them be dissolved.

On September 13 Samsung launched its mobile payment service, "Samsung Pay", in partnership with the National Payment Corporation of Việt Nam (NAPAS). Like Samsung, Apple also plans to bring its digital wallet, "Apple Pay", to Việt Nam soon.

A pepper glut in the Central Highlands as more and more farmers switched to the crop lured by the earlier high profits from the spice has caused prices to collapse and threatens to bankrupt many of them.