Việt Nam News

Vietnamese expatriates living abroad will remit roughly US$2.5 billion to HCM City in 2016’s final quarter, deputy director of the State Bank of Việt Nam’s HCM City branch Nguyễn Hoàng Minh estimates.

Prime Minister Nguyễn Xuân Phúc has released a directive requiring ministries and relevant agencies to tighten State management of multi-level marketing (MLM) activities.

Swiss President Johann Schneider-Ammann has expressed his hope that the European Free Trade Association (EFTA) and Việt Nam will conclude negotiations on a bilateral free trade agreement within the next few months despite certain difficulties at present.

The State invested some VNĐ611 trillion (US$27.4 billion) in agriculture and rural areas during 2011-15, 1.83 times higher than the previous five-year period.

The Australian government will continue supporting Việt Nam in growing and exporting Vietnamese agricultural products to Australia, the Australian ambassador has said.

The zero per cent tariff under the ASEAN-China Free Trade Agreement (ACFTA) will bring more goods from ASEAN and China to Việt Nam, especially Chinese fruits.

The  State Bank of Việt Nam (SBV) will direct credit for the agriculture sector into high value production and participation in the global value chain.

Việt Nam posted trade surplus of US$3.52 billion in the first 10 months of this year, even though the country’s exports were affected negatively by Samsung’s Galaxy Note 7 recall.

The Hanoi Stock Exchange (HNX) will celebrate 30 listed businesses deemed 2015-16 industry leaders in fair disclosure as part of the Exchange’s annual listed businesses conference on November 11.

The 50 leading Vietnamese IT companies reportedly earned revenues of VNĐ28 trillion (US$1.2 billion) last year, accounting for 35 per cent of the sales reported by the software and digital content industry.

The Housing Development Commercial Joint Stock Bank (HDBank) last week signed an agreement with the HCM City Department of Health to provide credit to buy medical equipment for grassroots-level hospitals and set up a social work division at all hospitals by 2020.

Việt Nam’s index of industrial production (IIP) rose by 7.2 per cent in the first 10 months of 2016, according to the General Statistics Office (GSO).The increase was much lower than that of the same period last year (9.8 per cent) due to strong decline in ore mining (5.5 per cent). In the first 10 months of last year, ore mining production saw an increase of nine per cent and crude oil and gas exploitation saw a reduction of 7.5 per cent, according to economists of GSO.

Shares declined yesterday after a two-day rise as large-cap stocks, led by oil and gas stock, lost steam due to negative earnings as well as volatile oil prices.

The 9th annual Việt Nam Information Security Day will be marked in HCM City on November 17 and in Hà Nội in early December amid an increase in the incidence of cyber attacks aimed at large corporations world-wide, including in Việt Nam.

As Việt Nam is integrating rapidly into the global economy, the financial markets need to be restructured towards balance, efficiency and transparency to eliminate the risks of instabilities and achieve sustainable development.

The European Commissioner for Agriculture and Rural Development will lead a high-level trade mission to Southeast Asia, including Việt Nam, to explore market opportunities in the region.

According to data from the General Department of Việt Nam Customs, Việt Nam’s trade deficit with other members of the Association of South East Asian Nations has been widening relentlessly in recent years, going up from US$3.2 billion in 2013 to $4 billion in 2014 and $5.5 billion last year.

MobiFone Telecommunications Corporation earned more than VNĐ2.50 trillion (US$111.11 million) in after-tax profit in the first half of this year, down two per cent over the same period last year.