Việt Nam News

Multi-level marketing companies have been discovered indulging in tax fraud worth several billion Vietnamese dong and the sale of fake goods, the Ministry of Industry and Trade’s Competitive Management Department said.

Business performance at commercial banks is forecast to continue its upwards trend this quarter after making some improvements in the first half of the year, a State Bank of Việt Nam (SBV) survey said.

Việt Nam’s rice exports in the first half of the year fell by 32 per cent over the same period last year, mostly due to competition from other countries.

Policy-makers yesterday were called on to build the law on supporting small- and medium-sized enterprises (SMEs) in a way that helps narrow the gap between policies and expectations of businesses.

Vietnamese shares fell for a second day on profit taking and oil stocks plunged on lower oil prices.

Vietnamese people bought more than 24,400 cars in June, an increase of 31 per cent compared with the same period last year, the Vietnam Automobile Manufacturers' Association said.

Mekong Enterprise Fund II, or MEF II, announced the successful sale of 2.5 million shares of Mobile World (MWG) on July 9.

Sài Gòn Fuel Joint Stock Company (SFC) registered to buy over 9.7 million shares, or nearly 33 per cent, of stakes in HCM Food One Member Company (Foodcosa) when the firm auctioned its shares in an initial public offering this week.

The State Securities Commission fined Cần Thơ Urban Joint Stock Company VNĐ7.5 million (US$333,300) for the late submission of their public firm document on July 6.

Joint statement and declarations adopted by the 2016 Việt Nam Private Economic Forum, including an analysis of the general context and the viewpoint of businesses about the state of Việt Nam’s private economic sector, were included in the White Paper: “Việt Nam Private Economic Forum – Opportunities, Challenges and Solutions.”

Many banks have opted to issuing long-term bonds to improve their equity to increase their chartered capital amid the difficult economic situation in recent years.

The tax sector will focus on creating a decree to prevent tax losses and transfer pricing in the second half of the year, said Đỗ Hoàng Anh Tuấn, deputy minister of Finance.

Fearing that start-up businesses could be harmed, a petition calling for the scrapping of Article 292 under Penal Code 2015 was sent to officials, ministers and agencies.

Việt Nam’s stock indices may decline this week, as investors continue to take profits from stocks after recent gains and lower oil prices could push energy stocks down, analysts warned.

Dragon Capital, the leading investment management company investing in Việt Nam listed its Vietnam Enterprise Investments Limited (VEIL) on the London Stock Exchange recently.

PVFC Fund Management Joint Stock Company (PVFC Capital) reported the purchase of 6.1 million shares of Cà Mau Fertilizer (DCM).

Siluriformes fish products, meant for export to the United States, will undergo safety tests from July 17 to October 15, the National Agro–Forestry–Fisheries Quality Assurance Department (NAFIQAD) said.

Việt Nam should raise policies to encourage the development of affordable rental housing in an effort to resolve the severe shortage of housing for low-income earners, experts said.