Việt Nam News

The State Bank of Việt Nam will strictly tackle credit institutions which violate regulations on interest rates, said an official from the central bank.

Vietnamese shares were mixed for a third day on the two local exchanges yesterday, while blue chips continued to attract foreign investors with positive quarterly performances.

Realty developer Vingroup (VIC) announced consolidated sales of over VNĐ15 trillion (US$671 million) in Q1 of this year, double last year’s sales in the same time period.

The domestic retail price of petroleum increased by VNĐ646 to touch VNĐ15,586 ( 69 US cents) per litre on May 5, the Ministry of Industry and Trade (MoIT) said.

The Government resolution on Vietnamese business development would create a breakthrough in administrative management, create favourable conditions for business operations, and promote production and business activities, said Prime Minister Nguyễn Xuân Phúc at a cabinet meeting yesterday to discuss the draft resolution on Vietnamese business development.

Vietnamese shares were mixed on the two local exchanges for a second day, while the southern market rallied for a third day.

Exports of Vietnamese shrimp products are expected to experience a strong recovery in the first half of this year after a slowdown last year.

Over the last few years, firms exporting Vietnamese basa and tra fish fillets to the US have faced severe problems due to a sudden increase in anti-dumping duties. At these rates, the Vietnamese exporters will find it increasingly difficult to export to the US market. Dharmendra N. Choudhary, a Washington DC-based international trade attorney with the law firm GDLSK LLP, speaks about the reasons behind the change.

Standard & Poor’s (S&P) last week gave Việt Nam a crediting rating of BB-/B and a stable outlook, unchanged from the ratings announced in March 2015.

More imported goods sold at shopping malls, small specialty shops

Foreign direct investment (FDI) capital poured into industrial zones (IZs) has rapidly increased recently, bringing large profits for infrastructure development companies.

The Government needs to adopt comprehensive policies to develop the country’s mechanical engineering industry, an industry business group has said.

The State Bank of Việt Nam has instructed banks to quickly carry out a plan to convert all magnetic cards into chip cards to prevent fraud.

Vietnamese shares almost were mixed on the two local exchanges yesterday, while energy stocks suffered from a recent decline of global crude prices.

While unsafe food was a growing threat, it was critical to develop a food supply chain to improve control quality from the farm to table, experts said yesterday.

Vietnamese shares may continue to rise this week with improving investor confidence after they received positive news from the government and global markets, brokerage securities wrote in their weekly forecast.

While many real estate firms reported higher revenue and profits in 2015 and the first quarter, their share prices rose slowly or not at all in the local market.

The purchasing power in the total national retail value of goods and services until April 2016 reached nearly VND1.14 trillion, the General Statistics Office (GSO) reported.