Việt Nam News

Vietnamese exports of software have risen dramatically but sales in the domestic market fell during the 2011 – 2015 economic downturn, according to the Việt Nam Software Association (VINASA).

The Embassy of Israel in Viet Nam, the Ministry of Science and Technology’s Market Development and Science and Technology Enterprise Department, and the Centre of Business Studies and Assistance will co-organise a start-up contest entitled Start Tel Aviv 2016.

Stock data has revealed that 40 per cent of shares listed on the local bourses are traded below book value, with local securities experts suggesting that bad investor relations (IR) was the leading cause.

Metal mining business Masan Resources, a member of consumer goods producer Masan Group, has recorded revenue of VNĐ806 billion (US$35.8 million) in the first quarter of the year.

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.

Prime Minister Nguyễn Xuân Phúc said the Vietnamese Government and authorities of northern Hải Phòng City would make best effort to play its role of setting up development, unbinding difficulties and creating favourable conditions for the Republic of Korea’s LG Corporation to boost business in Việt Nam.

The Ministry of Information and Communications has been working with the Ministry of Public Security to investigate violations by gaming companies.

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

The Nikkei manufacturing PMI (Purchasing Managers Index) of Việt Nam has bounced back strongly, jumping to a nine-month high of 52.3 in April from a previous 50.7, in contrast to weaker PMIs for the rest of the region, according to the monthly "Vietnam at a glance" report from HSBC.

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.