Business News

[26-09-2016] Ho Chi Minh City’s consumer price index (CPI) in September increased 0.43% from the previous month, and 2.71% from the same month last year, the municipal Statistics Office reported on September 24. A price hike was seen in seven out of 11 major goods and services groups with the highest rise spotted in education at 4.06% due increasing demands for learning equipment for the new school year.

[23-09-2016] Many globally renowned investment funds have shown interest in the Vietnamese property market after announcing investment deals worth tens of millions of dollars in potential real estate firms. Vo Huynh Tuan Kiet from CBRE Vietnam, a real estate service provider, said Vietnam in recent years has been witnessing hefty foreign investment in the property market.

[24-09-2016] PM Nguyen Xuan Phuc asked for drastic and effective actions in order to create a revolution in information technology (IT) application as a new development method for sharpening national competitiveness. The PM made the above statement on Saturday at the Viet Nam Information and Communication Technology (ICT) Summit 2016 themed “Digital revolution – Opportunities and challenges.”

[21-09-2016] The Prime Minister issued Decision 34/2016/QD-TTg dated August 23, 2016 on electronic procedures applicable to ships entering and leaving seaports, inland ports and offshore oil ports via the National Single Window (NSW) mechanism.

[21-09-2016] International Transportation and Trading Joint Stock Company (ITC) on September 18 inaugurated SP-ITC International Container Terminal worth more than US$200 million in HCMC’s District 9. The terminal has a 1,000-meter-long pier that can handle two million twenty-foot-equivalent units (TEU) and receive container vessels of 35,000 DWT in the first phase.

[21-09-2016] Southern coastal Bà Rịa-VÅ©ng Tàu Province is planning to relocate its airport from the central area of VÅ©ng Tàu City to the suburb due to safety reasons and usage inefficiency. VÅ©ng Tàu Airport covers 172ha in Ward 9 of VÅ©ng Tàu City, which is a crowded residential area.

[21-09-2016] A proposal to use State funds to settle commercial banks' bad debts, as stated in the draft plan on economic restructuring for the 2016-2020 period, has been met with a cold shoulder. Under the plan drafted by the Ministry of Planning and Investment, the feasibility of the proposal is to be studied by the Ministry of Finance and State Bank of Viet Nam.

[21-09-2016] Consultants and experts have recommended that Vietnam take measures to prevent foreign-invested projects from using outdated technologies, causing pollution and consuming national resources. Nguyen Mai, chair of the Vietnam Association of Foreign Invested Enterprises (VAFIE), said Vietnam should stop licensing projects in three business fields.