Credit cards and other electronic payment systems essential to online shopping remained underutilised in Viet Nam, said Viet Nam Vat Gia Joint Stock Co director Nguyen Ngoc Diep. About 30 million people nationwide were using the internet as of October of this year, with the figure expected to surge to 40 million over the next [...]
Vietnam’s registered inbound foreign direct investment (FDI) amount next year is expected to total around $20 billion thanks to international and domestic favorable conditions, including an actualized amount of $11-11.5 billion ($8-8.5 million of which from foreign partners). The estimates were cited from Ministry of Planning and Investment’s statement in Dec 30 meeting, by the [...]
Vietnam expects to reduce catfish exports next year to US$1 billion, down from $1.5 billion in 2010, according to the Vietnam Association Exporters and Producers (Vasep). Vasep estimates that basa catfish shipments may decline by 45 percent to 360,000 tons next year from this year’s 640,000 tons. The industry association told a conference in Ho [...]
Interbank interest rates declined by 0.45 – 2.47 percentage points last week, depending on loan terms, indicating more stable system liquidity after some weeks of tension, the State Bank of Viet Nam announced earlier today. Overnight rates for loans denominated in Viet Nam dong saw the strongest decrease, dropping 2.47 percentage points to a rate [...]
The cabinet would do its best to stabilise the macro-economy and contain inflation, the last cabinet meeting of the year heard yesterday. Chaired by Prime Minister Nguyen Tan Dung and his deputies, the two-day meeting was attended by ministers as well as leaders of 63 provinces and central-level cities to discuss the agenda to achieve [...]
The end of the year is seeing a sharp rise in smuggling activities, according to border authorities. Electronics, household appliances, cosmetics, sugar, low-quality poultry and even fire-crackers are the main products being transported into the country illegally. Beginning in early December, authorities in the northern provinces of Lang Son, Quang Ninh and Ha Giang began [...]
Despite in the 100 trillion dong revenue race in 2010, the military-run Viettel followed behind Vietnam Post and Telecommunication Group (VNPT) as being short of 9 trillion dong, it is said that Viettel has deserved as the winner in terms of real capacity and achievements, the Dien Dan Doanh Nghiep reported on December 28. The [...]
Mergers and acquisitions (M&A) is a normal operation to be able to bring profit as investors transfer projects but it doesn’t mean that the investor is fleeing from the project. However, the market’s purchasing power decreasing along difficulties in raising capital have been testing the endurance of investors and developers of projects, and many of [...]
In 2010, Vietnam’s tourism sector would bring about 96 trillion dong in revenue, up 37 percent year-on-year thanks to the strong growth in number of international and domestic tourists, according to Vietnam National Administration of Tourism (VNAT). Vu The Binh, head of Travel Department under VNAT said that in 2010, the total number of international [...]
Vietnam’s trade gap in 2011 is forecasted to be $14 billion, lower than 18 percent of the total import spending and maybe lower than the government’s target ($14.6 billion), according to the Ministry of Planning and Investment (MPI). The ministry said the country’s total export turnover in 2011 would be about $78 billion, up over [...]
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