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BUSINESS NEWS IN BRIEF 2/8

Can Tho invites investors to investment promotion conference The Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD).  At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh ... Read More »

Authorities slap social media profiteers with tax bill

The HCM City tax department said it has served a tax notice and slapped a fine on an individual together amounting to VNĐ4.1 billion (US$178,000) for failure to pay tax on incomes received from foreign companies in the last two years.—  Photo tieudung.vn HCM CITY — The HCM City tax department said it has served a tax notice and slapped a ... Read More »

Nearly $5 billion in FDI poured into HCM City

 The southern economic hub of Ho Chi Minh City attracted more 4.69 billion USD in foreign direct investment (FDI) in the first seven months of 2018, a year-on-year rise of 70.5 percent. According to the municipal Department of Planning and Investment, the city granted new investment licenses to 553 projects worth 508.25 million USD in the period under review. Besides, ... Read More »

Vietnam increasingly reliant on imported energy

Due to limited domestic supply, Vietnam has become increasingly dependent on energy imports, putting national energy security at risk, Nguyen Van Thanh, deputy head of the Electricity and Renewable Energy Department under the Ministry of Industry and Trade, told the Vietnam Technology and Energy Forum 2018 on July 31. An active hydropower dam  According to a report by the Electricity ... Read More »

HCMC stops condo developments in downtown area until 2020

 New multistorey apartment building projects will not be allowed in districts 1 and 3 of HCMC until 2020, according to the city government’s housing development plan for the 2016-2025 period. High-rise buildings mushroom in downtown HCMC  The HCMC government expects to raise the per capita housing area to 19.8 square meters by 2020 and the newly built house area to ... Read More »

Sacombank adopts credit risk measurement model

Phạm Văn Phong, permanent deputy chairman of Sacombank, speaks about the importance of the Credit Risk Model that is being adopted by the lender. — Photo Courtesy of Sacombank Viet Nam News HCM CITY — Sacombank has begun installing a Credit Risk Model, which will help measure the risk of business portfolios for formulating business strategies, managing credit portfolios and ... Read More »

Local car production on the rise

The automobile market is expected to change dramatically from now to the end of this year as the production of cars in Viet Nam starts to recover. A Thaco Mazda factory operated by the Truong Hai Automobile Joint Stock Company (Thaco).  According to the Ministry of Industry and Trade (MoIT), the volume of locally-assembled cars in July was estimated at ... Read More »

HCM City asks for regulations on officetels, condotels

Ho Chi Minh City People’s Committee has sent a document to the Government Office to ask Prime Minister Nguyen Xuan Phuc to issue regulations on officetel, condotel and resort management. The demand for developing officetels is quite high because they have started to meet the needs of urban development – Photo theleader.vn According to the People’s Committee, the demand for ... Read More »

Vietnam records US$3.1 billion trade surplus in seven months

Vietnam gained a trade surplus of 3.1 billion USD in the first seven months of this year, reported the General Statistics Office (GSO). Vietnam recorded a high trade surplus in the first half of this year. (Photo vneconomy.vn) This is because the country’s total export value during the first seven months rose 15.3 percent year-on-year to 133.7 billion USD. Of ... Read More »

MA activities expected to reach records in 2018

Viet Nam has become an attractive destination for many foreign investors largely due to the country’s friendly policies encouraging FDI, its political stability and strong economy, the latest report of US-based John Lang LaSalle (JLL) said. Nomura Real Estate acquired Sun Wah Tower in District 1. — File Photo Foreign direct investment (FDI) disbursements rose 8.4 per cent year-on-year to ... Read More »