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Party Economic Commission works with oil group

The Party Central Committee’s Economic Commission on February 27 worked with the Vietnam National Oil and Gas Group on strategic solutions to speed up the oil and gas industry development strategy designed for the period from now to 2015 and beyond. Participants looked at the development situation of the sector, its contributions to the country’s ... Read More »

Japan’s Toyoko Inn to build 100 new hotels across Viet Nam

Japan’s Toyoko Inn to build 100 new hotels across Viet Nam HA NOI (VNS)— Japanese hotel chain Toyoko Inn plans to build 100 starred hotels in Viet Nam. Although the country’s economy is currently at a low point, the situation will likely improve in the long term, ensuring the hotels’ success, Nishida Norimasa, president and founder of Toyoko Inn, said ... Read More »

Three energy ‘giants’ establish strategic partnership

Three energy ‘giants’ establish strategic partnership   Coal mining at Phan Me mine in northern Thai Nguyen Province. Vinacomin and two other State-run giants in the energy sector, EVN and PVN have recently inked a strategic co-operation agreement, aiming to ensure national energy security. VNA/VNS Photo — Trong Dat HA NOI (VNS) — The three State-owned giants in the energy ... Read More »

HCM City to revoke licences of 48 delayed projects

HCM City to revoke licences of 48 delayed projects HCM CITY (VNS)— About 48 delayed projects in HCM City for which less than 50 per cent of the site has been cleared will have their licenses revoked this year, municipal authorities said on Tuesday . At a meeting held to collect opinions of district-level People’s Committees and relevant departments on ... Read More »

Curb on licences for titanium exploitation

Curb on licences for titanium exploitation BINH THUAN (VNS) — The central province of Binh Thuan will stop granting investment certificates to new titanium ore exploitation projects outside specific areas, following the zoning plan for titanium extraction approved recently by the Prime Minister. Under the plan, enterprises in Binh Thuan will only exploit and process titanium in the Luong Son ... Read More »

Foreign investment in healthcare sector stagnant

Foreign investment in healthcare sector stagnant HCM CITY (VNS)— Foreign direct investment (FDI) for the domestic health care sector this year may remain at a standstill even though investors are making efforts to complete plans for projects that are overdue. A staff member of the Viet Nam Foreign Investment Agency, who spoke on condition of anonymity, told Viet Nam News ... Read More »

Ministry to oversee tax on used car imports

Ministry to oversee tax on used car imports HA NOI (VNS) — Deputy Prime Minister Hoang Trung Hai has asked the Ministry of Finance to review the import tax of used cars in a bid to restrain importers from disguising brand new vehicles as old ones to avoid higher tax rates. The move follows a proposal from local automaker Thaco ... Read More »

Banks balk at new ATM fees

Banks balk at new ATM fees   People withdraw cash at a Military Bank ATM in Ha Noi. Few banks say they will collect new State Bank-approved fees on ATM transactions due to public concern over the issue. — VNA/VNS Photo HANOI (VNS)— Few banks are prepared to begin collecting fees for automatic teller machine (ATM) transactions beginning on Friday, ... Read More »

BUSINESS IN BRIEF 28/2

ASEAN- China railway begins operating A railway that links the Association of Southwest Asian Nations (ASEAN) countries with southwest China’s Yunnan province became operational on February 23. After seven years of construction, the railway has a total length of 141 km with a designated maximum speed of 120 km per hour. It goes through 35 tunnels and crosses 61 bridges, ... Read More »

Phu Bai Airport to be closed for runway upgrade

Phu Bai Airport to be closed for runway upgrade HA NOI (VNS)— Phu Bai International Airport in central Thua Thien-Hue Province is expected to close for eight months for runway repair. The airport will likely be closed from March 20 to November 20, according to a document released by the Ministry of Transpor. During this period, tourists who wish to ... Read More »