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Challenge fund seeks business ideas

Challenge fund seeks business ideas HCM CITY(VNS)—The Viet Nam Business Challenge Fund (VBCF) – a 7 million pound (US$10.87 million) programme funded by UK Department for International Development (DFID) officially announced yesterday its second call for proposals in HCM City. Private businesses – both national and multinational – operating in Viet Nam have been invited to submit innovative and inclusive ... Read More »

Deposit interest rates vary between domestic banks

Deposit interest rates vary between domestic banks HA NOI (VNS)— Interest rates haven’t shown significant changes since Vietcombank’s rate cuts, but they have revealed the sharper rate difference among the banks. Vietcombank on Monday slashed its deposit rates by up to 1 percentage point, a move its general director Nguyen Phuoc Thanh said was to re-organise capital sources, stimulate consumption ... Read More »

PM Dung approves programme to cut public debt by 2015

PM Dung approves programme to cut public debt by 2015 HA NOI (VNS)— The Prime Minister approved a medium-term debt management programme for the 2013-15 period. The programme aims to lower public debt to less than 65 per cent of GDP by 2015, of which Government loans and foreign debts cannot account for more than half. Overspending in the State ... Read More »

Tax cuts proposed to boost tourism sector

Tax cuts proposed to boost tourism sector Foreign tourists visit the capital city of Ha Noi. Value added tax and corporate income tax are expected to be cut by half in a bid to boost the tourism sector. — VNA/VNS Photo Thanh Ha HA NOI (VNS)— The Ministry of Culture, Sports and Tourism has sought Government approval to slash both ... Read More »

Blue chips lift shares on both exchanges

Blue chips lift shares on both exchanges  Shares rebounded this morning on both exchanges, led by the recovery of blue chips.— Photo hanoimoi HA NOI (VNS)- Shares rebounded this morning on both exchanges, led by the recovery of blue chips. The VN-Index on the HCM City Stock Exchange regained 0.5 per cent to stand at 487.51 points, with advancers doubling ... Read More »

BUSINESS IN BRIEF 9/5

Steel imports top US$2 billion Viet Nam’s steel industry saw imports of more than US$2 billion in the first four months of this year. An imbalance in the steel industry’s development strategy led to an increase in the import of high-value steel, while the domestic supply mostly included popular products, according to the Viet Nam Steel Association (VSA). Steel export ... Read More »

Foreign firms disallowed to buy coffee from farmers

VietNamNet Bridge – Tussles between local and foreign coffee exporters in the past three to four years will come to an end on June 7 when foreign entities are banned from directly purchasing coffee from farmers and establishing coffee buying networks, says a new Ministry of Industry and Trade circular. Circular 08/2013/TT-BTC provides detailed regulations on commodity trading and other ... Read More »

Multi-million dollar villas left fallow in Hanoi

VietNamNet Bridge – A lot of luxurious villas worth millions of dollars in Hanoi, which have been left deserted, have reluctantly become the places for street noodle shops or car cleaning workshops. The Van Khe new urban area, located in the center of the Ha Dong district is considered an ideal place for living with its comfortable utilities and the ... Read More »

Finland, Viet Nam foster trade links

Finland, Viet Nam foster trade links Vietnamese farm produce shows significant potentials for export to the Finland market.— VNS File Photo HA NOI (VNS)— A seminar promoting Viet Nam-Finland trade links was held in central Da Nang City on Monday. Participants were briefed about the city’s socio-economic development, its business environment, policies to attract foreign investment and regulations to support ... Read More »

WB steps up cooperation with Vietnam

Visiting World Bank (WB) Vice President for East Asia and Pacific Region Axel van Trotsenburg has pledged to provide a maximum financial source to help Vietnam achieve its socio-economic goals. Van Trotsenburg made the remark at a press conference in Hanoi on May 8, suggesting that the two sides work closely to disburse WB-assisted funding sources at highest level. He ... Read More »