Up to 41 percent of foreign investors joining a survey conducted by the audit and financial consulting company Grant Thornton Vietnam in the second quarter replied that Vietnam is an attractive investment destination, a strong rise compared to late 2012. Obviously, investors now are more confident in their business in Vietnam compared to 27 percent [...]

More Indonesian state-owned enterprises (SOEs) will come to Vietnam in the near future to make investment and establish partnerships with local businesses, said Mayerfas, the Indonesian Ambassador to Vietnam. In the last two years, many Indonesian firms, including a lot of state-owned ones, have visited Vietnam to look for investment opportunities. Last year, cement producer [...]

General Department of Vietnam Customs has recently announced a detailed report on the country’s export and import situation in the first five months of this year. According to the report, in May, the country’s export turnover reached more than $11.67 billion, rising 16.4 percent from April, while the import value was nearly $12.23 billion, a [...]

The government is trying to speed up negotiations for the realisation of the Vietnam- EU Free Trade Agreement (FTA) by the end of 2014, while some local experts and businesses have raised concerns about the impact of the FTA. The FTA will bring in a rising trade deficit with the EU. Moreover, many local firms [...]

Vietnam plans to cut and reduce total of VND37.7 trillion ($1.8 billion) worth of taxes to support enterprises in 2013, the deputy prime minister Nguyen Xuan Phuc said today. To remove difficulties for manufacturing and producing companies, the country will focus on credit solutions, continue cutting interest rate for existing and new loans, priorities capital [...]

Mozambique is calling for investment from Vietnam into many sectors, said a high-ranking senior state of official of the Southeast African country at a recent business forum in HCM City. Agriculture, industrial production, infrastructures, finance/ banking, seafood processing, mining, and telecommunications are potential fields that the Mozambique government is offering many incentives for foreign investors, [...]

Vietnam and Indonesia have plenty of opportunity for cooperation in food and energy security and oil and gas exploration. At a joint business forum in HCM City on June 13-14, Vu Tien Loc, Chair of the Vietnam Chamber of Commerce and Industry (VCCI), said Vietnamese and Indonesian businesses involved in the seafood processing sector should [...]

With a determination to wipe out corruption and enhance transparency in State agencies, Vietnam will carry out 24 anti-corruption proposals in the Vietnam Anti-Corruption Initiative Programme 2013 (VACI 2013). These best initiatives were passed at the Final Round Competition of VACI 2013, which took place in Hanoi on June 12, with theme “Strengthening transparency, public [...]

Optimistic psychology covers reports of fund Management Company in May about the prospect of the Vietnamese market. At the beginning of this week, Dragon Capital caused an amazement with a comment “we are going to touch the bottom of Vietnamese real estate market” in the updated report in May about investment funds. Besides, Vietnam Property [...]

Vietnam sent 6,312 labourers to work abroad in May and the total figure in Jan-May was 32,226 workers, according to the statistics from Overseas Labour Management Department. Of which, Taiwanese market accounted for the biggest proportion with 3,296 workers in May, followed by Japan with 618 labourers and Korea with 480 people. In addition, so [...]

Vietnam’s June CPI is likely to rise but in a lower level of below 0.1 percent, analyst with local news provider NDHMoney forecast. The forecast is based on Leontief and SARIMA models. If the forecast comes true, Vietnam’s June CPI this year will post+2.4 percent increase from December 2012 and +6.7 percent from June 2012. [...]

Vietnam’s Foreign Investment Agency (FIA) has described Luxembourg as an important trade, investment, and economic partner in its broader European cooperation strategy over the 2011 – 2015 period. The Vietnamese industrialisation process could be accelerated by freeing up foreign investment flows from developed countries like Luxembourg, capitalising on their remarkable technological and experiential advantages. Luxembourg [...]

Vietnamese prime minister Nguyen Tan Dung said that Vietnam will do its utmost to continue deepening relations between Vietnam and the United Kingdom in an effective manner. At his reception given to UK minister of State for Trade and Investment Lord Green in Vietnam’s capital Hanoi on Wednesday, Dung suggested cooperation be further boosted between [...]

The bailouts, if they are launched, should target consumers in order to stimulate the demand, experts say, warning that the deflation, if it occurs, would be more dangerous than the inflation. Dr Tran Dinh Thien, director of the Vietnam Economics Institute, has noted that the inflation has decreased more rapidly than expected, but there have [...]

The capital city plans to promote trade activities to boost exports this year and beyond, said an official from the Hanoi Industry and Trade Department. Phan Tien Binh, deputy director of the Hanoi Industry and Trade Department, said trade promotion programmes for new export markets will be bigger and better in coming years. Trade promotion [...]

The governments of Vietnam and Mozambique should create more favourable conditions for their business communities to enter each other’s markets. Businesses made the proposal at a joint roundtable on Vietnam-Mozambique trade and investment promotion in Hanoi on June 12. Deputy minister of Planning and Investment Dao Quang Thu noted that bilateral investment cooperation remains modest, [...]

The 2013 Vietnam Anti-Corruption Initiative (VACI) programme commenced on June 11, aiming to bring into play society’s roles and responsibilities in the field through raising public awareness of the law on preventing and combating corruption. The programme, which is co-organised by the government Inspectorate, the World Bank (WB) and other sponsors, includes an innovative contest [...]

Almost 500 workers at industrial parks in HCM City have lost their jobs this year due to many enterprises halting operation or scaling down business, according to the HCM City Export Processing and Industrial Zones Authority (Hepza). All workers who have lost their jobs have been paid allowances. According to Hepza’s report on the operation [...]

Africa and the Middle East are potential markets for Vietnam’s export products, especially food, agricultural products, seafood and consumer goods. Le Thai Hoa, deputy head of the Department of Africa, West Asia and South Asia Markets under the Ministry of Industry and Trade (MoIT), made the remark at a workshop in Hanoi on June 11, [...]

Two-way trade between Vietnam and Spain hit more than 533 million euros in the first quarter of this year, a year-on-year increase of 9.23 per cent, according to Spanish customs. In the reviewed period, Vietnam earned over 477 million euros (US$634.41 million) from exports to Spain and imported 55.91 million euros ($74.36 million) worth of [...]

Two-way trade turnover between Vietnam and Spain in the first quarter of 2013 hit more than 533 million euro, up 9.23 percent against the same period last year. According to preliminary statistics from the Spanish Customs, Vietnam’s exports to the country reached over 477 million (up 9.46 percent) and imports were worth more than 55.9 [...]

A Vietnam-China Comprehensive Economic and Trade Cooperation Forum took place in Hanoi on June 10, aimed at creating opportunities for bilateral trade and lifting the two countries’ economic relations to a higher level. Speaking at the forum, deputy minister of Industry and Trade Ho Thi Kim Thoa affirmed that Vietnam-China comprehensive cooperation in recent years [...]

A fourth round of negotiations on a free trade agreement between the EFTA States and Vietnam was held in Oslo, Norway from 4 to 7 June 2013. During the round, the negotiating teams addressed the full range of topics to be covered by the future agreement, notably trade in goods, trade facilitation, rules of origin, [...]

Vietnam has been an important investment destination of and the biggest trade partner of China’s Guangxi Zhuang Autonomous Region for 14 consecutive years, said a senior official of the region. Peng Qinghua, secretary of Guangxi CPC Committee, made the statement at a forum held here Monday to boost comprehensive trade and economic cooperation between China’s [...]

Vietnam’s leaders faced a first-ever confidence vote in the communist-controlled parliament on Monday as the authoritarian regime seeks to defuse growing public anger over corruption and a lack of political accountability. The vote – to be held every year – was approved by the one-party state’s rubber stamp legislature in November and requires most senior [...]

The Trans-Pacific Strategic Economic Partnership Agreement (TPP) will bring about opportunities for Vietnam to improve exports but also expose the nation to many new challenges, said experts at a seminar. Speaking at the TPP seminar organised by the Can Tho branch of the Vietnam Chamber of Commerce and Industry (VCCI) last Friday, Thoi Ngoc Doan [...]

Vietcombank Securities (VCBS) expected the country’s consumer price index (CPI) to rise slightly in June or will not be a negative number. VCBS believes that with speeding up credit growth rate, June CPI stays low is a support for local economic recovery, it said in May macro report. VCBS said the recovery of gross demand [...]

Vietnam’s prime minister today gets the chance to shore up backing from lawmakers in his first vote of confidence after stumbles that last year prompted him to make a public apology to the communist nation. Premier Nguyen Tan Dung, the country’s president and 45 senior officials will come under fresh scrutiny as the 499-member National [...]

The Trade Information centre under the Ministry of Industry and Trade has forecast import value to continue rising in the next few months, which signals capital inflow into the economy although this will lead to a higher trade deficit. The nation’s import has continued growing since last month after declines from January to April, which [...]

A newly released report says Vietnam’s economy will remain sluggish this year with a GDP growth rate of between 5.04 and 5.35 percent, lower than the target of 5.5 percent. Vietnam’s GDP growth rate was 5.03 percent last year, much lower than the target 6-6.5 percent. The report, which will be published fully next month, [...]

Inconsistent figures about Vietnam’s economy and society are confusing the people and their representatives in the parliament – the National Assembly. This confusion puts the country at risk, because no effective solutions can be carried out without reliable information on and quantification of many problems facing us today. Over the past few years, for instance, [...]

The European Commission directorate general for Trade will meet on June 11 to unveil the Trade Sustainability Impact Assessment (TSIA) for the EU-Vietnam Free Trade Agreement (EVFTA). During the meeting, EU civil organisations will also present their viewpoints on the influence of EVFTA negotiations on Vietnam, according to the Vietnam-EU Trade Office in Belgium. High [...]

A business forum between Vietnam and Malaysia was held in Kuala Lumpur on June 7, drawing nearly 100 businesses from both countries. The forum, co-organised by the Vietnam Chamber of Commerce and Industry and its Malaysian counterpart, is an opportunity for the two sides’ enterprises to better understand each other, expand cooperation as well as [...]

HCM City hosted a June 7 trade exchange helping Vietnamese and Turkish businesses arrange investment opportunities in fields such as electricity, electronics, and information technology. Faith Kemal Ebielioglu – President of the Istanbul Electrical, Electronics, Machinery, and Information Technology Exporters’ Association (TET) – said the event is part of the association’s activities designed to expand [...]

Five provinces and cities registered export revenues of over 1 billion USD in the first four months of 2013, according to the general Department of Customs. HCM City was the largest exporter with over 9.3 billion USD in the four months ending in April, followed by northern Bac Ninh and southern Binh Duong provinces, which [...]

HSBC has revised down its forecast of Vietnam’s gross domestic product (GDP) growth this year to 5.1 percent from 5.5 percent previously, according to a macroeconomic report the bank released on Tuesday. “This is partly a reflection of unexpected weakness in commodity prices, which dragged down agriculture and energy exports, as well as sluggish credit [...]

Vietnam and other representatives of the Forum for East Asia-Latin America Cooperation (FEALAC) shared experience in transforming the growth model in Hanoi on June 6. Despite maintaining remarkable growth in the wake of the global financial crisis, some East Asian and Latin American countries still face immediate and long-term,challenges that require renewing their models for [...]

In the Vietnam Business Forum, Vu Tien Loc, chair of the Vietnam Chamber of Commerce and Industry (VCCI), said that 7 major and important issues have been improved. One, VCCI suggested reducing corporate tax to 20 percent. The government proposed two levels to National Assembly: 20 percent of small and medium firms, and 22 percent [...]

UK minister of Trade and Investment Lord Green will visit Vietnam next week to strengthen UK-Vietnam trade and investment ties, according to the British Embassy in Hanoi. During his visit, Lord Green will discuss ways in which the UK can support urban development plans in HCM City, including work on an urban railway system, the [...]

The consumer confidence index in Vietnam reached the one-year high of 96 points in the first quarter, up eight points against the previous quarter and two points from the same period in 2012, the market research firm Nielsen said in a report on Monday. As per the report, many Vietnamese consumers felt more confident of [...]

The consumer price index (CPI) decrease in May is the indicator showing the weak aggregate demand in the national economy which needs to be stimulated to recover the economic growth. A recent report of the Hong Kong and Shanghai Banking Corporation (HSBC) said that the Vietnamese national economy would have to rely on the exports, [...]

NA deputies discussed the wasteful management that is rampant among local state agencies and departments. Minister of Finance Dinh Tien Dung reported to the NA on the topic on June 5. According to the report, weak management is rife, leading to chronic overspending. Several agencies have also used their budgets for the wrong purposes. In [...]

Vietnam’s state budget deficit rose 31,23 percent in the first five months of this year to VND77.82 trillion ($3.72 billion) or 48 percent of the whole year plan, the Ministry of Finance (MoF) said in a report. During the period, the state budget revenue was estimated at VND299 trillion, equal to 36.6 percent of the [...]

While questions abound about Vietnam’s economic health, Vietnam Association of Small and Medium Enterprises chair Cao Sy Kiem offered an upbeat assessment of business prospects in a recent interview with VIR’s Manh Bon. You say you are confident that Vietnam’s business environment is improving. What are factors behind the confidence? In the year ending May, [...]

The Mekong Delta will strive to achieve an annual GDP growth of 11-12 percent by 2020 and improve local people’s living standards during the integration process. Of the total GDP, less than 40 percent will come from agriculture, nearly 30 percent from industry and more than 30 percent from services, according to the direction of [...]

The State Securities Commission should consider several changes on the stock market to lure foreign capital, such as applying a T+0 or T+1 settlement period and restructuring companies. The opinion was voiced by the capital market working group on the sidelines of the Vietnam Business Forum (VBF). Dragon Capital director Dominic Scriven, a representative from [...]

Vietnam’s public debts, government-guaranteed debts and foreign debts were confirmed still in the safe level by the government at the National Assembly’s meeting recently. According to the deputy prime minister Vu Van Ninh, Vietnam’s public debts, government-guaranteed debts and foreign debts as of December 31, 2012 were equal to 55.4 percent, 43.1 percent and 42 [...]

HSBC’s monthly report predicts Vietnam’s GDP growth rate will only reach 5.1 percent in 2013, 0.4 percent lower than its previous forecast. The banking giant explains Vietnam’s economy continues to be hammered by weak domestic demand. The HSBC manufacturing PMI fell back to contraction territory in May, dragged down by sluggish domestic activity. Retail sales, [...]

Vietnam’s exports reached 49.9 billion USD in the first five months of this year, a rise of 15.1 percent over the same period last year, the general Statistical Office has reported. In May alone, the figure was 10.8 billion USD, up 7.6 percent month-on-month and 11.8 percent compared to that of a year ago. In [...]

Explanations from Governor Nguyen Van Binh of the State Bank of Vietnam (SBV) on the bad debt over the weekend failed to give National Assembly (NA) deputies a clearer picture on the problem, as figures are deemed conflicting. Binh tried to demonstrate to the NA the efforts of the banking sector to cope with bad [...]