Hanoi (VNA) – The prices of RON 92 petrol and E5 bio-fuel were reduced by 391 VND per litre as of 3 pm on December 18, the 5th consecutive cut and the 22nd adjustment so far this year. The petrol and oil price control joint team of the Ministry of Industry and Trade and the Ministry of Finance said with the reduction, the price of RON 92 petrol will not be higher than 16,405 VND (0.72 USD) per litre and that of E5 bio-petrol not more than 15,910 VND (0.7 USD) per litre. The price of diesel oil also dropped by 1,246 VND per litre, while that of kerosene and…
Registrations of ‘.vn’ domains rise
Hanoi (VNA) – More than 106,300 new “.vn” domain names were registered in the first 11 months of this year, bringing the total number of “.vn” domain names to 343, 370, a year-on-year increase of 16.4 percent, according to the Vietnam Internet Network Information Centre (VNNIC). The VNNIC held a conference on December 10 to review its activities this year and discuss plans for next year. The “.vn” domain name was the most registered country-code top-level domain (ccTLD) in the ASEAN region and is now expanding in Asia. According to the Asia Pacific Top Level Domain Association (APTLD), “.vn” registrations were ranked in the top 10 in the region this…
Deputy PM: Changing cash-payment habit boosts economic growth
Hanoi (VNA) – Changing cash usage habit to e-payment will not only boost economic growth but also promote Vietnam as a civilized nation, said Deputy Prime Minister Vu Duc Dam on December 16. He made his remarks at the Vietnam E-Payment Forum in Hanoi held by the State Bank of Vietnam (SBV) and VnExpress, an online newspaper. Online payment accounts for 90 percent of total transactions in developed countries and the Gross Domestic Products (GDP) hereby rose by about 1 percent, Dam explained. Vietnam has been ready for e-payment in terms of infrastructure and the Government has set goals to stimulate online transactions for years, yet consumers seem not willing…
Banks battle it out in Tet loans market
Hanoi (VNA) – Commercial banks and financial companies are fiercely competing for a slice of the profitable personal loans market as demand often rises sharply at the end of the year. Industry insiders said the period between December till the Tet (Lunar New Year) holiday is always the most popular period for personal loans, as Vietnamese people requires money for home repair and purchase, shopping and car purchases. To meet the rising demand, many banks are offering preferential loan packages to attract customers. VietBank is marketing home purchase loans at an annual preferential interest rate of eight to nine percent for the first year. An Binh Bank is offering loans…
Vietnam believed to gain the most in TPP
Vietnam stands to gain the most among 12 countries concluding the Trans-Pacific Partnership (TPP) deal’s negotiation early this week, said the Los Angeles Times on October 8. The US-based daily newspaper quoted the Peterson Institute of International Economics as saying that Vietnam’s textile-garment and footwear sectors are very likely to boom once the TPP is effective. The pact will let the country ship many products tariff-free to a market where members together constitute two-fifths of the global trade. The nation is also improving its tax and investment policies, developing infrastructure and pursuing other trade pacts to entice more investments, the newspaper noted. Investment bank Goldman Sachs forecast that Vietnam’s economy…
More foreign investors open stock tcodes in Vietnam
VSD has also agreed to adjust information on 25 foreign investors, including six organisations and 19 individuals. It also canceled the codes of one foreign unit. In the first 11 months of the year, the authority issued tcodes for nearly 1,000 foreign investors. Of these, 661 were individual investors and 277 were foreign organisations. The number of individual investors has reached a record high since 2011, thanks to Decree No 60/2015, which went into effect in September, creating more room for foreign investors. Vietnam continues welcoming more foreign investors to the country and to open stock transaction accounts. Currently, Vietnam has issued tcodes to 18,508 foreign investors, of which 2,864…
Taiwan’s 1-bln-USD paper plant gets investment license
The People’s Committee of southern Binh Duong province granted an investment license to Taiwan-based Cheng Loong Binh Duong Paper Ltd, Co. on December 4 for the construction of a 1-billion-USD paper plant. It is the largest foreign direct investment project in the locality in 2015. The 75-hectare plant will be located at Singapore Ascendas – Protrade Industrial Park in Ben Cat district. It is designed to produce 1 million tonnes of industrial paper and 50,000 tonnes of household paper per year. The first phase of the project will start in December and is expected to be operational by January 2018. According to Chairman of Cheng Loong Corporation in Taiwan Su…
CBRE Vietnam manages Phu My Hung projects in HCM City
HCM City (VNA) – Commercial Real Estate Services (CBRE) Vietnam has been selected to manage the Phu My Hung Development Corporation’s commercial projects in Ho Chi Minh City’s District 7, according to CBRE on November 30. CBRE Vietnam will manage seven projects including office buildings and commercial centres that cover a combined area of 160,000 sq.metres. CBRE Managing Director Marc Townsend expressed his delight at the deal and hoped that the two companies will cooperate more in the future for the development of the district. CBRE Vietnam pledged to provide the best services for clients, investors and residents in the area, Marc Townsend said. Phu My Hung is the first…