Business News

[21-09-2016] The Prime Minister issued Decision 34/2016/QD-TTg dated August 23, 2016 on electronic procedures applicable to ships entering and leaving seaports, inland ports and offshore oil ports via the National Single Window (NSW) mechanism.

[21-09-2016] International Transportation and Trading Joint Stock Company (ITC) on September 18 inaugurated SP-ITC International Container Terminal worth more than US$200 million in HCMC’s District 9. The terminal has a 1,000-meter-long pier that can handle two million twenty-foot-equivalent units (TEU) and receive container vessels of 35,000 DWT in the first phase.

[21-09-2016] Southern coastal Bà Rịa-VÅ©ng Tàu Province is planning to relocate its airport from the central area of VÅ©ng Tàu City to the suburb due to safety reasons and usage inefficiency. VÅ©ng Tàu Airport covers 172ha in Ward 9 of VÅ©ng Tàu City, which is a crowded residential area.

[21-09-2016] A proposal to use State funds to settle commercial banks' bad debts, as stated in the draft plan on economic restructuring for the 2016-2020 period, has been met with a cold shoulder. Under the plan drafted by the Ministry of Planning and Investment, the feasibility of the proposal is to be studied by the Ministry of Finance and State Bank of Viet Nam.

[21-09-2016] Consultants and experts have recommended that Vietnam take measures to prevent foreign-invested projects from using outdated technologies, causing pollution and consuming national resources. Nguyen Mai, chair of the Vietnam Association of Foreign Invested Enterprises (VAFIE), said Vietnam should stop licensing projects in three business fields.

[19-09-2016] The State Bank of Vietnam (SBV) has made further efforts to reduce lending rates and strengthen support for businesses. According to SBV Deputy Governor Nguyen Thi Hong, maintaining interest rates stability is seen as a difficult task, given forecast for higher inflation.

[19-09-2016] Vietnam’s new import tariff, part of the ASEAN Trade in Goods Agreement (ATIGA) for 2016-18, has come into force. Decree No 129/2016/ND-CP, which was issued on September 1 and took effect the same day, states that the tariff is to be applied to goods directly transported from exporting countries into Vietnam.

[16-09-2016] PM Nguyen Xuan Phuc suggested expanding bilateral economic, trade and investment ties during a meeting with Chief Executive of the Hong Kong Special Administrative Region Leung Chun-ying in Hong Kong on September 15.