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December, 11, 2016

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Business > Asia > Vietnam
Vietnam's central bank on Tuesday cut its key interest rates for the first time in nearly a year in an attempt to kick-start the nation's sluggish economy.
 
Vietnam earned US$3.3 billion from exports of mobile handsets and spare parts in the first two months of 2014, posting a year-on-year increase of 22.9 percent.
 
Vietnam's revised bidding law, which took effect in January, prioritizes local bidders, made-in-Vietnam products, human resources development, and job creation.
 
The middle and affluent class (MAC) in Vietnam will double in size between now and 2020, from 12 million to 33 million consumers, a survey by the Boston Consulting Group (BSG) has found.
 
Up to 83 percent of Vietnamese enterprises consider cloud computing a top priority and 67 percent said cloud computing made a great impact on business transformation.
 
The United States and Vietnam on Thursday signed a pact that would allow the transfer of nuclear technology to the Southeast Asian nation and open the way for U.S. investment in the burgeoning industry, in another sign that Washington is seeking stronger economic and strategic ties in the region.
 
As bad debts clog Vietnamese banks, investors wait
The soured loans clogging up Vietnam's banks and the rows of abandoned houses gathering mold in the Hanoi rain are signs of a sick economy. But to foreign investors they represent an opportunity for sparkling returns -- if only the Communist government makes them welcome.
 
Trade fraud is an increasing problem for Vietnam's gas industry, said Tran Trong Huu, deputy general secretary of the Vietnam Gas Association, at an online discussion in Ha Noi last week. Market watch teams dealt with 400 gas trading violations in the first eight months of the year, confiscating over 15,000 gas tanks and collecting penalties that totaled 2 billion dong (US$95,200). Many enterprises used fake gas tanks to pump gas themselves from remote areas, said Do Thanh Lam, deputy head of the ministry's Market Management Department.
 
Rice exports for September is estimated at about 650,000 metric tons, bringing the third quarter's total to 1.84 million metric tons, 230,000 metric tons less than planned.
 
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