Economy and commerce

The world’s biggest sustainable palm oil association has frozen the operations of one of its most prominent members on concessions in Indonesia because of failures to meet its standards on new planting. The Complaints Panel of the Roundtable on Sustainable Palm Oil issued a stop-work order ...

Korean conglomerate Lotte Group got the go-ahead from the HCM City People’s Committee on Wednesday to develop the Thủ Thiêm Eco Smart City in District 2. The 74,420sq.m project in the core of the Thủ Thiêm New Urban Area will cost VNĐ20.1 trillion (US$884 million) ...

Vietnamese steel manufacturers are importing more and more scrap steel for domestic production, as this is the easiest and most profitable way to make steel. According to Bui Van Muu from the Metallurgy and Material Technology Faculty of the Hanoi University of Technology, the steel production ...

Customs officers at the Tan Son Nhat International Airport in HCM City on May 4 discovered over 4kg of products from elephant tusks and pangolin scales illegally transported from Africa to Vietnam. The products included bracelets and jewellery suspected of being made of African elephant tusks ...

The government needs 2,420 billion kip to respond to budget expenditure that occurred in the first quarter of this year (January to March), a government leader has said. Of this figure, 957.7 billion kip is owed from the budget deficit in Q1 and the rest ...

Less rice was planted this dry season with the government reducing the target from last year, largely due to the lack of irrigation. Speaking at the ongoing National Assembly session recently Minister of Planning and Investment Dr Souphanh Keomixay said farmers had planted about 84,580 ...

Acleda Bank’s foreign operations in Laos and Myanmar performed well during the first quarter of 2017 while recording strong net profits last year, leading the bank to seek further regional expansion, according to a senior executive. Acleda has 41 commercial branches in Laos and six MFI ...

After years of delays and setbacks, the Cambodian firm set to operate the Kingdom’s landmark oil refinery finally broke ground on May 4 on a $1.62 billion project with an updated completion date set for the middle of 2019. The oil refinery, which will be built ...

Kandal province’s department of animal health and production released four trucks carrying pigs from Vietnam after they were temporarily detained on suspicion of the swine being infected. The trucks, headed to Kandal province’s Kien Svay district and Takeo province’s Bati district, were stopped by authorities ...

Despite being dubbed the leading economic sector of HCM City, the city’s tourism sector is struggling with a lack of qualified human resources. According to the National Administration of Tourism, HCM City’s tourism sector needs roughly 40,000 new workers added to the labour pool each ...