News
Gold miner Besra Vietnam suffers massive losses
Canadian Besra Inc.’s Besra Vietnam, the operator of two gold mines in the central province of Quang Nam, namely Phuoc Son Gold Company Ltd. and Bong Mieu Gold Mining Company Ltd., has suffered a loss of over VND1 trillion ($44.7 million) with a short-term debt ...
Central regions seek drought-resistant animals
The Tây Nguyên (Central Highlands) and central regions are expanding areas to breed livestock as well as other animals like sheep, ostriches, goats, honeybees and silkworms. During a seminar held in central Khánh Hoà Province about the effects of drought and saltwater intrusion on animal husbandry ...
Businesses prefer Vietnam-EU FTA over TPP
When comparing Vietnam’s commitments within the Vietnam-EU free trade agreement and the Trans Pacific Partnership Agreement, businesses see bigger benefits in EVFTA, especially in government procurement. Tran Quoc Khanh, Deputy Minister of Industry and Trade, said it was not the initial intention of Vietnam to apply ...
VN Central Bank’s $12 billion worth of US govt bonds not a surprise
Indonesia, Thailand and Malaysia, with forex reserves many times bigger than Vietnam’s, only invest 10 percent of reserves on US government bonds. Meanwhile, the proportion is 30 percent for Vietnam. Singapore invests $109 billion on similar items, while the Philippines has poured $41 billion into the ...
Industry Ministry crushes Binh Son export aspirations
The Ministry of Industry and Trade has refused Binh Son Refining and Petrochemical Co. (BSR)’s proposal to export Dung Quat oil refinery’s products, according to newswire Vneconomy. According to the MoIT, the government put a high priority on consuming Dung Quat’s products on the domestic market, ...
Productivity soars for Vietnam
Vietnamese workers have substantially improved their productivity levels in the last 15 years, according to ICAEW’s latest ‘Economic Insight: South East Asia’ event launched in Ha Noi on 10 June. According to the Institute of Chartered Accountants in England and Wales report, ‘pure productivity’ grew 2.3 ...
No decision yet to be made on Noi Bai Int’l Airport expansion
No plan for the Noi Bai International Airport expansion has yet been selected, Deputy Minister of Transport Nguyen Nhat said in a recent interview with Vietnam News Agency amidst public debate about the expansion, which is said to cost up to five billion USD. Proposals on ...
Ore mining industry suffers setbacks
A mining company has decided to give back to the state two iron ore mines with large reserves, an unprecedented move in the country. The decision to return the two mines under exploitation in Vietnam’s Ha Giang province, according to analysts, shows that the golden age ...
Binh Dinh gives 'ultimatum' to $22bil. Nhon Hoi refinery
Nguyen Ngoc Toan – Deputy Chief of the Management Board of Nhon Hoi Economic Zone – said local officials had met with Thailand’s PTT Group on the progress of the Nhon Hoi (Victory) petrochemical project. Binh Dinh officials and the investors discussed with representatives of the ...
Domestic technologies not attractive to Vietnamese businesses
The State budget every year funnels big money into national scientific research projects, but discoveries by scientists seem to have little significance in the eyes of businesses. Nguyen Huy Van, Deputy general director of Traphaco, a pharmacy firm, commented: “Scientists only show their initial ideas.” In other ...
