News
PVN encouraged to expand gas, oil exploration activities
Vietnam’s Deputy Prime Minister Hoang Trung Hai requested the National Oil and Gas Group (PVN) to continue to search for new sites, and produce more oil and gas in 2016. He described these activities as a key task for the sector in 2016. Speaking at a conference ...
Vietnam tax authorities to get tough on Uber: report
More than a year after entering Vietnam and constantly facing authorities’ scrutiny and protests from taxi companies, US-headquartered cab-hailing service Uber is in the hot seat for failing to pay taxes. Speaking to Tuoi Tre newspaper on 9 January, a Ho Chi Minh City tax official ...
Thailand's TCC acquires Metro Vietnam for $704 million
Thai consumer goods group TCC Holding Co. Ltd has completed its acquisition of the Vietnamese operations of Metro for 655 million euros (US$704.1 million). TCC’s subsidiary TCC Land International Pte. Ltd. takes over Metro’s 19 stores and related real estate portfolio in Vietnam, the German company ...
Trade-friendly Vietnam now offers far more than just low-cost labor
Vietnam is seen by many foreign businesses as being a very attractive place to invest in and do business for many reasons, Francois Guibert, Chairman of the EU-ASEAN Business Council says. “Vietnam has a lot more to offer investors than just low-cost labor,” Guibert told Thanh Nien ...
Community sues border police over loggers
A group of villagers in Mondolkiri province filed a lawsuit this week against three local border police officers and a forestry official accusing them of allowing Vietnamese loggers to sneak across the nearby border and illegally log the forests they depend on for a living. Khut ...
Vietnam bans leasing land inside Cambodia
Vietnam has agreed to ban its citizens from leasing land in Cambodia to avoid increasing tensions along the border following a request from Prime Minister Hun Sen, according to Interior Minister Sar Kheng. Kheng on 6 January said that Vietnamese Prime Minister Nguyen Tan Dung had agreed ...
Vietnam airlines refuse to cut fares despite cheaper fuel, bigger revenue
Vietnam’s transport minister has called for lower airfares to match a sharp decline in fuel costs, but carriers say their tickets are already affordable. At a meeting on 4 January, Minister Dinh La Thang asked that Vietnam Airlines make its tickets cheaper after the national carrier reported ...
Finance ministry weighs in on controversial dairy back taxes of $30 million
Eight dairy importers and producers in Vietnam may be able to escape back taxesof VND700 billion (US$30.69 million) in a controversial case of import tariff calculations that even officials cannot see eye to eye on. The businesses, including Vinamilk and Dutch-owned FrieslandCampina, said they have imported an ...
Vietnam beer sales up 10 pct amid rising competition
Vietnam’s beer production grew 10 percent in 2015 to 3.4 billion liters, with a new report saying the pace has slowed down from a decade ago due to competition with foreign brands. Saigon Beer, Alcohol and Beverage Company (Sabeco), the biggest player in the market, produced ...
Ho Chi Minh City now has 7.4 million motorbikes, and counting
Ho Chi Minh City now has 7.43 million motorbikes, putting serious pressure on its transport infrastructure, local media reported, citing the Department of Transport. Compared to 2011, the number of new bikes registered in the city has increased by around 2 million, according to a Tuoi Tre ...