Latest blog articles
EVFTA vital to Vietnam’s trade integration: Eurocham leader
The comment was made by Chairman of the European Chamber of Commerce (Eurocham) in Vietnam Jens Ruebbert while meeting with Head of the Party Central Committee’s Commission for Economic Affairs Nguyen Van Binh in Hanoi on April 19.
During the meeting, Binh hailed EuroCham’s activities in Vietnam, and its support for the country in improving the business climate and national competitiveness in recent years.
While congratulating Jens Ruebbert on his election as Chairman of Eurocham in the 2017-2018 tenure, Binh expressed his belief that the guest will work hard to enhance links between the chamber and Vietnamese agencies on issues of common concern.
He also stressed Vietnam’s priorities of stepping up reforms to perfect the country’s economic institution, creating a competitive and fair business climate, and improving the national economy’s competitiveness. He affirmed that Vietnam always welcomes European enterprises to invest in the country.
He suggested Eurocham continue effectively cooperating with Vietnam’s agencies and organisations in the coming time, contributing to promoting the relations between Vietnam and the EU.
On the occasion, Jens Ruebbert introduced the White Book 2017 of the chamber, which analyses opportunities and challenges brought about by the EVFTA.
He also proposed several measures to fine-tune Vietnam’s investment and business climate.
Not much room for foreign investors in Vietnamese banks
Though three more banks will list shares on the UpCom market early next year, foreign investors have few opportunities to invest in Vietnamese banks. VIB Bank plans to put its shares into transaction on UpCom in early 2017. However, the room for foreign investors will be nearly filled after the listing. Commonwealth Bank of Australia, the strategic shareholder, now holds 20 percent of VIB Bank shares. Since the bank decided that foreign investors will hold 20.5 percent of its stakes at… chat_bubble_outline Read More...
Iceland left-green alliance fails to form government
Reykjavik (AFP) - Iceland's Left-Green movement said Wednesday it had failed in its bid to form a new coalition government, three weeks after snap elections triggered by the Panama Papers scandal.Allied with the anti-establishment Pirate Party, the Social Democrats and the Bright Future party, the Left-Green had been in talks since Sunday in a bid to forge a governing coalition with the centre-right Reform Party."It is evident that not all the parties are convinced to continue these… chat_bubble_outline Read More...
BUSINESS IN BRIEF 2/6
Retail, manufacturing sectors slow HCM City economy The slowdown in retail and manufacturing sectors has reduced the speed of HCM City’s economic engine despite significant gains in services, trade, industry and agriculture.At a regular meeting on the city’s social-cultural-economic, and defence-security situation on May 30, the statistic figures showed mixed signals on the city’s economic development.In the first five months, the city’s consumer price index increased only 0.86 percent, propped… chat_bubble_outline Read More...
Vietnam's government exceeds spending limit again
Vo Van Kiet Boulevard, an ODA-funded project in Ho Chi Minh City. Photo: Diep Duc Minh Discussions on weak fiscal discipline began to pop up again after new data revealed that the government in 2014 did not just spend more than it had, but also broke an overspending cap imposed by legislators. At a meeting with the Standing Committee of the National Assembly on Wednesday, Finance Minister Dinh Tien Dung reported a state budget deficit of more than VND260.14 trillion (US$11.5 billion) in… chat_bubble_outline Read More...
Carnegie Clean Energy sees rapid growth after embracing solar power
By Sonali PaulMELBOURNE (Reuters) - Carnegie Clean Energy expects annual revenue to surge 17-fold over a two-year period, its managing director told Reuters, thanks to a push into solar power with the recent purchase of fellow Australian firm Energy Made Clean (EMC).The company, which recently changed its name from Carnegie Wave Energy, sees revenue rocketing from A$1.7 million last year to more than A$30 million by 2018, mainly due to the targeted revenue growth of solar and battery company… chat_bubble_outline Read More...