Business

Forestry product exports rise by nearly 18% in first four months

Forestry product exports rise by nearly 18% in first four months

The export value of forestry products increased by 17.8% year on year to take in US$3.278 billion in the first four months of 2019, according to recent statistics from the Vietnam Administration of Forestry.

Businesses lobby to remove alcohol licensing for hotels

The Vietnam Beer Alcohol and Beverage Association has recommended abolishing the regulation that star-ranked hotels and tourist sites have to be licensed for selling alcohol products.

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 Startups benefit from enabling environment

The digital economy has been key to the development of Vietnam's startup community.

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Masan feels the heat over ill-judged chili sauce promotion

The Ministry of Culture, Sports and Tourism intends to investigate the Masan Group's use of a model of President Ho Chi Minh Mausoleum at a supermarket in Hanoi to promote chilli sauce.

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Long holiday sees tour demand boom

Travel companies have reported high demand for tours, particularly overseas trips, during the coming Reunification Day and Labour Day holiday which lasts for up to five days.

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 Bamboo Airways to introduce three international flights

Bamboo Airways will shortly add three international routes to its schedule, to South Korea, Taiwan, and Japan.

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Grab warned over out-of-scope operations

The Ministry of Transport has asked local authorities in Bac Ninh, Hung Yen and Vinh Phuc to deal with Grab's illegal operation in the areas.

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Vietjet Air launches Phu Quoc-Hong Kong route

New-age carrier Vietjet has officially launched Phu Quoc-Hong Kong route, making it the first airline to operate the direct services between the two destinations, contributing positively to the promotion of air travel and trade between Vietnam and Hong Kong

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Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen

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Vietnam had 12,327 people with USD3 million to below USD30 million in net assets by the end of 2018, up 23% over the past five years and the figure is projected to reach 15,776 people by 2023.

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Many banks have seen their service earnings accelerate, buoyed by increasing investment for the business segment and rising market demands.

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Vietnam has set a target to restrain inflation at below 4% in 2019, however, there may be challenges.

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Vietnam’s public debt in 2018 was estimated to account for less than 61% of national GDP, according to an official from the Ministry of Finance.

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Local banks have increasingly sought cross-border borrowings in recent years after being pressured to raise capital for lending.

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