BUSINESS IN BRIEF 4/2

VN to cut tariffs on Laos imports, Flower industry needs tech growth, Masan's sales jump 90%, profits up 24% to $113m, January PMI up as new orders increase, Domestic lending drops off in January

Image: Hanoi readies for Tet

  Lunar New Year just around the corner and Hanoi puts on its brightest face in celebration.

Vietnamese can visit Hue Imperial Citadel free of charge during Tet

 Vietnamese visitors, including overseas Vietnamese, will be able to visit the Hue Imperial Citadel in the central province of Thua Thien-Hue from February 8-10 (the first to third day of the Lunar New Year) for free.

Vietnam’s GDP to grow at 6.8 percent: EIU

 The Economist Intelligence Unit (EIU)- an independent business within The Economist Group forecasted an upbeat prospect for Vietnam’s economy with a gross domestic product growth rate expected to stand at 6.8 percent in 2016.

Image: The most unique, expensive ornamental trees at Saigon’s “market for the wealthy”

VietNamNet Bridge – The most special and expensive ornamental trees are brought to the Spring Flower Festival in Phu My Hung urban area in District 7, Ho Chi Minh City, which is dubbed the “home for the wealthy”.

Vietnam’s economic freedom index rises

 Vietnam’s economic freedom index went up 2.3 points compared to last year and reached the overall score of 54, reported the Heritage Foundation in its recently published 2016 Index of Economic Freedom.

Neither Vietnamese citizen detained by Ukraine so far

 Neither Vietnamese citizen has been detained by Ukraine so far, head of the Foreign Ministry’s Consular Department Ly Quoc Tuan affirmed on February 3.

Vietnamese arrested after sneaking through RoK airport

 The Republic of Korea (RoK) on February 3 confirmed the arrest of a Vietnamese citizen who broke through Incheon international airport security to enter the country illegally.

Trans-Pacific Partnership officially sealed

 Economic ministers from 12 member nations signed the Trans-Pacific Partnership (TPP) agreement in Auckland, New Zealand on the morning of February 4.

SHB Da Nang sign strikers Merlo, James for new season

VietNamNet Bridge – SHB Da Nang have signed contracts with strikers Gaston Merlo Argentina and Horace James of Jamaica in preparation for the national football V-League championship this year. 

Dyachenko to play for Quang Ninh Coal FC

 Coach Pham Nhu Thuan of Quang Ninh Coal has finalised his team for the new season after signing a contract with American Rod Dyachenko this week.

Revenue from crude oil falls sharply in Jan

 The total state budget revenue in January was 95 per cent of the revenue year-on-year due to about 66 per cent fall in crude oil revenue, the finance ministry said.

Social News 4/2

 ATMs run out of money ahead of Tet, Dong Nai to stop unlicensed ports, HCMC transporters preparing for Tet, Misused hoist causes construction accident, Disadvantaged communes to receive aid from government

Hanoi Railway officer dismissed for old Chinese carriage purchase contract

Minister of Transport Dinh La Thang yesterday dismissed the General Director of Hanoi Railway Transport Company, Nguyen Viet Hiep, for failing to comply with the Government's policy on the import of machinery, equipment and technological lines used.

ATMs must be stocked for Tet holiday: State bank

 The State Bank of Viet Nam has told commercial banks to accord top priority to supplying cash at automatic telling machines (ATMs) during the Tet (Lunar New Year) holiday.

Potential of e-commerce market remains untapped

VietNamNet Bridge - Analysts have compared the investors and the e-commerce market with foxes and grapes. The foxes have come, but the grapes are still not ripe.

Vietnam vows not to open more coal power plants

VietNamNet Bridge - After Prime Minister Nguyen Tan Dung said that Vietnam will not develop more coal hydropower plants, environmental organizations released statements lauding the decision.

Party General Secretary conveys Lunar New Year greetings

Party General Secretary Nguyen Phu Trong offered his best wishes to incumbent and former leaders of the Party and State as well as the entire Vietnamese people yesterday on the occasion of the Lunar New Year festival.

History teacher tried to commit suicide at 15th anniversary of school establishment

VietNamNet Bridge - A teacher of history tried to kill himself with a knife at a ceremony held by the Le Quy Don High School to celebrate the 15th anniversary of the school's establishment.

New decree on foreign rep offices comes out

 VietNamNet Bridge – The Government has issued a new decree governing foreign firms’ establishment of representative offices and branches in Vietnam.

Pre-Tet photo op at flower farms

 VietNamNet Bridge – Tan Quy Dong and Cai Mon in Dong Thap and Ben Tre provinces are the two biggest flower cultivation areas of the Mekong Delta.

Vietnam could join RoK’s effort to seek recognition of lacquer

The Ministry of Culture has asked the PM's permission to join South Korea in compiling a multinational dossier seeking UNESCO’s recognition of the traditional craft of lacquer as part of the world’s intangible cultural heritage.

E-commerce gap remains disparity in Vietnam

 The Vietnam e-Business Index (EBI) 2015 report has revealed great disparity in e-commerce development among localities, particularly in big cities including Ho Chi Minh and Hanoi.

Hospitals prepare for rush ahead of new year holiday

 Hospitals across the country have prepared everything for medical examination and treatment of emergency cases before and during the Tet (Lunar News Year) holiday period.

What price has Vietnam paid for FDI?

VietNamNet Bridge - Economists have warned that the foreign-invested economic sector may become dominant in the national economy.