Central bank urged to lower interest rates on business loans

Most Vietnamese businesses have to take out bank loans at an annual interest rate of 10-13 percent, while companies in neighboring countries can access loans at a 5-6 percent rate and, those in developed economies, at a 2-3 percent rate.

Vietnam calls for US practical actions in East Sea

Vietnam hopes that the US will have a stronger voice and take more practical actions to contribute to peace, stability, security, and maritime safety in the region, and to settling regional disputes in line with international law.

Vietnam cinema to screen in Paris next week

 VietNamNet Bridge – Cinematheque Francaise will hold a program highlighting an overview of Vietnam’s cinema in Paris from June 11 to 27.

19 IT parks too many: official

 VietNamNet Bridge – Viet Nam will have 19 information technology parks by 2020, six of them in the central city of Da Nang, a few too many according to a top executive at HCM City's Quang Trung Software City.

Vietnam’s stock exchanges included in FTSE ASEAN Index

 VietNamNet Bridge – The Hanoi and Ho Chi Minh City Stock Exchanges have been included in the FTSE ASEAN Index series, the Ho Chi Minh City Stock Exchange announced on June 3.

HCM City agency misinterprets work permit rule for expats

 VietNamNet Bridge – The HCMC Department of Labor, War Invalids and Social Affairs has recently announced that foreign employees are required to apply for new work permits rather than extensions when their permits expire.

China’s long-term plot to capture the East Sea: Part 3

The use of force is not an appropriate solution to "possess sovereignty", as it is against international law, and destroys world and regional peace. If a country occupies the East Sea that way, its sovereignty will never be recognized.

Power sector needs over VND17 trillion every year

 VietNamNet Bridge – Vietnam will need more than VND17 trillion (some US$805 million) each year from now to until 2020 to invest in electricity projects as envisioned in the national power zoning plan.

Music festival targets seas and islands

 VietNamNet Bridge – The Viet Nam Musicians Association will organise a large-scale music festival focusing on seas and islands next Sunday.

Lawyer: Vietnam needs int’l support in lawsuit against China

 VietNamNet Bridge – Lawyer Truong Trong Nghia has suggested Vietnam should not take up its legal struggle against China alone; instead it needs to take advantage of international support to ensure justice is on its side.

Well-off Hanoians build stilt houses in the outskirts

 VietNamNet Bridge – Many well-off families in Hanoi have spent their money on renovating old stilt houses from mountainous regions and relocating them to the city’s outskirts as weekend homes.  

BUSINESS IN BRIEF 6/6

PM approves 15 new golf courses in zoning plan; Vietnam makes break-through in global energy sector; RoK, Vietnam energy firms ink deals; More domestic consumers put purchases on credit

Echoes from Shangri-La Dialogue

 VietNamNet Bridge – It is impossible for anyone in the 21st century to bring “swords and knives” to others’ houses and do everything he wants, Deputy Defence Minister Sen. Lieut. Gen. Nguyen Chi Vinh has said.

UNESCO body in Vietnam hits out at China’s illegal rig

The Vietnam Union of UNESCO Associations, a UN public organisation working for global peace and cooperation, has released a statement in strong opposition to China’s illegal installation of its oil rig Haiyang Shiyou – 981 in Vietnam’s waters.

National Assembly discusses changes to Law on Investment

 VietNamNet Bridge – Lawmakers yesterday heard a verification report on the revised Law on Investment. They also provided opinions on the revised Law on Civil Aviation 2006.

Hague tribunal asks China to defend sea claims

 A Hague-based tribunal has asked China to submit evidence defending its territorial claims in the East Sea within six months despite Beijing's refusal to respond to a Philippine complaint questioning the legality of Beijing's claims.

Japan still maintains ODA for VN

 VietNamNet Bridge – Japan still maintains its non-refundable aid and technical assistance for Viet Nam, confirmed an official from the Ministry of Planning and Investment (MPI).

Rainstorm kills three in Hanoi

VietNamNet Bridge – A powerful rainstorm in Hanoi that lasted one hour on Wednesday afternoon left three people dead, and caused power outages and minor flooding in many streets. 

NA deputies urge steps to reduce economic reliance on China

VietNamNet Bridge – National Assembly deputies on June 2 urged the Government to take steps to lessen the country’s economic dependence on China as East Sea tensions with the northern neighboring country may leave adverse impact

G7 leaders protest against use of force in East Sea

 Leaders of the Group of 7 have expressed their deep concern about tensions between China and a number of Asian countries in the East and East China Seas and warned against any use of force.

Voters support Party, NA, Gov’t stance on East Sea issue

 VietNamNet Bridge – Voters and people nationwide are expressing their concurrence with the high responsibility and determination of the Party, National Assembly and Government in implementing socio-economic development plans

Everyday life of child prodigies

 VietNamNet Bridge – Child prodigies have become famous, but their continued success is due to their hard work and effort.

Dollar price hits ceiling, but exchange rate stable

 VietNamNet Bridge – The US dollar climbed to its highest peak against the Vietnamese dong yesterday morning to VND21,245 per dollar, but analysts believe that the exchange rate will stabilise.

Tour operators shift focus to domestic travelers

 VietNamNet Bridge – Local travel agencies are teaming up with airlines, hotels and associations in Vietnam for tour discounts by at least 10% to woo more travelers to domestic destinations this summer.

VN travel agents set sights on MICE market opportunities

VietNamNet Bridge – Promoting Viet Nam as an attractive Meeting, Incentive, Convention, and Exhibition (MICE) destination will be a key factor in developing the nation's tourism sector,