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Over 126,800 new enterprises set up in 2017

 Vietnam saw 126,859 new enterprises established with a total registered capital of 1,295.9 trillion VND (57 billion USD) in 2017, up 15.2 percent in number and 45.5 percent in capital year-on-year.

Government leader host Chairman of RoK’s Panko Corporation

 Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on December 27 for Choi Young Joo, President of the Republic of Korea-Vietnam Friendship Association and Chairman and CEO of the Panko Corporation.  

First national forum discusses organic farming

 The first national forum on organic agriculture took place in Ho Chi Minh City on December 27, discussing solutions to develop the sector.

Vietnam’s 2017 achievements to be highlighted

 Two seminars on Vietnam’s achievements in socio-economic development, external relations and international integration in 2017 will be held in early January.

15 defendants imprisoned for terrorist act

 The HCMC People’s Court on December 27 imposed imprisonment sentences ranging from 16 years to five years on 15 defendants on the charge of “conducting terrorism against the people’s administration” under Article No.84 of the Vietnam Penal Code 1999.

PM offers to share rice cultivation experience with Cameroon

 Vietnam is willing to share experience in wet rice cultivation and other fields with Cameroon, Prime Minister Nguyen Xuan Phuc said at his reception for Cameroon Foreign Minister Lejeune Mbella Mbella in Hanoi on December 27. 

Da Nang, Hoi An prepare for New Year

 VietNamNet Bridge – Visitors to the central coastal city of Da Nang this New Year will find themselves immersed in a celebratory atmosphere, as the city is planning many festive activities.

VN aims to boost tourism

 VietNamNet Bridge – Vietnam wants to make tourism a key economic sector by 2020 that creates a driving force for the development of other sectors.

BUSINESS IN BRIEF 28/12

Sacombank’s NPL ratio declines sharply to 4.4 percent, Nhan Co aluminum plant surpasses yearly target, Vietnamese farm exports have big potential in China, Lam Dong calls for foreign investment in 53 projects

Economists fear big money supply may lead to high bad-debt ratio

To obtain a 20 percent credit growth rate this year, total outstanding loans will have to increase by VND1,200 trillion. In the last five last months of the year, VND700 trillion is expected to be pumped into circulation.

What is the cost to retain workers?

VietNamNet Bridge - The average pay from Vietnamese companies is 29 percent lower than multinationals. 

Banks still struggling to settle bad debts

VietNamNet Bridge - Sacombank and VP Bank are leading the list of banks with the highest NPL (non-performing loans) ratios.

Prof Ngo Bao Chau: university management is ineffective

Prof Ngo Bao Chau, a renowned Vietnamese mathematician and Fields medal winner, believes that poor management is one of the greatest challenges faced by Vietnam’s higher education system.

Vietnam tries stem cell therapy on 21 kinds of disease

VietNamNet Bridge - Though Vietnam started later than developed countries in applying stem cells for medicinal purposes, it has made significant progress in the field.

Vietnam makes effort to protect coral reefs

VietNamNet Bridge - Up to 25 percent of marine species reside under coral reefs, many of which have been damaged.

Young talented violinist Do Phuong Nhi to perform at Hanoi concert

Talented violinist Do Phuong Nhi will perform with the Vietnam National Symphony Orchestra under the baton of American conductor Wes Kenny at the Subscription Concert Vol. 107 at the Hanoi Opera House on January 5.

Fed hikes show limited impact on overseas remittances

 Over the past several years, the foreign remittance inflows sent by over fours million Vietnamese workers living from 187 countries and territories have been steady, despite the Fed’ raising interest rates three times in 2017.

Social News 27/12

 WB funds water supply projects in Red River Delta, VSS: Social insurance coverage on the rise, Cities increase goods supply to avoid price shocks before Tet, National meeting reviews external information work in 2017

Snow emergency in US town after huge storm

 A heavy storm has brought a record amount of snow to the US city of Erie on Christmas Day, forcing officials to declare a state of emergency.

Exhibition shows talents of Vietnamese fine arts lecturers

 A total of 30 artworks by four lecturers from the Vietnam University of Industrial Fine Arts are being displayed at an exhibition that opened at the Korean Cultural Centre in Hanoi on December 26.