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BUSINESS IN BRIEF 10/1

 VN steel export up last year, Real estate brokers association opens office in Thanh Hoa, Hanoi expects to welcome 5.5 million foreign tourists in 2018, First bank reduces loan interest rates in 2018

Blood type O shortage

 The amount of blood type O available at the National Institute of Haematology and Blood Transfusion on Wednesday dropped to 2,934 units, from 3,500 units, after blood was distributed to hospitals in Hanoi and the northern provinces on Monday.

Securities firms seek margin lending funds

 Many securities companies have opted to issue corporate bonds to raise capital to finance their margin lending service, following upbeat forecasts for the market in 2018.

National Assembly Standing Committee’s 20th session opens

 The National Assembly (NA) Standing Committee convened its 20th session in Hanoi on January 10, which is scheduled to deal with a range of matters within one and a half days. 

Photo contest featuring Vietnam’s landscapes launched

 A photo contest themed “I love Vietnam” was launched in Hanoi on January 10, aiming to increase the archive of photos to promote the country’s tourism. 

Kon Tum approves project to grow over 4,600ha of Ngoc Linh ginseng

 Local authorities of the Central Highlands province of Kon Tum have approved a project to grow Ngoc Linh ginseng in Tu Mo Rong district, in a bid to preserve and develop the medicinal plant.

Ministries disagree on plan to raise taxes

The Ministry of Finance (MOF) has sent drafts of tax laws to the Ministry of Justice (MOJ) before being submitted to the Prime Minister and NA for approval in 2018.

Social News In Brief 10/1

, SOS Children’s Villages Vietnam receives first-class Labour Order, HCM City, Osaka youths enhance friendship cooperation, “Colours of Japan” to bring unique experiences for Vietnamese audience

Thua Thien-Hue issues code of conduct for tourists

 The Department of Tourism of the central province of Thua Thien-Hue has issued a code of conduct for tourists in Vietnamese and English.

HCM City plans to build smart apps for administrative procedures

 All administrative units of Ho Chi Minh City need to build applications (apps) so that local people could access information via their smart devices, said Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee.

Businesses still concern about high costs

 Half of respondents in a recent survey expressed concern about the competitiveness of domestic goods, in which business cost plays a decisive role but it is still high.

Foreign logistics firms now allowed in VN

 Foreign investors will be allowed to establish companies providing logistics services following Decree 163, which will take effect on February 20.

Khai Duc Company to be penalised

 Khai Duc Company, which owns Khaisilk brand, will be given stringent punishment for violation of norms and fraudulent trading.

Household appliance industry worth $13b

 The household appliance industry in Viet Nam has great potential, but fierce competition is expected to occur among producers, distributors and retailers.

VN sea transport posts positive growth

The maritime transport sector achieved positive growth last year, but the international logistics industry faced many challenges, according to the Viet Nam Maritime Administration (Vinamarine). 

G-bonds worth over $7 billion issued in 2017

 G-bonds worth VND159.9 trillion (US$7.04 billion) and having an average maturity of 13.52 years, up 4.81 years against 2016, were issued last year, according to the Ministry of Finance.

VN central bank not to print small currency notes for Tet, says cash only for payment, not offerings

 The State Bank of Viet Nam (SBV) has announced it will not be printing small currency notes for Tet (the Lunar New Year) this time too, the sixth straight year it has desisted from doing so.

Prices forecast to remain stable, even fall in 2018

 Prices tend to remain stable, even fall slightly in 2018, heard a workshop in Hanoi on January 9 to review prices in 2017 and make forecast for 2018.

Vietnam to officially connect to ASEAN Single Window in 2018

 Deputy Prime Minister Vuong Dinh Hue chaired a meeting Hanoi on January 9, asking ministries and sectors to work harder to officially connect Vietnam with the ASEAN Single Window mechanism in 2018.

PM Nguyen Xuan Phuc arrives in Cambodia for Mekong-Lancang summit

 Prime Minister Nguyen Xuan Phuc arrived in Cambodia’s Phnom Penh International Airport at noon on January 10, beginning activities within the framework of the second Mekong-Lancang Cooperation (MLC) Leaders’ Meeting.