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BUSINESS IN BRIEF 23/1

 Last year sees strong luxury car sales; Swiss firms invest US$1.94 billion in Vietnam; Foreign textile firms reel out new investments in anticipation of TPP; VSIP looks to expand Quang Ngai investment

Wave of bankruptcy of seafood producers

 VietNamNet Bridge – Many seafood processing companies in southwestern provinces of Vietnam have gone bankrupt, resulting in the instability of the largest aquaculture area of the country.

Pictures: Saigon’s park looks like a logging site

 VietNamNet Bridge – Many beautiful trees in the park of Gia Dinh, which is considered HCM City’s green lung, are being chopped down to make way for construction of a 14-km road connecting Tan Son Nhat Airport and Highway 1.

Cheap Vietnam stocks are set to rise to 7-year high

 Vietnam’s stock strategists say the benchmark index will jump to a seven-year high this year as accelerating economic growth boosts earnings and the cheapest valuations in Southeast Asia lure investors.

Remittances to HCM City top $5 billion

 VietNamNet Bridge – Vietnamese living abroad remitted over US$5 billion to HCM City last year, 4.2 per cent higher than in 2013, according to figures released at a meeting held by the city's Committee for Overseas Vietnamese yesterday, Jan 21.

ECB set to announce large-scale bond-buying programme

 The European Central Bank (ECB) is expected to announce a huge bond-buying programme later on Thursday, aimed at revitalising the eurozone economy.

HCM City canal remains dirty after $46m cleanup

 VietNamNet Bridge – Though HCM City and Binh Duong have spent more than a trillion dong (US$46.7 million) in the past eight years to clean up the Ba Bo Canal, the increasing discharge of untreated wastewater

Art & Entertainment News 22/1

 Photos of wild birds on show Saturday; Well-preserved ancient kiln found in Binh Dinh; Culture gala fetes VN-German ties; Expat-actor group stages pantomime show; French-Vietnamese gourmet festival to open

HCM City to host nation’s first Debutante Ball

 HCM City will host the nation’s first International Debutante Ball on February 15 at the Sheraton Hotel and attending the high-society event is sure to become the new status symbol.

German dignitaries to visit Vietnam

 German Minister of Foreign Affairs Walter Steinmeier and President of the German Bundestag Nobert Lammert will visit Vietnam in March to commemorate the 40th anniversary of diplomatic ties.

Akamai: Vietnam’s Internet traffic second slowest in Asia-Pacific

 A report by U.S. cloud computing services provider Akamai on the Internet in last year’s quarter three says Internet speed in Vietnam was the second slowest in Asia-Pacific after India.

Facts and figures about veteran Vietnamese CEOs

VietNamNet Bridge – Most seasoned Vietnamese businesspeople were born in the 1960s and are aged between 46 and 55.

Hoi An ancient town to offer free admission during Tet holiday

 Visitors will be offered free admission to Hoi An ancient town in Quang Nam province and some other related tourism destinations from February 18 to 21, on the occasion of the upcoming Lunar New Year (Tet).

Global media spotlight Vietnam’s tourism attractions

 VietNamNet Bridge – Vietnam’s credentials as an international travel destination gathered momentum in 2014 after the nation received kudos from the global media as a must see travel destination on many occasions.

BP boss Bob Dudley: Oil prices 'low for up to 3 years'

 The boss of oil giant BP's boss Bob Dudley has said that oil prices could remain low for up to three years.

Rising smuggling challenges market monitors

 The trading of smuggled and counterfeit goods in HCMC is on the rise, challenging local market monitors, according to the city’s market monitoring agency.

Viettel to invest in Myanmar

Viettel Global, a subsidiary of Viettel Group, has approved a resolution to invest in a telecommunications company in Myanmar with the total registered investment capital of $1.8 billion, according to the company’s website.

War Minutes wins 2014 prose prize

 Veteran journalist Tran Mai Hanh won the Vietnam Writers' Association most important prize of the 2014 year, poet Huu Thinh, chairman of the association, confirmed yesterday.

No smaller banknotes to be issued for Tet

 The State Bank of Viet Nam does not plan to issue new banknotes with denominations lower than VND5,000 (23 US cents) for the Tet (Lunar New Year) holiday, to cut costs.

Vietnam steps up climate change adaptation efforts

Vietnam is making substantial efforts to fulfil its National Target Programme to Respond to Climate Change in 2015.