Local market to see stronger competition; Number of operating businesses highest since 2011; Russia’s Inter RAO to develop $2.4bn thermal power plant in central Vietnam; January’s on-year hike in FDI points to a bumper year ahead

The State Bank of Vietnam (SBV) has submitted to the government a plan on launching a VND50 trillion a credit package aiming to help revive the commercial housing market.

 VietNamNet Bridge – Traditional Tet rituals will be showcased from today to February 15 at the Ministry of Culture spring festival in Ha Noi.

 VietNamNet Bridge - Growers in the resort city of Da Lat are busy handling orders for cymbidium orchids from traders throughout the country to serve the upcoming lunar New Year.

 VietNamNet Bridge – Vietnamese information and communication technology (ICT) firms have reported profit from their offshore operations which are more active than ever in the face of stronger competition at home.

 VietNamNet Bridge - The State Capital Investment Corporation (SCIC) invested more than VND13 trillion in businesses by the end of 2014, according to its latest report.

The Ho Chi Minh City Department of Tourism set a target of 4.7 million visitors in 2015, making a year-on-year increase of 7 percent.

KOICA is assisting Vietnam in building a long-term development agenda for the establishment of a multi-purpose land information system through a non-refundable aid package from the Government of the Republic of Korea .

 VietNamNet Bridge – Huynh The Nang, general director of Vietnam Southern Food Corporation (Vinafood 2), told The Saigon Times Daily about solutions to settle huge debt and lead the State-run corporation to a new stage of development. Excerpts:

 VietNamNet Bridge – The Ministry of Culture, Sports and Tourism discourages violent, brutal and barbaric festivals such as the pig-chopping festival in Bac Ninh Province, the ministry’s spokesman Phan Dinh Tan has said.

Vietnam’s international integration process has entered a new and important period which will offer a new development space for the country, businesses and each citizen but also create a number of challenges, including new and unprecedented issues.

 VietNamNet Bridge – Minister of Transport Dinh La Thang suggested passengers boycott enterprises reluctant to lower fares after multiple fuel price reductions when he inspected fee reductions

 The Hue Monuments Conservation Centre undertook an US-funded project worth US$700,000 (VND14.7 billion) to restore the facade of the Trieu To Temple in the ancient imperial citadel of Hue in central Thua Thien-Hue province on February 6.

The government of Vietnam is considering raising the ceiling on foreign ownership in weak banks which are undergoing restructuring, Deputy Governor of the State Bank Nguyen Phuoc Thanh said.

VietNamNet Bridge – Scientists have warned that underground water in rural areas near industrial zones is becoming seriously polluted and depleted.

 Deputy Prime Minister Nguyen Xuan Phuc and his Lao counterpart Somsavath Lengsavath cut the ribbon to launch the “one-stop-shop” model at the Lao Bao (Quang Tri)-Densavan (Savannakhet) international border gate on February 6.

 Japan will continue its support for Vietnam’s Doi Moi (renovation) policy and its help for the country in human resources training and law making experience sharing.

 VietNamNet Bridge – Vietnamese retailers are facing fierce competition from several new foreign players in the market, who also have strong financial potential and experience.

 VietNamNet Bridge – Traders at some traditional wet markets in HCMC are extending their operations until late at night in the lead up to the Lunar New Year holiday, which begins on February 19.

 A cultural strategy for Vietnam's foreign relations until 2020 with a vision for 2030 has been approved by Prime Minister Nguyen Tan Dung.