With millions of visitors, including 5 million foreigners, visiting Ho Chi Minh City every year, tourism has become one of the city’s key economic sectors. However, traffic problems are posing a challenge to the sector.

 As many as 13,102 new enterprises were established in April, the highest figure in the past 12 months, representing a month-on-month rise of 8.9 percent, according to the General Statistics Office (GSO).

 The country’s total retail sales and services revenue reached 1,267.9 trillion VND (56.7 billion USD) in the first four months of this year, a year on year increase of 6.7 percent.

Two major credit rating agencies, Moody’s and Standard & Poor’s, on Friday affirmed Viet Nam’s sovereign rating, citing the country’s strong FDI inflows, macroeconomic and external stability and modest external debt burden.

 Vietcombank (VCB) shareholders approved the lender’s plan to issue an additional 360 million shares, equivalent to 10 per cent of its capital, to expand its charter capital to almost VND39.6 trillion (US$1.74 billion).

 Saigon Securities Incorporation (SSI) has decided to issue bonds worth 300 billion VND (13.3 million USD) to financial and credit institutions.

 Kazakhstan was crowned the champions of the Asian Women’s Beach Volleyball Championship after defeating Thailand 2-0 on May 1.

 The Dai Nam Joint Stock Company opened an international standard racecourse invested at more than 2 trillion VND (87.9 million USD) in the southern province of Binh Duong on May 1.

 Japan’s Tasuno company will extend the agreement on technical cooperation and technology transfer signed with the Vietnam National Petroleum Group (Petrolimex) in August 1999, said Petrolimex.

 Speaker of the House of Representatives of Japan Oshima Tadamori and his spouse will pay an official visit to Vietnam from May 4 – 6, said the Vietnam National Assembly’s Committee for External Relations’ statement.

Vietnamese Ambassador to Canada Nguyen Duc Hoa has affirmed that the Vietnamese embassy in Ottawa and Vietnamese Consulate General in Vancouver will always link the overseas Vietnamese up with the home country.  

VietNamNet Bridge - The competition to enter primary schools has already begun, though official enrollment will only begin in mid-June.

VietNamNet Bridge - The solar heat reflectivity of a new paint invented by a local scientist is up to 90 percent, while the concrete surface temperature reduction could be up to 8-9oC. 

VietNamNet Bridge - Vietnamese packaging firms, especially small and medium sized, have to compete with foreign firms which have advantages in technology and financial capability, and must rely on imported materials.

VietNamNet Bridge - District 12 alone has 18 canals that need to be improved with needed investment capital of VND817 billion.

In 2007, the State Bank began testing intermediary payment services. Nine pioneers in the market received licenses to provide services. 

VietNamNet Bridge - Concerns have been raised about the acquisition of Phuoc Son and Bong Mieu gold mining companies, especially as the two investors taking over the bankrupt businesses are familiar names.

 Tay Ninh Province police on April 30 busted a drug trafficking ring operating between Cambodia and Viet Nam, arresting three traffickers and seizing 21 kilos of heroin.

 Mrs Hue owns a seven hectare plantation of clean vegetables. Each day, her farm supplies from 800 kilos to 1.2 tonnes to the domestic market.

 The domestic garment industry has faced many challenges in exporting to key markets, such as the European Union (EU) and the United States, but it still has a chance of achieving its export target this year.