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Banks refuse to buy US dollars from central bank

A senior official of the State Bank of Vietnam (SBV) on July 4 told Thoi Bao Kinh Te Vietnam that commercial banks had not registered to buy dollars at preferential prices from SBV.

Ministry criticized for raising transport fees

 Deputy Prime Minister Vuong Dinh Hue has reprimanded the Ministry of Transport for allowing higher fares to be applied to railway, air and bus services, resulting in the high consumer price index (CPI) last month.

Quang Ngai residents protest over foul waste treatment site

 Many people in Nghia Ky Commune, Quang Ngai Province, have blocked rubbish trucks from entering the waste treatment plant due to the unsanitary nature of the site.

Vietnam to buy electricity from Laos

 Deputy Prime Minister Trinh Dinh Dung asked the Ministry of Industry and Trade to speed up power projects as well as buying more electricity from Laos.

VN’s auto industry at crossroads: report

Vietnam’s automobile industry is at cross roads, lagging behind ASEAN competitors, according to a report launched by the IFC and the Ministry of Planning and Investment early this week.

Vietnamese wake-up alarm app available in iOS App Store

 Alarmeow, a wake-up call application created by a group of young Vietnamese is now available at the iOS App Store.

Phone subscriber regulation under fire from telecomms firms

 A new regulation that stipulates telecommunication firms may only provide discounts for prepaid subscribers of up to 20 per cent has major problems and fails to uphold market economic principles.

Covered warrants: the answer to investors prayers?

 Covered warrants is a new investment tool that on the face of it, appears to be an effective hedging and investment instrument.

More and more companies shifting listings in H1

 Around 20 companies have shifted their listings among the stock exchanges since the beginning of this year, more than half moving back to the Unlisted Public Company Market (UPCoM) due to prolonged losses.

IFC and VPBank cooperate in $50 million commodity financing

IFC, in partnership with VPBank is extending a commodity financing facility of up to US$50 million to Tan Long Group Joint Stock Company.

Vietnam needs reforms for new FDI strategy

VN needs breakthrough reforms in FDI approach to sustain the country’s rapid economic development, competitiveness and inclusive prosperity, according to a report launched by the IFC and the Ministry of Planning and Investment.

Lam Dong fights fake Chinese spuds

 Lam Dong People’s Committee has approved a pilot project to promote the Da Lat potato brand in an effort to combat Chinese potato, which claimed to be of Da Lat brand.

Pepper prices will struggle to recover this year: Agriculture Ministry

 The Department of Farm Produce Processing and Market Development (DFPPM), under the Ministry of Agriculture and Rural Development (MARD) has forecast that pepper prices will struggle to recover in July and the rest of the year.

US-China trade war to hurt or benefit VN agriculture?

 The ongoing US-China trade war will greatly impact the structure of the world economy in the future, causing damage but also generating indirect opportunities for countries where the economy relies heavily on agricultural production like Viet Nam.

Electronics retailer owes $6.42m in fines, back taxes over past decade

 HCM City-based electronics retailer Nguyen Kim has been asked to pay US$6.42 millionin fines and tax arrears after it was found to have been improperly manipulating the amount of personal income tax its employees had to pay over the past 10 years.

Gov’t plan to reduce number of polluting enterprises

 Prime Minister Nguyen Xuan Phuc has recently approved a VNĐ535 billion (US$23 million) programme to wipe out utility enterprises seriously polluting the environment by 2020.

Network operators rush to slash 3G, 4G fees

VietNamNet Bridge - Mobile network operators, one after another, have increased the capacity of data packages by five to six times, while keeping the service fee unchanged.

Startups need venture capital

VietNamNet Bridge - Lacking venture funds and strong service bases, Vietnam is still far from reaching its goal of having 5,000 technology startups by 2020.

The concern of the billionaires’ ‘vehicle dismantling’ village in Bac Giang

In exchange for wealth, the billionaires in the ‘vehicle dismantling’ village in Bac Giang have to live in serious pollution and the fear that fire and explosion may occur at anytime.

Floor mark scheme for university no longer valid, student quality questioned

VietNamNet Bridge - Education experts have warned that university enrollment will be ‘in tumult’ this year as the floor mark scheme has been removed.