China’s fishing ban on waters within Vietnam’s sovereignty, sovereign right, and jurisdiction in the East Sea is valueless, said the Ministry of Agriculture and Rural Development (MARD) in a recent document sent to coastal localities. Fishing vessels of Ninh Thuan province (Photo: VNA) China’s fishing moratorium, lasting from May 1 to August 16, covers different areas, including waters within...

The Vietnam Online Business Forum (VOBF) 2022 was held by the Vietnam E-Commerce Association (VECOM) in Ho Chi Minh City on May 10, focusing discussions on e-commerce’s role in promoting post-pandemic economic development. Illustrative image (Source: businessinsider.com) VECOM Chairman Nguyen Ngoc Dung said that along with looking into signs of global recovery, the resumption of global connections, motivation...

Over-reliance on input material imports, small production value and outdated technology were among the major weaknesses of Vietnam's steel industry, said a recent report by the Ministry of Industry and Trade. A worker inspects steel billets at a Viet Duc Steel JSC. steel mill in northern Vinh Phuc province. (Photo: VNA) The report was part of the ministry's proposed...

AEON Mall Vietnam plans to build its first trading centre in the central region, AEON Mall Hue, covering a total 86,000sq.m, with an investment of 170 million USD in Thua Thien-Hue province’s An Van Duong new urban area. An overview of Hue city. (Photo courtesy of Thua Thien-Hue Portal) The provincial People’s Committee said the plan, which was...

Illustrative image (Photo: VGP) NDO – More than 1.9 trillion VND (over 82 million USD) was collected from cases of commercial fraud to pay to the State budget in the first quarter of this year, up 39.78% over the same period last year, according to the National Steering Committee for Anti-smuggling, Counterfeit Goods and Trade Fraud (National Steering...

People will be able to withdraw cash from ATMs by scanning their chip-based ID cards under a new pilot service provided by the Ministry of Public Security. Cash withdrawals using chip-based ID cards is being piloted at several banks in Hanoi and Quang Ninh province (Photo: VNA) The ministry’s Police Department for Administrative Management of Social Order said...

Some major businesses of Denmark and Norway have expressed their special interest in developing offshore wind power in Vietnam during recent meetings with officials of the Ministry of Industry and Trade (MoIT). Turbines of the Bac Lieu wind power plant off the coast of Bac Lieu province (Photo: VNA) At the 26th United Nations Conference on Climate Change (COP26)...

The upgrade of Vietnam’s stock market from frontier to emerging status is a driving force for the future. Illustrative image (Photo: VNA) A top priority set for Vietnam’s stock market is to get upgraded to emerging status before 2025, according to market credit rating agencies Morgan Stanley Capital International (MSCI) and the FTSE (Financial Times Stock Exchange). There...

The capitalisation of Vietnam’s banking sector is expected to increase by nearly 2.8 billion USD this year. Customers make transactions at a VPBank office. (Photo: VNA) During the season of bank annual general meetings (AGM) this year, along with ambitious business plans set for 2022, 17 out of 27 listed banks have approved plans to increase capital in the...

The Vietnam Oil and Gas Group (PetroVietnam) has reported that its crude oil output reached 3.63 million tonnes in the first four months of this year, surpassing the set target by 23 percent. Illustrative photo (Source: VNA) The group’s revenue in the period was estimated at 292.6 trillion VND (12.74 billion USD), up 62 percent on-year and exceeding the...