January budget revenue rises 7.5 per cent State budget revenue was estimated at a total of VND144.6 trillion (US$6.15 billion) in January, representing a rise of 7.5 per cent over the same month of 2018. The month’s budget collection was equivalent to 10.2 per cent of the target for the full year. According to the latest report from the Ministry of Finance, domestic revenue accounted for more than 83 per cent of the total and rose by 5.3 per cent over January 2018. Revenue from crude oil was estimated at VND4.5 trillion, up 5.7 per cent. Imports and exports maintained their growth momentum in the first month of 2019, the ministry said, adding that trade revenue reached VND19.5 trillion, or 10.3 per cent of the plan for the full year. Budget spending was estimated at VND92.9 trillion. In January, VND30.4 trillion worth of Government bonds were issued. The ministry said that, in January, it asked the Prime Minister to issue a directive on enhancing the use of official development … [Read more...] about BUSINESS NEWS IN BRIEF 13/2
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BUSINESS NEWS IN BRIEF 26/1
Rice exports set to pick up in Q1 2019 Rice exports are predicted to thrive during the first quarter of 2019 as regular importers are giving positive signs, according to a Ministry of Agriculture and Rural Development source. Rice exports to regular importers such as the Philippines and Indonesia will soar in the first quarter of 2019 as both have recently been hit by natural disasters. The Agro Processing and Market Development Authority made the prediction at a press conference on January 22. The conference briefed expectations of farm produce exports during 2019, reported the news outlet Vietnam Economic Times. The authority stated rice exports to regular importers such as the Philippines and Indonesia will soar in the first quarter of 2019 as both have recently been hit by natural disasters. As many as 166 Filipino companies have made plans to import 1 million tons of rice, of which many have been ordered from Vietnam. This move came after the Philippines lifted its import … [Read more...] about BUSINESS NEWS IN BRIEF 26/1
BUSINESS NEWS IN BRIEF 19/10
Norwegian solar companies seek cooperation opportunity in Vietnam A group of Norway’s leading solar companies attended a Norwegian Solar Seminar in Hanoi on October 15 to look for cooperation opportunities with local partners in the solar energy sector. The event is co-organized by Royal Norwegian Embassy and Power Engineering Consulting Joint Stock Company 1 (PECC1), under the Electricity of Vietnam (EVN) with the attendance of Norweiginan Ambassador designate, Ms Grete Lochen, Commercial Counsellor Mr Harald Naevdal, General Director of EVN PECC1 Mr Pham Nguyen Hung, representatives from the Ministry of Industry and Trade, and over 70 participants from the EVN and its subsidiaries, independent power plant owners, construction companies, private investors from Vietnam and Laos, suppliers and consultants and other stakeholders. At the seminar, an energy consultant of the World Bank presents an overview of Vietnam’s solar energy, highlighting the achievements of … [Read more...] about BUSINESS NEWS IN BRIEF 19/10
BUSINESS NEWS IN BRIEF 6/9
SSI upgrades stock board and order services for Web Trading SSI Web Trading, an online trading service from Saigon Securities, has upgraded its online stock board and updated two more conditional orders for derivative trading. The two new orders, namely OCO and Bull & Bear, are the two most useful orders in derivative trading. With this upgrade, all market data displayed on the board and order screen will be updated consecutively and immediately, helping investors track stock prices and follow transactions quickly and accurately. In June, SSI also upgraded its Web Trading by adding four more types of conditional orders. The continuous upgrades to the platform demonstrates SSI’s efforts in providing diversified, efficient trading tools for profit maximisation and risk prevention for clients when practicing derivative trading. With two new conditional orders, OCO and Bull & Bear, SSI has six types of conditional orders, including Up, Down, Trance Up, … [Read more...] about BUSINESS NEWS IN BRIEF 6/9
BUSINESS NEWS IN BRIEF 16/8
Vietnam firms join Tamil Nadu food expo in India Seven Vietnamese enterprises are showcasing their products at Vibrant Tamil Nadu - Global Expo & Summit 2018 in the Indian state of Tamil Nadu, which runs from August 12-15. The food and beverage expo also features nearly 200 Indian firms and representatives from 29 other nations. Several workshops on food, processed food and beverages and measures to boost the sector’s development have been held at the event, along with meetings between participating firms and state authorities. The Vietnamese enterprises discussed the possibility of signing some memoranda of understanding on cooperation in food production and processing and on investment in industrial zones with Indian partners. Bui Trung Thuong, Chief of the Vietnam Trade Office in India, briefed Indian partners on Vietnam-India economic and trade ties, the prospects of the Vietnamese food sector and opportunities for the two countries’ businesses. India ranks 27th … [Read more...] about BUSINESS NEWS IN BRIEF 16/8