Logistics Businesses Urged to Invest in Mekong Delta
Deputy Prime Minister Vuong Dinh Hue has called on logistics businesses to invest and expand investments in the Mekong Delta, the Vietnam News Agency (VNA) reported.
He urged the Mekong Delta localities to build a favourable business and investment environment, provide maximum support for and increase dialogues with investors to promptly remove bottlenecks.
Hanoi Innovative Business Incubator Becomes Operational
The Hanoi innovative business incubator of information technology was put into use on January 9 at 185 Giang Vo street. It is designed to have an open space with a working area, a conference and exhibition area, and the other for community activities.
This is the first incubator in the information technology field set up by the municipal People’s Committee and managed by the city Department of Information and Communications.
Party Chief’s China Visit to Define Long-Term Direction for Bilateral Ties
The upcoming visit to China of Party General Secretary Nguyen Phu Trong
on January 12-15 is aimed at further strengthening the Vietnam-China ties and defining the long-term direction for the healthy and stable development of bilateral relations future, according to VNA.
The visit, to be made at the invitation of Party General Secretary and President of China Xi Jinping, is hoped to create strong changes and improve the efficiency of bilateral cooperation in all fields, especially in economic links, thus bringing practical benefits to both nations’ development.
Business Wages Rise in 2016
The Ministry of Labor, Invalids and Social Affairs investigated wages in 2,000 businesses with an average of 360 employees in 18 cities and provinces nationwide in 2016, with results indicating an increase from 2015.
Average salaries in 2016 were estimated at 5.71 million dong (over $252) per month, representing a year-on-year rise of 7.5%, VNA reported.
Gov’t Promotes No-Cash Policy
Deputy Prime Minister Vuong Dinh Hue has signed a policy decision encouraging cash-free transactions in Vietnam in order to reduce the number of cash-based deals, improve overall electronic payment methods and control tax evasion.
Under the plan, by 2020, total cash transactions will be less than 10% of total market transactions; all supermarkets, shopping malls and distributors will accept credit cards; 70% of water, electronics and telecommunication service providers will accept cash-free payments from households and individuals, and 50% of total urban households will use electronic payment methods for daily transactions.
Vietnam Adds 1.6 Million New Jobs in 2016
Around 1.641 million people got new jobs in 2016, including at home and abroad, according to the Ministry of Labor, Invalids and Social Affairs.
This is the third consecutive year Vietnam has sent more than 100,000 guest workers to work overseas.
Metro Vietnam Changed into MM Mega Market
Thailand’s TCC Group, which purchased the Metro Cash & Carry Vietnam in January 2016, on January 10 announced the official change of the brand name “Metro Viet Nam” to “MM Mega Market Viet Nam.”
The Thai group plans to use the new brand image at all 19 wholesale centers in the Metro chain within this year, one year after it acquired the chain at a total cost of 655 million euros ($710 million).
South Korea’s Inha University Keen on Long Thanh Airport Project
Leaders of South Korea’s Inha University showed interest in taking part in the consultation, design and planning of Long Thanh Airport in the southern province of Dong Nai during a working session with provincial leaders on January 9.
Inha University leaders advised that Long Thanh airport should be developed under an airport city model, underlining the need for transportation connectivity between Ho Chi Minh City and the airport.
Major state-controlled banks in Vietnam posted big profits in 2016 thanks to rapid credit growth and continued improvement in the local economy.
At least 6.5 million Vietnamese people went abroad for holiday and spent $7 billion to $8 billion in 2016, with the top destinations being Thailand, Singapore, China, South Korea and Japan, according to the Vietnam Tourism Association.
Airports Corporation of Vietnam (ACV
), the country’s top airport developer, is expected to sell a strategic stake to Aeróports de Paris (ADP) in March as the government is striving to speed up the corporate privatization.
ADP, which runs Charles de Gaulle International Airport and Orly Airport, was the first company to express interest in becoming a strategic investor in ACV after the Vietnamese developer announced its privatization plan.
The State Bank of Vietnam (SBV), the country’s monetary regulator, has intervened to prevent the Vietnamese dong from strengthening too much against the U.S. dollar, in a bid to keep the forex market steady and support the export sector.
SBV’s Operations Center on January 9 raised the buying price of the greenback to 22,575 dong a USD, from 22,300 previously.
State Capital Investment Corporation (SCIC), the Vietnamese government’s sovereign fund, booked a net profit of 15.83 trillion dong ($700 million) in 2016, up 97% from a year earlier, thanks to the unloading of Vinamilk shares.
SCIC’s return on equity (ROE) stood at 19.9%, according to information announced at a conference on Jan. 10.