Inflation Forecast to Rise Slightly This Month
Vietnam’s consumer price index (CPI) is expected to edge up in April from a month earlier, according to the Ministry of Finance.
Inflation will be driven by higher demand for a number of goods and services such as transport, tourism and clothing due to seasonal factors, drought and saltwater intrusion in the Mekong Delta, and increases in fuel prices.
WTO Chief to Visit Vietnam
Director-General of the World Trade Organization (WTO) Roberto Azevedo will arrive in Vietnam on April 14 for a two-day visit.
Mr. Azevedo will meet with government officials and representatives from business and academia. “It’s important for me to listen to all those things and check how the WTO can help. And how we can deepen the dialogue between the two of us,” he told the Vietnam News Agency (VNA).
Vietnam Mineral Sector Urged to Invest in Advanced Technology
Science and technology are key solutions for the success of the mineral sector, so enterprises should make additional investments in new technologies to ensure more effective exploitation, safety and environment protection, said Cao Quoc Hung, deputy minister of Industry and Trade.
Mineral firms should have specific evaluations of their abilities to take measures to improve science and technologies for the period of 2016-2020, he noted at a conference in Hanoi on Tuesday.
Vietnam Banks Urged to Make Use of TPP
The Vietnamese banking industry should take advantage of the Trans Pacific Partnership (TPP) to develop and integrate with global markets, VNA quoted experts as saying at a seminar in HCM City yesterday.
“Greater participation of foreign investors will help the industry strengthen its resources, technology and management as well as to expand cooperation,” said Luong Hoang Thai, head of the Ministry of Industry and Trade’s Multilateral Trade Policy Department.
Vietnam’s Two Bourses Move Closer to Merger
Hochiminh and Hanoi stock exchanges on Tuesday agreed to jointly build a common index, part of bigger efforts to merge the two bourses in a single one and attract foreign players.
The common index is expected to be officially launched by the end of this year, said HOSE General Director Tran Van Dung.
1337 Ventures Marks Entry into Vietnam with Alpha Startups Vietnam 2016
Malaysia-based accelerator and early-stage investor 1337 Ventures has announced its entry into the Vietnam market with the launch of Alpha Startups Vietnam 2016, part of a strategic partnership between co-working space Dreamplex and the Mekong Business Initiative.
Through this arrangement, Dreamplex aims to ramp up expansion into an accelerator model via its new division Dream Labs.
Viettel to Pour $1.5 Billion in Myanmar
Military-run telco Viettel plans to invest $1.5 billion to set up a mobile network in Myanmar, in a joint venture with two Myanmar firms MEC and SPV, Saigon Times Online cited Viettel Deputy General Director Le Dang Dung as saying.
Viettel and the two partners will set up a joint venture firm next month, where Viettel will hold a 49% stake. After the establishment, the joint venture will receive a license to set up a fourth mobile network in Myanmar.
Eximbank Board Member Steps down
Cao Xuan Ninh has been relieved from board membership of Ho Chi Minh City-based Vietnam Export Import Commercial Bank (Eximbank) for “personal reasons.”
After leaving Eximbank, Cao Xuan Ninh will assume a position at the State Bank of Vietnam
, the country’s central bank, a source told BizLIVE
Vietnam Welcomes Indian Investors: Ambassador
Vietnam welcomes Indian companies to invest in the oil and gas industry, textiles, support industries, pharmaceuticals, food processing, IT, mechanics, infrastructure development and renewable energy, said Vietnamese Ambassador to India Ton Sinh Thanh.
Speaking at a conference held by the Vietnamese Embassy in India and the Federation of Indian Chambers of Commerce and Industry on April 12, Thanh highlighted expanding Indian investment in Vietnam and the great potential for investment links between the two countries’ enterprises.
Hanoi Calls for PPP Investments in Key Projects
Hanoi will hold a business promotion conference at the end of this month where it will call for Public-Private Partnership (PPP) investments in a large number of infrastructure projects.
Among the projects are eight new bridges, eight railway routes, the Hanoi Railway Station, underground infrastructure facilities, belt roads and roads along the Red River.
Capital outflow in Vietnam surged in the third quarter of 2015, mostly seen in overseas forex deposit as the Vietnamese central bank moves to tackle dollarization in the economy and the Chinese yuan was strongly depreciated, the Vietnam Institute for Economic and Policy Research (VEPR
) said in its latest report.
The outward flow, mostly composed of overseas forex deposits, soared to $7.3 billion while the figure was insignificant before, said VEPR, noting that this abnormality needed close monitoring.