Vietnam Airlines plans to change target

National air carrier Vietnam Airlines said it would miss its business targets for this year due to increased competition from other carriers in the domestic market.

Banks eye rate cuts to boost lending

Banks plan to expand credit in the second half by slashing interest rates and offering preferential loans to companies.

But some big banks, who have been assigned a growth cap of up to 17 percent, have already admitted that the growth target would be impossible to achieve this year, despite the fact that credit growth has been improved recently due to interest reduction to under 14 percent per annual.

Textile and garment exporters face downturn

Textile and garment producers are struggling from a lack of export contracts and market difficulties due to the ongoing public debt crisis in the EU, said the Vietnam Textile and Apparel Association (Vitas).
Rice exports decrease in first half Business

Rice exports decrease in first half

Rice exports fell in both volume and value terms in the first half of this year, the Vietnam Food Association has said.

Exporters shipped 3.4 million tonnes for a free-on-board (FOB) value of 1.5 billion USD, a reduction of 15.1 percent in value and 12.7 percent in quantity.

IT upgrade to improve services

The information technology (IT) infrastructure in Vietnam will be upgraded this year to promote public services and create greater outsourcing opportunities, according to a report prepared by the International Data Corporation (IDC).

Prime Minister Dung's New Year message

Prime Minister Nguyen Tan Dung has sent a New Year message emphasising the central tasks of 2012, which focuses on economic restructuring, growth model renovation, fast and sustainable development.

Little action on WTO integration

Vietnamese companies are facing increasingly fierce competition from foreign firms and were starting to lose a foothold on home turf.

Industrial exports expected to stall

The Ministry of Industry and Trade (MoIT) has warned of upcoming challenges in finding industrial export contracts due to financial difficulties in key export markets such as the EU and US.

Rubber exports bounce towards 2 billion USD

Vietnam’s rubber exports are estimated to reach 1.8-2 billion USD in 2010 as export prices continue rising to over 4,000 USD per tonne, said Vice President Tran Ngoc Thuan of the Vietnam Rubber Association (VRA).