Below is an abridged version of Vietnam Net’s Business in Brief segment, dated 3 April 2015.

Vietnam’s per capital GDP ranks 7th in ASEAN region

Vietnam’s per capital GDP reached USD1,908 a year in 2013, ranking it seventh in the 10-member ASEAN region, according to the General Statistics Office (GSO).

The GSO said the report by the ASEAN Statistics agency (ASEAN Stats) about Vietnam’s economic growth in 2013 showed that by 2013, Vietnam’s per capital GDP was higher than Cambodia, Laos and Myanmar and the gap with regional countries has been considerably narrowed…

Japanese economic troubles hurt country’s investment in Viet Nam

Japanese investment has temporarily fallen in the first quarter due to difficulties in the Japanese economy, said an official of the Foreign Investment Agency (FIA).

The agency, under the Ministry of Planning and Investment, said total Japanese investment capital in the first three months reached some US$295 million for 81 existing and new projects…

E-commerce critical for global integration

Vietnamese companies, especially small and medium-sized enterprises, need to use e-commerce more to strengthen their competitiveness in foreign trade, Le Dang Doanh, an economist and former member of the Government Advisory Council, has said…

Banks to speed up sales of non-performing loans

Banks plan to speed up the sale of non-performing loans (NPLs) to the Viet Nam Asset Management Company (VAMC) to meet the central bank’s deadlines, Voice of Viet Nam reported.

Eximbank will sell VND1 trillion (US$46.7 million) of NPLs to the national debt dealer, while OCB, HD Bank and Nam A Bank will sell NPLs worth roughly VND100 billion ($4.67 million) each…

PM supports $840m for HCM City’s metro plan line 5

PM has approved of technical specifications for “HCM City Urban Railway line 5″project from Thu Thiem, (District 2) to Can Giuoc (District 8) and Phu Lam (District 6) with total investment US$840m…

PM urges speeding up SOEs’ equitisation

Prime Minister Nguyen Tan Dung has urged State-owned enterprises (SOEs) to speed up their equitisation after reviewing the process in the first quarter of this year.

Only 29 out of the 289 enterprises, which were expected to be equitised this year, have reportedly completed the process. The enterprises sold State-owned stakes worth nearly VND7 trillion (US$324.59 million)…

Vietnam’s public debt on track to unhealthy high levels

Vietnam’s public debt rate may climb to 60 percent of the country GDP in 2016 and economists say the rate may be much higher than the Asian Development Bank (ADB) has forecast.

ADB economist Dominic Mellor said Vietnam may face public debt risks as the country may experience widening state budget deficit.

“If Vietnam’s state budget revenues are lower that the set target, the government will prefer state budget deficit rather than expense cut. So, the country’s public debt rate may account to 60 percent of its GDP in 2016,” he said.

The statement comes as corporate income tax cuts and exemptions, the removal of the tariffs and lower oil prices are expected to seriously affect Vietnam’s state budget revenues as state spending continues to rise, by between 5 percent and 20 percent depending on sectors…

Total compensation for protest-hit firms at VND430 billion

Non-life insurance companies paid out a total of VND430 billion (US$20 million) for 370 enterprises in different provinces over the damage caused during the worker protests against China’s illegal placement of a giant oil rig in Vietnamese waters in May 2014…

HCM City to invest heavily in hi-tech agriculture parks

The government of HCMC will spend big on hi-tech agricultural parks to attract more domestic and foreign investments, said Do Viet Ha, deputy head of the park’s management board…

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