Domestic and foreign companies are flocking to Da Nang to invest in large property projects worth millions of dollars, investment officials said.

The fourth Vietnam International Precision Engineering, Machine Tools and Metalworking Exhibition (MTA Vietnam 2008) will take place in Hanoi July 9-12.

The Vietnam National Oil and Gas Group (PetroVietnam) is striving to pump out 15.5-16 million tonnes of crude oil this year, according to PetroVietnam Chairman Dinh La Thang.

Vietnam earned US$435 million from plastic exports in the first half of the year, or a year-on-year increase of 38.2 percent.

The State Bank of Vietnam (SBV) on July 4 reached an agreement with Germany’s Technical Cooperation (GTZ) and Capacity Building International (InWEnt), Germany, on a training programme for Vietnamese bankers in the 2008-09 period.

A delegation of 17 Spanish companies has visited Ho Chi Minh City to explore business opportunities in Vietnam.

As the demand for coal has already exceeded supply, the coal sector is now faced with a very challenging task of implementing its long-term development strategy to ensure the nation’s energy security.

The Vietnam Civil Aviation Administration has received a request by the Ha Long Investment and Development JSC in southern Kien Giang province, asking for permission to establish a third private airline in Vietnam.

Thai companies are being encouraged to seek offshore loans for investments in Vietnam, where interest rates are rising, Thailand’s media reported, citing an executive of Bangkok Bank (BBL).

Franchising is no longer a strange type of business to Vietnamese entrepreneurs. It is gradually establishing itself as a legitimate new field of business for those interested in small and medium-sized operations.

Vietnam gained more than US$7.6 billion from agro-forestry-fishery exports in the first half of 2008, a year-on-year rise of 24.8 percent, thanks to soaring prices and demands in the world market.

Since the beginning of this year, Vietnam’s total source of official development assistance (ODA) capital coming from donors has reached more than US$1.313 billion.

The national economy has been gradually recovering over the last six months of this year, achieving a GDP growth rate of 6.5 percent despite the impact of the global economic slowdown, according to the General Statistics Office (GSO).

Many garment companies have signed export contracts for the whole third quarter of this year at higher prices than last year.

The turnover of two-way trade between Vietnam and Switzerland reached approximately US$185 million in the first four months of this year, increasing by 18.36 percent over the same period last year.

The president of the Asia Development Bank, Haruhiko Kuroda, said on July 2 that the eight measures Vietnam was using to curb inflation would be successful if the nation stayed determined.

The US Department of Treasury will give Vietnam technical assistance in the managing and issuing of State bonds as well as designing a secondary market.

Vietnam and Uzbekistan have agreed to promote bilateral trade and investment cooperation in the areas of their strength, including garments, oil and gas, leather shoes and machinery manufacturing.

Leading American scholars from the Kennedy School of Government at Harvard University are joining Vietnamese economists, government officials and entrepreneurs at a symposium on stabilizing and advancing Vietnam’s economy, which is currently challenged by high inflation.

Vietnam fetched US$1.5 billion from rice exports in the first half of this year, almost double the figure of the same period last year, though the rice export volume increased by only 6 percent to 2.5 million tonnes.

The northern province of Hai Duong this year hopes to receive US$600 million in foreign direct investment, announced the provincial Department of Planning and Investment.

Hai Viet Corporation (Havico), a seafood processor, has become the first business in Vietnam to obtain five international certificates from URS-UKAS, a UK accreditation service provider.

Vietnam’s Thep Viet Capital on July 1 signed a strategic cooperation pact with the Inter-Pacific Capital Sdn Bhd, a subsidiary of the Malaysian Berjaya group.

The Japanese Government will continue with the second phase of its project to help Vietnam reform tax administration.

The State Audit of Vietnam (SAV) proposed increasing State coffers by VND2,764 billion and reducing State Budget spending by VND1,244 billion.

The Standard Chartered Bank (SCB) opened its Hanoi-based branch offering retail banking services on July 1, following the first one in Ho Chi Minh City in late June.

The trade gap has gradually narrowed in recent months, particularly in June thanks to a reduction in imports and a rise in the exchange rate between VND and USD, which helped promote exports and curtailed imports.

More than 200 leading Chinese groups and enterprises in various industries will participate in the China Machinery 2008 exhibition (Chinamac) scheduled to be held in Ho Chi Minh City from July 23-26.

The national strategy to become a world average income economy by 2020 is firmly grounded on the steady growth of GDP which always ranks high in the world, said Minister of Planning and Investment, Vo Hong Phuc.

Vietnam earned nearly US$1.4 billion from furniture exports in the first half of this year, an increase of 20.4 percent year on year, according to the General Statistic Office.