The eight Vietnam banking exhibition and conference (Banking Vietnam 2008) officially took place in Hanoi on May 22 under the theme “Enhancing Competitive Advantage for Banks”.

An economic slowdown and reduction in consumption are greatly affecting exporters to the US market. In order to limit this impact, businesses need to focus on highly competitive products, meeting consumers’ essential demands.

A five-day international exhibition on autos and petroleum opened in Ho Chi Minh City on May 21.

The Trade Promotion Department under the Ministry of Industry and Trade will support a delegation of Vietnamese enterprises to attend the fifth China-ASEAN trade fair (CA EXPO 2008) which will be held in China from October 22 to 25.

The Camping Asia 2008 (TCA 08) and Hotel Expo 2008 were held in Hanoi on May 21 by the Vietnam National Administration of Tourism under the sponsorship and direction of the Ministry of Culture, Sports and Tourism.

About 200 enterprises are showcasing their high quality products on 650 stands at a fair in the central city of Da Nang.

Endowed with a long coastline and abundant natural resources such as seafood and a rich sea ecology, Vietnam is in an excellent position to develop its marine-based economy.

An agreement to develop a national highway network was signed between the Industrial and Commercial Bank of Vietnam (VietinBank) and the Vietnam Expressway Development Corporation (VEC) in Hanoi on May 20.

Vietnam leading IT and telecom investment fund DFJ VinaCapital LP (DFJV) and mobile phone online transaction security provider MobizCom clinched a cooperation deal in Ho Chi Minh City on May 20.

The Hanoi Real Estate Transaction Centre under the Municipal Department of Natural Resources and Environment opened an E-real estate trading floor on May 20.

On May 19, the Ministry of Finance decided to increase the import tax on gold from 0.5 to 1 percent per tael in an effort to reduce the overall trade deficit and pump more money into the national budget.

The banks on May 19 raised their annual deposit interest rates to around 14 percent in an attempt to attract more clients.

Spanish newspaper “El Pais” has run an article praising the attractiveness of Vietnam to foreign investors, which it says is built on a conflict free, stable and dynamic society and a young population with low-cost labour.

Vietnam has emerged as a leading country in implementing the United Nations Millennium Development Goals (MDGs), says Zia Qureshi, the lead author of a global monitoring report presented by the World Bank in Hanoi on May 19.

Vietnam is listed among the 30 largest exporters to the US, according to 2007 statistics released by the US International Trade Commission (USITC).

India’s biggest marble producer, Alliance Minerals, opened a wholly owned marble processing plant in the northern port city of Hai Phong on May 17.

Real estate developer VK Highlands on May 18 began the construction of a VND3 trillion urban area in Pleiku city of Central Highland Gia Lai province.

Chairman of the Ho Chi Minh City People’s Committee Le Hoang Quan has pledged to create favourable conditions for Hungarian businesses to invest in the city.

Dong Hoi air terminal was put into operation in the central province of Quang Binh on May 18 by the Ministry of Transport and the provincial People’s Committee.

The Economist, in its April 26th issue published in London, remarked that Vietnam has developed at stunning speed by letting market forces do their work. The British magazine highly appreciated Vietnam’s socio-economic achievements during the Doi moi (renewal) period.

This is specified in the State Bank of Vietnam (SBV)’s Decision No 1099, which was officially announced by SBV Governor Nguyen Van Giau at a press briefing on May 17.

Foreign direct investment (FDI) businesses will be entitled to distribute their products to domestic customers. This is specified in a circular issued in 2008 to replace the 2007 circular on FDI businesses’ commercial rights.

A seminar on ensuring consistency and transparency in business relations was held in Hanoi on May 16.

Vietnam is expected to export US$11 billion worth of commodities to the US while importing US$1.7 billion from the country in 2008 despite the US recession.

The Prime Minister has agreed on guidelines for Vietnam to work with the Asian Association to hold the 2009 Asian Enterprise Conference in Ho Chi Minh City.

Vietnam is now the fourth biggest exporter of rubber in the world, after Thailand, Indonesia and Malaysia.

The Dong Nai-based Tan Mai Paper Joint-Stock Co. plans to build a major paper and pulp plant in the central province of Quang Ngai, according to local authorities.

The agricultural sector plays an important role in the country’s socio-economic development, but has not yet received enough investment. The post-harvest processing industry is under developed and loses about 40 percent of farm products’ value.

Seafood exporters consider Egypt as a potential market as its demand is forecast to rise by 10 percent over the next five years, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The Central Committee of the Vietnamese Young Entrepreneurs Organisation (VYEO) on May 15 launched a programme to select the 2008 Vietnam Golden Star awards.