The Ministry of Finance expects to float the price of milk products for children under six years old by the beginning of next year after the price ceilings for the products are eliminated.

The government has set targets for economic growth of between 6.5 and 7 per cent and total GDP of between VND30,621 trillion ($1.37 trillion) and VND31,487 trillion ($1.41 trillion) over the next five years.

Many banks have recently opened numerous branches and transaction offices, causing concerns about safety for the banks and unhealthy competition within the banking system.

Since early February the ASEAN Deep Value Fund has been acquiring more shares of Hong Ha Viet Nam Joint Stock Company (PHH) and Thanh Nam Investment and Construction Joint Stock Company (CSC). It now owns 10.9 per cent and 13.9 per cent of the businesses.

Vietnamese retail chains are hurrying to expand their networks in anticipation of stiff competition with foreign giants.

Vietnam is set to become the biggest beneficiaries of the Trans-Pacific Partnership (TPP) trade deal out of the four Southeast Asian participants, the other three being Brunei, Malaysia and Singapore, according to the UK Financial Times.