business news

Update news business news

Surpassing US, China becomes largest consumer of Vietnam’s farm exports

China was the only market that witnessed positive growth in Vietnam’s farm exports in 2023, while negative growth rates were reported for all other key markets.

E-commerce platforms report high growth rates in 2023

The five e-commerce platforms in Vietnam - Shopee, Lazada, Tiki, TikTok Shop and Sendo - have reported total revenue of $232.2 trillion in 2023, an increase of 53.4 percent over 2022.

Vietnamese traditional retailers buckle under strain

The rapid development of e-commerce is causing a series of commercial townhouses to close down, while shopping centres still have a stable number of customers due to positive online sales channels and sharing turnover methods.

Non-tariff barriers raise issues for improving competitiveness, compliance

Entering the market is already difficult, but maintaining market share can be even more difficult.

VN banks gain large profits from securities investment in 2023

According to financial statements of banks, the total net profit from securities investment of 12 banks in Q4 2023 increased by 195 per cent to more than VNĐ5.6 trillion, while trading securities also brought in more than VNĐ300 billion.

People tighten purse strings, market remains flat

Businesses, supermarkets and petty merchants at traditional markets have prepared large inventories for the Tet sale season, but sales have been going slowly as people have cut back on spending.

Hundreds of flights added as Tet holiday nears

Air tickets for flights on some routes with departure on peak days, from February 1 to February 19, are running out, according to the Civil Aviation Authority of Vietnam (CAAV).

Vietnam trade offices will take new opportunities to achieve sustainable export

The conference attracted participation from VN trade offices abroad, relevant agencies and businesses from 63 provinces and cities across the country.

Garment, footwear companies give Tet bonuses despite business difficulties

As production and business results in 2023 were unsatisfactory for some businesses, low Tet bonuses were foreseeable. But workers see signs of recovery in the Year of the Dragon.

Vietnam is world’s second largest footwear exporter

Vietnam is the second largest exporter of footwear in the world, with its estimated export volume accounting for 10% of the world’s market share.

Vietnam to increase trade promotion, market development in 2024

The Ministry of Industry and Trade held a trade promotion conference in Hanoi on January 31 in an effort to boost trade promotion and market development in 2024.

US to consider recognizing Vietnam’s market economy in 2024

The US Chamber of Commerce is reviewing the process of recognizing Vietnam’s market economy status, hoping to make it in time by June 2024, revealed US Ambassador to Vietnam Marc Knapper.

Administrative reforms key to fostering businesses

In 2024, the Government plans to improve the business environment through comprehensive reforms, policy changes and supporting businesses in 2024.

Agro-forestry-aquatic exports up 79% in January

Vietnam earned 5.14 billion USD from agro-forestry-aquatic exports in January, a year-on-year surge of 79.2%, the Ministry of Agriculture and Rural Development reported.

Credit offers on the rise nearing Tet

High demand during the Tet shopping season has prompted commercial banks to introduce credit offers worth hundreds of billions VND for consumers, said industry experts and insiders.

Vehicle-registration tax cut expires, domestic car output drops

The domestic car output in the first month of 2024 fell sharply compared with the previous month, but was still higher than the same period last year.

Construction starts on aircraft component factory in Da Nang

It’s the second project in the aerospace industry in the city after a project by Vietnam UAC Ltd.Co.

Vietnam has potential to promote livestock product exports to China

Vietnam expects its agricultural export value to China to increase sharply this year, as China agrees to review regulations permitting official exports of poultry meat from Vietnam to this market.

USD/VND exchange rate surges in first month of 2024

The USD/VND exchange rate has seen notable developments in the first month of 2024 when it increased significantly in both official and free markets.

92.9% of tourism businesses expect growth in revenue in 2024

Vietnam's tourism industry stands at the threshold of a remarkable milestone, with experts asserting that an impressive figure of 14-15 million foreign visitors could be achieved this year, provided unexpected issues are kept at bay.