business news

Update news business news

ICAEW: Vietnam, a soft 2024, but a bright medium-term outlook

The latest Economic Insight report for Southeast Asia, commissioned by the Institute of Chartered Accountants in England and Wales and Oxford Economics, forecasted that Vietnam's economy to grow by 4.7 per cent in 2023.

Bank bad debts forecast to remain under great pressure in 2024

Though the asset quality of banks in Vietnam will be temporarily under control until the end of 2023, experts said more attention should be paid to the issue in 2024 as bad debts are rising.

Zero-VND rooftop solar power scheme to quell ‘clean power’ strategy

The draft of the dossier proposing the compilation of a decree on rooftop power development has been opened for public opinion.

Shoppers facing potential risks of online shopping

Shoppers are facing potential risks of online shopping including the purchase of counterfeit goods, poor quality goods, smuggled goods, and goods of unknown origin being sold widely on cyberspace and e-commerce platforms.

Gold hits all-time high of VND80.22 million per tael

The domestic SJC gold price continued its upward trend on the morning of December 26, soaring by VND1.6 million per tael to VND80.22 million (US$3280.05) per tael - surpassing all historical peaks.

Positive outlook for Vietnamese economy: foreign experts

WB official said Vietnam's economy remains resilient in 2023 meanwhile ADB Country Director points to three main growth drivers of Vietnam's economy in 2024.

VN textiles and garments yet to fully unlock FTA’s advantages and potential

Vietnam's textile and garment industry has not been able to fully capitalize on the advantages and potential of FTAs, according to the Ministry of Industry and Trade (MoIT).

Government requests support to maintain Bamboo Airways

Deputy Prime Minister Le Minh Khai has requested six ministries and agencies to act within their jurisdiction to urgently handle proposals by Bamboo Airways to help save the air carrier.

Continuous trade surplus helps stabilize exchange rates

This year the export of many products such as electronics, spare parts, garments and textiles, footwear, and wooden furniture all failed to achieve as expected.

Vietnam spends US$7.8 billion on oil and petrol imports in 11-month period

Domestic enterprises imported a total of 9.4 million tonnes of petrol, oil, and other petroleum products worth US$7.8 billion over the past 11 months of the year.

Shipbuilding firm prepares for bankruptcy procedures from Q1 2024

The Government has given the green light to a bankruptcy resolution plan for the Shipbuilding Industry Corporation (SBIC) and its seven subsidiary companies.

Vietnam among biggest exporters of Christmas decoration products to US

Vietnam is one of the countries that exports the most Christmas decoration products to the US. Among its export products to the US, candles used at Christmas achieved impressive export turnover.

Government assigns ministries to solve difficulties for Bamboo Airways

The Government Office announced the conclusion of Lê Minh Khái, Deputy Prime Minister, at the meeting on handling petitions from Bamboo Airways.

Firms expand business as 2024 nears

Enterprises are sprinting on the last days of 2023 to compete their yearly production and business plans, and some are expanding their business activities to welcome the New Year 2024.

Green transformation and green aquaculture development become inevitable trend

Vietnam is a littoral country with huge potential and advantages in order to develop the marine economy, including the fishery economy.

Export results in 2023 provide stepping stone for rice sector next year

Export results in 2023 are believed to be a stepping stone for the rice sector to seek new markets, affirm the brand of Vietnamese rice, better guarantee national food security, and promote sustainable production and export in the time ahead.

Solar power projects’ fate unclear as regulations remain undecided

The Ministry of Industry and Trade (MOIT) has submitted to the Prime Minister a plan on implementing the eighth power development plan (Plan 8) for approval. However, the plan doesn’t contain a list of solar power projects that have found investors.

Mechanism proposed to remove hindrances to offshore LNG and wind power projects

The Electricity and Renewable Energy Authority has been tasked with drafting a report for the National Assembly, seeking guidance on removing impediments to the implementation of offshore liquefied natural gas (LNG) and wind power projects.

Timber exports seen declining 15.5% this year

Vietnam’s timber industry is expected to see a 15.5% year-on-year drop in exports, totaling US$13.5 billion, according to the Vietnam Timber and Forest Product Association (Viforest).

Market of nutritional supplements chaotic

Currently, the market of nutritional supplements is very developed but also extremely chaotic as shop assistants boated about the usage of their products.