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Vietnam: Home to over 19,000 millionaires, with rapid growth expected

As of the end of 2023, Vietnam boasts 19,400 USD millionaires, marking the fastest growth rate globally for the period from 2013 to 2023. It is projected that the number of millionaires in Vietnam will double in the next decade.

FDI inflow expected to hit 40 billion USD in 2024, pushing GDP growth up

With positive results seen in the first half of this year, foreign direct investment (FDI) inflow in 2024 is hoped to hit 40 billion USD in the whole year, contributing to boosting the country’s growth, according to experts.

Green consumption becomes popular trend in HCM City

The retail market in Ho Chi Minh City shows a shift towards the green consumption trend.

Vietnam's H1 seafood exports hit 4.4 billion USD

Vietnam earned 4.4 billion USD from exporting aquatic products in the first half of this year, up nearly 7% year-on-year, the Vietnam Association of Seafood Exporters and Producers (VASEP) has reported.

Vietnam, Philippines agree to establish rice industry alliance

Agriculture ministers of Vietnam and the Philippines have agreed to establish a rice industry alliance between the two countries and upgrade the trade relationship to an investment partnership in the rice industry.

Vietnam's economic surge: Nearing high middle-income classification

Vietnam's economic growth rate surpasses several countries in the region, with a per capita GDP exceeding $4,300. Has Vietnam entered the high middle-income group?

Biometric security in banking: Progress and challenges ahead

Recently, Vietnam has seen the proliferation of "junk" bank accounts. These accounts are officially registered but sold to fraudsters for prices ranging from a few hundred thousand to several million VND.

Tea exports enjoy double-digit growth in first half

Vietnam grossed US$108 million from exporting 61,000 tonnes of tea during the first half of the year, up 26.7% in volume and 32.1% in value on-year, according to details given by the General Department of Vietnam Customs.

State-run economy still important after nearly 40 years of renewal

After nearly 40 years of "Doi moi" (Renewal), the State-run economic sector has developed strongly, contributing significantly to building and safeguarding the Fatherland, maintaining macro-economic stability and boosting socio-economic development.

Vietnam updates Power Plan VIII: 154 solar projects back on track

154 solar power projects, previously flagged for violations, will be integrated into the updated National Power Development Plan after resolving their issues.

Temporary exit suspension due to tax debts applied for some people

Not all individuals who owe taxes will have their departure delayed, the process only applies to a small number, according to the General Department of Taxation.

Special policies proposed to develop the semiconductor industry

The draft Law on Digital Technology Industry being developed by the Ministry of Information and Communications (MIC) for comments includes six chapters and 90 articles.

Higher GDP forecasts on robust economic recovery and new growth drivers

Recent forecasts are optimistic about the Vietnamese economy in 2024, with the gross domestic product (GDP) growth rate poised to reach around 7 per cent for the full year, higher than the National Assembly’s target set at 6.5 per cent.

Foreign withdrawals not yet a concern for market

Foreign investors have been heavily net selling on the domestic stock market, focusing on many blue-chip stocks, putting pressure on the domestic market.

Industrial real estate prices surge as major manufacturers invest in Vietnam

The industrial real estate market in Vietnam remains robust as numerous large-scale manufacturers initiate their projects, driving demand and pushing prices higher.

Starting price on wind power developer's debt slashed after four failed auctions

Agribank has announced another auction for the debt of Vietnam's first wind power project developer, the Vietnam Renewable Energy One Member Limited Liability Company (REVN), after four unsuccessful attempts to sell it.

Korean food firms eye Vietnam as potential market

The Republic of Korea (RoK)’s food industry targets Vietnam as a premier market for K-Food as companies entering the Southeast Asian country early continue to consider it as a key market for their overseas business operations, said insiders.

SEACEF II invests $10 million in Vietnam’s clean energy firm

Southeast Asia Clean Energy Facility II (SEACEF II) has invested $10 million in Nami Distributed Energy to advance innovative distributed energy solutions.

AI giving cosmetics industry a makeover

Artificial Intelligence is transforming many industries, including cosmetics, according to the leading market expansion services provider DKSH.

Central institute forecasts Vietnam’s economic growth at 6.55-6.95%

Vietnam’s economy will expand by 6.55-6.95% this year, according to a July 9 report by the Central Institute for Economic Management (CIEM) and the German Agency for International Cooperation (GIZ).