business news

Update news business news

Early issuance of direct power purchase critical to promote foreign investment

Further delay in the issuance of the direct power purchase agreement will affect the foreign investment attraction of Việt Nam.

Exports face challenges despite enjoying robust growth

Several industries such as garment, textile and seafood have all recorded impressive export growth over recent times, despite conflicts in various regions globally remaining complicated, heard a forum held on April 25.

Durian exports gross US$253 million in first quarter

Vietnam raked in US$253 million from exporting nearly 57,000 tonnes of durian during the first quarter of the year, representing an increase of 42% in volume and an rise of 63.7% in value on-year.

Apple suppliers in Vietnam climb to 35 in 2023

The number of Apple partners setting up factories or offices in Vietnam increased from 27 to 35 from 2022 to 2023, ranking first in the region and fourth in the world.

SBV postpones gold auction for second time

The State Bank of Vietnam (SBV) has announced a postponement of Thursday's gold auction session, as there was only one bidder who submitted a tender.

Techcombank seeks a strategic foreign partner

At the 2024 Techcombank annual general meeting of shareholders on April 20, Chair of the Board of Directors Ho Hung Anh announced that the bank is seeking a foreign strategic shareholder.

Remittance inflows expected to quench real estate sector’s thirst for capital

Amid a “thirst” for capital of real estate businesses, the strong inflow of remittances is expected to heat up the market again, held insiders.

Vietnam launches national Halal Certification Authority

HALCERT, operating under QUACERT, will oversee certification activities and facilitate discussions, training and international cooperation in the Halal sector.

Ministry warns about frauds when doing trade with partners in UAE

The Asia – African Market Department under the Ministry of Industry and Trade on Wednesday sent a warning about signs of frauds related to shipments imported from the United Arab Emirates (UAE).

Keeping CPI low key to inflation control this year

Vietnam's CPI must stay within the upward 0.26-0.39 per cent range for the rest of the year to keep inflation within 4.0-4.5 per cent in 2024.

Top 500 fastest growing enterprises 2024 announced

A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC on April 25.

Vietnam emerges as fastest growing digital economy in ASEAN

Vietnam has become a leading market for the digital industry for both local and international players.

Co-op owner sells bananas, wants to earn carbon credits

“Our bananas have been in high demand in recent years. They have always sold, even during the Covid-19 pandemic,” said Ly Minh Hung, director of Thanh Binh Cooperative.

VAT overhaul to boost agriculture prospects

Vietnam is set to revise its existing Law on Value-Added Tax with a reclassification of products in areas like agriculture and fisheries, with the hopes of making them more favourable in performance.

Auction for gold bullion to continue on April 25

Another bidding session for 16,800 taels of gold bullion will be held on April 25, the State Bank of Vietnam said in a statement.

LNG-fired power too expensive, pricing problems remain unsettled

LNG-fired power is seen as a good solution to emission reductions because power plants running on LNG generate 50 percent fewer CO2 emissions than one burning coal. But production costs will be high, VND2,400-2,800/kwh.

Shopee, Lazada, TikTok earn trillions of VND from beauty, skincare products

The total retail revenue of the five largest e-commerce platforms in Vietnam (Shopee, Lazada, Tiki, Sendo and Tiktok Shop), reached VND71 trillion in the first quarter of 2024. A large proportion of revenue came from skincare products.

Standard Chartered lowers Vietnamese GDP growth forecast to 6%

Standard Chartered Bank has moved to lower Vietnam’s GDP growth forecast for the year to 6% from the previous figure of 6.7% due to lower-than-expected growth in the first quarter of the year and global trade headwinds.

More officials investigated for suspected links with Phuc Son Group JSC

The police have officially started legal proceedings against Vice Chairman of the Vinh Phuc provincial People’s Committee Nguyen Van Khuoc and five others for their suspected involvement in the case at the Phuc Son Group JSC.

SBV takes more actions to stabilise foreign exchange rates

The State Bank of Vietnam on April 23 took some moves in the inter-bank market in the face of surging USD/VND exchange rates.