business news

Update news business news

Banks disclose lending rates to the public for the first time

The State Bank of Vietnam has demanded banks submit links to the section announcing various interest rates before April 1st. If there are changes to the links, they must be updated within two working days.

Banks continue to cut deposit interest rates

A decrease in deposit interest rates has been recorded in a number of banks from the beginning of April.

Coffee, pepper prices forecast to keep rising due to supply shortages

The prices of Vietnamese coffee and pepper are forecast to continue increasing due to limited supply while the export of these products has also enjoyed relative growth, according to insiders.

Foreign billionaires visit Binh Dinh to seek investment opportunities

Billionaires from Asia recently attended the 2024 Investment Promotion Conference in Binh Dinh province to seek investment opportunities. Four projects, capitalized at VND1.059 trillion in total, were licensed at the event.

The VND forecast to depreciate in H1/2024

On the interbank market, the average USD/VNĐ exchange rate is gradually approaching the peak of VNĐ24,867 per dollar from November 2023.

Vietnamese rice facing competition in the Philippines

The Philippine government is seeking to reduce its heavy dependence on Vietnamese rice by diversifying supply sources.

Vietnam faces serious shortage of aircraft: CAAV Director

Airplane engine manufacturer Pratt & Whitney’s recalling of a number of A321Neo aircraft operated by Vietnam Airlines and Vietjet Air has caused the domestic aviation industry to face a serious shortage of aircraft.

Vietnam’s billionaires move up in Hurun Global Rich List

Chairman of Vietnamese private conglomerate Vingroup Pham Nhat Vuong, at 4.8 billion USD, moved 252 places to rank 678th in the Hurun Global Rich List 2024.

Coffee price at all-time high, exporters incur losses

Coffee prices have soared, causing some exporters of Vietnamese coffee beans to cancel contracts previously signed with partners.

Vietnam waiting for major technology projects

Vietnam is waiting for major high-tech and future technology projects registered in 2024, as many foreign big names in this field have expressed their interest in the domestic market.

Japanese firm pours US$560 million into Vietnamese gas field

Mitsui of Japan is set to invest roughly JPY84 billion, equal to US$560 million, to develop a gas field in southern Vietnam under a project led by the Vietnam Oil and Gas Group (PetroVietnam), Nikkei Asia has quoted the Japanese trading house.

Vietnam emerges as world’s second largest footwear exporter

Vietnam ranks second in the world in footwear exports with an estimated export volume accounting for 10% of the world’s overall market share, according to the General Department of Vietnam Customs.

National Power Plan 8 needs clarifications: experts

After the Prime Minister released Decision 500 approving the eighth national power development plan (Plan 8), agencies and investors were expecting an overall plan, open and transparent, that guides the implementation of the plan.

Vietnam to benefit from Fed’s rate cut

According to experts, the Fed’s interest rate cut will support Việt Nam’s monetary policy management as the State Bank of Vietnam (SBV) may not be under pressure of dollar appreciation after the greenback weakens in the wake of the Fed’s rate cut.

MoIT considering request to investigate imported hot-rolled coil

The Ministry of Industry and Trade (MoIT) has received a proposal to initiate an anti-dumping investigation of hot-rolled coil (HRC) imported from China from two domestic manufacturing enterprises.

Foreign investors make beeline for VN property market

Vietnam's property market is attractive for foreign investors, according to experts.

International football betting not allowed in Vietnam until laws are clear

Minister of Finance Ho Duc Phoc said a legal framework is needed for international football betting before the business is deployed in Vietnam.

VN lacks policies to encourage use of electric motorbikes

The process of shifting from petrol-run to electric motorbikes is facing challenges. Experts say the process will succeed only if there are attractive policies to persuade people to use electric vehicles.

Agricultural product exports boom in first months of 2024

Maintaining last year's growth momentum, the exports of many Vietnamese agricultural products posted strong performance in the first months of this year.

Vietnam F&B industry in 2024 continues growth with new trends

The value of the Vietnamese F&B market is expected to grow by 10.92% this year compared to 2023.