Vietnam’s exports to Germany grow
HCMC – Vietnam’s exports to Germany have grown strongly since the European Union–Vietnam Free Trade Agreement (EVFTA) came into force on August 1, 2020. Vietnam’s exports to Germany amounted to US$7.29 billion in 2021, and the first 10 months of this year saw the shipments continuing strong
Steel industry woes may last until mid-2023
HCMC – Steel output and consumption have plunged in recent months, and the situation is predicted to linger until the second quarter of next year. The Vietnam Steel Association said in its latest report that output of finished steel products in October had slid 16.38% month-on-month and 28.7%
G20 Summit starts, discusses how to recover together
BALI – In his opening remarks at the Group of 20 (G20) major economies summit on Tuesday morning, November 15, on the tourist island of Bali, Indonesia, Indonesian President Joko Widodo said people are responsible for collaborating to save the world and mend the global economy. “We have no option.
Can Tho plans to import sand for expressway project
HCMC – The Mekong Delta province of Can Tho plans to import sand from Cambodia due to an inadequate supply of the material for the Chau Doc–Can Tho–Soc Trang expressway project. Last weekend, Deputy Minister of Construction Le Quang Hung worked with the provincial governments of Can Tho and Hau
N.H.O headquarters certified by LEED
HCMC – The headquarters building of the National Housing Organization Company (N.H.O) has been awarded the Leadership In Energy And Environmental Design (LEED) Certificate by the United States Green Building Council (USGBC) for its eco-friendly design, construction and operation. Speaking at the
High logistics costs erode competitiveness of Vietnam businesses
HCMC – High logistics costs have made the Vietnamese economy less competitive. According to Le Quang Trung, vice chairman of the Vietnam Logistics Business Association, import-export businesses are grappling with increasingly high logistics and transport costs. The cargo shipping time has
Dragon Capital holds higher stake in FPT Retail
HCMC – Dragon Capital has increased its ownership in FPT Digital Retail Joint Stock Company from 4.98% to 5.23%. CTBC Vietnam Equity Fund, a member of Dragon Capital, on November 9 purchased 300,000 FRT shares. The share acquisition made Dragon Capital a large shareholder of FPT Retail, a
Vietnam rice prices gain top spot on global markets
HCMC – The export price of Vietnamese rice stands at the highest spot on global markets, some US$20-50 per ton higher than the rice prices of Thailand and India. In October, Vietnam’s 5% broken rice sold for US$425-430 per ton on average on global markets, the highest since last November,
F88 secures US$60 million loan
HCMC – Personal financial service provider F88 has secured a loan worth US$60 million, or nearly VND1.5 trillion, from two international financial organizations. Of the total, US$50 million is borrowed from CLSA Capital Partners via Lending Ark Asia Secured Private Debt Funds, and the balance from
PM orders prompt solution to fuel shortage
HCMC – The Ministry of Industry and Trade is told to expedite drastic measures to handle the current fuel shortage, directing wholesalers to supply sufficient gasoline to the market. In an official dispatch sent to relevant ministries on November 11, Deputy Prime Minister Le Minh Khai said the
HSBC supports Vietnam for sustainability goals
HCMC – HSBC Vietnam and the Ministry of Natural Resources and Environment have signed a memorandum of understanding (MOU) to collaborate on the Environment, Social and Governance (ESG) agenda. Under the MOU signed on the sidelines of the ongoing 27th United Nations Climate Change Conference of the
Defense Ministry agrees to build specialized airport in Binh Phuoc
HCMC – The military airfield in Hon Quan District, Binh Phuoc Province, is being considered for conversion to a specialized airport. The Ministry of National Defense has approved the proposal of the southern province of Binh Phuoc to develop a specialized airport at the location of the former one
Banks offer high rates to attract demand savings
HCMC – With the ratio of current account, savings account (CASA) having dropped sharply in the last nine months, many banks have raised interest rates for demand savings and deposits to attract more cash since the State Bank of Vietnam (SBV) recently hiked key interest rates. The CASA ratio is
Minimum monthly salaries for public employees set to rise in mid-2023
HCMC – The National Assembly of Vietnam has decided to raise the minimum monthly salary to VND1.8 million as of July 1, 2023. On November 11, at the fourth meeting of the 15th National Assembly, the NA passed a resolution on the state budget for 2023. Accordingly, the minimum monthly salary for
Transport Ministry moots shortening toll collection period for Highway 51
HCMC – After 15 rounds of negotiations, the Department for Roads of Vietnam under the Ministry of Transport and the investor have yet to agree on when to stop toll collection on National Highway 51. Under the project agreement, the estimated toll collection period would last 20 years and six
British Council resumes Aptis tests in Vietnam
HCMC – The Ministry of Education and Training has approved the resumption of Aptis testing at the British Council and four other companies two days after several foreign language examinations were postponed. The four other companies with testing approval from the ministry comprise Vietnam Trading
