Central bank pumps more money into system
HCMC – The State Bank of Vietnam (SBV) yesterday, November 3, injected some VND5,000 billion into the banking system via open market operations for a 14-day term without any withdrawals. This marked the second consecutive injection into the system, following VND15,522 billion on November 2. On the
Vietnam’s digital economy grows fast
HCMC – Vietnam has one of the fastest growing digital economies in Southeast Asia, with the gross merchandise volume (GMV) expected to rise by 28% this year. The national digital economy’s GMV is forecast to climb from US$18 billion in 2021 to US$23 billion in 2022 due to a surge in e-commerce,
Vietnam plans to upgrade status of stock market
HCMC – Vietnam looks to upgrade the status of its stock market from frontier to emerging before 2025, the Ministry of Finance said. The ministry is seeking the prime minister’s approval for a draft strategy for stock market development until 2030. According to the draft, the stock market
NovaGroup, Sokimex join hands to develop urban area
HCMC – NovaGroup and Sokimex Investment Group have signed a deal to develop a 115-hectare urban area in the Mekong Delta province of Dong Thap. The two sides expect to complete legal procedures for the Blue Dragon project in the first quarter of next year and start work on the project in the next
Vietnam expects 2022 coffee export at US$4 billion
HCMC – Vietnam’s coffee exports may rise to a record high of US$4 billion this year amid a global undersupply and the upcoming harvest season. Coffee exports in the year to September had soared 37.6% over the same period last year, at US$3.1 billion, the Ministry of Agriculture and Rural
Vietnam Int’l Retailtech and Franchise Show 2022 opens in HCMC
HCMC – Vietnam International Retailtech and Franchise Show 2022 (VIETRF 2022) opened at the Saigon Exhibition and Convention Center in District 7, HCMC, on November 3. VIETRF is the largest and only exhibition in Vietnam on franchise and retail, organized annually by Coex Vietnam, Retail &
Danang Int’l Fireworks Festival 2023 set for next June
HCMC – The Danang International Fireworks Festival 2023 (DIFF 2023) is set to take place from June 3 to July 8 next year by the Han River in the central city of Danang, after a two-year pause due to the Covid pandemic. The People’s Committee of Danang said yesterday, November 2, that it had mapped
Investors cut deals to develop ready-built factories, logistics infrastructure
HCMC – BW Industrial Development Joint Stock Company (BW) and SEA Logistics Partners have signed an agreement with the Saigon Telecom Technology Joint Stock Company (SaigonTel) to develop ready-built factories and logistics infrastructure in Thai Nguyen Province. On November 2, SaigonTel began
Railway companies report profits after two years of losses
HCMC – Hanoi and Saigon railway companies, the two subsidiaries of the Vietnam Railway Corporation (VNR), reported their respective after-tax profits of almost VND35.2 billion and over VND38.3 billion in January-September. Hanoi Railway in its financial report said its revenue from January to
Vietnam’s economy rebounds strongly
HCMC – Vietnam’s economy has seen strong recovery this year, according to data from the General Statistics Office of Vietnam. The vibrant post-pandemic economic growth of Vietnam has been facilitated by controlled inflation and macroeconomic stability. Between January and October, foreign trade
Central bank says real estate loans restricted to ensure safety for banks
HCMC – Vietnam’s central bank governor has said real estate loans are being restricted to protect commercial banks and control inflation. Speaking at a Q&A session of the National Assembly today, November 3, Nguyen Thi Hong, governor of the State Bank of Vietnam (SBV), said that at a time when
Ha Do’s major shareholder sells nearly one million shares
HCMC – Nguyen Phuong Dong, a major shareholder of Ha Do Group JSC, which trades its HDG shares on the Hochiminh Stock Exchange, has sold 930,000 HDG shares. The share sale sent Dong’s ownership in the real estate company falling to 16.2 million shares, or a 6.62% stake. In mid-September, Viet
HCMC proposes establishing fuel market monitoring team
HCMC – The HCMC Department of Industry and Trade has written to the city government proposing setting up a team in charge of tackling issues with fuel supply in the city. The team will be responsible for monitoring the fuel market, proposing solutions to tackle shortcomings in the fuel supply
Vietnam has one more digital transformation center
HCMC – ITG Technology JSC has launched a digital transformation center to support businesses with digital transformation. The ITG DX Digital Transformation Center will provide firms with knowledge about basic digital transformation and experience from many leading experts. ITG’s experts will help
Binh Dinh to host conference on promoting investment from Germany
DANANG – The south-central province of Binh Dinh will hold the “Hybrid Conference on Promoting Investment From German Enterprises” on November 21. The conference is expected to attract 100-120 representatives from German businesses and organizations, as well as 50 firms operating in Binh Dinh.
HCMC tax agency told to provide information about over 700 businesses
HCMC – The HCMC Tax Department has been told to provide the Ministry of Public Security (MPS) with information about over 700 companies active in the southern city to help with an ongoing investigation. The required information includes tax codes, financial reports, tax returns and business