PM orders swift action amid short supply of fuel
HCMC – The prime minister has issued a telegram ordering the relevant ministries and agencies to take swift action to cope with the ongoing fuel supply disruptions. The prime minister asked the Ministry of Industry and Trade to promptly review fuel trading regulations and propose supplementing and
Half of animal feed material to be sourced from local suppliers
HCMC – Animal feed prices show no signs of declining, putting livestock farmers on tenterhooks. The Ministry of Agriculture and Rural Development plans to send the Government a draft decree on production support policy aimed at ensuring at least 50% of animal feed material will be locally sourced.
US$1.3-billion LEGO plant gets off ground in Binh Duong
HCMC – Danish company LEGO today, November 3, broke ground on a US$1.3-billion plant in the southern province of Binh Duong. The environmentally friendly facility, covering 44 hectares of land at the Vietnam-Singapore Industrial Park, will be LEGO’s sixth plant in the world and its second in Asia,
Vietnam’s new overseas investment capital increases
HCMC – Vietnam’s new overseas investment capital increased sharply in the first 10 months of the year, showed data from the General Statistics of Vietnam. There were 90 Vietnamese-invested projects licensed abroad, with total capital of US$390.1 million, 1.8 times higher than the same period last
Vietnam, China sign fresh-banana deal
HCMC – The Ministry of Agriculture and Rural Development of Vietnam and the General Administration of Customs of China inked a protocol on requirements to export fresh bananas from Vietnam to the northern neighboring market on November 1. Fresh bananas exported to China will be picked between 10
OCB allowed to increase charter capital
HCMC – Orient Commercial Joint Stock Bank (OCB) has received the nod from the State Bank of Vietnam to increase its charter capital by VND4,110 billion via a bonus share issue. After the bonus share issue for its current shareholders, the bank’s charter capital will rise to VND17.8 trillion, the
Danish jewelry producer joins hands with FPT Software to build factory
HANOI – FPT Software, a unit of FPT Corporation, has announced its partnership with Julie Sandlau, one of the world’s leading jewelry producers, to build a smart jewelry manufacturing facility in Vietnam. The plant will be developed at the Hoa Lac hi-tech park in Hanoi City and be completed by the
Int’l tourist arrivals in Vietnam surge in Jan-Oct
HCMC – Over 2.35 million international tourists traveled to Vietnam between January and October, a year-on-year surge of 18.8-fold, according to statistics from the General Statistics Office of Vietnam. In October alone, the country welcomed 484,000 international visitors, up 12.1% month-on-month
PMI growth at 13-month low
HCMC – Although business conditions in the Vietnamese manufacturing sector continued to improve at the beginning of the fourth quarter, the Vietnam Manufacturing Purchasing Managers’ Index (PMI) grew the slightest in 13 months. The S&P Global Vietnam manufacturing PMI registered 50.6 in
Vietnam International Agriculture Fair opens in Can Tho
HCMC – The Vietnam International Agricultural Fair 2022 kicked off at the Can Tho Promotion Agency (CPA) this morning, November 2, with 250 booths from over 100 domestic and international enterprises and a series of important events lasting until November 6. The fair aims to support enterprises in
Ecommerce platforms not required to pay taxes on behalf of sellers
HCMC – Ecommerce platform operators in Vietnam will have to provide tax agencies with information about sellers, instead of having to pay taxes on their behalf. This is one of the new regulations stipulated in the Government’s newly issued Decree 91, which amends and supplements Decree 126, and
NA deputies say relevant ministries must bear responsibility for fuel dearth
HCMC – The ongoing short supply of gasoline on the local market is an unusual phenomenon, requiring higher responsibility from the relevant ministries and agencies, National Assembly (NA) deputies told local reporters today, November 2. NA deputy Tran Van Lam, a NA Finance and Budget Committee
Vietnam reports Jan-Oct trade surplus of US$9.4 billion
HCMC – Vietnam exported goods worth US$312 billion and spent US$303.42 billion on imports between January and October, resulting in a trade surplus of US$9.4 billion, according to the Ministry of Industry and Trade. Statistics showed that exports and imports in the January-October period rose by
HCMC’s economy faces headwinds
HCMC – Global economic uncertainties and irregularities involving several local businesses are headwinds for the economy of HCMC, the country’s economic center, said officials and experts. These headwinds might affect the city’s economic recovery plan this year, they said at a meeting on the
Banks report handsome profits in Q3
HCMC – Many local banks have released their business results, which indicate huge third-quarter profits. Asia Commercial Bank (ACB) recorded a pretax profit of nearly VND4.5 trillion between July and September, surging by 71% year-on-year. VPBank put its pretax profit at over VND4.5 trillion in
HCMC launches new information system to handle admin procedures
HCMC – HCMC aims to improve administrative reform and public service quality to satisfy the needs of residents and enterprises through the city’s new information system for handling administrative procedures. The city’s new information system at dichvucong.hochiminhcity.gov.vn offers 452 online