FDI in Vietnam totals US$27.7 billion in 2022
HCMC – International investors had pledged around US$27.7 billion in new capital in Vietnam in the year to December 12, or 89% of the total reported in 2021, according to the Foreign Investment Agency under the Ministry of Planning and Investment. Of the total, newly-registered capital saw a
Top 10 economic events of 2022
HCMC – Here’s a look back at 10 key economic events in Vietnam in 2022 selected by Kinh Te Saigon Online, a publication of the Saigon Times Group. Real estate market with bad records in 2022 The real estate market was known for its bad records in 2022, including inventory at a record high,
VinaCapital becomes Vietravel’s major shareholder
HCMC – Vietnam Travel and Marketing Transport JSC (Vietravel), whose VTR shares are traded on the Unlisted Public Company Market (UPCOM), announced today that VinaCapital Fund Management JSC has become its major shareholder. Vietravel Holdings, the largest shareholder of Vietravel that is holding
Tuyen Quang to build VND6.8-trillion expy to Ha Giang
HCMC – The northern upland province of Tuyen Quang has passed a plan to develop the Tuyen Quang-Ha Giang expressway project, with a total investment of VND6.8 trillion. Of the total capital, nearly VND4.5 trillion will be sourced from the central State budget, while the remainder will come from
FDI firms continue to hold lion’s share of Vietnam’s exports
HCMC – Though Vietnam has seen optimistic import-export results this year, its export sector still depends heavily on foreign direct investment (FDI) companies, accounting for nearly three-quarters of the country’s export revenue. The import and export value this year has exceeded US$700 billion
Vietnam’s export businesses benefit from EVFTA
HCMC – Vietnamese exporters have taken advantage of the European Union–Vietnam Free Trade Agreement (EVFTA), especially the trade liberalization policy of phasing out over 90% of tariffs on the exchange of goods within seven years. The import-export turnover between Vietnam and European countries
Red mandarin and spring flower festivals to be organized in Dong Thap
CANTHO – The Mekong Delta province of Dong Thap will organize its first red mandarin festival in Lai Vung District from January 5-8, 2023, and a spring flower festival during its tourism week in Sa Dec City from January 6-13, 2023. This information was provided during press briefings on December
Tuna fish export revenue hits US$1b for first time
HCMC – Tuna fish export revenue had reached US$1 billion in the year to December 21, expectedly further rising to US$1.03 billion by the year’s end, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Among the tuna export items in the first 11 months this year, frozen
Ninh Binh pilots double-decker bus service in town
HCMC – The Ninh Binh Department of Tourism has joined hands with the Anh Viet Hop On – Hop Off Viet Nam Company Limited to pilot the double-decker bus service aimed at wooing more visitors to the province. As part of the trial, the double-decker buses, which have an open-top design, started in Hoa
Nha Trang proposed for expansion by 880 hectares
HCMC – Four communes and towns in Dien Khanh District, Khanh Hoa Province, with a total area of around 880 hectares, would be incorporated into Nha Trang City, according to the amended Nha Trang City Master Plan until 2040. The four communes and towns comprise Dien An, Dien Toan, Suoi Hiep and
Large amount of sugar imported in 2021-2022 crop
HCMC – Vietnam imported a large proportion of sugar in the 2021-2022 crop to meet the domestic demand despite an 8.3% year-on-year increase in sugar output to 750,000 tons. There was a massive shortage of sugar though the country had many sources of sugar supply, such as local production, tariff
Vietnam’s outbound investment reaches US$534 million in 2022
HCMC – Vietnamese businesses poured nearly US$534 million into their projects abroad in 2022, a sharp increase over last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment. Some 109 new projects received certificates for overseas investment with total
Gov’t to add over VND900b to Hanoi’s metro line project
HCMC – The Government has decided to add over VND900 billion to the Cat Linh-Ha Dong metro line project in Hanoi. Deputy Prime Minister Le Minh Khai signed a decision amending the medium-term public investment plan using the central budget in the 2021-2025 period. According to the decision, an
Auto inspection centers to be probed nationwide
HCMC – An interdisciplinary team led by the leader of Vietnam Register will inspect the overall operations of auto registration centers in the country from January 1 to December 31, 2023, considered a key measure to enforce compliance at the registration and inspection centers. The inspection team
Vietnam sees higher agro trade surplus
HCMC – The agricultural sector’s trade surplus in 2022 is estimated to reach US$8.5 billion, improving 30% against the year-ago figure, according to statistics of the Ministry of Agriculture and Rural Development. Vietnam saw a 9.3% year-on-year increase in agricultural exports in 2022, at over
Transimex to issue nearly 16 million bonus shares
HCMC – Transimex Corporation, which trades its TMS shares on the Hochiminh Stock Exchange, will issue more than 15.8 million bonus shares to raise its charter capital by nearly VND159 billion. The board of Transimex has passed a decision adjusting the order to implement share issuance plans, with
