Deposits soar in Q1 despite interest rate cuts
HCMC – Individuals’ deposits at commercial banks in the first quarter of 2023 soared by around VND415 trillion, the highest level in over 10 years, despite lower interest rates, showed data from the State Bank of Vietnam (SBV). By the end of March, individuals’ deposits totaled VND6,280 trillion,
Vietnam’s fishery export may fall short of full-year goal
HCMC – The revenue target of US$10 billion for Vietnam’s fishery export may not be met as business conditions are expected to continue to worsen until the third quarter of the year. According to statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood shipments
Interest exemption proposed for late tax payments
HCMC – The Ministry of Finance has written to the National Assembly proposing issuing a resolution that would exempt loss-making businesses from interest on late payments of taxes, land use fees and land rentals in 2022 and 2023. If approved, the proposal could result in lost revenue of VND2.5
Auto imports plummet in May
HCMC – May saw Vietnam’s completely-built-up (CBU) automobile imports dipping a staggering 33.6% to US$191 million compared to April. General Department of Vietnam Customs data showed that the country imported 7,600 CBU units last month, down 38.3% against the previous month. Indonesia emerged as
EU extends safeguard measures on steel from Vietnam
The European Union has extended its safeguard measures on steel imports from a number of countries, including Vietnam, for another 12 months until the end of June 2024.
EFTA and Singapore hold fourth round of negotiations towards a Digital Economy Agreement
On 7 June 2023, delegations from the EFTA States and Singapore met via videoconference for the fourth round of negotiations toward a Digital Economy Agreement (DEA).
Vietnam intensifies regional linkages to boost green exports
Strengthening regional linkages and harnessing the strengths of each province and city is crucial to promoting sustainable and green exports, according to experts at a recent forum on the subject held in Ho Chi Minh City.
EVFTA provides impetus for Vietnam-Italy trade
Bilateral trade between Vietnam and Italy has grown thanks to positive effects of the EU-Vietnam Free Trade Agreement (EVFTA). The trade deal brings many opportunities for increased presence of Vietnamese products in the Italian market.
Firms call for support as wood exports slump
Statistics of Viet Nam Timber and Forest Products Association (Viforest) showed that wood exports were estimated at US$4.7 billion in January – May, falling by nearly 30 per cent against the same period last year.
Vietnamese lychee, longan eye bigger market share in Singapor
The Vietnamese Trade Office in Singapore is working to promote the export of Vietnamese fruits, particularly longan and lychee, to Singapore
VND600 billion proposed for riverside embankments in HCMC
HCMC – The Transport Department of HCMC has proposed using VND600 billion from the municipal budget to construct three embankment projects to address riverbank landslides. The Can Giuoc, Cho Dem, and Saigon embankment projects are among 11 projects submitted by the department to the HCMC People’s
First fresh lychee batch exported to China by rail
For the first time a shipment of 30 tonnes of fresh lychees from Luc Ngan district in the northern province of Bac Giang has been exported to China via the Kep international intermodal rail terminal.