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
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
Construction Ministry to aid real estate market recovery
HCMC – Prime Minister Pham Minh Chinh has instructed the Ministry of Construction to assist in revitalizing the long-dormant real estate market, as current reports indicate that only 30-40% of property brokerages are able to remain operational. During the Government meeting held in May, the
EU relaxes food safety requirements for Vietnamese instant noodles
HCMC – Starting from June 27, Vietnamese instant noodles exported to the European Union (EU) will no longer require food safety inspection certificates issued by authorized agencies in Vietnam. On June 7, the EU made amendments to Regulation 2019/1973, which governs emergency measures for
Electricity shortage in northern Vietnam eases
HCMC – The electricity supply in the northern region of the country has improved as technical glitches in several power plants have been resolved. Since June 10, Thai Binh 2 thermal power plant has resumed normal operations, generating an average of eight million kWh per day. Another thermal power
Vietnamese businesses need more electricity to recover production
Struggling to get orders in the general situation of "hungry orders, lack of capital", businesses are now afraid of not delivering on time because of a lack of electricity. Thus, Vietnamese businesses need more electricity to recover production.
70 Michelin-honored Vietnamese restaurants and eateries in 2023 (Part 2)
Following part 1, part 2 will continue to list delicious and prestigious Vietnamese restaurants and shops honored by Michelin in 2023.
Retail export turnover from business to consumer (B2C) via e-commerce in Vietnam reached 3.5 billion USD in 2022
Retail export turnover from business to consumer (B2C) via e-commerce in Vietnam reached 3.5 billion USD in 2022Retail exports via online channels were estimated at $3.5 billion last year, up 7% compared to 2021 and may increase nearly four times to $13 billion by 2027.
Reflections on pandemic
Many deputies expressed their views on the pandemic, highlighting both the unity and compassion shown by the population and the opportunistic behavior of some officials. They also addressed the existing legal loopholes and the need for short-term and long-term actions. The comprehensive report on
