SBV proposes increasing Agribank’s charter capital to over VND51 trillion
HCMC – The governor of the State Bank of Vietnam, Nguyen Thi Hong, has proposed revising up the charter capital of the State-run Vietnam Bank for Agriculture and Rural Development (Agribank) by VND17.1 trillion to more than VND51.4 trillion in the 2021-2023 period. Hong made the proposal at the
Demand for construction steel remains low
HCMC – Despite falling prices, sales of made-in-Vietnam construction steel posted a double-digit slump in April, the second lowest since 2022. Data from the Vietnam Steel Association showed that construction steel sales in April dropped 17% versus March and 15% against the same period last year,
Ban proposed for sleeper buses in HCMC’s inner-city areas
HCMC – The HCMC Department of Transport has proposed barring sleeper buses from entering the inner-city areas round the clock. The Transport Department has also asked other departments and relevant agencies for their feedback on the proposal. The proposal comes after four months of the ban on
Russia’s Medvedev visits Vietnam
HCMC – Dmitry Medvedev, chairman of the United Russia Party (URP) and deputy chairman of the Security Council of Russia, is in Vietnam for a three-day working visit which lasts until tomorrow. This is Medvedev’s first visit to Vietnam in his capacity as leader of the ruling URP. Party General
NA Economic Committee warns of sluggish growth
HCMC – The National Assembly (NA) Economic Committee has voiced concerns over the tough challenges which Vietnam’s economy will cope with in the months ahead. Vu Hong Thanh, head of the NA Economic Committee, said it is unlikely that the country will see any breakthrough in gross domestic product
Japan to provide Vietnam with nearly US$500 million in ODA
HCMC – Japan will provide Vietnam with JPY61 billion, or nearly US$500 million, in official development assistance (ODA) to fund its projects. Prime Minister Pham Minh Chinh and his Japanese counterpart Fumio Kishida witnessed the signing of three ODA agreements on May 21 while the former was in
Transport Ministry weighs proposal for second int’l airport in Hanoi
HCMC – The Ministry of Transport has assigned its relevant agencies to look into a recent proposal by Hanoi City to make its second airport an international one. The Ministry of Transport has written to the Civil Aviation Authority of Vietnam (CAAV) and the Transport Engineering Design
EC team to visit Vietnam over IUU control in October
HCMC – An inspection team of the European Commission (EC) will visit Vietnam to examine illegal, unreported and unregulated (IUU) fishing in the country for the fourth time in October this year, instead of May as planned. The EC has informed the Department of Fisheries at the Ministry of
Electricity prices approved for 15 renewable energy projects
HCMC – The Ministry of Industry and Trade has approved the provisional electricity prices for 15 wind and solar power plants after its negotiations with the Vietnam Electricity Group (EVN). Tran Viet Hoa, director of the Electricity Regulatory Authority of Vietnam, said that 37 of 85 wind and
Riding on rocky roads
Any hope for improving business conditions by midyear has faded due to dismal demand in main markets and macroeconomic instability. New orders plunge In its first-quarter consolidated financial statement, Century Synthetic Fiber Corporation (HOSE: STK) posted net revenue of VND288 billion,
Shortage, but abundance
Despite looming concerns over a shortage of electricity this summer, many completed wind and solar power projects have yet to be connected to the national grid, given protracted pricing problems. Multibillion-dong investments remain on hold amid soaring electricity demand. As electricity producers
Chances from businesses with strong profit growth
Most enterprises have reported their profits for the first quarter of 2023. Besides those suffering a sharp decline as predicted, there are still businesses with unexpectedly strong growth, making their valuations attractive. Looking for opportunities The stock market staged a major rally on May
