Heat sends electricity consumption soaring to record highs in HCMC
HCMC – Hot weather has sent electricity consumption in HCMC soaring to record highs in recent weeks as the demand for air conditioning and electric fans has skyrocketed. The city used 94.4 million kWh of power on May 5, the highest daily electricity consumption level ever, according to the HCMC
Turn cultural values into tangible products
Cultural tourism is emerging as one of the most important sectors in Vietnam this year. The Ministry of Culture, Sports, and Tourism has predicted that the tourism sector would be able to generate around US$130 billion in revenue by 2030, with cultural tourism accounting for 20-25%. With the
In rough seas
Vietnam’s woodworking industry has performed poorly in the year to date. Its anxiety among local exporters and manufacturers has increased further as the market outlook remains as uncertain as ever. Restructuring production, cutting costs and finding niche markets are among measures for staying
Getting back on track
HCMC’s exports plunged to a 22-year low due to a nearly 17% year-on-year drop in the first quarter of this year, exposing the local manufacturing and export sectors to formidable challenges. Along with their efforts, businesses are seeking practical and timely support policies from the Government
Time for debt restructuring
One of the greatest concerns at the moment is the “time bomb” called corporate bonds, which may also affect the credit quality of the banking system. With a considerable volume of corporate bonds falling due in the rest of this year, what should banks do if issuing organizations fail to pay
A fiscal expansion
A solution to economic growth that the Government has doubled down on is to spur public investment, with major infrastructure projects given a focus. Such efforts have yet to pay off. What is the problem? Fiscal expansion In March 2023, the State Bank of Vietnam (SBV), the central bank, twice
A journey of healing
Henrike Doornbos, who has lived in and out of Vietnam, has been battling depression most of her life. After reading about it and seeking help, she overcame her mental problems and began a career as a life coach in Vietnam. She speaks to The Saigon Times about her journey with depression, why
Vietnam's fruit exports to China and Laos increased sharply
Vietnam's fruit are heavily imported into China and Laos.
Northern Vietnam faces the risk of 4900 megawatts of power shortage in this 2023 dry season
According to EVN's calculations, the northern power system faces a shortage risk of 1600 to 4900 megawatts in May and June.
Facing the global minimum tax
The day the global minimum tax takes effect is drawing near. Seminars have been held over the past two weeks, one after another, to discuss this topic. But a final say about whether Vietnam will uphold the tax has yet to be heard, putting FDI businesses under tenterhooks. Some 90 groups feel the
The return of hope
Modest growth reported by securities firms in the first quarter of 2023 came as no surprise given the dismal market conditions and the high base in the year-ago period. A predictable fall Securities firms reported lower revenue and profit in the first three months of the year. Leading companies
Ample room for rice exports
Vietnam’s rice exports rose strongly by nearly 45% in value in the first months of the year, while many enterprises did not have sufficient rice to export, given the increasing global demand for food. On April 26, the Ministry of Industry and Trade held a conference in HCMC to evaluate rice
