Some key interest rates fall further early next week
HCMC – The State Bank of Vietnam, the central bank, announced five separate decisions today, March 31, to further lower some key interest rates, with effect from April 3. This is the second round of rate cuts in March. The SBV said the forthcoming rate reductions were part of the efforts of the
HCMC’s CPI rises 4.5% in Jan-Mar
HCMC – The Consumer Price Index (CPI) in HCMC this month inched up 4.5% on average in the year’s first quarter, according to the city’s Statistics Office. Among the 11 groups of consumer goods and services in the basket of items used to calculate the CPI, two groups registered a decline in prices,
HCMC’s GRDP edges up 0.7% in Q1
HCMC – HCMC’s gross regional domestic product (GRDP) expanded a mere 0.7% in the first quarter of this year, the lowest among five centrally-governed cities, showed official data. In January-March, the industry-construction sector contracted by 3.6%, accounting for a fifth of the city’s GRDP,
Vietjet Air set to launch Quang Ninh-Can Tho service late next month
HCMC – Vietjet Air will launch an air link between Quang Ninh Province and Can Tho City from April 25, reported the local media. The Van Don International Airport in Quang Ninh Province said yesterday, March 30, that Vietjet Air would put the Quang Ninh-Can Tho flight into service from April 25.
Military land to be handed over to Tan Son Nhat airport by end-June
HCMC – Military Region 7 has accepted plans and mutual commitments on administrative procedures, financial support and the handover of all sites to the local authority before June 30 this year. According to the Vietnam News Agency, the Command Headquarters of Military Region 7 and Tan Binh
World’s largest container ship arrives in Ba Ria-Vung Tau
HCMC – OOCL Spain, one of the world’s largest container ships, arrived at Gemalink Port in the southern province of Ba Ria-Vung Tau for cargo handling today, March 30. During its first maiden voyage to connect Asia and Europe lasting 84 days, the ship will make port calls in numerous venues
Foreign ownership at some local banks may rise to 49%
HCMC – The State Bank of Vietnam (SBV) has proposed increasing the foreign ownership cap at some commercial banks from 30% to 49%. The Governor of the SBV, the nation’s central bank, has sought the Government’s approval to amend Decree No. 01/2014/ND-CP on foreign investors’ maximum cap in
Foreign ownership at local banks may rise to 49%
HCMC – The State Bank of Vietnam (SBV) has proposed increasing the foreign ownership cap at some commercial banks from 30% to 49%. The Governor of the SBV, the nation’s central bank, has sought the Government’s approval to amend Decree No. 01/2014/ND-CP on foreign investors’ maximum cap in
Vietnam’s Party leader has phone conversation with U.S. President
HCMC – Party General Secretary Nguyen Phu Trong spoke on the phone with U.S. President Joe Biden yesterday, March 29. The two sides expressed pleasure at having a chance to exchange views on the 10th anniversary of the Vietnam-U.S. comprehensive partnership. They spoke highly of the comprehensive
Dong Nai approves US$3-billion urban area project
HCMC – The government of Dong Nai Province has approved of a 293-hectare urban area project worth more than VND72 trillion (US$3 billion) in Pho Island in Hiep Hoa Commune, Bien Hoa City. Hiep Hoa urban area would have an estimated population of 31,600 residents and cover 293 hectares of land. Of
Vietnam posts over US$4 billion in trade surplus in Q1
HCMC – Vietnam’s export revenue in the first quarter of this year has inched down but the country has enjoyed a trade surplus of US$4.07 billion, according to the General Statistics Office. Between January and March, the country’s import-export value has totaled an estimated US$154.27 billion. Of
Global minimum tax rate to impact FDI firms in Vietnam
HCMC – At least 1,015 foreign direct investment (FDI) enterprises will be affected by the global minimum corporate tax when this policy comes into force early next year. The issue was raised at a talk on the global minimum corporate tax – prospects and challenges in FDI attraction in HCMC held on
