Interest rates outlook
Interest rates rose sharply in the fourth quarter of 2022, leading the State Bank of Vietnam to intervene with aggressive measures. They edged down in the final days of last year. The interest rate trajectory in 2023 remains unpredictable, though. An upward spiral? The State Bank of Vietnam (SBV),
Vo Thi Anh Xuan serves as acting State President
HCMC – Vice State President Vo Thi Anh Xuan now serves as acting State President after the 15th National Assembly (NA), at its third extraordinary session in Hanoi this afternoon (January 18), discharged Nguyen Xuan Phuc from the post of State President of Vietnam. Late this afternoon NA Chairman
National Assembly discharges Nguyen Xuan Phuc from Presidential position
HCMC – The 15th National Assembly (NA), at its third extraordinary session in Hanoi this afternoon (January 18), agreed to discharge Nguyen Xuan Phuc from the post of State President of Vietnam, reported the local media. Just four days before the start of the Lunar New Year holiday, Tet, the NA
Vimedimex chairwoman prosecuted over land auction irregularities
HCMC – Nguyen Thi Loan, board chairwoman of Vimedimex Medi-Pharma JSC, has been prosecuted on January 17 for illegally lowering the value of a 50,000-square-meter land plot in the land auction, according to the local media. The Hanoi People’s Procuracy pressed charges against Loan over her alleged
Vietnam, S.Korea look to achieve US$100 billion in bilateral trade this year
HCMC – Vietnam and South Korea strive to increase bilateral trade to US$100 billion in 2023 and US$150 billion in 2030. Prime Minister Pham Minh Chinh had a meeting with the South Korean National Assembly’s Chairman Kim Jin Pyo during his official visit to Vietnam at the Government Office
Govt approves changes to Dong Dang – Tra Linh expressway project
HCMC – The Government has approved major changes to the Dong Dang – Tra Linh expressway project including scope of investment, capital structure and duration of project. Under the revised plan, the Dong Dang – Tra Linh expressway will span 121.06 kilometers instead of 115 kilometers as previously
National Assembly holds extraordinary session Wed afternoon
HCMC – The 15th National Assembly (NA), the nation’s legislature, has announced it will hold an extraordinary session on Wednesday, January 18, to decide a key personnel matter. Based on the Constitution, the law on organization of the NA and the NA session organizing rules, the NA Standing
President Nguyen Xuan Phuc is no longer member of Politburo and Party Central Committee
HCMC – The 13th Party Central Committee (PCC) today agreed to let State President Nguyen Xuan Phuc quit as member of the Politburo and of the PCC, the Vietnam News Agency reported. The PCC called a meeting in Hanoi today to consider a formal request by the President to retire and pull out of all
Vietnam Airlines adds flights to meet huge Tet travel demand
HCMC – Vietnam Airlines (VNA) has announced to add 108 more flights with nearly 20,000 seats to satisfy the huge air travel demand during the Lunar New Year holiday (Tet). The national flag carrier will operate these flights on the routes linking HCMC with Hanoi, Vinh, Thanh Hoa, Haiphong, Danang
Haiphong navigational fairway to be upgraded
HCMC – The Ministry of Transport has given Gemadept the green light to study the upgrade of the Haiphong navigational fairway, reported by the local media. In an official dispatch to Haiphong City, the Vietnam Maritime Administration and Gemadept, the Transport Ministry gave in-principle approval
Land fee reduction extension proposed for 2023
HCMC – The Ministry of Finance has proposed extending the 30% land use fee reduction for businesses, households and individuals this year to further facilitate the country’s economic recovery. In its draft decree on land use fee reduction, the ministry said economic woes caused by a tight monetary
Nghi Son oil refinery back to normal as technical issues settled
HCMC – The Nghi Son oil refinery in the north-central province of Thanh Hoa addressed its technical issues a day earlier than expected and resumed operations at full capacity from yesterday afternoon, January 15. The oil refinery ramped up efforts to fix the leakage of its residual fluid catalytic
