Govt wants deposit insurance firm to expand capacity
HCMC – Deputy Prime Minister Le Minh Khai has approved a plan to develop the capacity of the Deposit Insurance of Vietnam by allowing it to raise chartered capital to VND10 trillion by 2025 and VND15 trillion by 2030. According to the plan, the Government aims to expand the insurance coverage for
Employment slumps in the last quarter of 2022
HCMC – Vietnam’s job market has seen a sharp decrease in demand in the last quarter of 2022, with workers finding it challenging to seek new jobs, according to a report released by Navigos Research, a recruitment firm. The report pointed out that employment demand in the period dropped 25% on
Fuel prices rise again after four cuts
HCMC – After dropping four times in a row, fuel prices saw an uptick yesterday, January 1. RON 95-III now sells for VND21,800 per liter, up VND1,100 against the earlier session, and E5 RON 92 is priced at VND21,020, increasing nearly VND1,050. Diesel oil rose by VND550 to VND22,150 per liter,
New Year’s Day marked by groundbreaking of 12 major expressway components
HCMC – Vietnam celebrated New Year’s Day by simultaneously launching work on 12 components of the second phase of the big-ticket North-South expressway project. The groundbreaking ceremonies for these components were held in different locations in the country, with Prime Minister Pham Minh Chinh
Vietnam’s exports at a glance
The export sector will continue to drive Vietnamese economic growth as long as local businesses keep abreast of market swings. Faced with formidable challenges in the current downturns, it is more important than ever to look back. Opportunities are here to stay A recent poll conducted by the
A flexible forex policy
The dollar-dong exchange rate has regained stability after the U.S. Federal Reserve slowed its interest rate hikes. This has allowed the State Bank of Vietnam (SBV) to restart buying foreign currencies. What signals has the SBV sent? The SBV, on December 15, announced it would buy the U.S. dollar
Real interest rate too high
Lately, knock-on effects from the monetary tightening policy designed to fight inflation and maintain the forex rate, coupled with negative impacts from the corporate bond crisis (and the response to that crisis as well) have led to liquidity constraints, prompting banks to hike interest rates
Taking issue with interest rates
With banks joining an interest rate hiking race that may lead to economic uncertainties, it is high time to take measures to stabilize this vital macroeconomic issue. A non-beneficial race After the State Bank of Vietnam (SBV) lowered its policy rates twice in September and October, while the
Over 200,000 firms join local market in 2022
HCMC – Vietnam saw 208,000 businesses being established and resuming operations in 2022, up 30% year-on-year, according to a report from the General Statistics Office (GSO). On average, there were 17,400 new market entrants a month this year. However, the report revealed that 143,000 enterprises
HCMC closes 10 streets for New Year celebrations tonight
HCMC – Vehicles are not allowed to enter 10 streets in downtown HCMC this evening, December 31, due to the city’s New Year’s Eve celebrations, said the HCMC Department of Transport. The city will hold two 15-minute fireworks shows starting from midnight at two locations: the Saigon River Tunnel
VAT, fuel tax cuts proposed for extension
HCMC – Business associations have written to the Government and the Ministry of Finance proposing extending the VAT cut of two percentage points and the environmental protection tax cut for fuel till the end of 2023. From January 1, 2023, many supporting policies for households and businesses will
Vietnam’s seaports handle 733 million tons of cargo in 2022
HCMC – Cargo throughput of Vietnam’s seaports in 2022 has amounted to 733.18 million tons, a 4% increase against 2021, said Hoang Hong Giang, deputy head of the Vietnam Maritime Administration. Exports have reached 179.07 million tons, down 3%, and imports have totaled 209.26 million tons, a 2%
