US$1.5-billion venture capital pledged to Vietnam
HCMC – Thirty-nine venture capital funds committed a combined US$1.5 billion to Vietnam in the 2023-2025 period during the Vietnam Venture Summit 2022 in Hanoi yesterday, December 19. The event was held by Vietnam’s Ministry of Planning and Investment and co-organized by the National Innovation
U.S. announces new contract for Bien Hoa airbase dioxin clean-up project
HCMC – The United States Agency for International Development (USAID) has announced a new contract worth some US$29 million to begin the next stage of the dioxin clean-up project at the Bien Hoa Air Base. USAID issued the four-year contract for civil works to Vietnamese firm VINA E&C
Vietnam’s forest product exports hit record this year
HCMC – The export value of Vietnamese forest products is estimated to reach US$16.5 billion in 2022, up 4% over the same period last year, resulting in a trade surplus of around US$13 billion, according to the Ministry of Agriculture and Rural Development. Despite woes being caused by the
Trade remedy cases against Vietnam’s exports rise rapidly
HCMC – Vietnam had recorded 224 cases subject to the trade remedies of other countries in the year to October, according to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade. For the trade remedy cases, 26 were reported from 2005 to 2010 and 52 in 2011-2015, while
Contractors chosen for North-South Expy’s two bidding packages
HCMC – Project Management Unit No. 7 under the Ministry of Transport has chosen two consortiums of contractors for the bidding packages of the Chi Thanh-Van Phong and Van Phong-Nha Trang sections of the second-phase North-South Expressway. The VND4.4-trillion package of the Chi Thanh-Van Phong
Tra fish exports hit all-time high
HCMC – The tra fish export revenue this year is expected to set a new record of US$2.4 billion, soaring by 70% over 2021, according to the Vietnam Directorate of Fisheries under the Ministry of Agriculture and Rural Development. The tra fish farming area in Vietnam is about 5,500 hectares with
Large room for exports to UK remains
HCMC – Made-in-Vietnam products, including Vietnam’s agro-aqua products, have become more popular in the UK market during the last two years, backed by the efforts of Vietnamese exporters and the United Kingdom Vietnam Free Trade Agreement (UKVFTA) with official validity as of May 1, 2021. Under
VND35-trillion bidding package in Long Thanh airport project cancelled
HCMC – The Airports Corporation of Vietnam (ACV) has decided to cancel a VND35.2-trillion bidding package under the Long Thanh International Airport project, citing ineligible bidding documents. Contract package 5.10 involves design, construction and equipment installation in the passenger
What are implications of a weakening dollar?
The U.S. dollar has steadily dropped against the Vietnamese dong currency. This is good news given that the foreign exchange market normally comes under pressure from the huge year-end demand of importers for foreign currency. Are supply and demand equated? The State Bank of Vietnam (SBV), on
Investors have a bargaining chip
Despite strong decreases in mergers and acquisitions (M&A) transaction volume and value in January-October this year, Vietnam’s M&A market remains attractive. But at a time when local businesses are having cash flow problems, M&A investors have the edge in negotiations. Domestic
Nearly 1,000 domestic flights a day planned for Lunar New Year
HCMC – Vietnamese air carriers expect to operate 950-990 domestic flights per day before and during the Lunar New Year holiday to meeting the strong spike in air travels, according to the Civil Aviation Authority of Vietnam (CAAV). The number of daily domestic flights will increase by 250-290,
VITAS works out growth scenarios for textile industry in 2023
HCMC – The Vietnam Textile and Apparel Association (VITAS) has forecast two scenarios for Vietnam’s textile and apparel next year. VITAS said that exports of key industries, including textiles, would plunge in early 2023 due to runaway inflation and expectations of global recession, resulting in a
