HCMC’s foreign trade exceeds US$100 billion in Jan-Nov
HCMC – HCMC’s foreign trade in the year to November had totaled US$101.6 billion, according to the General Department of Vietnam Customs. The gross regional domestic product of HCMC is expected to grow 9.03% over 2021, way above the target ranging between 6% to 6.5%. The city’s trade performance
Vietnam’s auto imports shoot up in November
HCMC – The number of cars imported into Vietnam last month soared sharply, driven by the strong domestic demand. Data from the General Department of Vietnam Customs showed the country imported over 22,700 completely-built-up (CBU) cars worth US$468 million in November, surging by 58.8% in volume
Fuel prices drop to two-year lows
HCMC – Domestic fuel prices were today revised down by VND937-1,661 per liter or kilogram. The reductions sent fuel prices plunging to two-year lows. In an announcement jointly made by the ministries of Industry-Trade and Finance, RON 95-III gasoline now sells for VND21,200 per liter, down
Heineken to invest US$500 million in Vietnam in next 10 years
HCMC – Heineken has invested US$1 billion in Vietnam and will continue to pour US$500 million into Vietnam in the next 10 years, said Heineken CEO Dolf van den Brink. On December 11, Vietnamese Prime Minister Pham Minh Chinh met Brink at the company headquarters in Amsterdam, Netherlands. Chinh
Global market headwinds seen hitting Vietnam’s trade
HCMC – With foreign trade forecast to reach more than US$700 billion this year, the Ministry of Industry and Trade has predicted a bleak outlook for Vietnam’s imports and exports next year. Data from Vietnam Customs showed that in November, Vietnam gained US$29 billion from exports and spent
PM proposes Netherlands help Hanoi with hi-tech center development
HCMC – Prime Minister Pham Minh Chinh has proposed the Netherlands help Vietnam develop a Brainport hi-tech center in Hanoi City. He was speaking during his visit to the Brainport Industries Campus in Eindhoven City in North Brabant on December 11, as part of his official visit to the Netherlands
Corporate restructuring gets underway
In the context of disrupted cash flows and restricted access to capital, the corporate circle is rolling up its sleeves to drastically restructure its operations and financial situation to eliminate hardships, step by step Reinforcing financial resources With a record-high order matching volume of
Crowned the World’s Best Rice, and then what?
Cambodia’s Phka Rumduol jasmine variety has been crowned the World’s Best Rice at The Rice Trader’s World Rice Conference in Phuket, Thailand, on November 17. This significant achievement gave Vietnam and Thailand, two large rice exporting countries, pause for thought as Cambodia successfully
Consumption seen weak in year-end season
What should import-export companies be alert to from now until the end of the first quarter of 2023? Should they be chasing the commodities price, in the hope of increasing profits, or be cautious with potential risks? Monetary policies and interest rate hikes in developing countries have brought
Banking system in a liquidity crunch
A liquidity squeeze is choking Vietnam’s economy and banking system, making interest rate swings unavoidable Interest rate hikes return After a short period of interest rates easing, bank deposits took off again last week. Competition for savers in the banking system has intensified during the
Vietnam records strong export growth
HCMC – The country’s export revenue had amounted to US$700 billion in the year to mid-December, surpassing 2021’s record high of US$668.5 billion, according to the Ministry of Industry and Trade. Between January and November, Vietnam’s foreign trade reached around US$674 billion, with a trade
HCMC sets 2023 budget collection of VND470,000 billion
HCMC – HCMC plans to obtain revenue of VND470,000 billion in 2023, up 21% from this year, according to a resolution on the state budget collection estimate and HCMC’s expenditure next year. In the eighth session of the 10th-tenure HCMC People’s Council, HCMC is set to collect VND1,287 billion
