Vietnam plans to upgrade status of stock market
HCMC – Vietnam looks to upgrade the status of its stock market from frontier to emerging before 2025, the Ministry of Finance said. The ministry is seeking the prime minister’s approval for a draft strategy for stock market development until 2030. According to the draft, the stock market
Vietnam expects 2022 coffee export at US$4 billion
HCMC – Vietnam’s coffee exports may rise to a record high of US$4 billion this year amid a global undersupply and the upcoming harvest season. Coffee exports in the year to September had soared 37.6% over the same period last year, at US$3.1 billion, the Ministry of Agriculture and Rural
Danang Int’l Fireworks Festival 2023 set for next June
HCMC – The Danang International Fireworks Festival 2023 (DIFF 2023) is set to take place from June 3 to July 8 next year by the Han River in the central city of Danang, after a two-year pause due to the Covid pandemic. The People’s Committee of Danang said yesterday, November 2, that it had mapped
Railway companies report profits after two years of losses
HCMC – Hanoi and Saigon railway companies, the two subsidiaries of the Vietnam Railway Corporation (VNR), reported their respective after-tax profits of almost VND35.2 billion and over VND38.3 billion in January-September. Hanoi Railway in its financial report said its revenue from January to
Vietnam’s economy rebounds strongly
HCMC – Vietnam’s economy has seen strong recovery this year, according to data from the General Statistics Office of Vietnam. The vibrant post-pandemic economic growth of Vietnam has been facilitated by controlled inflation and macroeconomic stability. Between January and October, foreign trade
Central bank says real estate loans restricted to ensure safety for banks
HCMC – Vietnam’s central bank governor has said real estate loans are being restricted to protect commercial banks and control inflation. Speaking at a Q&A session of the National Assembly today, November 3, Nguyen Thi Hong, governor of the State Bank of Vietnam (SBV), said that at a time when
US$1.3-billion LEGO plant gets off ground in Binh Duong
HCMC – Danish company LEGO today, November 3, broke ground on a US$1.3-billion plant in the southern province of Binh Duong. The environmentally friendly facility, covering 44 hectares of land at the Vietnam-Singapore Industrial Park, will be LEGO’s sixth plant in the world and its second in Asia,
Danish jewelry producer joins hands with FPT Software to build factory
HANOI – FPT Software, a unit of FPT Corporation, has announced its partnership with Julie Sandlau, one of the world’s leading jewelry producers, to build a smart jewelry manufacturing facility in Vietnam. The plant will be developed at the Hoa Lac hi-tech park in Hanoi City and be completed by the
PMI growth at 13-month low
HCMC – Although business conditions in the Vietnamese manufacturing sector continued to improve at the beginning of the fourth quarter, the Vietnam Manufacturing Purchasing Managers’ Index (PMI) grew the slightest in 13 months. The S&P Global Vietnam manufacturing PMI registered 50.6 in
Banks report handsome profits in Q3
HCMC – Many local banks have released their business results, which indicate huge third-quarter profits. Asia Commercial Bank (ACB) recorded a pretax profit of nearly VND4.5 trillion between July and September, surging by 71% year-on-year. VPBank put its pretax profit at over VND4.5 trillion in
HCMC’s Jan-Oct budget revenue beats estimate
HCMC – HCMC’s budget revenue totaled nearly VND393 trillion between January and October, exceeding the year’s estimate by 1.6% and rising 22.33% year-on-year, according to the HCMC Department of Finance. Of the total, domestic sources accounted for VND254 trillion, meeting 97.88% of the full-year
EU’s yellow card continues affecting Vietnam’s seafood exports
CAN THO – Seafood exports to the EU had reached US$1 billion in the year to September, but fish catch contributed only a minor part of the amount as a result of the European Commission’s (EC) yellow card. Data from the General Department of Vietnam Customs showed Vietnam earned some US$3.4 billion
