Vietnam gains trade surplus of nearly US$10 billion in Jan-May
HCMC – Vietnam’s export revenue in the first five months of this year inched down, but the country enjoyed a trade surplus of US$9.8 billion, according to the General Statistics Office. The country’s import-export value has totaled an estimated US$262.5 billion in January- May. Of the amount,
Extra VND1.9 trillion approved for Nhon-Hanoi Station metro line
HCMC – The Government has approved adding nearly VND1.92 trillion to the investment cost and rescheduling the completion of the Nhon-Hanoi Station metro line project to 2027. According to the Hanoi People’s Committee portal, the prime minister issued Decision No. 588 approving the revised
India to strengthen ties with Vietnam
HCMC – Madan Mohan Sethi, Indian consul general in HCMC, said India has strived for stronger cooperation with Vietnam as the two countries enjoy a long-lasting partnership based on mutual trust and respect. The two nations have a deeply rooted friendship, as seen during a recent meeting between
Around 88,000 firms exit market in January-May
HCMC – Around 88,000 businesses have pulled out of the market so far this year, official data showed. Vietnam has seen 55,200 companies temporarily suspending their operations between January and May, up 20.3% year-on-year, according to the General Statistics Office’s report on the nation’s
Rice traders incur losses despite export surge
CANTHO – Rice traders reported losses even though their export volume and value last month doubled the figures of the same period last year. Vietnam shipped around 1.1 million tons of rice abroad in April, up 14.4% against March and 98.1% against the same period last year, according to the
Agro-forestry-fishery exports bring US$20.2 billion in Jan-May
HCMC – Vietnam earned around US$20.26 billion from exports of agricultural, forestry and fishery products in the first five months of 2023, down 11.1% year-on-year, according to the Ministry of Agriculture and Rural Development. The country spent US$13.15 billion importing these types of products,
Ample room remains for Vietnam’s rice exports to Africa
HCMC – Given Africa’s need to import around 17.7 million tons of rice from now to the year-end, Vietnamese businesses have ample opportunity to boost rice exports to the African markets for the rest of the year, according to the Asia-Africa Market Department under the Ministry of Industry and
Over 20 banks lower deposit rates
HCMC – Over 20 banks have cut deposit interest rates, with the highest rate now set at 8.5% per year. The rate cuts followed the recent State Bank of Vietnam’s (SBV) interest rate reductions. Deposit interest rates are down by 0.5 percentage point for the tenor of less than six months. Meanwhile,
VND230 trillion mobilized for Covid-19 combat in 2020-2022
HCMC – More than VND230 trillion, or roughly US$10 billion, was mobilized to directly serve the Covid-19 prevention and control effort between 2020 and 2022, according to a report by a National Assembly (NA) supervisory delegation. The National Assembly spent a whole day today discussing
HCMC to improve public administration reform index
HCMC – HCMC authorities have rolled out a plan to improve the city’s public administration reform index (PAR index) and residential and business satisfaction with public services this year. The city People’s Committee has assigned departments, agencies of districts and Thu Duc City to build a plan
Vietnam’s outbound investments down in Jan-May
HCMC – Vietnamese businesses have poured US$316.4 million into their projects overseas in the past five months, down 6.5% against the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment. In the year till now, 47 new projects have received
Struggling to survive
As Vietnam’s apparel producers are grappling with excess inventory and declining orders, local manufacturers are having to move on in the face of financial constraints and weakening global demand. During an interview with The Saigon Times, Truong Van Cam, vice chairman and general secretary of the
