Bright outlook amid monetary easing
Monetary policy is gradually shifting from tightening to easing again. Following the two interest rate cuts in late March, the central bank has signaled another rate reduction is coming. Money goes around flexibly Contrary to former concerns, the stock market was undergoing fairly positive
Biting the bullet
Flagging demand has compelled manufacturers to reduce their production and workforce. Shoe manufacturer PouYuen, which makes sneakers for global brands like Nike and Adidas, is reportedly set to cut nearly 6,000 jobs in HCMC. Working amidst worries According to a leader of PouYuen Vietnam Group,
Recovery unabated amid uncertainty
2023 looks to be a challenging year for the global economy, with global growth decelerating owing to monetary tightening and the Russia-Ukraine military conflict continuing to weigh on activity. Persistent inflation pressures, and now financial sector problems in the U.S. and Europe, are injecting
Off to a good start
The National Assembly Standing Committee reached a consensus to send the NA the draft of a resolution on piloting new policies for HCMC’s development at the fifth NA sitting that began on May 22, 2023. Apart from its endorsement of a new resolution as a replacement of Resolution 54 on a special
G-bonds vs access to capital
Apart from the lower capital efficiency due to the amount raised from G-bond issues outpacing the disbursement of public investment capital, which has resulted in the cash balance in the State budget soaring, the excessive capital mobilized from via G-bond sales has also worsened the crowding-out
Three-month e-visa validity officially proposed
HCMC – The Government has proposed that the National Assembly (NA) extend the e-visa validity to 90 days with single or multiple entries to attract more international visitors to Vietnam. The recommendation was part of the Government’s proposals presented to the NA plenary session today, May 27,
Jan-May foreign investment reaches nearly US$11 billion
HCMC – Fresh foreign direct investment (FDI) approvals in the year to May 20 had hit US$10.86 billion, down 7.3% over the same period in 2022, according to the Foreign Investment Agency at the Ministry of Planning and Investment. The newly-registered FDI projects had total pledged capital of
Highways 55, 56 to have traffic surveillance camera systems
HCMC – Ba Ria-Vung Tau Province is set to launch the second phase of a project to install smart traffic surveillance camera systems on national highways 55 and 56 on June 20, according to provincial authorities. The camera systems will monitor the province’s sections of the national highways, the
Businesses fret over worsening hardships by year-end
HCMC – Vietnamese enterprises are facing extreme hardships, according to a report sent to the prime minister by the National Private Economic Development Research Board. Of the 9,556 businesses surveyed, about 82.3% may downsize, suspend operations, or exit the market in the remaining months of
Major banks further lower deposit interest rates
HCMC – Several major banks have slashed their deposit interest rates by 0.5 percentage point compared to those in mid-May, right after the State Bank of Vietnam (SBV) announced two decisions further lowering key interest rates in its easing cycle. Vietcombank has recently revised down its deposit
The Ministry of Industry and Trade approves temporary prices for 19 transitional renewable power projects
The Ministry of Industry and Trade has approved 19 transitional renewable power projects, with prices temporarily calculated at 50% of the ceiling in the price bracket, with a total capacity of 1,347 MW.
Vietnam, New Zealand target US$2 billion in 2024 bilateral trade
HCMC – Vietnam and New Zealand will make efforts to bring two-way trade to US$2 billion by 2024 from last year’s US$1.2 billion, heard a bilateral meeting in Hanoi. The target was raised at the eighth meeting of the Vietnam-New Zealand Joint Trade and Economic Commission (JTEC) held recently in
