Deposit rates fall further
HCMC – Following the central bank’s interest rate cuts in April, commercial banks have lowered deposit rates further this month. Annual deposit rates now range from 7% to 9% at most banks, 1-1.7 percentage points lower than late last year. Kienlongbank now applies a 7% yearly rate to nine-month
Vietnam PM to attend expanded G7 Summit in Japan
HCMC – Prime Minister Pham Minh Chinh will attend the expanded G7 Summit this weekend, from May 19 to 21, at the invitation of his Japanese counterpart Fumio Kishida. Vietnam is one of the two Southeast Asian countries invited to the summit this year, along with Indonesia. This is the third time
Apple's top partner invests in a $100 million project in Nghe An, Vietnam
The Management Board of Southeast Economic Zone has just granted an investment registration certificate to investor Foxconn Interconnect Technology PTE.LTD (Foxconn Group) to implement the project of Fu Wing Interconnect Technology Co., Ltd. (Nghe An).
Longer e-visa validity will boost tourism: Govt
HCMC – The Government said that the proposal for extending the e-visa validity to 90 days would help attract foreign tourists and investors who want to explore investment opportunities in Vietnam. On behalf of the Government, General To Lam, Minister of Public Security, has submitted a report to
Tourism Dept proposes City Hall be periodically opened to visitors
HCMC – The HCMC Department of Tourism has proposed that the City Hall be opened to tourists on public holidays in the upcoming time. The department gave three options for tours of the City Hall building. Under option 1, from now until the year-end, the City Hall will be opened to tourists on July
National power development plan VIII approved
HCMC – The prime minister issued a decision approving the national power development plan VIII yesterday, May 15, with a strong emphasis on renewable energy, according to the Ministry of Industry and Trade. The power development plan VIII for the period 2021-2030, with a vision to 2050, is set to
April auto sales plunge sharply
HCMC – Auto sales have fallen substantially this year, with 22,409 units sold in April, down 40% over March and 47% year-on-year, according to the Vietnam Automobile Manufacturers Association (VAMA). Sales of commercial vehicles in April dropped by 19% versus the previous month, passenger cars
HCMC disburses VND8,200 billion in public investment capital
HCMC – HCMC had disbursed VND8,236 billion in public investment capital in the year to May 12, representing 20% of the full-year target set by the city government. In the first four months of the year, the city’s total disbursements were VND2,511 billion, accounting for 6% of the city’s 2023 plan
Hanoi wants to have two international airports
HCMC – Hanoi City is seeking approval from the central Government for a plan to develop one more international airport for the capital city area besides the operational Noi Bai International Airport. Hanoi City has sent an official dispatch to the prime minister and the Ministry of Transport
Ministry calls for adequate power supply amid heat
HCMC – The Ministry of Industry and Trade has worked with the Vietnam Electricity Group (EVN) and relevant agencies to discuss urgent measures for preventing power supply interruptions amid hot weather, drought, water shortage and salinization. The unpredictable El Nino phenomenon, heat waves and
Weak demand drives down shrimp prices
HCMC – Shrimp farmers in the Mekong Delta are facing losses as shrimp prices have plunged by 30% within a month. A survey showed prawns are sold at around VND70,000-80,000 per kg of around 100 pieces, slumping by 30% against the previous month. The prices of shrimp that weigh one kilogram of 30-40
Work on Khanh Hoa-Buon Ma Thuot expy to start next month
HCMC – The first phase of the Khanh Hoa-Buon Ma Thuot expressway project is set to get off the ground next month, according to the project owner. Khanh Hoa Province’s traffic infrastructure project management board said on May 13 that the province will start work on the first component of the
