SBV to inspect share transfers among credit institutions
HCMC – The State Bank of Vietnam (SBV), the central bank, will focus on inspecting share transfers among credit institutions this year to prevent cross ownership in the banking sector. The above content, which has been approved by SBV Governor Nguyen Thi Hong, will be submitted to the National
AstraZeneca provides US$50 million for reforestation in Vietnam
HCMC – Global drug firm AstraZeneca has agreed to provide Vietnam with US$50 million, or some VND1.2 trillion, to aid the nation in reforestation and to address climate change. This is part of the British-Swedish pharmaceutical and biotechnology company’s AZ Forest, a global initiative to plant
Vietnam’s Ri6 durians exported to UK
HCMC – The first batch of Vietnamese Ri6 durians exported to the United Kingdom (UK) is now available on the shelves of supermarkets there. The five-ton shipment of Ri6 durians arrived the UK at zero duty thanks to the UK-Vietnam Free Trade Agreement, the Vietnam Trade Office in the UK said in a
Nhon-Hanoi Station metro line faces cost overruns
HCMC – Hanoi City has proposed increasing the cost of the Nhon-Hanoi Station urban rail line by VND1.9 trillion and extending the deadline for the completion of the project until 2027. The higher-than-expected cost is ascribable to foreign exchange rate volatility, adjustments to the workload, and
State budget revenue drops in Jan-April
HCMC – State budget revenue in the first four months of 2023 totaled VND645.4 trillion, down 5% year-on-year and reaching 40% of the year’s estimate, according to the Ministry of Finance. Revenue from domestic sources dropped to around 89% of the previous year’s figure. Budget revenue from value
Tan Son Nhat airport installs passport scanning system
HCMC – A passport scanning system has been installed at the international terminal of the Tan Son Nhat International Airport and will be deployed soon to cope with increasing passenger traffic, according to a customs officer. Passengers holding chip-based passports can scan their passports and be
Renewable energy projects complain about regulatory bottlenecks
HCMC – Renewable energy companies in the country have recently proposed the Government remove regulatory bottlenecks faced by their solar and wind power projects, reported the local media. Around 23 solar and wind power project developers – including VPL Energy Joint Stock Company, Tien Giang Wind
Heat sends electricity consumption soaring to record highs in HCMC
HCMC – Hot weather has sent electricity consumption in HCMC soaring to record highs in recent weeks as the demand for air conditioning and electric fans has skyrocketed. The city used 94.4 million kWh of power on May 5, the highest daily electricity consumption level ever, according to the HCMC
Turn cultural values into tangible products
Cultural tourism is emerging as one of the most important sectors in Vietnam this year. The Ministry of Culture, Sports, and Tourism has predicted that the tourism sector would be able to generate around US$130 billion in revenue by 2030, with cultural tourism accounting for 20-25%. With the
In rough seas
Vietnam’s woodworking industry has performed poorly in the year to date. Its anxiety among local exporters and manufacturers has increased further as the market outlook remains as uncertain as ever. Restructuring production, cutting costs and finding niche markets are among measures for staying
Getting back on track
HCMC’s exports plunged to a 22-year low due to a nearly 17% year-on-year drop in the first quarter of this year, exposing the local manufacturing and export sectors to formidable challenges. Along with their efforts, businesses are seeking practical and timely support policies from the Government
Time for debt restructuring
One of the greatest concerns at the moment is the “time bomb” called corporate bonds, which may also affect the credit quality of the banking system. With a considerable volume of corporate bonds falling due in the rest of this year, what should banks do if issuing organizations fail to pay
