Vietnam PM to attend ASEAN Summit in Indonesia
HCMC – Prime Minister Pham Minh Chinh will lead a high-ranking delegation of Vietnam to attend the 42nd ASEAN Summit in Labuan Bajo, Indonesia, from May 9 to 11. PM Chinh will attend the event at the invitation of the Indonesian President and Chairman of the 42nd ASEAN Summit, Joko Widodo,
Two industrial parks in HCMC added to development planning
HCMC – Deputy Prime Minister Le Minh Khai has approved including two industrial parks in HCMC in the development planning of Vietnam’s industrial parks (IPs). The deputy PM signed Dispatch No. 364 approving the Ministry of Planning and Investment’s proposal for revising the development planning of
SBV buys nearly US$4.9 billion in Jan-Apr
HCMC – The State Bank of Vietnam, or SBV, bought nearly US$4.9 billion in the first four months of this year, thus shoring up the country’s foreign exchange reserves, according to the Ministry of Planning and Investment. As the exchange rate between the U.S. dollar and the Vietnamese dong remained
Rice exports in Jan-April grow strongly
HCMC – Vietnam exported around 2.95 million tons of rice worth nearly US$1.56 billion in the first four months of this year, up 43.6% in volume and 54.5 % in value year-on-year, according to the Ministry of Agriculture and Rural Development. This is the highest growth rate among the key
Navigating monetary policy amid stronger economic headwinds
HCMC – The recent collapse of the First Republic Bank in the U.S. has rattled the financial market. Most of the lender’s assets are being acquired by JPMorgan Chase & Co, which include US$173 billion in loans, US$30 billion in securities and US$92 billion in deposits, international media
Ministry of Finance proposes lowering 35 fees and charges
HCMC – The Ministry of Finance has proposed reducing 35 types of fees and charges from July 1 to December 31 this year to help businesses and households cope with rising costs of production and living. The Ministry of Finance has sent an official dispatch to ministries, ministerial-level agencies
Exports of agro-forestry-fishery products plunge over 13% in Jan-Apr
HCMC – Vietnam’s agro-forestry-fishery product exports reached US$15.66 billion in the first fourth months of the year, down 13.3% over the year-ago period. According to the Ministry of Agriculture and Rural Development, the country’s exports of agro-forestry-fishery products were estimated at
Local fuel prices decline further
HCMC – Domestic fuel retail prices dropped by over VND1,000 per liter today, May 4, according to an announcement jointly issued by the ministries of Industry-Trade and Finance. RON 95-III gasoline now sells for VND22,320 per liter, down by VND1,310, while E5 RON 92 bio-gasoline costs VND21,430 per
Electricity prices inch up by 3% from today
HCMC – Electricity prices in Vietnam increased by 3% to over VND1,920 per kWh from today, May 4, after they had been kept unchanged for four years. According to a decision recently signed by the CEO of the Vietnam Electricity Group (EVN), the average selling price of electricity will increase from
Vietnam to import electricity from Laos from mid-May
HCMC – The Bo Y 220kV switching substation in the Central Highlands province of Kon Tum will receive electricity from the Nam Kong 2 and 3 hydropower plants of Laos by May 15 this year to integrate it with the Vietnamese electricity grid. Power Project Management Board 2, or PMB2, coordinated with
Green economy attracts huge investments
HCMC – Domestic and foreign-invested companies have poured US$9 billion into Vietnam’s green economy, making up almost 2% of the country’s gross domestic product, according to the Ministry of Planning and Investment. Green economy investments have expanded by 10-13% year-on-year since 2021, said
Government approves VAT cut proposal
HCMC – The Government has approved a Ministry of Finance proposal for lowering the value added tax (VAT) from 10% to 8% to support businesses and households to cope with economic headwinds. Deputy Prime Minister Le Minh Khai has signed a Government resolution endorsing a request for drafting a
