HCMC vehicle registration centers get clogged
HCMC – Roughly half of the registration facilities in HCMC have stopped working recently, causing long queues of vehicles to rush to complete their periodic safety inspection and registration. As of December 27, nine out of 19 vehicle registration centers in HCMC had temporarily ceased operations,
HCMC’s full-year budget revenue soars
HCMC – HCMC’s budget revenue this year totaled nearly VND472 trillion, up 22% against the target and 23.6% year-on-year, heard a conference on the city’s 2022 budget collection and spending on December 28. The budget revenue from domestic production and business activities reached over VND330
FDI in Vietnam totals US$27.7 billion in 2022
HCMC – International investors had pledged around US$27.7 billion in new capital in Vietnam in the year to December 12, or 89% of the total reported in 2021, according to the Foreign Investment Agency under the Ministry of Planning and Investment. Of the total, newly-registered capital saw a
Top 10 economic events of 2022
HCMC – Here’s a look back at 10 key economic events in Vietnam in 2022 selected by Kinh Te Saigon Online, a publication of the Saigon Times Group. Real estate market with bad records in 2022 The real estate market was known for its bad records in 2022, including inventory at a record high,
FDI firms continue to hold lion’s share of Vietnam’s exports
HCMC – Though Vietnam has seen optimistic import-export results this year, its export sector still depends heavily on foreign direct investment (FDI) companies, accounting for nearly three-quarters of the country’s export revenue. The import and export value this year has exceeded US$700 billion
Tuna fish export revenue hits US$1b for first time
HCMC – Tuna fish export revenue had reached US$1 billion in the year to December 21, expectedly further rising to US$1.03 billion by the year’s end, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Among the tuna export items in the first 11 months this year, frozen
Large amount of sugar imported in 2021-2022 crop
HCMC – Vietnam imported a large proportion of sugar in the 2021-2022 crop to meet the domestic demand despite an 8.3% year-on-year increase in sugar output to 750,000 tons. There was a massive shortage of sugar though the country had many sources of sugar supply, such as local production, tariff
Vietnam’s outbound investment reaches US$534 million in 2022
HCMC – Vietnamese businesses poured nearly US$534 million into their projects abroad in 2022, a sharp increase over last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment. Some 109 new projects received certificates for overseas investment with total
Gov’t to add over VND900b to Hanoi’s metro line project
HCMC – The Government has decided to add over VND900 billion to the Cat Linh-Ha Dong metro line project in Hanoi. Deputy Prime Minister Le Minh Khai signed a decision amending the medium-term public investment plan using the central budget in the 2021-2025 period. According to the decision, an
Vietnam sees higher agro trade surplus
HCMC – The agricultural sector’s trade surplus in 2022 is estimated to reach US$8.5 billion, improving 30% against the year-ago figure, according to statistics of the Ministry of Agriculture and Rural Development. Vietnam saw a 9.3% year-on-year increase in agricultural exports in 2022, at over
HCMC bans trailer trucks from entering inner-city streets
HCMC – Trailer trucks will be banned from entering Nguyen Dinh Chieu and Vo Van Tan streets in downtown HCMC starting from December 31 to ease traffic jams and accidents, according to the HCMC Department of Transport. Under the municipal department’s decision, trailer trucks are banned from
First construction packages signed for North-South Expy’s phase two
HCMC – The Project Management Board No.6 under the Ministry of Transport held a contract signing ceremony for three construction packages of the Vung Ang-Bung and Bung-Van Ninh sections on phase two of the North-South Expressway project. They comprise a VND5.4-trillion package for the Vung