Vietnam’s economy rebounds strongly
HCMC – Vietnam’s economy has seen strong recovery this year, according to data from the General Statistics Office of Vietnam. The vibrant post-pandemic economic growth of Vietnam has been facilitated by controlled inflation and macroeconomic stability. Between January and October, foreign trade
Central bank says real estate loans restricted to ensure safety for banks
HCMC – Vietnam’s central bank governor has said real estate loans are being restricted to protect commercial banks and control inflation. Speaking at a Q&A session of the National Assembly today, November 3, Nguyen Thi Hong, governor of the State Bank of Vietnam (SBV), said that at a time when
US$1.3-billion LEGO plant gets off ground in Binh Duong
HCMC – Danish company LEGO today, November 3, broke ground on a US$1.3-billion plant in the southern province of Binh Duong. The environmentally friendly facility, covering 44 hectares of land at the Vietnam-Singapore Industrial Park, will be LEGO’s sixth plant in the world and its second in Asia,
Danish jewelry producer joins hands with FPT Software to build factory
HANOI – FPT Software, a unit of FPT Corporation, has announced its partnership with Julie Sandlau, one of the world’s leading jewelry producers, to build a smart jewelry manufacturing facility in Vietnam. The plant will be developed at the Hoa Lac hi-tech park in Hanoi City and be completed by the
PMI growth at 13-month low
HCMC – Although business conditions in the Vietnamese manufacturing sector continued to improve at the beginning of the fourth quarter, the Vietnam Manufacturing Purchasing Managers’ Index (PMI) grew the slightest in 13 months. The S&P Global Vietnam manufacturing PMI registered 50.6 in
Banks report handsome profits in Q3
HCMC – Many local banks have released their business results, which indicate huge third-quarter profits. Asia Commercial Bank (ACB) recorded a pretax profit of nearly VND4.5 trillion between July and September, surging by 71% year-on-year. VPBank put its pretax profit at over VND4.5 trillion in
HCMC’s Jan-Oct budget revenue beats estimate
HCMC – HCMC’s budget revenue totaled nearly VND393 trillion between January and October, exceeding the year’s estimate by 1.6% and rising 22.33% year-on-year, according to the HCMC Department of Finance. Of the total, domestic sources accounted for VND254 trillion, meeting 97.88% of the full-year
EU’s yellow card continues affecting Vietnam’s seafood exports
CAN THO – Seafood exports to the EU had reached US$1 billion in the year to September, but fish catch contributed only a minor part of the amount as a result of the European Commission’s (EC) yellow card. Data from the General Department of Vietnam Customs showed Vietnam earned some US$3.4 billion
Vietnam’s unemployment rate reported at 2.3%
HCMC – Some 68.7% of 51.9 million people of working age are employed, not counting those in the informal sector, while the unemployment rate stays low at 2.3%, according to the Ministry of Labor, War Invalids and Social Affairs. Dao Ngoc Dung, Minister of Labor, War Invalids, and Social Affairs,
Storms and floods leave heavy socioeconomic impact on Danang
DANANG – Storms and floods in October adversely affected Danang’s socioeconomic conditions, the Danang Statistical Office reported. October witnessed unprecedented torrential rains, flooding many streets and residential areas in the city, damaging properties and causing price spikes in some
Local fuel prices rise further
HCMC – Domestic fuel retail prices were revised up VND120-410 per liter or kilogram today, November 1, according to an announcement jointly issued by the ministries of Industry-Trade and Finance. This is the third upward fuel price adjustment since mid-October. RON 95-III gasoline now sells for
Deputy health minister Nguyen Truong Son steps down
HCMC – Deputy Minister of Health Nguyen Truong Son resigned from his post due to personal reasons from today, November 1. Son was born in 1964, so he can still work until 2025 before his retirement under the prevailing regulations, but he tendered his resignation in mid-2022, citing his