business news

Update news business news

Vietnam – a land of opportunities for Nordic firms

Ole Linnet Juul, Senior Chief Advisor of the Confederation of Danish Industry, commended Vietnam’s recent strides, particularly in institutional reforms, technological advancements, innovation, and digital transformation.

Banking sector urged to expand credits to support economic growth

SBV Deputy Governor Dao Minh Tu stated that an average credit growth of over 2% would contribute to a 1% increase in the country's GDP.

State capital ownership rights transferred to Ministry of Finance

The Commission for Management of State Capital at Enterprises (CMSC) on February 28 transfered the rights and responsibilities of the agency representing state capital ownership to the Ministry of Finance.

Vietnam pushes to elevate stock market

Vietnam will create favourable conditions for the stock market to develop more breakthrough and innovative products, enhancing the quality of market offerings and attracting more investors.

Petrovietnam takes actions to carry out Ninh Thuan 2 nuclear power project

With an urgent timeline to put the plant into operation by 2030 or 2031, the project faces significant challenges and requires a shift to a more flexible, accelerated management approach.

Will import tax reductions make luxury cars cheaper in Vietnam?

Starting in 2025, Vietnam will reduce import tariffs on luxury cars from Europe, the US, and Japan. Will this lead to lower prices for high-end vehicles, and how will it impact the local market?

VN to cut business regulations by 30%, aiming for top 3 ASEAN investment climate

Vietnam plans to eliminate 30% of business regulations, reduce costs, and boost economic growth, positioning itself as a top ASEAN investment destination.

Ministry to allow petrol companies to determine prices, reform management

The Ministry of Industry and Trade (MOIT) is currently collecting public opinions on the draft decree on petroleum business management. Nonetheless, there are still arguments related to policy proposals.

State-owned enterprises seek greater autonomy to drive economic growth

Vietnam’s state-owned enterprises propose increased decision-making power and regulatory reforms to enhance efficiency, accelerate investment, and achieve the government’s 8% GDP growth target by 2025.

Banks propose special lending mechanism for major national projects in Vietnam

Leading banks in Vietnam, including Vietcombank, Agribank, and BIDV, propose a special lending mechanism to accelerate loan approvals for large-scale national projects, boost investment, and enhance economic growth.

Vietnam pushes for SOE-led economic acceleration with higher growth targets

PM Pham Minh Chinh has called on state-owned enterprises to drive Vietnam’s economic expansion, urging them to embrace innovation, enhance efficiency, and contribute to sustainable national development.

Vietnamese banks address deposit rate hikes following government directive

Vietnam’s commercial banks respond to the government’s call to stabilize deposit interest rates and lower lending rates, ensuring economic growth and inflation control.

Breaking barriers to lure private investment for energy growth

The Politburo established a framework for private participation with the issuance of Resolution 55-NQ/TW on February 2020, outlining Vietnam’s energy development strategy until 2030 with a vision to 2045.

UK to export more products to Vietnam

The UK’s exports of goods to Vietnam grew by 9.9 per cent last year, and the country is aiming to maintain this momentum in 2025.

MoIT advises local businesses to study new trade defence regulations in US

To protect the interests of Vietnamese export businesses, authorities have advised associations and exporters to thoroughly study the updated US trade defence regulations before exporting goods there.

Lobster and shrimp exports to China, EU see positive growth last month

Lobster exports accounted for nearly half of Vietnam’s total seafood export turnover to China in January.

VN mulls merging laws, streamlining export mechanisms

Export markets, such as South Korea and Japan, have their own regulations and do not ask for the conformity certification mandated by the Vietnamese government, leaving local businesses with extra costs and time wasted on paperwork.

Vietnam’s international textile fair features over 500 booths

The Vietnam International Trade Fair for Apparel, Textiles and Textile Technologies (VIATT) opened at the Saigon Exhibition and Convention Centre (SECC) in Ho Chi Minh City on February 26.

Vietjet launches first direct flight connecting Vietnam and New Zealand

A Vietjet representative emphasised that the route will not only enhance travel convenience but also promote investment and cultural exchange while integrating New Zealand into Vietjet’s expansive flight network across Asia and beyond.

VinFast, VASEP partner for green transition

VASEP and its member enterprises will prioritise using VinFast electric vehicles for transportation and logistics, while VinFast will offer incentives for VASEP’s staff and member businesses to switch from gasoline to electric vehicles.