vietnam business news

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Vietnam’s electricity sector projected to be bigger than Britain’s by mid-2020s

With a population nudging 100 million and annual GDP growth around 7%, Vietnam has forecast power generation will need to rise from about 47,000 MW currently to 60,000 MW by 2020 and 129,500 MW by 2030.

Philippine rice tariffication law to benefits Vietnam’s exporters

In the first four months this year, the Philippines has leapfrogged China to become Vietnam’s largest rice importer.

Fierce race in Vietnam’s food delivery market: The game really ends?

Newcomers have shaken up Vietnam’s food delivery sector with intensified competition in which only strong contenders can withstand the challenges.

 

Foreign investors race for Vietnam’s smart city solutions providers

As Vietnam’s cities and provinces are stepping up plans to realize the smart city dream, foreign tech giants are rushing with new ambitious business plans to seize the opportunities.

Norway firms to pour more money into Vietnam on condition of fair environment

Many Norwegian companies said they are ready to invest in Vietnam as long as the Vietnamese government ensures a fair and equal investment environment.

Numerous real estate companies owing in taxes and fees

The Hanoi Department of Taxation has just announced that hundreds of real estate companies owe a total of VND1.126 trillion ($48.9 million) in tax, administrative fees, and other land-related sums.

 

Cutting red tape saves Vietnam over US$37 million per year

In 2018, the government targeted to remove at least 50% of administrative procedures, simplify 61% business conditions and reduce 60% of specialized inspection for trade activities.

Vietnam's North - South Expressway PPP projects may kick off construction next year

In case contractors are selected without arising situations, construction of the North-South expressway invested under the public-private partnership (PPP) may start in April 2020, VnEconomy reported.

 

Better foundation for forex stability

The forex “fever” in the first week of May has sparked concerns over its continuity in the upcoming time.

Rising labor costs erode Vietnam’s appeal to foreign investors

As its labor cost is equal and even higher than other countries, Vietnam will have to replace the cheap labor advantage for the skilled workforce advantage in the coming time to raise the competitiveness.

Experts caution against investing in shophouses

Investing in the booming shophouse segment in HCM City could end in losses, if market observers are to be believed.

 

Inventories of Vietnam’s 20 listed property firms hit US$7.4 billion

High inventories were attributable to sluggish construction that was caused by legal loopholes.

Logistics enterprises, schools work to close skills gap

With e-commerce and automation changing the landscape of the logistics sector dramatically, there will be a focus on re-skilling the existing workforce in technology, which will improve the competitiveness of the logistics industry.

 

Vietnam escapes US’s likely currency manipulator blacklist

The US is likely not to include Vietnam in a twice-yearly report of currency manipulators based on new data the country provided the Treasury Department, Bloomberg reported, citing a person familiar with the matter.

VietinBank to issue bonds worth $427.5 million

The State Bank of Viet Nam has approved the plan submitted by the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) to issue bonds worth VND10 trillion (US$427.5 million).

 

Funding capacity, asset quality of banks improves

The financial capacity of Viet Nam’s credit institutions has solidified in recent years, with their charter capital reaching VND578.9 trillion (US$24.85 billion) by the end of the first quarter 2019.

 

State-owned banks to retain dividends for capital hike

Authorities have basically agreed on a State Bank of Viet Nam (SBV) proposal to allow large State-owned commercial banks to retain their dividends or pay them in shares to increase capital.

 

Vietnam seafood exports to CPTPP member countries up 15 percent

Vietnam’s seafood exports to the other 10 members of the CPTPP have increased sharply since the agreement took effect earlier this year, according to the Ministry of Agriculture and Rural Development.

 

Ninh Thuan builds more solar, wind projects

The central province of Ninh Thuan aims to become the renewable-energy centre of the country, with assistance from the central government's preferential policies.

 

Vietnam's wood exports soar to nearly $3.12b

Export turnover of wood and wooden products reached nearly US$3.12 billion in the first four months of the year, a year-on-year increase of 18.3 per cent, according to the General Department of Customs.