vietnam business news

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Payments by ewallets, ATM cards remain low in Vietnam

Online shoppers still prefer using cash on delivery (COD) instead of ewallets, credit cards or ATM cards to pay for their purchases.

 

StanChart projects Vietnam’s GDP growth at 6.9% until 2021

Vietnam is believed to be an ASEAN outperformer this year, with GDP growth projected at 6.9%.

Rising automobile imports put domestic sector at risk: expert

Some experts and government units have voiced concern over the future growth prospects of the local automobile sector due to the upsurge in car imports from foreign markets in recent months.

 

Bamboo Airways to go IPO next year

Bamboo Airways, a subsidiary of real estate developer FLC Group, is planning to issue an initial public offering (IPO) in 2020 to serve its expansion plans.

 

Huge challenges awaiting Vietnam's digital banking

Rising number of Internet users and mobile phone subscribers is smoothing the way for digital banking in Vietnam to thrive, but huge challenges keep lying ahead, according to insiders.

 

Vietnam's inflation around 3.3 – 3.5 percent this year: Deputy PM

Deputy Prime Minister Vuong Dinh Hue said at a conference yesterday that if there are no unexpected factors, this year’s inflation can be kept at around 3.3 – 3.5 percent.

 

BUSINESS NEWS SEPTEMBER 28

 Solutions needed to facilitate export of goods and services to ASEAN 

FPT’s profit up 28 per cent in first 8 months

IT giant FPT Corporation reported revenue and pre-tax profit of VND17 trillion (US$726 million) and nearly VND3 trillion in the first eight months of this year, up 21 per cent and 28 per cent, respectively.

 

Vietnam Airlines and ST Engineering Aerospace team up for aircraft maintenance service

Vietnam Singapore Technologies Engineering Aerospace (VSTEA), a joint venture between Vietnam Airlines Engineering Company (VAECO) and ST Engineering Aerospace, was introduced in Hanoi on Thursday.

PetroVietnam becomes most profitable corporation in Vietnam

Reporting 50.6 trillion VND (2.17 billion USD) in before-tax profit in 2018, the Vietnam Oil and Gas Group (PetroVietnam) has become the most profitable corporation in the country.

 

VN public spending lags behind plan

Total public investment spending reached VND192 trillion (US$8.25 billion) from January-September, the Ministry of Finance reported at an online meeting yesterday.

Vietnam to promote use of LNG in power industry

The Vietnamese Government and Ministry of Industry and Trade planned to create favourable conditions for Japanese enterprises to research, survey and deploy liquefied natural gas (LNG) projects in Vietnam as it attempted to develop its use

Korean convenience store chain CU to open in Vietnam

Major convenience store chain CU from South Korea will open its stores in Vietnam, following the success in Mongolia.

 

BUSINESS NEWS SEPTEMBER 27

Vietnam international agriculture fair opens in Hanoi

Reaching high for the Fortune Global 500

Vietnam is being encouraged to focus more on developing a skilled workforce, the domestic private sector, and improvement of regulations to attract companies on the Fortune Global 500 list to serve the new development era. 

Foreign investors flock to Vietnam’s exponential growth e-learning market

Experts attributed the big interest among foreign investors in Vietnamese edtech start-ups to the very positive outlook of the country’s online education market.

 

Vietnam reduces petroleum imports

Vietnam imported more than 6.5 million tonnes of petroleum products from January to September 15, spending US$3.97 billion, according to the General Department of Customs.

Samsung spent $40 million taking 30 per cent of CMC

The technology market is heating up after Samsung splashed out $40 million to buy 30 per cent of CMC Corporation, the second-largest IT company in Vietnam, to jointly develop AI and Internet of Things solutions.

Transport Ministry might switch to open bidding for North-South Expressway

The Ministry of Transport has issued a statement regarding the selection of investors for a projectto build a number of routes in the eastern section of the North-South Expressway.

Hong Kong-based insurer likely to reach deal with Vietcombank

Insurer FWD Group Ltd. is nearing an agreement to pay about $400 million for a unit of Vietcombank, and a long-term insurance distribution agreement with the bank, Bloomberg reported.