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Update news vietnam economy
Regulatory barriers must be removed to allow the local real estate sector to maintain balance and stimulate growth, experts stated at a conference in HCMC on Thursday.
The livestock and related sectors’ exports were worth US$855.4 million in the first nine months of the year and is expected to reach $1.2 billion for the year, according to the Ministry of Agriculture and Rural Development.
The total collection for the state budget may exceed VND46 trillion may not be good news, because the sources of revenue are uncertain and the collection from enterprises has decreased.
The warning about risks of funding BOT (build-operate-transfer) projects given two years ago is becoming a reality.
National brand Vietnam Value has risen in value by US$12 billion over last year to US$247 billion, according to the UK's brand valuation consultancy Brand Finance.
Attracting international investment flows into state-owned enterprises by increasing foreign ownership limits will bring equal treatment between domestic and overseas investors.
Seventy-three per cent of businesses from Hong Kong (China) expressed their intention to open additional factories in ASEAN countries, with Viet Nam coming out on top as their first pick.
Local authorities have been ordered to instruct fishing boats and other vessels in the East Sea to take shelter as Nakri, the sixth storm to strike Vietnam this year, is strengthening.
The largest steelmaker in Vietnam is considering a hold on its third blast furnace facility due to concerns with China’s steel presence in the country.
Thirty-eight Vietnam’s textile and garment companies recently attended ‘Global Sources Fashion and Global Sources Lifestyle’, the biggest fashion exhibition in Hong Kong, to seek buyers.
E-commerce development is improving, but state management in this field is facing many difficulties because the legal framework cannot cover all e-commerce activities.
Vietnam’s financial institutions are enjoying a rise in bancassurance activities, which promise strong growth amid the diminishing bank segment with regulator-driven bank consolidation.
Q3 finance reports show that a series of banks had unsatisfactory results in foreign exchange trading or took losses.
The firm announced on November 2 that 405 million shares, worth VNĐ4.05 trillion, will be traded on the Over-The-Counter (OTC) market as BAV.
The Government will focus on restructuring the seafood industry based on the demands of local and global markets to obtain sustainable growth and raise the competitiveness of the sector, Deputy Prime Minister Trinh Dinh Dung said.
With the newEU-Vietnam FTA (EVFTA), the insurance sector is expected to continue to see strong growth, while the telecom sector will be more difficult to join.
Vietnam and Thailand are two major rice exporters to the Hong Kong market, but Vietnamese rice prices are 50% lower than those offered by its rival, leaving wide room for growth for Vietnamese rice exports to the former British territory.
After many exports to the US were found disguised with ‘made in Vietnam’ labels to try to evade anti-dumping duties, Vietnam has become more vigilant over origin fraud.
According to the service commitments form of the WTO, Vietnam did not commit to allow foreign invested enterprises to conduct drug distribution services.
Tien Phong Commercial Joint Stock Bank (TPBank) has become the first Vietnamese bank to use blockchain technology for money transfers abroad.