Major Vietnamese economic highlights in 10 months

16:35 | 12/11/2024 Economy Follow Ven.vn on

Despite facing numerous difficulties and challenges from complicated and unpredictable global developments over the past 10 months, the Vietnamese economy has continued to record positive outcomes as the import-export turnover rose by 15.8%, whilst foreign arrivals to the country surged by 41.3%.

Major Vietnamese economic highlights in 10 months

Source: VOV

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SBV curbs foreign currency hoarding, dollarisation

16:29 | 12/11/2024 Economy

The State Bank of Vietnam (SBV) has applied a 0% interest rate on foreign currency deposits to address foreign exchange and exchange rate volatility, Governor Nguyen Thi Hong explained during a question-and-answer event at the 15th National Assembly’s 8th session.

63% of Vietnamese consumers expected to increase spending on essential goods in 2025

16:24 | 12/11/2024 Economy

PwC's 2024 Asia-Pacific Consumer Insights Survey reveals that 63% of Vietnamese consumers intend to increase spending on essential goods over the next year, followed by 52% on clothing and 48% on healthcare products.

HCM City real estate tax revenue jumps 50%

16:19 | 12/11/2024 Economy

Revenue from personal income tax and registration fees associated with real estate transactions in Ho Chi Minh City has surged by 50% to reach over 6.54 trillion VND (257.6 million USD) in the first nine months, according to data from tax authorities.

Vietnamese automobile market continues to see growth in sales

16:11 | 12/11/2024 Economy

After a strong surge in sales in September when the Vietnamese automobile market saw a 45% increase, an increase was still recorded in October, though at a more modest rate.

16 billion USD in credit capital committed to storm victims: SBV

17:15 | 11/11/2024 Economy

To date, 35 credit institutions have announced support packages totaling 405 trillion VND (16 billion USD) to continue lending to businesses and individuals affected by storms and floods, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong told a question-and-answer session at the 15th National Assembly’s eighth sitting on November 11.

Vietnamese e-commerce platform revenues fall in third quarter

17:09 | 11/11/2024 Economy

Vietnamese e-commerce platforms’ revenues fell significantly in the third quarter of this year, while foreign platforms saw considerable expansion, according to a recent report by e-commerce data company Metric.

Ten-month retail sales of consumer goods, services up 8.5%

17:00 | 11/11/2024 Economy

Sales of food and foodstuff rose by 10.7 per cent, household appliances and tools 8 per cent, garment 8.7 per cent, vehicles (except cars) 7.5 per cent, and cultural and educational products 6.6 per cent.

Property developers still struggle with trillions of đồng in unsold Inventory

16:56 | 11/11/2024 Economy

Despite signs of recovery in the market, real estate inventory levels in the third quarter remain high.

Over 400 e-commerce platforms register with tax authorities: GDT

16:52 | 11/11/2024 Economy

As many as 412 e-commerce platforms have registered their tax information with Việt Nam’s tax authorities, according to information on a portal under the General Department of Taxation (GDT).

SBV to propose establishment of gold exchange at appropriate time

16:46 | 11/11/2024 Economy

Governor Hồng said the establishment of a gold exchange has positive aspects such as transparency and more favourable conditions for buying and selling needs of people and businesses, however, it requires investment in infrastructure.

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Vietnamese, Peruvian Presidents seek measures to deepen relations

10:36 | 14/11/2024 Cooperation

Vietnam’s State President Luong Cuong and his Peruvian counterpart Dina Ercilia Boluarte Zegarra shared the view on the development of the two countries’ relations, with increasing high-level dialogues and political trust, and progress in economic-trade ties, during their talks in Lima.

Vietnam, Peru issue joint declaration

10:31 | 14/11/2024 Cooperation

Vietnam and Peru on November 13 issued a Joint declaration on the enhancement of bilateral relations on the occasion of the official visit to Peru from November 12-14 by State President Luong Cuong and a high-ranking delegation of Vietnam at the invitation of Peruvian President Dina Ercilia Boluarte Zegarr.

Vietnamese, Peruvian Presidents hold talks in Lima

10:25 | 14/11/2024 News and Events

Vietnamese State President Luong Cuong held talks with President of Peru Dina Ercilia Boluarte Zegarra in Lima on November 13 afternoon (local time), with the framework of his official visit to the Latin American country.

Vietnam, India enhance comprehensive strategic partnership

09:08 | 14/11/2024 Cooperation

New Delhi - Politburo member, President of the Ho Chi Minh National Academy of Politics (HCMA), and Chairman of the Central Theory Council Nguyen Xuan Thang paid a working visit to India from November 11-13.

NA Vice Chairman hosts California State Treasurer

09:04 | 14/11/2024 Cooperation

Vietnam considers the US a key strategic partner and prioritises expanding cooperation with the American country at the global, regional and bilateral spheres, with a higher degree of mutual understanding and trust, National Assembly Vice Chairman Nguyen Duc Hai said.

HCM City aims to become ASEAN healthcare hub by 2030

17:14 | 09/11/2024 Society

Ho Chi Minh City strives to have 23 doctors, 40 nurses and 42 hospital beds per 10,000 residents by 2030.

Pangasius exports to Canada see 10% over 10 months

17:21 | 09/11/2024 Trade

Despite a fall in the first half of October, Vietnamese pangasius exports to the Canadian market from January 1 to October 15 rose by 10% year on year to reach US$32 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Additional policies on advertising by influencers proposed for the Advertising Law

17:25 | 09/11/2024 Policy

Key provisions focus on transparent advertising practices, mandating influencers to disclose paid promotions and only endorse products they have personally used.

Vice President’s official trip to forge deeper friendship with Sweden: Ambassador

21:45 | 09/11/2024 News and Events

Vice President Vo Thi Anh Xuan’s official visit to Sweden from November 10-13 will help consolidate and deepen the sound traditional friendship between the two nations, according to Vietnamese Ambassador to Sweden Tran Van Tuan.

Vice President’s visit to enhance Vietnam-Czech Republic multifaceted collaboration: diplomat

21:50 | 09/11/2024 Cooperation

The official visit to the Czech Republic from November 13-16 by Vice President Vo Thi Anh Xuan, taking place when both countries are looking forward to celebrating the 75th anniversary of their diplomatic relations in early 2025, will help create new momentum to lift the bilateral traditional friendship and multi-faceted cooperation to a higher level.

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Vietnam actively contributes to APEC

08:59 | 14/11/2024 Infographic

Vietnamese State President Luong Cuong leads a high-level delegation to Peru for an official visit and to attend the 2024 APEC Economic Leaders' Week in Lima from November 12-16 at the invitation of Peruvian President Dina Ercilia Boluarte Zegarra. Since joining APEC in 1998, Vietnam has made significant contributions to APEC’s goals, actively proposing initiatives and fulfilling key roles.

Vietnam’s national brand value reaches 507 billion USD in 2024

17:06 | 11/11/2024 Infographic

In recent years, the Vietnamese national brand has made significant strides. Vietnam has not only entered the Top 100 countries with strong national brands, but also led the world in brand value growth in 2019-2022 period.

Vietnam-Chile Comprehensive Partnership

09:51 | 10/11/2024 Infographic

President Luong Cuong’s official visit to the Republic of Chile from November 9 to 12 comes as relations between the two countries continue to grow positively. The visit aims to enhance the Vietnam-Chile Comprehensive Partnership, making it more substantive, impactful, and effective.

Vietnam manufacturing returns to expansion

13:31 | 09/11/2024 Infographic

The S&P Global Vietnam Manufacturing PMI rose to 51.2 in October from 47.3 in September, marking a return above the 50-point threshold after disruptions caused by Typhoon Yagi.

Vietnam's key contributions to ACMECS

11:02 | 07/11/2024 Infographic

Vietnam officially joined the Ayeyawady - Chao Phraya - Mekong Economic Cooperation Strategy (ACMECS) at the first ACMECS Ministerial Meeting in Thailand in November 2004. As an active and responsible member, Vietnam has made and continues to make significant contributions to ACMECS.

Policy

PM urged parliament to pass legislation to ensure sufficient electricity, restart nuclear projects

09:47 | 13/11/2024 Policy

The Government leader noted that electricity demand is expected to rise rapidly, with a projected increase of about 12–13 per cent in 2025 and even higher in subsequent years.

New policy drafted to help non-bank credit institutions develop further

17:13 | 12/11/2024 Policy

Under the draft circular, the SBV proposes that credit institutions are reorganised in the form of converting non-bank credit institutions.

Việt Nam to stiffen regulations on violating social network platforms

16:23 | 12/11/2024 Policy

Minister of Information and Communications Nguyễn Mạnh Hùng said social networks can be a force for positive impacts, such as facilitating people to communicate and do business, but also pose many risks.

Party leader of Việt Nam holds phone talks with President-elect of US

08:55 | 12/11/2024 Policy

Party leader Tô Lâm congratulated Donald Trump on his election as the 47th President of the US while highly valuing the latter’s contributions to the development of the two countries’ relations.

Industry & Trade

Construction material industry's revenue to reach 47 billion USD

11:40 | 13/11/2024 Industry

Despite significant domestic demand due to low housing rates and incomplete infrastructure, Vietnam's construction materials industry faces challenges, according to insiders.

Footwear industry eyes UKVFTA to bolster exports

10:00 | 11/11/2024 Industry

Việt Nam’s footwear industry is utilising the United Kingdom–Vietnam Free Trade Agreement (UKVFTA) to increase exports, according to the Việt Nam Leather, Footwear and Handbag Association (Lefaso).

North-South express railway – driving force to spawn new support industries

17:09 | 08/11/2024 Support industries

The North-South express railway project will create a significant opportunity for Vietnam's mechanical and construction industries to advance in technology.

Automotive support industry strives to become spare part supplier

09:34 | 08/11/2024 Support industries

HÀ NỘI — The demand for transport in Việt Nam has been increasing rapidly, with experts saying that the market shows a lot of potential for automobile and motorbike manufacturers and traders.

Investment

Bac Giang prioritises high-tech FDI projects, services industry

17:04 | 12/11/2024 FDI

The northern province of Bac Giang will continue attracting foreign direct investment (FDI) projects in the time ahead, prioritising those using high-tech or relating to supporting industries and high-quality services, local authorities have said.

Vietnam draws new wave of high-value investments: Savills

19:30 | 10/11/2024 Investment

Vietnam’s industrial and digital sectors are experiencing a strong growth, fueled by a surge in foreign direct investment (FDI) inflows, large-scale infrastructure projects, and a favourable legal environment, according to Savills Vietnam.

Hanoi attracts 1.6 billion USD in FDI in ten months

15:18 | 07/11/2024 Investment

Hanoi attracted 58.4 million USD in foreign direct investment (FDI) in October, bringing the total in the first ten months of this year to 1.6 billion USD.

Foxconn to invest US$80 million in Bắc Giang for chip manufacturing expansion

16:16 | 04/11/2024 Investment

Foxconn's Shunsin Technology Việt Nam is seeking an environmental permit for a US$80 million chip manufacturing project in Bắc Giang province.

Finance-Banking

UK stands ready to help Vietnam build international financial hub

17:13 | 13/11/2024 Finance-Banking

The UK’s support for Vietnam in establishing an international financial hub is a significant development that reflects the growing economic ties between the two nations.

S&P affirms Techcombank’s BB- rating

10:10 | 11/11/2024 Finance-Banking

S&P Global Ratings has reaffirmed Techcombank’s issuer rating of BB- with a “stable” outlook, highlighting the bank’s robust profitability, stable capitalisation and strong asset quality.

Tax sector fulfils nearly 95% of state budget collection target

15:38 | 09/11/2024 Finance-Banking

The General Department of Taxation on November 7 reported that the total state budget collection of the sector in January – October was estimated at over 1.4 quadrillion VND (55.18 billion USD), or 94.8% of the annual projection and up 16.3% against the same time last year.

Việt Nam's stock market moves closer to emerging market status amid key policy changes

18:05 | 06/11/2024 Stock Market

The swift efforts by the Vietnamese securities regulator to eliminate pre-funding requirements have garnered praise from FTSE Russell and Morgan Stanley.

Environment

Vietnam looks towards Net Zero goal in agriculture

17:25 | 12/11/2024 Environment

(VEN) - On November 15, the Central Committee of the Vietnam Farmers’ Union, in coordination with the Ministry of Natural Resources and Environment, will hold a forum for the President of the Vietnam Farmers’ Union and the Minister of Natural Resources and Environment to listen to farmers’ opinions.

Holistic approach needed to improve glass recycling

11:31 | 12/11/2024 Environment

A holistic approach is key to developing solutions that can drive change in glass recycling in Việt Nam and the ASEAN region, experts suggested.

Storm Toraji intensifies and moves northwest in East Sea

08:58 | 12/11/2024 Environment

Accompanied by strong winds reaching level 6, with gusts up to level 8 near Lý Sơn Island in Quảng Ngãi Province, the storm originated from a tropical depression.

Typhoon Yinxing weakens as it moves southwest

10:04 | 11/11/2024 Environment

At 1am on Monday, the storm's centre was positioned approximately at 17.9 degrees North latitude and 112.1 degrees East longitude, in the western sea area of the northern East Sea, about 130 km north of the Hoàng Sa (Paracel) Islands.

Science - Technology

4G mobile network coverage reaches 99% of Vietnamese population: Minister

16:51 | 13/11/2024 Science - Technology

Vietnam's 4G mobile network coverage now reaches 99% of the population, bringing the country close to the level of developed nations, which is at 99.4%, Minister of Information and Communications Nguyen Manh Hung affirmed at a Q&A session as part of the 15th National Assembly’s ongoing 8th sitting on November 12.

Quang Ninh to host 3rd Vietnam Int'l Digital Week next week

17:11 | 12/11/2024 Science - Technology

The 3rd Vietnam International Digital Week will take place in Ha Long city, the northern province of Quang Ninh, from November 19-22 for the second consecutive year.

Việt Nam's new fast track policies to boost high-tech investment environment set for approval

09:33 | 09/11/2024 Science - Technology

Minister of Planning and Investment Nguyễn Chí Dũng has revealed that the government's new policies to position Việt Nam as a prime destination for high-tech investment, especially in sectors like semiconductors, will be approved this year.

Practical innovations

09:15 | 06/11/2024 Science - Technology

Recent cooperation between InfraSen, a start-up in semiconductor technology, and MK Group, a leading company in technology, has shown an encouraging sign of unity between scientists and economists. The MK Group will help produce a thermal image core sensor of InfraSen for domestic and overseas markets. Let’s listen to insiders’ voices about semiconductor device production in Việt Nam!

Society

Vietnamese universities strive to attract international students

11:43 | 13/11/2024 Society

Over recent years, the number of international students studying at Vietnamese universities has steadily increased, reflecting a growing recognition of Vietnam’s higher education quality. This rise is attributed to universities focusing on quality assurance.

Major Vietnamese economic highlights in 10 months

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