Vietnam Business News

Six ministries, four localities see zeropct disbursement rate
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

By November 30, 54 localities and ten ministries had a disbursement rate below 50 percent. Of these, six ministries and four localities had zero percent disbursement rate. Three ministries and five localities saw a disbursement rate of over 50 percent of the capital plan. That is the information given by the Ministry of Finance at [8230;]

FPT Telecom International, ViewQwest to offer one-stop DX services in Asia-Pacific
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

FPT Telecom International partnered with ViewQwest on November 30 to elevate their capabilities in providing ICT and digital transformation (DX) services in Asia-Pacific, especially for large regional retailers. Known as one of the leading providers of telecommunications services and technology solutions in Vietnam, FPT Telecom International (FTI) has formed a strategic partnership with ViewQwest, an [8230;]

How an FMCG company builds a net zero value chain
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

The climate crisis needs urgent action. That8217;s why in 2021, hot on the heels of the launch of the sustainable development strategy, Unilever published their Climate Transition Action Plan an ambitious and transparent roadmap to help reduce the company8217;s operational emissions by 100 percent by 2030 and reach net zero emissions across their value chain [8230;]

Shrimp exports to Chinese market increased by 50pct in October
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Vietnamese shrimp exports to China soared by 50 percent to $65 million in October, with the northern neighbour surpassing the United States to become the largest importer of local shrimp, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). During the past 10 months of the year, the shrimp industry raked in $547 [8230;]

VN8217;s 2nd Wink Hotel opens in Da Nang
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Indochina Vanguard Hotels has opened its second Wink Hotels in Vietnam, the Wink Hotel Da Nang Centre. The hotel at 178 Tran Phu Street has 243 rooms, a 19th floor sky lobby with the 24/7 Wink Bar and a Grab and Go area where guests can stock up on snacks and drinks. It also has [8230;]

Asian investors eye more Mamp;A opportunities in Vietnam
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Investors from Japan, the Republic of Korea (RoK), and Singapore are looking for more potential merger and acquisition (M38;A) opportunities in Vietnam, pinning high hopes on the long-term growth prospects of the market. According to Masataka 8220;Sam8221; Yoshida, head of the Cross-border M38;A Division of RECOF Corporation of Japan, Japanese companies are striving to sign [8230;]

Japanese consumers prefer Vietnamese processed shrimp products
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam raked in 515 million USD from exporting shrimp products to Japan in the first nine months of 2022, posting a year-on-year increase of 24%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). The association said Japan is currently the second largest market of Vietnamese shrimp. Vietnam8217;s processed giant tiger prawn (also [8230;]

Conference seeks to tackle challenges in international trade, investment
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Sharing experience in response to challenges arising from new trends in international trade and investment was the focus of a conference held in Can Tho city on November 30. The event, which was jointly organised by the Ministry of Foreign Affairs in coordination with the People8217;s Committee of Can Tho city and Hanns Seidel Foundation [8230;]

Choosing the optimal time for greener investment
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

In the context of a drop in textile and apparel orders, the purchasing power of the industry has diminished as a result of the economic recession and inflation. Truong Van Cam, general secretary and vice chair of the Vietnam Textile and Apparel Association, explained to VIR8217;s The Hai why now is the time for textile [8230;]

Banks cannot avoid NIM deterioration
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

On November 23, 2022, the State Bank of Vietnam (SBV) offered a bid of seven trillion dong on the mortgage channel with a term of 14 days and interest rate of six percent per annum. As a result, there were 4.8 trillion dong winning and 4.8 trillion dong due. The SBV does not offer bids [8230;]

Vietnam Airlines operates special flight on first anniversary of VN-US direct flight
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

On the occasion of the first anniversary of the non-stop flight between Vietnam and the US, Vietnam Airlines provided a special flight with surprises for passengers on the evening of November 26. The passengers on VN98 flight from HCM City to San Francisco were given a special edition of a handbook and offered a lucky [8230;]

PM applauds Nike8217;s contributions to Vietnamese economy
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Prime minister Pham Minh Chinh received Chief Operating Officer of Nike, Inc., Andy Campion in Hanoi on December 1, speaking highly of the firm8217;s contributions to Vietnam8217;s exports and job creation in the recent past. The host leader noted with satisfaction the vigorous growth in Vietnam US relations, including bilateral trade rising over 18 percent [8230;]

HDBank opens transaction office in Kon Tum
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

The HCM City Development Joint Stock Commercial Bank, or HDBank, opened a new transaction office in Kon Tum on November 29, its fourth in the province and 337th in the country. Situated at 931 Pham Van Dong, Tran Hung Dao Ward, the Dak Bla transaction office is part of the bank8217;s plans to open 18 [8230;]

The legal adaption measures expected from pharma groups
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Multinational corporations in Vietnam are expecting changes in drug rules to make more business and investment progress. Tran Ngoc Anh, representative of the US-Asean Business Council, discussed with VIR8217;s Bich Thuy the current barriers and expectations stemming from legal adjustments. Marketing authorisations (MAs) have been a pressing issue among multinationals and the Vietnamese government and [8230;]

170 businesses attend International Medical and Pharmaceutical Exhibition 2022
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

The 28th Vietnam International Medical, Hospital 38; Pharmaceutical Exhibition kicked off on December 1 in Hanoi, with the event attracting the participation of 170 businesses from 15 countries globally. The majority of the participating firms come from Vietnam, India, Poland, Bangladesh, the Republic of Korea, Indonesia, Malaysia, Russia, Japan, Pakistan, France, Thailand, Taiwan (China), and [8230;]

Banks and businesses struggle with limited credit room
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Some commercial banks are reducing lending interest rates to 8216;scoring points 8216; with the State Bank of Vietnam (SBV) when the time to 8216;review room 8216; for credit for 2023 approaches. Meanwhile, businesses complain, bad or good, they are all stuck in the credit room. Reduce interest rates, banks score points waiting for more room [8230;]

Leipzig to set up representative office in Hanoi
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Healthcare, culture and education are potential fields for cooperation between Hanoi and Leipzig. Leipzig, the most populous city in the German state of Saxony, wants to open a representative office in Hanoi to strengthen bilateral cooperation and exchanges. The city8217;s vice Mayor Torsten Bonew expressed his wish during a meeting with the vice Chair of [8230;]

Industry in need of strategic links
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

With not everyone in Vietnam8217;s industrial landscape yet recovering from 20218242;s troubles, many groups have no choice but to move from low-cost production to manufacturing higher-value products with the help of digital technology and foreign businesses. Next year, pressures and new risks for the Vietnamese economy will increase, said Ramla Khalidi, resident representative in Vietnam [8230;]

Bank deposit interest rates still climb continuously
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

While a few banks announced cutting lending interest rates to support enterprises to access good capital for production and business activities at the end of the year, in the savings market, deposit interest rates remain hot every day. From December 1, some commercial banks have continued to raise deposit interest rates sharply by more than [8230;]

Vietnam8217;s logistics sector speeds up post-pandemic recovery
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Up to 68.4 percent of logistics companies in Vietnam saw increases in their revenues in the first nine months of 2022 compared to the same period of last year, a study released by Vietnam Report JSC showed. Of the 34 listed logistics companies that were surveyed, 64.7 percent said their revenues had maintained growth compared [8230;]

Online Friday 2022 launched in HCM City
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

A ceremony to launch Online Friday 2022 and open the second Concentrated Promotion Month of this year called 8220;Shopping Season8221; was held in HCM City on December 1 evening. The ceremony was jointly held by the Ministry of Industry and Trade, the Vietnam E-commerce and Digital Economy Agency, and the municipal People8217;s Committee. Duong Anh [8230;]

Tra fish exports post strongest growth among fishery products
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Tra fish exports have posted the strongest growth among fishery products so far this year while the biggest revenue was recorded in shrimp shipments, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). During the first 11 months, tra fish export value increased 63 percent from a year earlier to nearly 2.3 billion [8230;]

Vietnam needs to 8216;protect8217; citizens with market 8216;rectifications:8217; PM
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Negativity in the corporate bond, capital and property markets should be 8216;rectified8217; by punishing rule breakers to instill investor confidence, says Vietnam prime minister Pham Minh Chinh. This year Vietnam has exposed and corrected violations in these markets to 8220;protect the rights of citizens and businesses,8221; he said at a government meeting Thursday morning. Arrests [8230;]

Nam Cau Kien Industrial Park honoured at international innovation exhibition
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Nam Cau Kien Industrial Park recently received a host of awards at the International Exhibition of Science and Technology Innovation held in Seoul, South Korea on November 15. At the International Exhibition of Science and Technology Innovation, more than 400 leading Asian scientific and innovative works were selected from 16 Asia Pacific countries. Countries and [8230;]

Small steps can create giant leaps in sustainable development
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Enterprises striving for sustainable development should begin with sustainable business practices as small steps can create giant leaps, panelists said at a seminar themed 8220;Investment for Value8221; yesterday morning, November 30. The seminar was part of the Saigon Times CSR 2022 Merit Ceremony, which was held by the Saigon Times Group at Caravelle Saigon Hotel [8230;]

Vietnam-Laos trade up 28.3pct in 10 months
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Bilateral trade between Vietnam and Laos reached 1.36 billion USD in the first 10 months of 2022, up 28.3 percent year-on-year. Of the total, Vietnam8217;s exports were valued at 512.3 million USD, up 3.7 percent year-on-year, mainly from the shipment of fruit and vegetables (51.7 million USD, up 260.7%), fuel (58 million USD, up 247%), [8230;]

HDBank likely to issue $50M International convertible bonds
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

HCM City Development Commercial Joint Stock Bank (HDBank, HOSE: HDB) is consulting shareholders to issue $500 million of convertible bonds to international investors. Besides, this bank also applies to adjust foreign rooms from 18 percent to 20%. Previously, HDBank also successfully issued $325 million of international convertible bonds to the world8217;s leading prestigious financial institutions. [8230;]

Rubber producers continue to brood over tough prices and tax complexities
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam8217;s rubber industry is facing difficulties from the global market and internal problems in tax policy, with farmers, associations, and businesses alike waiting for much-needed funds. The Vietnam Rubber Association (VRA) last month proposed to the Ministry of Finance (MoF) to consider applying a VAT policy on preliminarily processed rubber and latex, similar to other [8230;]

BW and DEEP C sign land handover agreement
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

BW Industrial Development Joint Stock Company (BW) has signed a land handover agreement of 74,000sq.m of prime landbank in the Bac Tien Phong Industrial Zone in Quang Ninh, developed by DEEP C Industrial Zones (DEEP C). The ready-built factory asset is located in an emerging economic powerhouse and a key destination for investment in the [8230;]

Solutions outlined to speed up public spending
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Completing plans for public spending on investment has proved difficult due to several adverse factors in construction, such as volatility, choppy gasoline prices, difficulties for contractors to access credit capital, unfavourable weather in many key projects, and unusual amounts of rain. The government has shown determination to speed up spending for the 2022 public investment [8230;]

First pocket insurance app in Vietnam launched
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Ideal Life Consultancy Joint Stock Company has recently launched an insurtech product, IZIon24, the very first pocket insurance app in Vietnam. Through a one-stop solution, IZIon24 app enables users to satisfy all their demands, from product selection, providing information, making payments, managing contracts, and claiming compensation. Using the app, users can easily seek information and [8230;]

CPTPP still holds untapped potential for Vietnamese businesses
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

There is still a lot of untapped potential for Vietnamese businesses in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) three years after it went into effect, said policymakers and industry experts during an online conference in Hanoi on Thursday. Ngo Chung Khanh, deputy head of the Multilateral Trade Policy Department under the Ministry [8230;]

Hundreds of firms gather at WinCommerce8217;s supplier conference 2022
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

WinCommerce general Commercial Services Joint Stock Company, the operator of WinMart supermarkets and WinMart+ convenience stores, on Tuesday held a supplier conference with over 350 attendees. At the conference, the company8217;s executive board announced its business strategy in 2023 with a vision to 2025 to its suppliers. WinCommerce, a subsidiary of Vietnam8217;s consumer goods giant [8230;]

Petrol prices continue falling
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

The retail prices of petrol dropped in the latest adjustment on December 1 by the Ministry of Industry and Trade, and the Ministry Finance. The price of RON 95-III bio-fuel went down 1,080 VND per litre to 22,700 VND (0.92 USD) per litre from 3pm on December 1. Meanwhile, the retail price of E5 RON [8230;]

Gold prices inch up
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam8217;s SJC gold prices rose 0.74 percent to VND67.15 million ($2,739.14) per tael Thursday. Gold ring prices went up 0.28 percent to VND54.3 mllion per tael. A tael is equal to 37.5 grams or 1.2 ounces. Global spot gold prices went up 0.7 percent to $1,781.15 per ounce, a two-week high, supported by a weaker [8230;]

VCCI President: Promoting innovation and digital transformation will drive sustainable development
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Pham Tan Cong, President of the Vietnam Chamber of Commerce and Industry (VCCI), emphasized that innovation, creativity and digital transformation will help businesses accelerate sustainability pillars. He affirmed this while addressing the Vietnam Sustainable Development Business Forum (VCSF) 2022 themed 8220;Transform, Speed up, Break through: Sustainable Business Prosperous Nation8221;. Sustainable business has become an inevitable [8230;]

Apartment price surges in October, but demand slumps
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Prices of new apartment rose in southern localities in October, but sales were few and far between, according to a real estate consultancy. Prices were up 4-10 percent compared to early 2022 in HCM City and provinces such as Binh Duong and Long An, DKRA Vietnam8217;s latest report said. According to Savills Property Price Index, [8230;]

Vietnam8217;s draft e-transaction law and the highlights within
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

The current Vietnamese Law on E-transactions 2005 is based upon the model Law on E-Commerce, which is outdated, and its terms are difficult to apply in practice. Meanwhile, e-commerce transactions are increasingly developing due to changing user demands and habits since the COVID-19 pandemic. In 2021, the government implemented policies on the development of digital [8230;]

Reference exchange rate continues to go down
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,660 VND/USD on December 2, down 2 VND from the previous day. With the current trading band of +/-5%, the ceiling rate applicable to commercial banks during the day is 24,843 VND/USD and the floor rate 22,477 VND/USD. The [8230;]

Trade fairs of supporting industry, hardware products open in HCM City
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

The Vietnam Supporting Industry Fair (VSIF) 2022 and the Vietnam Hardware 38; Hand Tools Expo 2022 (VHHE) kicked off in HCM City on December 1. Hosted by the municipal Department of Industry and Trade, the three-day events feature 255 booths from over 200 local and foreign businesses, and prestigious brands from 12 countries and territories [8230;]

MM Mega Market innovates its We Are Fresh brand
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

As one of the leading retailers in Vietnam, MM Mega Market has developed its We Are Fresh brand identity in response to the emerging consumer trends towards health. We Are Fresh marks a new development stage to better meet the growing demands for fresh, clean, and delicious food among Vietnamese consumers. It also contributes to [8230;]

Vietnamese exports set to record spectacular achievements this year
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

With just one month to go until the end of the year, relevant ministries, localities, and enterprises have exerted great efforts in order to fulfill the export target of $368 billion set by the government, according to industry insiders. Statistics compiled by the Ministry of Industry and Trade reveal that the total import and export [8230;]

Big bosses lose billions of dollars
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Several businesspeople have built a fortune over the last decade, but their ambition of obtaining growth at lightening speed has caused their assets to drop dramatically. The stock market on November 30 had a rarely seen record: more than 54 percent of shares of a real estate firm in the north were transacted through a [8230;]

Textile groups at pains to regather momentum
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Orders of textile and garment exporters in the last months of the year have been falling sharply compared to production capacity, combined with fluctuating raw material prices, leaving many businesses to prepare for a bumpy year ahead. The Vietnam Textile and Apparel Association (Vitas) forecasts that the business results of textile and garment enterprises in [8230;]

Tie-ups breed confidence in logistics arena
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Competitive pressures in tandem with digital economy development is likely to help boost the numbers of mergers and acquisitions in the logistics field in Vietnam next year. Ditlev Blicher, managing director at Maersk Asia-Pacific, visited Vietnam last week a few months after the Danish logistics company announced a merger with Hong Kong-based LF Logistics worth [8230;]

Phu Yen lures many investors to industrial and economic zones
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

According to Phu Yen People8217;s Committee, thus far South Phu Yen Economic Zone (EZ) has attracted 53 investment projects covering 293 hectares and $218.2 million in total registered capital. Within these, 22 projects outside of the industrial zones (IZ) cover 169.7ha of space and attracted $94.86 million in total investment value. Eight have been put [8230;]

VN Index loses 5-session gaining streak
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam8217;s benchmark VN Index dropped 1.16 percent to 1,036.28 points Thursday after rising for five sessions in a row. The index closed 12.14 points lower after gaining 16.26 points on Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 22.89 percent to VND21.83 trillion ($889.21 million). The VN-30 basket, comprising the 30 [8230;]

Cooking gas prices up 3pct
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

Cooking gas prices rose on Thursday in HCM City and other southern localities, with a 12-litre cylinder now costing VND438,000 (US$17.78), 3.06 percent higher than before. This is the second increase since November after prices fell for six months in a row from May. Global rates have gone up by 1.56 percent to $650 per [8230;]

Retail industry must digitalise for wider reach
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

There is a very clear difference in modern and traditional channels that are being used by the current retail industry in Vietnam. The application of Fintech services by retailers is providing better quality services for consumers. However, it is still not being understood why the traditional channel continues to dominate 85 percent of the entire [8230;]

Low-quality rice imports to be restricted
Fri, 02 Dec 2022 22:02:01 +0000

Intellasia East Asia News

The Ministry of Industry and Trade is drafting a decree on rice trade to limit the import of low-quality grain. The volume of low-grade rice imported from India has surged due to low prices and zero import tax under the Asean-India Free Trade Area, potentially affecting Vietnam8217;s own rice production and food security. Last year [8230;]

Copyright © AccessVietnam.net, all rights reserved.    Designed and Maintained by Hallisoft