Business

HCM City received nearly US$5.2 billion in remittances in the first half of the year, up 20 per cent year-on-year, according to the State Bank of Vietnam (SBV), HCM City branch.

Asian markets fell Monday as Joe Biden's decision to drop out of the US presidential race fuelled fresh uncertainty, while traders appeared to be unmoved by China's decision to cut interest rates in a bid to boost the country's

The recent vigorous growth of startups in Vietnam has attracted domestic and foreign investors, but insiders recommended more efforts be made to facilitate startups’ access to funding from investors so that they can live up to potential.

Deputy Prime Minister Lê Minh Khái has asked the Ministry of Industry and Trade (MoIT) to study the establishment of a petroleum exchange.

The Ministry of Industry and Trade is seeking public comments on the draft Circular to finalise the regulations for importing used cars under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership tariff quota system in Vietnam.

Despite low interest rates, individual customers have continued to deposit at banks, setting a new record high for savings.

Asian equities sank in line with Wall Street Friday as the optimism over expected US interest rate cuts was overshadowed by uncertainty about the presidential election and worries over China's economy.

The pepper prices on July 18 in some key pepper producers of Vietnam continue to be under downward pressure, reaching the lowest price of VNĐ147,000 (US$5.79) per kilo.

Vietnam, along with Thailand, are the two fastest growing e-commerce markets in Southeast Asia, according to the recently released report '2024 E-commerce in Southeast Asia' by Momentum Works.

The Vietnamese stock market has failed to break the crucial 1,300-point threshold despite various efforts, preventing the establishment of a sustainable upward trend.

Authorities of the southern central province of Khanh Hoa have proposed an investment of VND8 trillion (USD314.34 million) to build Van Phong Airport.

The Asian Development Bank (ADB) has slightly raised its economic growth forecast for developing Asia and the Pacific this year to 5.0% from a previous projection of 4.9%, as rising regional exports complement resilient domestic demand.

Air ticket prices have increased since the beginning of July, the peak summer holiday time.

Minister of Industry and Trade Nguyễn Hồng Diên has suggested the International Federation of Freight Forwarders Associations provide practical solutions to assist Vietnamese businesses.

Singapore-based United Overseas Bank (UOB) has maintained its forecast for Vietnam’s economic growth at 6% for the whole year on the back of the recovery of both domestic and foreign demand as well as production sector in the first half.

Many hotels in HCM City have offered attractive discounts to tourists who take night flights to the city.

It is expected that Vietnam will no longer offer tax incentives such as corporate income tax exemption and reduction as of 2025 in a bid to improve the capacity of public finance for infrastructure investment, said Minister of Finance

HCM City would need VND871.2 trillion (USD34.18 billion) for six metro projects, according to the plan for the city’s metro development by 2035.

The European Chamber of Commerce in Vietnam (EuroCham) on July 15 released its Business Confidence Index (BCI) report for the second quarter of 2024, which reveals a marginal decline from 52.8 in Q1 to 51.3 in Q2.