Business

Nearly 160,000 new enterprises have been established in Vietnam in 2023, up 7.2% year-on-year, according to the Ministry of Planning and Investment’s Business Registration Management Agency.

The banking sector will continue to face great challenges in 2024, especially those from bad debts, an economist has forecasted.

Asian markets opened higher on Wednesday, tracking Christmas holiday gains on Wall Street, with investors betting on the US Federal Reserve cutting interest rates as early as March.

The country attracted nearly US$36.61 billion in foreign direct investment in 2023, representing an increase of 32.1% against the same period from last year, according to statistics compiled by the Foreign Investment Agency.

Domestic gold prices continued to surge on the morning of December 26, hitting a record high of nearly VND80 million per tael.

Domestic enterprises imported a total of 9.4 million tonnes of petrol, oil, and other petroleum products worth US$7.8 billion over the past 11 months of the year.

WB official said Vietnam's economy remains resilient in 2023 meanwhile ADB Country Director points to three main growth drivers of Vietnam's economy in 2024.

Enterprises are sprinting on the last days of 2023 to compete their yearly production and business plans, and some are expanding their business activities to welcome the New Year 2024.

Four important transport projects nationwide were inaugurated in the presence of Prime Minister Pham Minh Chinh on December 24.

Many localities in Vietnam have promoted converting traditional industrial parks to eco-industrial parks and also developed new green industrial parks.

Foreign investors are expected to plough large amounts of money in the Vietnamese property market in 2024-26, according to experts.

Vietnamese logistics firms have been advised to work harder to enhance their productivity, service quality and competitiveness amid current difficulties due to global economic instability.

Establishing production chains to enhance competitiveness and promote green production has become vital for the fishery industry to develop sustainably.

Asian markets pressed ahead with their rally Friday as another round of US data further stoked expectations that the Federal Reserve will cut interest rates more than it has indicated next year.

Many people in HCM City have chosen to rent cars for travellling during the coming Tet Lunar New Year holiday due to the rising cost of train and air tickets.

The ministries of Industry and Trade, and Finance have sharply raised retail petrol prices after five consecutive reductions in their latest adjustment made on Thursday afternoon.

Vietnam's stock market is poised for growth in 2024, supported by lower interest rates and improved business performance.

Asian markets turned negative Thursday as investors took their foot off the gas after an extended rally fuelled by expectations the Federal Reserve will slash interest rates next year.

There will be little room for further reduction in deposit interest rates in 2024 as they have dropped deeply to pre-COVID-19 levels, while the lending interest rate can still be lowered by 1-1.5 percentage points next year, Vietcombank Securities forecast.