Business

Asian markets fluctuated Wednesday as investors tried to figure out the Federal Reserve's interest rate plans, while demand concerns saw oil prices struggling to recover from the previous day's plunge.

Vietnam has capitalised on the free trade agreements it has signed to bolster exports amidst weakening demand, high input costs, and inflation pressure across the globe, Minister of Industry and Trade Nguyen Hong Dien said.

With a young population, a strong ability for digital transformation among consumers, and increasing digital consumption, Vietnam is anticipated to achieve digital economic growth of US$45 billion by 2025.

Asian markets turned negative Tuesday after their latest rally as high hopes the US Federal Reserve has finished hiking rates gave way to profit-taking.

Electricity prices must be market-based to encourage power savings and new investments in the energy sector, experts have said.

The export turnover in October is expected to reach 32.3 billion USD, up 5.3 month-on-month, showing a positive signal given the 6.3% decrease recorded in the previous month.

The Asia Times has published an article outlining how Vietnam has uniquely positioned itself to be among the fastest-growing economies over the coming decade.

As of October 31, the disbursement of public investment was estimated at over 401.86 trillion VND (16.37 billion USD), completing 52.1% of the set plan and 56.84% of the target assigned by the Prime Minister, the Ministry of Finance reported.

Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned optimism that the Federal Reserve had reached the end of its interest rate hiking cycle.

“Vietnam has a lot of potential in the marketing industry because of its population of 100 million people and a good foundation for internet access,” said Greg Stuart, CEO of MMA Global.

A group of 14 British firms specializing in renewable energy technology and services arrived in Vietnam this week to sound out cooperation opportunities, including in offshore wind power development.

Prominent real estate companies reveal varying levels of success within the market, as demonstrated by different revenue and profit figures in the third quarter.

Vietnam’s real estate market is witnessing a rising number of merger and acquisition deals, with the engagement of both foreign and domestic investors.

The Ministry of Industry and Trade has proposed a mechanism under which large buyers can purchase electricity from renewable energy producers through direct power purchase agreements.

Equities extended a global rally Friday as investors were caught up in a wave of optimism that the Federal Reserve has finished its cycle of interest rate hikes, with eyes now on the release of US jobs data.

Many garment and textile companies in Vietnam are facing financial difficulties due to falling orders, leading to the laying off of thousands of workers.

The Vietnam Manufacturing Purchasing Managers' Index as reported by S&P Global, edged down to 49.6 in October from 49.7 in the previous month, indicating a second consecutive monthly decline in the manufacturing sector.

Vietnam saw over 15,400 new enterprises formed with a total registered capital of VND125.8 trillion in October, marking an increase of 21.7% in the number of firms and 7.4% in capital from September.

Petrol prices have increased from 3 pm today, November 1, following a decision by the Ministry of Industry and Trade and Ministry of Finance.