Business

Vietnam has continously improved institutions and incentives to attract and better manage domestic and foreign investment resources.

Lotte Duty Free and Modetour - tourism service businesses from the Republic of Korea (RoK), signed a Memorandum of Understanding (MoU) in Seoul on January 26 to strengthen joint marketing efforts toward promoting the tourism market in Vietnam.

Hanoi has attracted more than US$41.1 billion in foreign direct investment to rank second in the country behind only Ho Chi Minh City in terms of FDI, according to the Foreign Investment Department under the Ministry of Planning and Investment.

Remittances to Vietnam in 2023 reached over USD16 billion, marking a year-on-year increase of 32 percent, the State Bank of Vietnam announced on Thursday.

Vietnam’s aviation market is expected to fully recover in late 2024, closely tied to the positive trajectory of the Asia-Pacific, according to the Civil Aviation Authority of Vietnam.

Royal International Corporation, which owns Vietnam’s biggest casino in the northern city of Halong, reported losses of over VND18 billion for the fourth quarter of 2023, its 17th loss-making quarter in a row.

Vietjet continues to expand its international flight network with a new route connecting Ho Chi Minh City of Vietnam with Chengdu of China, contributing to promoting trade and tourism between the two cities and two countries as well.

The Vietnamese economy will grow by 6% this year with the strength of the national economy coming from a combination of consumer and investment spending, according to a report by HSBC.

Overseas remittances to Ho Chi Minh City in 2023 reached over 9.46 billion USD, marking a year-on-year increase of 43.3% and a record high in the last ten years.

The retail and consumer industry is poised for a strong recovery in 2024, driven by positive business conditions and encouraging macroeconomic indicators, according to leading securities companies.

The Ministry of Planning and Investment (MPI) of Viet Nam and the Asian Development Bank (ADB) today launched the first-ever study on women-owned small and medium-sized enterprises (SMEs) in Viet Nam.

Interest rates at four major banks of Vietnam were adjusted sharply, down by 0.4 per cent per year from the previous listings, bringing the rate to 1.8 per cent per year at the lowest.

New supply in the industrial real estate market in HCM City and neighbouring provinces has been slow amid an increase in demand from manufacturing industries during the peak year-end buying season before Tết (Lunar New Year).

Foreign direct investment into the northern province of Hung Yen was estimated at a record high of around USD1 billion.

Vietnam's economy is projected to grow by 6 per cent this year, rebounding from a slowdown in 2023, driven by the expectation of export recovery, as per the January update from the ASEAN+3 Macroeconomic Research Office.

Apartment prices in Hanoi have been forecasted to continue increasing amid limited supply.

Vietnam exported more than 8 million tonnes of rice in 2023, and the Philippines was the largest rice buyer, according to the General Department of Customs.

Over 17 years of being a member of the World Trade Organisation (WTO), Vietnam has seen hallmark economic growth thanks to economic integration into the world, providing strong momentum for further development.

The Dong Nai Animal Husbandry Association is seeking help from the government to curb rising illegal pig imports from Cambodia which are causing losses to local farmers.