Business

Prices of Vietnam’s rice exports have reached the highest level in 15 years following export restrictions in some countries.

The strong recovery of tourism has helped businesses in the industry prosper. However, risks such as economic recession, high interest rates and interest expenses still affect corporate profits.

Vietnamese enterprises in the auto industry are not deeply involved in the global supply chain. To become global suppliers, domestic enterprises must be consistent with the management culture and business philosophy of global manufacturers, experts say.

Vietnamese exporters have encountered many challenges due to rising inflation worldwide, the downward trend in commodity prices and the falling demand in many export markets.

Vietnam will seize the opportunity in the international marketplace to elevate rice exports at a premium price, while still preserving food security.

The US Agency for International Development (USAID), Vietnam’s Office of the Government (OOG), and the Ministry of Planning and Investment (MPI) on Friday celebrated their joint achievements in improving the business environment and enhancing the competitiveness of Vietnamese small

Besides reducing business conditions, a number of ministries and sectors have continued to issue and enforce new business conditions with stricter requirements that cause difficulties for enterprises, an official has said.

State budget collection in the first seven months of this year stood at 211.23 trillion VND, equivalent to 49.7% of the estimate, down 19.6% year-on-year, the General Department of Vietnam Customs reported on August 3.

Despite signs of transaction stagnation, apartment prices in several areas of some big cities like Hanoi and Ho Chi Minh City still increased during the second quarter of 2023, said the Ministry of Construction.

Prime Minister Pham Minh Chinh highlighted joint efforts by ministries, agencies, businesses and people in handling pending issues related to the real estate market while chairing an online conference on August 3.

International organisations and media have continued to make positive assessment of Vietnam’s economic recovery and outlook in the second half of 2023.

Enterprises should look for niche markets to better cope with declines in exports in major markets, said the Ministry of Industry and Trade.

Rice export curbs by some countries like India, Russia and the United Arab Emirates will offer opportunities to both Vietnamese exporters and farmers.

Vietnam's manufacturing industry remained in contraction territory in July but showed some signs of stabilisation as softer declines were seen in output, new orders and employment while business confidence picked up, according to S&P Global.

The ministries of Industry and Trade, and Finance have sharply raised retail petrol prices from Tuesday afternoon.

Vietnam recorded a trade surplus of about US$15.23 billion in the first seven months of this year, an increase of 1.34 per cent over the same period last year, according to data released by the General Statistics Office of Vietnam.

The capital city of Hanoi attracted nearly 2.3 billion USD of foreign direct investment in the first seven months of this year, with 233 new projects worth 97.5 million USD.

Total retail sales of consumer goods and services have increased 10.4% year on year to almost 3.53 quadrillion VND in the first seven months of 2023, reported the General Statistics Office.

Royal International Corporation, the owner of Vietnam’s biggest casino in the northern province of Quang Ninh, has again reported losses of VND24.20 billion (USD1.02 million) for the second quarter this year.