Business

Japan's government said on Friday that it plans to spend 2 trillion yen ($13 billion) to boost domestic production of strategically important semiconductors and generative AI technology.

Vietnam's economic growth is forecast to accelerate to 6.3% ahead in 2024 before reaching 7.0% in 2025, according to the latest projection made by global credit ratings agency Fitch Ratings.

Costs for credit risk provisions of many commercial banks have continued to increase sharply, which was one of the causes for bank profit decline in the third quarter of 2023.

Asian stocks sank Friday and the dollar held gains after Federal Reserve boss Jerome Powell warned he "will not hesitate" to hike interest rates further in his quest to bring inflation to heel.

Up to 500 brands, 3,000 businesses, e-marketplaces, and sale supporting platforms will take part in the Vietnam Online Shopping Day - Online Friday 2023 in early December.

Most Asian stocks crept back up Thursday after another positive day on Wall Street, with focus on upcoming speeches by Federal Reserve officials, while oil edged back after a second successive plunge fuelled by demand doubts.

Vietnam exported 57,723 tonnes of pepper worth US$750.8 million to China during the ten-month period, accounting for 25.8% of the overall market share, according to the Vietnam Pepper Association.

Ho Chi Minh City is carrying out a survey of more than 15,000 firms, cooperatives, and business households as part of its 2023 Department and District Competitiveness Index.

Vietnam will remain the region’s fastest growing digital economy between 2023-2025, according to the 8th edition of the e-Conomy SEA Report published by Google, Temasek and Bain & Company.

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.