Business

China spent more than US$397 million buying one million tonnes of cassava in the first four months of the year, thereby becoming the largest importer of Vietnamese cassava, according to statistics released by the General Department of Vietnam Customs.

Four State-owned banks have further cut deposit interest rates by 0.2-0.3 percentage points to reach around 7 per cent for 12-month deposits.

The railway sector will provide more trains from HCM City to the southern central cities of Nha Trang and Quy Nhon to meet increasing summer tourism demand.

Tens of thousands of tonnes of low-priced chicken are imported into Vietnam illegally every month, challenging domestic chicken farmers.

Despite an overall export decline due to the shortage of orders, foreign direct invested (FDI) businesses still posted more than USD14 billion in trade surplus in the first four months, further affirming their role as the main growth

A shipment of 781 electric vehicles (VF8 series) manufactured by leading Vietnamese automaker VinFast arrived at the Canadian port of Nanaimo in British Columbia on May 18, VinFast has said.

Vietnam exported 51,400 tonnes of cashew worth US$305.48 million throughout April, reaching the highest level since October 2021, according to figures released by the General Department of Vietnam Customs.

Vietnam witnessed declines in both exports and imports in the first four months of 2023, and exploring new markets is now considered one of the solutions to foreign trade bottlenecks.

Firms in supporting industries in Vietnam are in desperate need of high-qualified and skilled workers in addition to solutions regarding capital and raw materials.

The amount of drugs seized via air routes has been increasingly lately, with the majority of drugs being transported from Europe, according to details given by the General Department of Vietnam Customs.

Vietnam imported 3.26 million tonnes of oil and petrol worth around US$2.77 billion during the first four months this year, down 4.8% in volume and 16.3% in value year on year, reported the General Department of Vietnam Customs.

The number of visitors to Phú Quốc City has decreased significantly year-over-year, mainly due to expensive flights and unstable service prices, said city authorities in a conference held on May 15.

After nearly four years of formulation and revision, the National Power Development Plan VIII targeting energy conversion, renewable energy ecosystem development, and electricity imports and exports has been approved by the Government.

Investment in sectors related to green growth has been on the rise, but it is necessary to devise practical incentives to help businesses effectively adopt green production and business practices, an official has said.

Thailand's economy grew 2.7 percent in the first quarter thanks to a steady tourism recovery and strong consumer confidence that offset sluggish exports, officials said Monday.

Many banks plan to increase their charter capital in 2023 in order to ensure operational safety and have more resources for business development.

Vietnam requires a proper and attractive investment policy and a friendly business climate in order to attract new foreign direct investment (FDI), especially high-quality FDI flows, heard a seminar held on May 15 in Hanoi.

The Government of Canada (GoC) is determined to promote Canadian food products on digital platforms, with the goal of introducing a wide range of high-quality products and enhancing awareness of Canadian food among Vietnamese consumers.

The Mekong Delta region, located on the maritime route in the centre of the ASEAN region, has great potential to draw strong investment waves from other countries, especially neighbouring nations.