Business

Asian markets were mixed Wednesday as traders jockeyed ahead of US inflation data that could play a key role in the Federal Reserve's interest rate decision-making.

The US Agency for International Development and the Vietnam Chamber of Commerce and Industry yesterday celebrated the launch of a new tool to spur green economic growth: the Provincial Green Index.

Vietnam reported a sharp increase in rice exports in the first quarter with over 1.85 million tonnes worth over USD 981 million, up 23.40 percent in quantity and 34.30 percent in value compared to the same period last year.

Prices of petroleum products have increased again from 3 pm today, April 11.

The Ministry of Finance has recently put forward a proposal to the government to bring down value-added tax from 10% to 8% for a number of goods and services to boost the economy.

Phu Quoc Island has seen a fall in tourist numbers so far this year, particularly domestic visitors, due to higher air tickets, said Nguyen Vu Khac Huy, vice chairman of Kien Giang Province’s Tourism Association.

Policies are needed to boost the number of domestic enterprises participating in the supply chain of multinational companies, and a boost is necessary in the localisation rate of the processing and manufacturing industry, which now remain modest, insiders said.

Vietnam can take advantage of its population structure to promote economic development and attract foreign investment, according to foreign media outlets and experts.

Vietnam has issued a national action plan on building a transparent, responsible and sustainable food and food stuff system to 2030, with a goal of maintaining the export turnover of over 30 billion USD each year.

The United States has significantly increased its import of chip products from four Asian countries (Thailand, Vietnam, India, and Cambodia) since the beginning of the year, according to data released by the US Census Bureau.

The real estate sector ranks second in foreign direct investment attraction in the first quarter of 2023 with 766 million USD, accounting for 14.1% of total FDI.

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND which was started by the State Bank of Vietnam earlier this month.

The tax sector collected an estimated 462.92 trillion VND for the State budget in the first quarter of 2023, equivalent to 31.1% of the yearly estimate, the General Department of Taxation.

The Asian Development Bank raised its 2023 growth forecast for developing Asia on Tuesday, after China's abrupt loosening of Covid-19 restrictions and reopening of its borders brightened the region's prospects.

Petrol prices increased by VND100 per litre in the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance as of 3pm on April 3.

The Vietnamese stock market logged another weekly gain last week and is expected to trade in a bullish trend in the coming quarters after the State Bank of Vietnam signalled a pivot, said an expert.

Oil prices soared almost six percent in Asian trade Monday morning after major producers led by Saudi Arabia announced a surprise cut of more than one million barrels per day.

Vietnam and Israel have announced the conclusion of negotiations for their free trade agreement (FTA) which will serve as a premise for both nations to sign the deal this year.

Pakistan's year-on-year inflation hit 35.37 percent in March -- the highest in nearly five decades -- as the government scrambled to meet International Monetary Fund (IMF) conditions to unlock a desperately needed bailout.