Business

The average hotel room rate in HCM City in the third quarter saw a considerable increase thanks to the local tourism sector’s recovery.

Budget revenue was forecast to be 14.3 per cent higher than the plan this year but the structure lacked stability as the increase was mainly from land-related revenues.

Prices of petroleum products have slightly risen from 3 pm today, October 21.

Most Vietnamese firms operating in supporting industries are technologically and managerially underdeveloped, according to insiders.

Vietnam’s GDP grew by 13.7% year-on-year in the third quarter of this year and 8.9% over the first three quarter, according to a report released by the World Bank on October 20.

Equities tumbled Thursday, tracking a sell-off on Wall Street, while the dollar regained its strength as surging inflation, interest rate hikes and recession fears returned to the fore.

The confidence of European enterprises in Vietnam’s investment and business environment slipped further to 62.2 percentage points in the wake of a worsening global economic downturn but still remains strong.

VinFast has revealed its European business strategy and announced the opening of dedicated country headquarters in Germany, France and the Netherlands at the 2022 Paris Motor Show, which is underway from October 17 – 23.

VinFast, a subsidiary automaker of Vietnamese conglomerate Vingroup, officially launched four electric vehicle (EV) models at the Paris Motor Show 2022 international auto show which is running from October 17 to October 23.

Equities mostly rose and sterling held on to its gains Tuesday after the UK government scrapped a controversial debt-funded mini-budget that had roiled markets, while traders were also cheered by a broadly positive start to earnings season.

Despite global volatilities, Vietnam’s economy has rebounded strongly this year beyond the forecasts of many international organisations, making the country one of the rare bright spots in the global gloomy picture.

After over five years of negotiations, the US Department of Agriculture has officially licensed the import of fresh pomelo from Vietnam, an official has said.

As many as 30 big foreign suppliers, including Microsoft, Facebook, Netflix; Samsung; TikTok; and eBay made tax declaration via the portal http://Etaxvn.gdt.gov.vn and paid 22.2 million USD worth of tax, according to a report recently submitted by the Ministry

The State Bank of Vietnam (SBV) has decided to widen the trade band of USD/VND spot exchange rate from +/-3% to +/-5%, effective from October 17.

The orientation of foreign capital flows pouring into Vietnam is heavily influenced by global factors.

Standard Chartered Bank has raised its Vietnam GDP growth forecast for 2022 to 7.5% from the previous 6.7% and for 2023 to 7.2% from 7.0% to reflect robust Q3 growth of 13.7% year-on-year.

Vietnam has become the third largest supplier of coffee to the US over the first eight months of 2022, reported the General Department of Customs.

The longest 220kV offshore overhead power transmission line in Southeast Asia, connecting the mainland of the Mekong Delta province of Kien Giang and its resort island Phu Quoc, was put into operation on October 14.

Hanoi People's Committee has just asked the city's Urban Railway Management Board to study the sixth urban metro project connecting Noi Bai Airport with a new urban area in the western district of Thanh Tri's Ngoc Hoi Commune.