Business

The World Bank (WB)'s latest update on East Asia and Pacific economies has highlighted the uneven recovery in the regional economies' growth, as countries are recovering from the impact of the COVID-19 pandemic.

A surge in demand for personal protective equipment from the manufacturing sector in Vietnam due to COVID-19 pandemic, along with the orders that flowed in from around the world helped to buoy the country’s important garment-making industry.

An improving global economic outlook and progress on coronavirus disease (COVID-19) vaccinations have pushed up bond yields in emerging East Asia.

Authorities in Ho Chi Minh City have proposed to build an international financial centre in the city in an attempt to turn the city into an international financial hub.

The first VIETBUILD Hanoi International Exhibition 2021, with the theme of Construction-Building Materials-Real Estate and Interior decoration, opened at the National Palace for Architecture Exhibition - Construction Planning in Hanoi.

As the nation’s first automaker, VinFast is now officially taking pre-orders for its first-ever electric model VF e34, with the vehicle being priced at VND690 million.

Authorities in Khanh Hoa Province have recovered the land which was illegally encroached by a tourism project in Nha Trang City.

Authorities in the central province of Quang Nam have decided to revoke the investment license of a local tourism project which has a total capital of VND4.3 trillion (USD186.5 million).

Vietnam’s nominal GDP reached USD271.2bn in 2020 and the income per capita was USD2,779, higher than the predicted USD268.4bn and USD2,750 respectively.

National flag carrier Vietnam Airlines plans to resume the operation of direct flights from Vietnam to the United States in order to meet the increasing travel demand between the two countries.

Vietnamese airlines are projected to post losses totalling 15 trillion VND (650 million USD) in 2021, with their revenue continuing to plunge from that of last year, according to the Vietnam Aviation Business Association.

Land prices along the Red River have soared following the announcement of the Red River Zoning Plan.

The Mekong Delta needs VNĐ338 trillion (US$16.5 billion) in the next five years to upgrade its traffic infrastructure, improve water storage and mitigate riverbank and coastal erosion.

Ho Chi Minh City is set to rake in US$70 billion in export turnover by 2025 and US$108 billion by 2030, and maintain an average annual export growth of 9% during the 2026-2030 period.

Locally-produced drugs are set to reach 75% of the used quantity and 60% of the market value in the country, with the proportion of using domestic herbal medicines increasing by at least 10% over the course of last year.

Ho Chi Minh City is striving to earn 70 billion USD in export turnover by 2025 and 108 billion USD by 2030, and maintain an average annual export growth of 9 percent during 2026-2030.

Five Vietnamese companies have been listed in the top 10 most visited e-commerce websites in Southeast Asia despite the global pandemic affecting consumers in the region, according to the latest e-commerce report.

Local shrimp enterprises have heavily invested in building processing facilities and raw material areas for their long-term development after recording double-digit growth last year, despite the COVID-19 pandemic, whilst capitalising on opportunities from new-generation free trade agreements (FTAs).

Vietnam represents one of the potential export markets for several farm produce from the United States, especially high quality, safe, and healthy agricultural products.