Business

Banks are struggling to sell defaulting borrowers’ collateral, primarily real estate, to recover the debts since the property market is sluggish.

The Ministry of Finance is set to announce the final draft of a circular related to the upgrade of Vietnam's stock market and operate the Korea Exchange system this week.

The Ministry of Planning and Investment has provided updates for economic growth scenarios in the second half of this year, in which the Vietnamese economy could beat forecasts and expand at 7% for the full year.

Vietnamese exports to the United States such as computers and parts, electronics, machinery and equipment, garments and footwear have ample room to grow, according to trade experts.

Vietnam expects to attract about US$39-40 billion in foreign direct investment capital this year, a figure which is equivalent or higher than the same period in 2023, said Deputy Minister of Planning and Investment Tran Quoc Phuong.

A recent roundtable in Ho Chi Minh City discussed measures to support and promote the real estate market development.

The strong growth experienced in the first half of the year provides a solid foundation for building momentum towards achieving the annual growth target.

Construction started on the Quang Tri airport project, which has an initial outlay of 5.8 trillion VND (227 million USD), in Gio Linh district on July 6.

The Hong Kong Monetary Authority fined the local arm of Singapore's DBS Bank HK$10 million ($1.3 million) for breaches of its anti-money laundering law, the banking regulator said on Friday.

Vietnam’s export products are facing 252 trade defence lawsuits from 24 markets as of June, according to the Ministry of Industry and Trade.

The State Bank of Vietnam will research and amend regulations on safety and security in online banking service provision to better protect customers, an SBV official said on Thursday.

Domestic retail petroleum prices rose at 3 pm today, July 3, following a decision by the Ministry of Industry and Trade and the Ministry of Finance. This marks the fourth consecutive petroleum price increase.

The northern province of Bac Giang has earned VND6.6 trillion (USD235.75 million) from litchi sales this year.

The international aviation market has fully recovered and slightly surpassed pre-COVID-19 levels, Director-General of the Civil Aviation Authority of Vietnam Dinh Viet Thang said at the Ministry of Transport’s mid-year conference on July 3.

The consumer price index of the Vietnamese economy is unlikely to go wild this year due to inflation and market prices cooling down globally, said Assoc. Prof. PhD Ngo Tri Long, a leading Vietnamese economist.

Vietnam’s automobile market is expected to bounce back in the last months of 2024 if a proposal to cut registration fees by a half for domestically manufactured and assembled cars is approved.

Durian exports have brought in over USD1 billion in May and June.

Vietnam's economic growth might decelerate in the second half compared to that in the first half, with several supportive factors expected to sustain the overall growth outlook, according to the Singaporean-based United Overseas Bank.

Foreign investment disbursement in the first half of this year reached an estimated US$10.84 billion, surging 8.2 per cent year-on-year and marking a record high over the past five years, according to the General Statistics Office.