Business

The State Bank of Vietnam has refuted rumours about gold shortages in the market, affirming there is a sufficient supply of gold for legitimate demand in an effort to stabilise the domestic gold market.

The settlement of weak banks has faced difficulties as the work mainly depends on the voluntary participation of well-performed banks, the State Bank of Vietnam said.

Retail prices of petrol products were slashed starting 3pm on June 6 by the Ministry of Industry and Trade and the Ministry of Finance.

Coffee exports are expected to reach an estimated US$2.9 billion in the first five months of this year, according to Ministry of Agriculture and Rural Development’s statistics.

While US e-commerce site Amazon is a hit for many Vietnamese businesses, some struggle to profitably do business on the platform since operating expenses are high.

The Ministry of Finance said that in the first five months of 2024, domestic market prices were basically stable, with market developments in line with the price management scenario set by the PM’s Steering Committee for Price Management.

Although Vietnam has large reserves of rare earth minerals at approximately 30 million tonnes, exploitation and processing have yet to be comprehensively researched and examined, a NA deputy said.

The disbursement of public investment from the State budget in the first five months of this year was estimated to reach VNĐ190.6 trillion (US$7.44 billion), according to the General Statistics Office.

The State Bank of Vietnam (SBV) on June 3 sold SJC branded gold bars to four State commercial banks and a gold and gemstones company at a stable price in an effort to narrow the disparity between domestic and

The VN-Index has continued its decline, accompanied by significant net selling by foreign investors throughout the past week, indicating persistent pessimism in the market.

The country's industrial production index (IIP) is continuing its positive growth pace with an increase of 3.9% over April and 8.9% compared to the same period last year, according to the General Statistics Office (GSO).

Despite positive results in rice export so far, experts held that domestic firms should carefully evaluate the demand of major export markets to design suitable strategy for the rest of the year.

Vietnam has emerged as one of regional leaders in Southeast Asia's green economy transition progress.

The State Bank of Vietnam has demanded credit institutions deliver a system-wide credit growth target of 5-6 per cent by the end of the second quarter this year, and reduce lending rates by 1-2 per cent.

Despite motorcycle sales continuing to decline in the first quarter of the year, Vietnam remains the second largest motorcycle market in all of Southeast Asia and the fourth worldwide, according to newswire Motorcycles Data.

The central city of Danang will spend VND7.26 trillion (USD285.26 million) on developing the local yacht industry by 2030.

Domestic retail petrol prices fell at 3 pm today, May 30, following the decision by the Ministry of Industry and Trade and the Ministry of Finance.

Vietnam’s consumer price index rose by 0.05 per cent in May compared to April, according to the General Statistics Office.

Vietnam racked up a trade surplus of US$8.01 billion during the first five months of the year, lower than last year’s figure of US$10.2 billion, according to the latest data released by the General Statistics Office.