Business

Deputy Prime Minister Tran Luu Quang on May 11 attended a ground-breaking ceremony for a high-tech biodegradable materials factory, a trillion-VND project by Ecovance Co. Ltd under the Republic of Korea’s SK Group, at the Dinh Vu industrial park.

Vietnam’s industry sector has seen continuous recovery with the index of industrial production expanding 6.0% year on year in the first four months of this year, according to the Ministry of Industry and Trade.

Vietnam has the potential to meet the global semiconductor workforce need in short, medium and long terms, Minister of Information and Communications Nguyen Manh Hung told a recent seminar, highlighting Vietnam's strategic advantages in the rapidly growing industry.

Retail petrol prices have sharply dropped by over VND1,000 per litre following the latest adjustment by the ministries of Industry and Trade, and Finance.

The northern coastal province of Quang Ninh topped Vietnam's Provincial Competitiveness Index 2023 for the seventh consecutive year with 71.25 points, according to the PCI 2023 report released on May 9.

Vietnam continued its bumpy path of recovery in April, in part reflecting the highly uncertain global environment, according to the April report “Vietnam at a glance” released recently by HSBC.

Vietnam's banking sector is in a prime position to take the lead in the country's digital transformation process, said Prime Minister Phạm Minh Chính at an event organised by the State Bank of Vietnam.

Coffee prices have continued falling while local traders have reduced transactions.

The potential reduction in interest rates by the Fed is expected to open up favourable investment opportunities in Vietnamese stocks, particularly in key sectors such as banking, import-export, retail, materials, industrial parks, technology and businesses with high dividend yields.

Expediting the enforcement of the 2024 Land Law would stimulate the supply of social housing and encourage enterprises to be more assertive in participating in the development of this segment, experts predict.

Vietnam’s industrial real estate industry is expected to continue its strong growth trajectory due to foreign direct investment (FDI) inflows benefiting from tax incentives.

Pepper export continued to enjoy high export prices in April, enabling Vietnam to earn US$353 million from this 'black gold' export in the first four months.

The Civil Aviation Authority of Vietnam has claimed that increased fuel prices, exchange rates, and plane rental prices have caused airfares to rise since the beginning of the year.

The Vietnam Oil and Gas Group (Petrovietnam) on May 6 announced the discovery of two new oil and gas fields, Rong and Bunga Aster.

The textile and garment industry has long faced an imbalance between production stages.

The Board of Governors of the Asian Development Bank (ADB) approved the bank's financial statements for 2023 and an allocation of US$1.42 billion in net income from its ordinary capital resources.

Airlines and railway companies in Vietnam have reported big profits in the first quarter of this year following consecutive losses due to the impact of the Covid-19 pandemic.

Vietnam has been applying itself to making institutional, infrastructure, and manpower improvements in efforts to attract more foreign investment, especially in such big industries as electronics and semiconductor, said Deputy Minister of Planning and Investment Do Thanh Trung.

Retail sales and services revenue in the first four months of this year totaled VNĐ2.06 quadrillion (US$81.06 billion), up 8.5 per cent year-on-year, the General Statistics Office said.