Business

Tech firms led a plunge across Asian markets Wednesday after a rout on Wall Street fuelled by a collapse in chip titan Nvidia and disappointing data on US factory activity that revived recession fears.

Vietnam’s import value of meat and meat products was worth US$1.08 billion during the first eight months of the year, representing an annual surge of 20.3%, according to the General Department of Vietnam Customs.

As the EU Deforestation Regulation is set to officially take effect on December 31, 2024, Vietnamese enterprises have been advised to act swiftly to comply with this rule to maintain their export activities to this major market.

The United States surpassed China to become the largest export market for Vietnam’s agricultural, forestry, and fishery products in the first eight months of this year, according to the Ministry of Agriculture, Rural and Development.

The promotion of green and sustainable financial development has created both new opportunities and challenges for the financial system in Vietnam, according to experts.

The country’s largest import markets for ores and minerals are Australia, Brazil, Laos, Thailand, Cambodia, India, Turkey, and China.

As the EU Deforestation Regulation (EUDR) is about to officially take effect on December 31, 2024, Vietnamese enterprises have been advised to act quickly to comply with this rule to sustain exports to this major market.

Vietnam was the second largest supplier of white fish (mainly tra fish or pangasius) to the United States in the first half of 2024.

Vietnam could ship more than 1 billion USD worth of pepper abroad for the whole 2024 on the back of high global demand and limited supply, according to the Vietnam Pepper and Spice Association.

The Vietnamese government has announced a temporary 50% reduction in registration fees for domestically produced and assembled cars on August 30.

Vietnam has recorded 11.8 billion USD in agro-forestry-fisheries trade surplus over the first eight months of 2024, surging 68.4% year on year, reported the Ministry of Agriculture and Rural Development.

Google is considering building a large data centre in Vietnam, in what would be the first such investment made by a major United States technology company in Vietnam, according to Reuters.

The State Bank of Vietnam has relaxed monetary measures in the context of sharp declines in the foreign exchange rate in recent days.

Retail petroleum prices fell at 3 pm today, August 29, following a decision by the Ministry of Industry and Trade and the Ministry of Finance.

Bank credit is showing signs of recovery after a decline at the end of July, the latest statistics from the State Bank of Vietnam show.

Prime Minister Pham Minh Chinh has signed a directive on the development of the domestic consumption, production-business, and market.

Interest rates for Vietnamese đồng-denominated for long term deposits at commercial banks have reached 7.4 per cent per year, according to the State Bank of Vietnam (SBV).

Vietcombank has become the first bank in Vietnam to stop offering SJC-branded gold bars on its website and sell them through its banking app from August 27.

Vietnam and Australia have agreed to ramp up investment and trade promotion, striving to swiftly reach the trade turnover target of US$20 billion and double two-way investment over the next two to three years.