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Business

First Spring 2023 trading session of stock market opens

The Ho Chi Minh City Stock Exchange (HOSE) hosted a gong-beating ceremony on January 31, marking the first trading session of the Vietnamese stock market in Spring 2023.

Asian markets take fresh hit as nervous traders await Fed meeting

Asian markets sank Tuesday following a big selloff on Wall Street and ahead of a key Federal Reserve policy decision later in the week, while data showing a bounce in Chinese economic activity failed to lift the mood.

10,800 new enterprises established in January

Vietnam reported 10,800 newly-established enterprises in January, an increase of 0.7 percent over the previous month, according to the General Statistics Office.

Petrol prices sharply increase in latest adjustment after Tet holiday

The ministries of Industry and Trade, and Finance have sharply raised retail petrol prices from Monday afternoon.

Many Vietnamese spices removed from the EU's control list

A number of herbs and spices imported by the EU from Vietnam will face fewer checks when entering the bloc.

Nearly 100 petrol stations shut down during Tet holiday

Nearly 100 petrol stations nationwide were closed during the Tet Lunar New Year holiday, claiming they had run out of stock and lacked employees.

Markets lose ground as traders await rate decisions

Stocks mostly fell Monday as traders struggled to maintain momentum from last week's rally, though Shanghai advanced as mainland Chinese markets reopened after a week-long Lunar New Year break.

State-owned banks under capital increase pressure

Vietnam’s four biggest State-owned banks have an urgent need for capital increase in 2023 as their charter capital is too low, with some unable to ensure the regulated minimum capital adequacy ratio, according to industry insiders.

More Business

January FDI nears 1.7 billion USD(01/30/2023)
RoK tops list of countries with most foreign visitors to Vietnam(01/29/2023)
January’s CPI increases 0.52% due to high Tet demand(01/29/2023)
Vietnam among world’s 10 biggest recipients of remittances(01/29/2023)
New expressways in Mekong Delta expected to create socio-economic breakthroughs(01/28/2023)
Hai Phong aims to become an international logistics centre(01/27/2023)
Leather and footwear industry targets US$27 billion in 2023 exports(01/27/2023)

Ministry proposes removing coal plants from energy plan

The Ministry of Industry and Trade has suggested the Government remove coal-fired plants with a capacity of 14,120 megawatts from Power Development Plan VIII (for 2021-30), which is currently being drafted.

Finance

Loosening monetary policy welcomed amid credit crunch

The State Bank of Vietnam’s recent decision to revise up the 2022 credit growth target of the banking system has eased access to bank loans amid a credit crunch, especially at the peak season to prepare for Lunar New Year.

Minister of Trade and Industry Dang Hoang An and Italian Undersecretary for Foreign Affairs Manlio di Stefano co-chaired the seventh meeting of the Joint Commission on Economic Cooperation, following a two-year hiatus caused by the COVID-19 pandemic.

Deputy Prime Minister Le Minh Khai has approved the sovereign credit rating improvement project by 2030, part of an effort to make Vietnam a developing and upper-middle-income country with modern industry.

The State Bank of Vietnam has urged lenders to not relax credit approval conditions but set tighter control on foreign currency lending and granting loans in high-risk sectors.

Despite the negative impact of the COVID-19 pandemic, the remittance flow to the country throughout 2021 reached more than US$12 billion, an increase of 10% compared to 2020, according to data published by the State Bank of Vietnam (SBV).