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Business

Vietnam expects 710,000 newly-established enterprises in next five years

The Ministry of Planning and Investment (MPI) has coordinated with relevant ministries, sectors, agencies and localities to build a draft resolution on supporting and developing businesses in the 2021-2025 period, with a target of about 710,000 newly-established enterprises in

Registered foreign investment up, disbursement down in Jan-Sep

Foreign investment inflows into Vietnam during the first nine months of this year rose 4.4 per cent year-on-ear to US$22.15 billion despite the impact of COVID-19, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

Vietnam considers mutual recognition of vaccine passport with countries

Vietnam will consider mutual recognition of a vaccine passport with other countries in Southeast Asia, the European Union, as well as with the United States, China the Republic of Korea and others.

Vietnam’s rubber export to US sees sharp surge

Vietnam exported 23,510 tonnes of rubber worth USD41.87 million to the US in the first 7 months of 2021, up 61 percent in volume and 92.3 percent in value year-on-year.

Domestic retail petrol prices hit three-year high

Domestic retail petrol prices rose by more than VND500 per litre on average as of 3pm on September 25 following the latest price adjustments made by both the Ministry of Industry and Trade and the Ministry of Finance.

MPI to submit post-pandemic economic recovery scheme in October

In October, the Ministry of Planning and Investment (MPI) will submit to the Government an economic recovery plan, which defines the years of 2022 to 2023 as the time for the country’s recovery, according to MPI Minister Nguyen Chi Dung.

Bamboo Airways successfully operates first direct Vietnam-US flight

Bamboo Airways’ first flight on its direct route between Vietnam and the US landed in San Francisco, the US, on September 23 (local time) after 13 hours and 36 minutes of nonstop flight.

Hai Phong City relocates fish cages to preserve Cat Ba Islands

The authorities in Cat Hai District, Hai Phong City have started to relocate over 400 fish farms in Cat Ba Islands to protect the environment.

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Buyers seek loan help

The pandemic as a force majeure event has crippled people’s ability to meet loan repayment requirements, the State Bank of Vietnam and commercial lenders have taken measures to deal with worrisome property assets.

Finance

Flexible, cautious monetary policy management bears fruit

Vietnam’s economy was adversely affected by the COVID-19 pandemic in 2020, along with natural disasters and the impact of trade conflicts.

Vietnamese banks will only be allowed to issue chip cards from March 31, 2021, according to a State Bank of Vietnam (SBV) draft circular.

As many as 706 enterprises, 85 percent of 832 listed companies on the Vietnamese stock market, generated profits during the third quarter of this year.

The Government’s foreign debts have been declining sharply and under the Government’s control, Deputy Prime Minister Vuong Dinh Hue said while chairing a meeting with leaders of some ministries, sectors and the National Financial Supervisory Commission.

Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen

Vietnam had 12,327 people with USD3 million to below USD30 million in net assets by the end of 2018, up 23% over the past five years and the figure is projected to reach 15,776 people by 2023.

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