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Business

First-half GDP growth for Vietnam projected at 5.8%

Vietnam’s Gross Domestic Product (GDP) is predicted to expand 5.8% in the first half of 2021, a lower-than-expected growth compared to the set target, according to the Ministry of Planning and Investment (MPI).

Salt farmers switch to other jobs as prices drop

Many salt farmers in Binh Dinh Province are abandoning their farms due to falling salt prices and the arduous nature of the work.

Eight wind power plants in Soc Trang to be finished by October

Contractors building eight wind power plants in Soc Trang province have promised to speed up work so that they can begin generating electricity before the end of October.

Vietnam still lacks low-priced apartments

Vietnam has less than half of the low-income houses it targeted for in 2020, according to data from the Ministry of Construction (MoC).

Ha Long tourist boats lie idle despite end to social distancing

Tourists boats in Ha Long Bay in Quang Ninh Province are still lying idle despite being allowed to resume operation.

Domestic retail petrol prices hit 16-month record high

Domestic retail petrol prices rose by more than VND600 per litre at 3 p.m. on June 11 following the latest price adjustments made by both the Ministry of Industry and Trade and the Ministry of Finance.

Quang Binh seafood firms struggle to export to China

Many seafood exporters in Quang Binh Province are facing difficulties with exports to China as their goods aren't cleared at border gates.

Instant online account opening via BIDV SmartBanking

Within minutes, customers can easily open a bank account via SmartBanking app instead of visiting a bank transaction office, plus many attractive offers.

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Grab invests USD500m into Vietnam's e-economy

Grab announced that it will invest USD500m into the e-economy in Vietnam as the Decree 10 has legalised app-based taxis which will enable app-based taxi firms to operate in more provinces and cities in Vietnam.

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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