Business

Ministry warns of USD3 bn trade deficit

Ministry warns of USD3 bn trade deficit

The Ministry of Industry and Trade has forecasted that Vietnam would face a trade deficit of USD3 billion this year.

Vietnam, Hong Kong to promote trade amid US-China tensions

Vietnam and Hong Kong should promote investment, trade and service flows between the two sides to take advantage of a diversion of trade from China amid escalating tensions between the US and China, a banking official said.

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Ambitious export goal set for footwear sector this year

Vietnam has targeted an export turnover of USD21.5 billion for the footwear and bag export sector in 2019, up 11% on-year.

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 Fake wine produced in large scale in Hanoi

A ‘wine’ manufacturer in Hanoi has just been found producing large amounts of low-quality wine to sell at dirt-cheap prices.

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ASEAN looks to strengthen tourism ties with China, Japan and RoK

Vietnamese Minister of Culture, Sports and Tourism Nguyen Ngoc Thien chaired the 18th ASEAN Plus Three Tourism Ministerial Meeting on January 18, which forms part of the ongoing 2019 ASEAN Tourism Forum (ATF) in Ha Long city, Quang Ninh province.

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Vietnam ranks 18th in the world for expat careers: HSBC survey

Vietnam has climbed eight places to 18th in the world as the best place for a career for expatriates, according to HSBC’s Expat Explorer survey.

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Hanoi leader warns of power shortages

Chairman of the Hanoi People’s Committee Nguyen Duc Chung has expressed concerns that Hanoi could face power shortages in 2020 if construction lags on several power plant projects.

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Vietnamese prefer cash over online transactions

Many Vietnamese people still prefer cash payment over online transaction because of security concerns.

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Local banks have increasingly sought cross-border borrowings in recent years after being pressured to raise capital for lending.

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HCM City Taxation Department have found it difficult to collect taxes from online businesses, said a local official.

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A man in the Mekong Delta city of Can Tho has been fined VND90 million (USD4,000) for the illegal exchange of US dollar at a local gold shop.

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Vietnam has seen a considerable increase in GDP per capita, but more efforts were needed to achieve the goal of USD3,200 by 2020.

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The Vietnamese economy is expected to expand by 6.7% in 2018, according to an estimate by the Ministry of Planning and Investment (MPI).

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Vietnam has been listed in the top ten countries receiving the highest overseas remittances worldwide, according to a report jointly conducted by United Nations Development Programme and the Vietnamese Ministry of Planning and Investment.

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