Business

Vietnam's top importers in first seven months

Vietnam's top importers in first seven months

The US, China, EU, ASEAN, Japan and the Republic of Korea were the biggest importers of Vietnamese goods in the first seven months this year, according to the General Statistics Office.

Vietjet Air reports VND2trn in losses

The budget airline Vietjet Air has reported losses of over VND2trn (USD86m) in the first half of 2020.

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 Vietnam emerges as popular industrial property destination: CBRE

Vietnam has emerged as a popular destination for industrial property projects as increased labour costs, trade disputes and COVID-19 prompt global manufacturers to vary their supply chains throughout Asia, according to CBRE.

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LG Electronics to build additional R&D centre in Vietnam

Major home appliance maker LG Electronics Inc. is considering building a new research and development (R&D) centre in Vietnam, while simultaneously expanding its existing facility in Haiphong.

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European Commission issues press release on EVFTA

The European Union – Vietnam Free Trade Agreement - the most comprehensive trade agreement the EU has signed with a developing country, will take effect from August 1, a press release of the European Commission stressed.

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Tra fish exports to UK rise despite COVID-19 pandemic

The total export value of Vietnamese tra fish to the UK in the first half of 2020 rose 7.3% compared to the same period last year despite the impacts of the COVID-19 pandemic.

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Prime Minister Nguyen Xuan Phuc hosted a reception on July 29 in Hanoi for groups and businesses from the Republic of Korea (RoK) that are investing in Vietnam.

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CPI in July picks up 0.4%

The Consumer Price Index (CPI) in July increased 0.4% compared to the previous month, according to the General Statistics Office.

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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.

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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.

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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

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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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Many banks have seen their service earnings accelerate, buoyed by increasing investment for the business segment and rising market demands.

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Vietnam has set a target to restrain inflation at below 4% in 2019, however, there may be challenges.

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