Vietnam News Economy

Despite initial successful integration, Vietnamese companies are positioned among the lowest segments of global value chains, due to offering products with little added value.

SSI has announced its third quarter results that show revenues and profits before tax were worth VNĐ1.99 trillion (US$79.1 million) and VNĐ937 billion ($37.2 million), up 5 per cent and 11 per cent year-on-year.

A delegation of the administration of northern Hải Phòng city has signed a letter of intent (LOI) with the Canadian - ASEAN Business Council (CABC) and visited dynaCert, a Canada-based company delivering carbon emission reduction technologies, in efforts to connect technology supply and demand and help local businesses expand markets.

The West African country has the most stable politics in the region, and an open economy. It is home to the headquarters of the Central Bank of West African States, the Dakar international seaport and a railway system, which is transit point for goods in the sub-region.

Meanwhile, 40.4 per cent of the surveyed enterprises said their business will remain stable and the remaining 17.4 per cent of the firms foresaw more difficulties.

About 30 Vietnamese handicraft and gift companies are promoting their products at the MEGA Show Hong Kong 2024 which is taking place in the special administrative region of China from October 20-23.

Global gold prices have also increased due to expectations that the US Federal Reserve will cut interest rates next month.

This significant restructuring of credit institutions opens up numerous growth opportunities for both the receiving and transferred banks.

Under the programme on high-tech marine farming, worth VNĐ1 trillion, the province will focus on an area of three to six nautical miles off Vạn Ninh District, Ninh Hòa Town and Nha Trang Bay.

By 2030, Việt Nam should have launched at least two new international submarine cable routes and established multiple AI-supportive data centres that meet international standards, with a Power Usage Effectiveness (PUE) rating not exceeding 1.4.

Placing restrictions for individual investors in buying and selling private corporate bonds is a step in the right direction. Still, it's important to ensure that capital flows from investment funds and other financial institutions stay undisrupted, said market analysts and experts.

At last week’s meeting, SBV’s deputy governor Đào Minh Tú said the SBV has so far left open any policy interest rate decision.

Explaining the increase in orders, Trương Văn Cẩm, deputy chairman of the Vietnam Textile and Apparel Association, said the increase in orders was mainly due to a shift from other countries to Việt Nam, not due to increasing market demand.

Analysts note that in the short term, Việt Nam's stock market is struggling to break through due to a lack of consensus around the psychological resistance level of 1,300 for the VN-Index.

Coteccons Construction Joint Stock Company (HOSE: CTD) targets revenue of VNĐ25 trillion (US$993.7 million) and profit after tax of VNĐ430 billion ($17 million) for fiscal year 2025 that runs from July 1, 2024 to June 30 next year, up by 18.8 per cent and 38.7 per cent over last year, respectively.

Many localities have been developing medicinal herbs in the forest environment and successfully associated their forest development with ecotourism development.

The central coastal province of Ninh Thuận seeks to attract investors from Đồng Nai Province in the southeast economic region for its key industry groups, attendees heard at a conference held on Friday (October 18).

Traders attribute the price increase and the sustained high levels over recent months to China’s shortage of domestic areca nut supply, leading to an uptick in imports from Việt Nam.

Requiring e-commerce platforms to declare and pay taxes on behalf of sellers is feasible because the platforms own information about sellers' successful transactions, revenues and fees, tax authorities say.

The Việt Nam e-Commerce Association (VECOM) has said that a proposal that e-commerce platforms declare and pay taxes on behalf of sellers is unreasonable and should be removed from the draft amended Law on Tax Management.