Vietnam News Economy

In early December, savings interest rates diverged, with some banks raising rates to attract capital, while others lowered them to cut costs, a trend experts predict will intensify.

According to SBV’s Governor Nguyễn Thị Hồng, credit growth has created strong momentum for the economy to recover and develop as it continues to face challenges.

Việt Nam remains a top destination in ASEAN for Japanese businesses despite post-pandemic economic challenges.

Việt Nam is the 13th largest tuna product supplier to the UK, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). 

With 2024 nearing its end, Việt Nam's GDP growth is set to surpass the 7 per cent target, driven by efforts from ministries and sectors, says Deputy Minister of Planning and Investment Trần Quốc Phương.

These funds have seen growth of over 100 per cent in the past two years.

Buiding on its impressive performance in 2024, Petrovietnam is setting a double-digit growth target of over 10 per cent for 2025.

The United Kingdom - Việt Nam Free Trade Agreement (UKVFTA), effective since 2021, reduces or eliminate tariffs on many product groups, helping strengthen bilateral trade, which in turn is making Việt Nam an increasingly attractive business partner for UK firms.

Temu, owned by Chinese e-commerce giant PDD Holdings, is considered one of the world’s fastest-growing e-commerce platforms, with sales estimated at $30 billion by the year-end. It started allowing shoppers from Việt Nam in October.

Five banks, including Vietinbank, ACB, VIB, Techcombank and MSB, have qualified for the credit room expansion in the last time of this year

The stock market experienced a slight correction over the week, with the VN-Index testing a critical support zone around 1,260 points as short-term profit-taking pressure increased.

Trà Vinh Province is focusing on helping local businesses promote and sell their products towards the end of the year, especially exploiting favourable policies brought by Việt Nam’s free trade agreements with foreign markets, such as the UKVFTA, CPTPP and EVFTA.

Coconut has been recognised as one of Việt Nam's six key industrial crops (alongside coffee, rubber, tea, cashews, and pepper) under the Master Plan for Developing Key Industrial Crops by 2030.

There is a huge potential to produce electricity here not only for the needs of Việt Nam but also for the needs of surrounding countries in Southeast Asia, said EU Ambassador Julien Guerrier.

The country needs a comprehensive strategy that would involve inter-sectoral and interregional cooperation, promote innovation in production and foster a green, environmentally friendly economy with active participation from businesses, households, and individuals.

To building a green transport system, Vietnam will need nearly $14 billion to develop a network of charging stations, said insiders.

The PM said that it would require the participation of the entire political system, the engagement of people, businesses, and investors, and the support of international friends to develop the industry.

The total revenue of these 36 products reached nearly VNĐ50 trillion, with export turnover approximating $1 billion.

Together with the UK – Việt Nam Free Trade Agreement (UKVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will create new opportunities for companies and consumers in the UK and Việt Nam, affirmed British Ambassador to Viet Nam Iain Frew.

The signing ceremony, held on December 12, was attended by representatives from the State Capital Management Committee, the Ministry of Industry and Trade, EVN, and the EPC consortium.