Vietnam News Economy

Việt Nam's insurance sector boosts support after Typhoon No. 3, with damages and payouts exceeding VNĐ9 trillion (US$360.5 million).

The master plan for Hưng Yên’s development until 2030, approved by the Prime Minister, aims to transform the province into a modern industrial hub, with a leading economy and development level in the country.

HCM City will expand the Cooperation Programme on Goods Quality Control to ensure that all products sold by all retailers meet the highest quality and safety standards and have a “Responsible Green Tick" label, according to its Department of Industry and Trade.

The Ministry of Construction has proposed tax to be imposed on owners of more than one real estate property in an effort to prevent speculation, according to the ministry’s recent report to the Government Office about real estate prices.

The Ministry of Industry and Trade has set up cooperation mechanisms with Chinese localities and free trade agreements to strengthen economic ties between the two dynamic economies.

The Ministry of Finance has proposed reductions of land rental fees by up to 30 per cent in 2024 which will help businesses to save around VNĐ4 trillion (US$162.57 million).

The southern province of Bình Dương has awarded investment registration certificates for eight projects exceeding over US$1.8 billion, mostly in the fields of real estate, industrial production, and logistics.

Bắc Giang province is driving efforts to support digital transformation within its enterprises, according to Mai Sơn, Vice Chairman of the provincial People’s Committee.

The clusters will be based in Vĩnh Thạnh District and Quy Nhơn City.

Việt Nam is among the countries with great potential to invest in new renewable energy sources. Under the National Power Development Plan VIII, renewable energy will account for about two-thirds of total capacity by 2045. To achieve this goal, there must be specific, feasible mechanisms and solutions in place to mobilise a huge amount of investment capital.

There were more than 13,100 job vacancies in four key industries that needed to be filled in this period.

Đồng Nai is calling for investments in three social housing projects in 2024 as part of an effort to to develop 12 social housing projects with a total of more than 13,000 apartment units for low-income earners and workers by 2025.

The event, which will gather over 380 exhibitors from 12 countries and territories around the world, will feature the latest technological advancements in fabrics, yarns and accessories.

DKSH’s Business Unit Performance Materials, a leading distributor of specialty chemicals and ingredients, has launched two upgraded innovation centres for food & beverage and personal care ingredients in HCM City.

Prime Minister Phạm Minh Chính on Sunday hosted separate receptions for leaders of big foreign groups as part of his trip to the northern province of Bắc Ninh.

To date, 32 out of 40 commercial banks have registered to provide a total of VNĐ405 trillion (US$16.43 billion) in preferential loans with rates up to two per centage points lower to support customers who were affected by the Typhoon Yagi, Governor of the State Bank of Việt Nam Nguyễn Thị Hồng said.

In 2023, Vietnamese companies reinsured only VNĐ6 trillion of domestic reinsurance premiums, while they had to transfer VNĐ22 trillion of the premiums to foreign reinsurance companies.

Positive developments are underway in the real estate market, yet prior setbacks are impeding the recovery progress of businesses, particularly concerning bonds.

There are many optimistic signals, and the market will get a lot of interest from investors who expect the Fed's decision to have a positive impact on the global stock market, including Việt Nam.

Although frozen durian products boast huge export potential, enterprises face some major challenges in food safety requirements, packaging and origin traceability.