Business

“Impressive, methodical, and professional” were the words used by the media representative of the United Nations Development Programme (UNDP) in Vietnam after VIR was selected to jointly organise the forum “Finance and Governance Accelerators for a Just Energy Transition” in July. The forum was held during a visit to Vietnam by Kanni Wignaraja, UN assistant secretary general and UNDP regional director for Asia-Pacific. Despite her busy schedule, Wignaraja gave an important speech at the forum, highlighting Vietnam’s socioeconomic development achievements and committing that the UNDP will continue to support Vietnam’s transition to clean energy. The UNDP media representative said, “We highly appreciate the organisation of this forum by VIR. The newspaper’s prestige is increasing thanks to the strong transformation with new products, and everything has gone smoothly in terms of logistics, sound, lighting, and choice of hosts.” Many business associations and investors … [Read more...] about Lending a hand to progress for the business community

Hanoi (VNA) – The 2022 Zhejiang International Trade Exhibition and the 10th Zhejiang Export Fair , the largest and oldest expo independently held by China’s Zhejiang authority in ASEAN, will open at Hanoi’s International Convention Centre on September 28. The 4,000sqm expo will comprise 130 booths run by more than 100 exhibitors, displaying products in hardware and machinery, textiles and inputs, interior and exterior furniture, electronics and household appliances. Celebrating its 10th anniversary in Hanoi, the three-day event will feature various side events, such as a seminar on e-commerce from China’s perspective: lessons and practices; a symposium on international trade promotion in the era of the Fourth Industrial Revolution, and a Vietnam -China business matching model in the new context; and a bicycle test tour. Launched in 2011, the expo has been a platform not only for product exhibition and promotion but also for Vietnam and China to strengthen economic … [Read more...] about Zhejiang Int’l Trade Exhibition, Export Fair to take place in Hanoi

ADB Country Director Andrew Jeffries (Photo: VNA) Hanoi (VNA) – ADB Country Director Andrew Jeffries has talked to the Vietnam News Agency on the recent interest rate hike by the State Bank of Vietnam in the context of the Fed, ECB and a number of countries raising their rates to curb inflation. “Another significant achievement in economic policy in Vietnam has been maintaining macro-economic stability,” Jeffries said. According to him, through the pandemic and also through the economic shocks of this year, including global inflation, fallout from the conflict in Ukraine and recession risks, Vietnam was successful in controlling inflation this year, despite enormous pressure from energy, commodity price surges from world economy. He went on to say that monetary policy measures taken by the government have greatly contributed to this success, keeping money supply and credit under control, dealing with pressure for a stable exchange rate while supporting business access to … [Read more...] about State Bank’ rate hike necessary to defend VN dong, control inflation: ADB Country Director

Top 10 reputable companies in the food-beverage sector in Vietnam in 2022 (Photo: Vietnam Report) Hanoi (VNA) – Vietnam Report JSC has announced the top 10 reputable companies in the food-beverage sector in Vietnam in 2022. They are Vietnam Dairy Products Joint Stock Company (Vinamilk), Frieslandcampina Vietnam, International Dairy Products (IDP) JSC, NutiFood Nutrition Food JSC, VitaDairy Vietnam JSC, Moc Chau Dairy Cattle Corporation JSC, KIDO Group Corporation (KIDO), Mead Johnson Nutrition Vietnam, Nutricare Nutritrion JSC, and Zott Vietnam JSC. Meanwhile, the top companies in the field of sugar confectionery and food include Nestlé Vietnam Co., Ltd., Orion Food Vina Co., Ltd., Mondelez Kinh Do Vietnam JSC, Herbalife Vietnam Single Member Limited Liability Company, Quang Ngai Sugar JSC, Thanh Thanh Cong-Bien Hoa JSC, Bibica JSC, Hoang Mai P&T Co, Ltd., Perfetti Van Melle Vietnam Ltd., and Huu Nghi Food JSC. The selection was based on the firms’ financial capacity, … [Read more...] about Top 10 reputable F&B firms in 2022 announced

Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu speaks at the Q3 press conference. (Photo: VNA) Hanoi (VNA) – As of September 16, credit grew 10.47% against the end of 2021 and 17.19% against the same period last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu. He revealed the figures at a routine press conference for the third quarter of 2022 recently held in Hanoi. The majority of the credit was poured into business and production and priority areas in an effort to revive the economy hard hit by the COVID-19 pandemic. The SBV aims to maintain credit growth at around 14% to support the economic recovery but it will not lower guard against inflationary risks, Tu said, adding that the central bank has requested lenders to give priority to borrowers in business and production, and limit the credit into high-risk sectors, providing a sustainable engine for growth. Tu held that the bank will continue keeping a … [Read more...] about Credit growth stands at nearly 10.5% as of mid-Sept

Bac Ninh 's industrial production index surges 13%. - Illustrative image (Photo: VNA ) Bac Ninh (VNA) – The northern province of Bac Ninh recorded growth of 10.04% in gross regional domestic product ( GRDP ) in the first three quarters of 2022, hitting an estimated 105.13 trillion VND (443 billion USD), thanks to rapid recovery of service and trade sectors after the COVID-19 pandemic. Chairwoman of the provincial People’s Committee Nguyen Huong Giang said local authorities have concentrated on implementing synchronous solutions to effectively implement key tasks and make great progress in socio-economic development . Industry - construction increased by 10.9%, service 9.6%, product tax collection 3.2%), and agriculture - forestry - fisheries 0.2%, accounting for 77.4%; 16.4%; 3.8% and 2.4% of the GRDP growth , respectively. The province’s industrial production index surged 13%, while its retail and consumer service revenue and foreign direct investment (FDI) … [Read more...] about Bac Ninh posts 10.4% economic growth in 9 months

Hanoi is striving to fulfill its economic goals for the fourth quarter of the year and the entire 2021, which would lay as a basis for growth in 2022 and the following years. (Photo: VNA) Hanoi (VNA) – Sixty-seven years ago, the capital city of Hanoi was liberated from the French colonial rule on October 10. So this month has a special meaning to the Hanoians and is always a time for the city to look back at what it has done in the past and embrace the future. locomotive of the national economy. Hanoi became the economic pillar of the north, providing food supplies and reinforcements to the southern battle fields. After the country gained independence in 1975, the city continued to be a hub for economic reconstruction and development as well as social and cultural affairs. It has seen robust economic growth since then, with significant improvement of people’s living standards. economy , with a number of sectors, particularly transport, trade, services, and hospitality … [Read more...] about Hanoi affirms status as nation’s economic locomotive

Illustrative image (Source: VNA) Hanoi (VNA) – Hanoi, over the years, has been one of the leading localities in foreign direct investment (FDI) attraction thanks to the city’s efforts to accompany with and support investors. Statistics from the Hanoi Statistics Office, in September, the capital city granted licences to three FDI projects worth 5.3 million USD, pushing the total FDI value in the city in the first nine months to 927 million USD, including 162.6 million USD on 246 new projects and 492.4 million USD added to 93 underway ones. According to the municipal Department of Planning and Investment, COVID-19 has posed adverse impacts on foreign investment in Hanoi , causing a drop in the number of capital. Meanwhile, difficulties have been seen in the transport of goods from other countries to Vietnam, while many businesses in industrial parks and clusters have faced obstacles in carrying labourers from their residence to workplace or applying the “three-on-site” … [Read more...] about Hanoi accompanies investors

Main offices of companies working as illegal stations for unlicensed coaches always have a valid permit for tourist transport by car. With this permit at hand, employees of these companies can explain that the site is the place for tourism consultation, trip booking, tourist picking up and dropping off, passenger or goods transport under a contract. The third type of illegal stations on streets is born by taking advantage of the policy to allow vehicle parking on odd or even days of certain streets, or paid-parking sections of streets in HCMC. This is rather popular along national highways, in front of famous tourist areas, or even inside residential areas in order to pick up and drop off regular passengers. The appearance of unlicensed coaches, especially around formal coach stations, dated back to the beginning of 2000s, when passenger transport activities on fixed routes were still exclusive to assigned transport units. Since 2002, this exclusiveness has been eliminated, yet … [Read more...] about HCMC witnessing troublesome blooming of unlicensed coaches

At the meeting The Ho Chi Minh City National Assembly Delegation yesterday held a survey on the implementation of the Law on Supporting Small and Medium Enterprises in HCMC from January 1, 2018, to June 30, 2022. According to the Department of Planning and Investment, as of June 30, 2022, the southern largest city had 264,407 small and medium enterprises, accounting for 97.5 percent of the enterprises in the city. The number of newly established small and medium enterprises in this period was more than 184,000, but more than 128,000 firms were also temporarily dissolving at the same time accounting for nearly 70 percent. The industries with the largest number of newly registered enterprises include wholesale, retail, repair of cars and motorcycles (accounting for 37.2 percent), science and technology, consulting services, design, advertising, and other expertise. The Department of Planning and Investment assessed that several policies such as the price stabilization program, … [Read more...] about Over half of SMEs don’t know law to support SMEs