Economy

This new business model offers numerous advantages for the parties involved. The market becomes more competitive and diversified, transaction costs are reduced, and providers have access to a wider consumer base and increased demand. Business opportunities based on digital foundation are multiplied, creating new jobs and increasing incomes, as well as promoting innovation. Filippo Bortoletti - Country director Dezan Shira & Associates Vietnam Vietnam is well positioned to exploit the growing opportunities in the sharing economy thanks to its well-educated, tech-savvy, and young population. Sharing economies in Vietnam are quite diverse; in recent years, sharing economies have developed in transportation, tourism, and hotels, and they are expected to expand in a variety of other industries as well. At the same time, many new technologies are being applied in the digital payments sector such as fingerprint authentication, facial recognition, and QR codes. Digital … [Read more...] about Sharing economy embracing 4.0 era

Prime Minister Pham Minh Chinh attends a ribbon cutting ceremony to open Green Economy Forum and Exhibition 2022. Prime Minister Pham Minh Chinh, Minister of Industry and Trade Nguyen Hong Dien, Minister of Natural Resources and Environment Tran Hong Ha, Minister of Agriculture and Rural Development Le Minh Hoan, Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai, representatives of EU members, diplomatic and trade promotion officials, international financial institutions, World Bank, more than 1,000 businesses who are members of EuroCham and Vietnamese enterprises attended the event. Prime Minister Pham Minh Chinh delivers a statement at the conference. Representatives of EuroCham said that the GEFE 2022 aimed at supporting Vietnam to meet the COO26 commitments and complete the development goals noted in the National Green Growth Strategy from 2021 through 2030. Experts, enterprises and policymakers from Europe, Vietnam and Southeast Asia will join in forums … [Read more...] about EU, Vietnam to promote sustainable development cooperation

Food offered at a kiosk on a food street (Photo: vntrip.vn) Alber, a German tourist, arrived at Ho Thi Ky food street in District 10 at the suggestion of a taxi driver while visiting HCMC. He said that this was one of his unique experiences in the city. Nguyen Tam, a kiosk owner on this street, said that seeing more and more foreign tourists to the food street, he added an English version of his menu for customers to choose dishes quickly, so that his kiosk can serve more and help popularize Vietnamese dishes. At present, HCMC’s districts have orientations to develop nightlife tourism and economy, including the opening of more food and pedestrian streets. Le Truong Hien Hoa, Deputy Director of the municipal Department of Tourism said that localities when building plans for such streets should consider their own unique and different factors to create a highlight and brand for each street. According to a plan submitted by the Department of Transport to the municipal People's … [Read more...] about HCMC develops food streets to attract tourists

Prime Minister Pham Minh Chinh (L) speaks at the meeting. The PM highly appreciated the city’s achievements during the post-Covid-19 economic recovery and acknowledged the obstacles and challenges which the southern economic hub is facing. Public investment disbursement is one of the weaknesses that have existed for many years. It needs a solution for handling to create a driving force to solve other problems. He noted the city needs to focus on Thu Duc Ci ty planning, a general plan and socioeconomic plan, public investment disbursement, three target programs, a recovery program and a middle-term public investment plan. He asked relevant ministries to solve the HCMC’s above-mentioned problems in the key works, including Tan Son Nhat International Airport's Terminal 3 , HCMC-Moc Bai expresswa y, Metro Line No. 1 and No.2. Besides, there is no reason to hesitate to allocate sufficient capital for the Ring Road No. 3 project to ensure the project to be put into … [Read more...] about Government accompanies HCMC to handle obstacles, boost city’s development

HDBank reduces interest rates by 0.5 percent - 3.5 percent per annum for customers who borrow money for production and business activities. (Photo: SGGP) Although deposit interest rates in the market remain hot, a few banks have suddenly cut lending rates to support enterprises that need capital for production and business activities, as well as for the preparation of goods for Tet in the last month of the year. After Vietcombank reduced the interest rate by 1 percent for business loans in Vietnamese dong from November 1, 2022, to December 31, 2022, on November 28, HDBank also announced an interest rate cut for more than 43,000 customers in various business sectors. Accordingly, from November 1 to December 31, 2022, this bank will lower lending interest rates by up to 3.5 percent per annum for individual and corporate customers in different sectors, with interest rate reductions totaling VND120 billion. Specifically, for individual customers, HDBank reduces interest rates for … [Read more...] about Banks slash lending interest rates by up to 3.5 percent per annum

Mindful of difficulties facing the city – the nation’s economic locomotive, PM Pham Minh Chinh affirmed that the Government always stands by the side of the city in accordance with its responsibilities, obligations, functions and duties. He asked Ho Chi Minh City to focus on promoting three growth drivers of consumption, public investment and export; encouraging start-ups and innovation; and developing and applying science and technology to become a role model for the whole country to follow. In the short term, attention should be paid to the planning work and disbursement of public investment, he stressed, urging the city to coordinate with ministries and sectors to address bottlenecks in the implementation of key projects. The Government leader also requested Ho Chi Minh City to promote digital and green transformation, develop circular economy, diversify products and supply chains, create more jobs for laborers, and well implement social welfare policies. The Government … [Read more...] about Ho Chi Minh City’s growth contributes importantly to ensuring nation’s major balances: PM

Congratulating Ms. Oh Young Ju on her appointment as the RoK's first female ambassador to Vietnam, General Phan Van Giang emphasized that over the past years, the Vietnam - RoK relations have maintained a stable and comprehensive development momentum. The two countries have become each other’s top and important partner, especially in the fields of economy, trade, and investment. In recent years, defense cooperation has been promoted by the two sides, achieving many positive results. In early September 2022, the 10th Vietnam - RoK Defense Policy Dialogue was successfully held in Korea. At the event, the two sides agreed on many cooperation contents to strengthen the bilateral defense relations in an intensive and practical manner, contributing to the overall relationship between Vietnam and the RoK. General Phan Van Giang hoped that during her term of office in Vietnam, Ambassador Oh Young Ju would pay attention to promoting cooperation between the two countries in general and … [Read more...] about Defense Minister receives newly-appointed RoK Ambassador to Vietnam

The index closed 34.23 points higher after gaining 23.75 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 64% to VND15.94 trillion ($642.74 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 23 tickers gain. Seven blue chips closed at ceiling price, including GAS of state-owned Petrovietnam Gas, TCB of the largest private lender Techcombank and HPG of steelmaker Hoa Phat Group with a 7% rise. Other notable gainers included MBB of lender MB and MWG of electronics retail chain Mobile World, both went up 6.2%. Five blue chips fell, including PDR of Phat Dat Real Estate Development with a 7% fall. Foreign investors were net buyers to the tune of VND1.68 trillion. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was up 3.70% while the UPCoM-Index at the Unlisted Public Companies Market was up by 2.37%. … [Read more...] about VN-Index surges to 3-week high

The ceremony comes within the framework of the Sustainable Development Conference on November 29, which is themed “ESG: the Key for Sustainable Development”. Many companies have been making great waves in ESG implementation in Vietnam The conference will provide a platform for exchanging practical experiences as well as evaluating the role of the business community in achieving Vietnam’s sustainability targets, while many businesses that have pioneered the application of environmental, social, and governance (ESG) principles to respond to global issues will be honoured. At the same time, VIR is preparing to launch a special publication titled Sustainable Development 2022, with the theme “Journey to Net Zero”. The publication, in both Vietnamese and English, will offer multidimensional perspectives and valuable insight into implementing sustainable business, effective ESG measures, and trends in investment, production, and trade in the era of digital technology and the … [Read more...] about VIR standing by businesses in sustainable development

HCM City – Ho Chi Minh City is focusing on developing food streets to attract more tourists and make them spend more during their stay in the city. Food offered at a kiosk on a food street (Photo: vntrip.vn) Alber, a German tourist, arrived at Ho Thi Ky food street in District 10 at the suggestion of a taxi driver while visiting Ho Chi Minh City. He said that this was one of his unique experiences in the city. Nguyen Tam, a kiosk owner on this street, said that seeing more and more foreign tourists to the food street, he added an English version of his menu for customers to choose dishes quickly, so that his kiosk can serve more and help popularise Vietnamese dishes. At present, Ho Chi Minh City’s districts have orientations to develop nightlife tourism and economy, including the opening of more food and pedestrian streets. Le Truong Hien Hoa, Deputy Director of the municipal Department of Tourism said that localities when building plans for such streets should … [Read more...] about Ho Chi Minh City develops food streets to attract tourists