Rubber stamp business

Foreign investors poured nearly US$1.7 billion into Vietnam as of January 20. In the first month of 2023, newly-registered capital is estimated to have increased 3.1 times over the same period last year, showing that foreign investors still maintain confidence in Vietnam's investment environment. Hanoi ranks among the top localities in foreign direct investment (FDI) in 2022. Photo: Thang Long Industrial Park The Foreign Investment Agency under the Ministry of Planning and Investment reported that there were 801 newly-registered projects totaling $1.2 billion and 89 projects increasing capital with a combined amount of $306.3 million. In addition, 204 transactions of share purchases by foreign investors were worth $174 million, representing a year-on-year decline of 60.7%. Meanwhile, the disbursement of foreign investments dropped by 16.3% to $1.35 billion. The agency attributed the decrease in registered and disbursed FDI to the national holiday (the … [Read more...] about Foreign investors remain confident about Vietnam’s business environment

The company also presented funds to help 63 households in the communes to transform their coffee gardens. This was an activity within the "National target program on socio-economic development - model of soldiers associated with people in ethnic minority and mountainous areas in the period 2021- 2025” component project. Over the past years, Coffee 15 One Member Co., Ltd. has helped hundreds of poor households in the project areas of the two defense-economic zones transform their old coffee gardens, reclaim land for wet rice, fruit trees, and medicinal herbs to increase income, thus reaching sustainable poverty reduction target. Below are photos of Coffee 15 One member Co., Ltd. helping local people develop domestic economy. Translated by Song Anh … [Read more...] about Military business assists locals in economic development

Vietnam remains an attractive destination for foreign investors (Photo: VNA) Hanoi (VNA) - According to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), Vietnam is likely to attract 36-38 billion USD in foreign direct investment (FDI) in 2023. The figure was nearly 22.4 billion USD in 2022. Deputy Director of the FIA Do Van Su said disbursement of foreign investment this year is expected to hit 22-23 billion USD,. Su acknowledged that the opening of China’s economy might affect Vietnam's foreign investment attraction, adding that China remained the leading investment destination in the region, so when they opened up, capital will flow into this market while that to Vietnam and other economies in the region will be limited. On the contrary, the investment capital movement of the Republic of Korea (RoK) , Japan, and Taiwan (China) will be accelerated. This shift will be accelerated until 2025, and Vietnam will be a preferred investment … [Read more...] about Vietnam’s FDI projected to reap up to 38 bln USD in 2023

Decreasing demand for apartments in the region is also forecast to continue through at least the middle of the year. But it may begin to gradually rise by the last quarter of 2023 as legal bottlenecks and obstacles to credit are slated to be at least partially removed by the government, according to DKRA real estate consultants. DKRA Vietnam deputy R&D director Vo Hong Thang said apartment market liquidity, this year, would concentrate in affordable housing projects with prices of below VND50 million ($2,118) per square meter in HCMC and less than VND35 million per square meter in Binh Duong. Such social housing projects promise to be a ray of light in the otherwise gloomy 2023 market, he said, while adding the caveat that supply would still be limited. According to Thang, businesses are gradually supplying fewer high-priced homes and more affordable apartments and social housing units this year. He said this trend may last until 2025, with new supply focusing on the city’s … [Read more...] about Apartment market to continue slumping this year

January’s CPI increases 0.52% due to high Tet demand (Photo: VNA) Hanoi (VNA) – Vietnam ’s consumer price index ( CPI ) in January edged up by 0.52 % month-on-month, fueled by high consumer demand for the Lunar New Year or Tet which fell in the same month, the General Statistics Office said on January 29. In addition, the prices of goods, food and foodstuffs went up during the final lunar month to prepare for the longest annual holiday and domestic fuel prices rose to global levels, contributing to the rise of the index. This month’s CPI increased by 4.89 % year-on-year, while the core inflation in January inched up 5.21%. Among the 11 main commodity groups, nine marked a month-on-month increase in prices, and the rest registered a decline. Transport services reported the highest rise of 1.39 %, followed by beverage and cigarette with 1.12%. The prices of catering, other goods and services, apparel, footwear and hat, gold prices, restaurant services, … [Read more...] about January’s CPI increases 0.52% due to high Tet demand

A showroom displays and sells products under the country’s One Commune-One Product (OCOP) programme and other products in the Cuu Long (Mekong) Delta province of Tra Vinh. (Photo: VNA) HCM City (VNS/VNA) - The Cuu Long (Mekong) Delta’s 12 provinces and the city of Can Tho are developing more products under the country’s “One Commune-One Product” programme. Launched in 2018, the OCOP programme focuses on developing specialty products and high-quality products in rural areas to increase incomes for locals and boost the sustainability of economic development in rural areas. OCOP products are commercial products and services such as food and beverages, handicrafts and rural tourism services. They are classified as having one to five stars. Under the programme, the Cuu Long delta, which is the country’s largest rice, seafood and fruit producer, has developed more OCOP products and increased their value. Can Tho recognised 18 new OCOP products last year, including 10 three-star … [Read more...] about Mekong Delta develops more OCOP products

Viettel is the only Vietnamese brand in the latest Brand Finance Global 500 rankings. (Source: baochinhphu.vn) Hanoi (VNA) – Viettel is the most valuable telecoms brand in Southeast Asia and the 17th in the world, according to the latest Brand Finance Global 500. At the 234th position globally, Viettel is the only brand of Vietnam and the only telecoms one of Southeast Asia listed in the 2023 rankings. Meanwhile, e-commerce company Amazon surpassed Apple to become the world’s most valuable though its brand value fell about 15% to 299.3 billion USD this year from 350.3 billion USD in 2022. Apple dropped to the second place as its brand value declined 16% to 297.5 billion USD. Brand Finance , founded in 1996, is the world's leading brand valuation consultancy present in 20 countries and territories./. VNA … [Read more...] about Viettel named most valuable telecoms brand in Southeast Asia

DHG Pharma reported a profit of VND988 billion (US$42.1 million), a 27% increase from 2021 and 29% higher than the management’s target. It is the highest profit it has reported since it started making its accounts public in 2005. OPC and Imexpharm also earned record profits. OPC’s profits increased by 16% from 2021 to over VND140 billion, and Imexpharm’s by 24% to VND230 billion. High demand for healthcare products following the pandemic was the main reason for the soaring profits. A Vietnam Report survey in October-November found that around 90% of businesses that manufacture, distribute and sell pharmaceutical products reported higher revenues and around 80% reported profit growth in the first nine months of 2022. Besides, they also benefited from government policies to support drug retailers and modern drugstores. … [Read more...] about Pharma firms see profits soar post-Covid

Vietnam ’s total retail sales of goods and services in January is estimated at 544.8 trillion VND (23.22 billion USD), up 5.2% from the previous month and 20% as compared with the same period last year. (Photo: VNA) Hanoi (VNA) – Vietnam’s total retail sales of goods and services in January was estimated at 544.8 trillion VND (23.22 billion USD), up 5.2% from the previous month and 20% as compared with the same period last year, according to the General Statistics Office (GSO). The office explained that the hike was attributed to the growing consumption demand as Tet ( Lunar New Year ), the biggest and longest festival in the Southeast Asian nation, fell in the month. Of the total, the retail sales of goods were 435.4 trillion VND, a year-on-year rise of 18.1%, with the biggest increase seen in garments (27%). The revenue from lodging and catering services reached 56 trillion VND, representing a year-on-year rise 37.3%. Notably, tourism raked in 2.2 trillion VND, a … [Read more...] about Retail sales of goods, services up 20% in January

The Republic of Korea (RoK) topped the list of countries and territories with most foreign visitors to Vietnam in January 2023, the General Statistics Office of Vietnam (GSO) announced on January 29. Located in central Vietnam, UNESCO-recognised Hoi An is one of the major tourist attractions for Korean visitors. (Photo: travelelog.com) According to data released the GSO, Vietnam welcomed 258,000 Korean arrivals in January, representing a 13-fold increase month on month and a 72fold increase year on year. The RoK was followed by the United States (nearly 78,000 arrivals), Thailand (55,000), Australia (44,225) and Malaysia (37,267). Besides, Japan, Cambodia, Singapore, Taiwan (China) and the United Kingdom were all countries and territories with large numbers of tourists to Vietnam in the first month of 2023. The GSO reported Vietnam attracted 871,200 foreign arrivals in January 2023, an increase of 23.2% over the previous month and 44.2 times higher than the … [Read more...] about RoK tops list of countries with most foreign visitors to Vietnam