Việt Nam News

The amount of imported hot-rolled coil steel in the first six months of this year increased sharply to an alarming level, 1.7 times higher than domestic production.

While a franchise is becoming a popular business model in the domestic and international food and beverage (F&B) sector, many businesses are still not interested in it as a business growth model.

Experts have proposed the Government issue a separate law for the consumer finance lending, entitled the Financial Consumer Protection Law, to help the sector develop healthily and sustainably.

The General Department of Taxation has sent an official dispatch to ask local tax departments to carry out comprehensive inspections of tax declarations and payments, as well as the use of e-invoices by organisations, individuals and business households operating on e-commerce platforms.

Domestically-produced components and mechanical products have so far met 80-90 per cent of local production needs in the motorbike industry, 15-40 per cent of the automobile industry and 40-60 per cent of the agricultural machine industry.

The State Bank of Việt Nam (SBV) this year removed the credit growth quota for foreign banks, but the policy remains for Vietnamese banks, due to concerns about rising bad debts, the security of the banking system and macroeconomic instability.

The AI race is gaining momentum as it is anticipated to bring about significant behavioural changes, not only for individuals but also for businesses.

Foreign investment in the first four months of this year reached an estimated US$6.28 billion, a five year high.

Contrary to expectations, each auction has seen gold prices surge rather than decline, fueling a buying frenzy among consumers.

The rescheduled auction, held on April 23, only managed to sell 3,400 taels, falling far short of the 16,800 taels on offer.

Due to limited new supply and high demand for real estate purchases, apartment prices are predicted to continue rising.

Although the gold price climbed to its peak in many consecutive sessions and set new records, the gold price continuously plummeted in the last two sessions of the week.

The Authority of Information Safety under the Ministry of Information and Communications has warned about the increase of cyberattacks in Việt Nam, especially ransomware in which cybercriminals seize and encrypt data, then ask for ransom payment.

Amid the rapid escalation of prices, industry experts emphasise the importance of proactive planning for businesses. They recommend establishing strong connections and developing raw material areas to ensure a stable supply of goods and create specific order plans.

Since 2014, no licences have been issued for gold imports for the production of gold bars, resulting in limited raw material supply.

To date, Vietnamese exported goods have been involved in 239 trade remedies investigations. Typically, products such as shrimp, tra fish, honey and aluminium have always coped with investigations, investigation warnings, lawsuits, and imposition of anti-subsidy taxes.

Việt Nam remained an exception in attracting Foreign Direct Investment (FDI) on the global and regional scale last year. The Southeast Asian economy was also expected to attract a large amount of FDI this year, said economists and analysts.