Việt Nam News

BUSINESS BEAT

With many craft villages and a huge amount of products qualified for the One Commune One Product (OCOP) programme, Hà Nội has many strengths in rural economic development.

With industrial production recovering month after month HCM City enterprises are confidently resuming investment and restoring production, especially of key industrial products, according to the city Department of Industry and Trade.

In the first quarter, Lộc Trời Group’s net revenue jumped by over VNĐ1.66 trillion with businesses of crop protection products contributing the most to the gain.

Việt Nam’s stock market is expected to continue to grow, helped by strong economic growth and increasing local liquidity. The positive outlook will attract foreign investors back to the market, according to HSBC.

Vietnamese stocks are forecast to stay on a downward trend this week due to caution among investors and accelerated selling pressure from foreigners, analysts said.

The vietnam-briefing.com published by Dezan Shira & Associates - a consultancy firm on foreign investment in Asia has run an article, emphasising that since the EU-Việt Nam Free Trade Agreement (EVFTA) took effect in August 2020, Belgium has played a significant role in promoting trade and foreign investments into Việt Nam.

The report surveyed more than 700 businesses with international supply chains.

Bamboo Airways is finalising preparations to operate regular direct flights from HCM City to San Francisco and Los Angeles of the US, starting September 1, 2021.

The second annual SK Startup Fellowship Programme has announced a short list of the top 13 start-ups that will compete in the final round.

The State Treasury raised more than VNĐ26.3 trillion (over US$1.14 billion) worth of Government bonds (G-bonds) via 16 auctions on the Hà Nội Stock Exchange (HNX) in April.

Fusion Hotels & Resorts, one of Việt Nam’s most recognised domestic hotel brands and management companies, has acquired Glow Hotels & Resorts.

VPBank recorded pre-tax profit of more than VNĐ4 trillion (US$173.2 million) in the first quarter of the year, an increase of 38 per cent over the same period last year.

The COVID-19 pandemic has sped up the process of digital transformation in businesses, experts said, and has urged companies to consider their own resources and conditions to ensure and increase efficiency.

The number of spam messages and calls have dropped since government issued new regulations, but more unwanted communications are being seen.

Local credit institutions are enjoying a rise in bancassurance activities with more exclusive deals coming, according to industry insiders.

IPOs (Initial Public Offering) or being listed on foreign markets not only helps Vietnamese companies attract investments, but also strengthens their positions and the country’s position in the world. 

Việt Nam will record positive economic growth in 2021, at about 6-7 per cent, if the country continues to support vulnerable groups in the economy and carries on its vaccination campaign, said Jonathan Ostry, Deputy Director of the Asia and Pacific Department of the International Monetary Fund (IMF).