Việt Nam News

The State Bank of Vietnam last week cut its policy rates for the third time this year to prop up economic growth. Accordingly, the bank cut its refinance rates from 5.5 to 5.0 per cent and its overnight electronic interbank rate from 6.0 to 5.5 per cent.

Airports in Việt Nam served up to 45.5 million passengers in the first five months of this year, an increase of 37.8 per cent compared to the same period last year, according to the Civil Aviation Authority of Việt Nam (CAAV).

Deputy Prime Minister Lê Minh Khái has just signed a decision approving the Strategy on Development of Việt Nam's Rice Export Markets until 2030, which aims to develop and diversify rice export markets with a reasonable, stable, and effective scale, market and product structure.

Việt Nam's total imports and exports stood at US$230.6 billion by mid-May, down 15.4 per cent against the same period in 2022.

China has approved another 47 farming area codes and 18 packaging facility codes for importing durian from Việt Nam, according to the Ministry of Agriculture and Rural Development.

Its main export markets are China, EU, the US, Australia, Japan, Korea, some countries in Southeast Asia and the Middle East.

Vietnamese banks are among the earliest in the world to make the digital transformation, experts have said.

Foreign investments were poured into 50 out of the 63 cities and provinces, of which Hà Nội received the most, with about $1.87 billion, accounting for about 17.2 per cent of the sum.

The stock market is still consolidating above the support level of 1,060 points. If the level is held and liquidity remains positive, the benchmark VN-Index is likely to head towards 1,080 points.

These awards were granted by the Vietnam Automation Association and the Innovation and Digital Transformation Institute under the Vietnam Union of Science and Technology Associations for the second time.

During the event, more than 20 Vietnamese enterprises engaged in nearly 40 trade deals, successfully identifying suitable Korean suppliers.

The country has been buying from China since 2005 and from Laos, mostly hydroelectricity, following an intergovernmental cooperation agreement in 2019.

California Fitness & Yoga on Thursday announced a US$25 million commitment to Việt Nam, with the investment earmarked for the renovation of multiple clubs, the continued upgrade and innovation of products and services and for the renewal of leases in prime locations in Hà Nội and HCM City.

Nestlé Vietnam has launched NAN Optipro Plus 4 formula products containing five human milk oligosaccharides (HMOs), a probiotic known as Bifidobacteria and Optipro protein, which the company says support children’s digestion and strengthen immune systems.

A series of events and activities will be held under the 2023 Cashless Day to promote the adoption of non-cash payment and contribute to achieving the Government’s plans to drive Việt Nam towards a cashless society.

The freezing of the Chinese real estate market, falling prices of rebars in China, Việt Nam’s EVN raising electricity prices, and the State Bank lowering interest rates for the third time will all impact the resilience of businesses in the steel industry in the short term.

Investors who plan to participate in Việt Nam's social housing market in the future should balance selling price, construction quality and sustainability factors to succeed in the market, experts said.

The Ministry of Planning and Investment (MPI) is working on the design of incentives and measures to support new investment activities amid the upcoming application of the global minimum tax.