Saigon Times Podcasts: Recent Episodes
The Saigon Times
The Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After more than two decades of development, the group has built a good reputation through four groups of publications about the economy, business, and markets in Vietnamese and one group of English publications for foreign readers.
Vietnamese Deputy Prime Minister Tran Hong Ha has said that Vietnam and China should step up cooperation in cross-border infrastructure projects.
Fresh foreign-investment approvals in Vietnam in the year to February 20 had reached more than US$4.29 billion, up by 38.6% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Germany’s Siemens has shown interest in contributing to Vietnam’s transportation infrastructure, particularly in the high-speed railway sector.
Vietnam’s shrimp exports are forecast to rebound and rise by 10-15% year-on-year, with revenue reaching US$4 billion, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The Management Authority for Urban Railways (MAUR) has started work on Metro Line No. 2, which will connect Ben Thanh Market in District 1 and Tham Luong Depot in District 12.
Four factories in Vietnam of the South Korean conglomerate Samsung contributed around one-third to its global profits last year, the local media reported.
The demand for loans in HCMC has remained woefully low, with total outstanding loans declining in the year to date.
Brazil has announced the suspension of tilapia imports from Vietnam, effective from February 14, due to concerns over the TiLV virus.
The Airports Corporation of Vietnam (ACV) is inviting tenders for some key contract packages of the Long Thanh International Airport project.
The Ministry of Transport is seeking the Government’s approval to upgrade three national highways in the Mekong Delta region.
Vietnam is weighing extending a unilateral visa waiver to more countries, especially those having upgraded ties with the nation.
Vietnam’s exports reached nearly US$33.6 billion in January this year, up 42% over the same period in 2023, the highest monthly level since April 2022.
Following the Tet holiday, businesses in Binh Duong Province have great demand for hiring, with around 60,000 jobs available across various sectors, according to the Binh Duong Department of Labor, Invalids, and Social Affairs.
Work on the Long Thanh-Ben Luc Expressway, connecting Dong Nai and Long An provinces, is set to be completed by late 2025 after a restart in 2023 following a four-year suspension.
The Ministry of Transport has announced the caps on domestic air ticket prices will increase by VND50,000 to VND250,000 per ticket compared to the current levels.
Prime Minister Pham Minh Chinh has called for intensified efforts to expedite the construction of Terminal T3 at Tan Son Nhat International Airport in HCMC so that it can be inaugurated in time for the 50th anniversary of the liberation of southern Vietnam in late April 2025.
FiinGroup has forecast that around VND120 trillion worth of real estate bonds will fall due this year, the highest level in five years, exerting significant pressure on property firms.
Vietnam-China trade through the Kim Thanh II international border gate in the northern province of Lao Cai has remained steady despite the Lunar New Year holiday, with 801 tons of goods crossing on February 10.
The State Bank of Vietnam (SBV) has made clear that its recently issued Circular 22 imposes no restrictions on lending to those buying homes that will be constructed in the future.
A new air route connecting Danang, a central coastal city in Vietnam, and Cheongju in South Korea has been launched, providing greater connectivity between the two regions and promoting tourism development for both countries.
The National Payment Corporation of Vietnam (NAPAS) recorded a surge of over 50% in digital money transfer transactions in January compared to the same period last year, signaling a significant shift in consumer behavior towards non-cash payment methods.
Construction of two sections of Beltway No. 2 is scheduled to begin in December this year when Thu Duc City completes compensation, resettlement support, and the handover of over 70% of cleared land.
Foreign investors pledged more than US$2.36 billion in their projects in Vietnam in the first month of 2024, a 40.2% increase compared to the same period last year.
The government of HCMC has set an ambitious target to achieve a gross regional domestic product (GRDP) growth rate of at least 6.5% in the first quarter of 2024, the highest level since 2020.
Vietnam has the high possibility of securing a major rice export contract after an Indonesian auction.
As the Lunar New Year, or Tet, approaches, major supermarket chains across the country have announced to extend their operating hours to meet the rising shopping demand in the lead up to the national holiday.
The consumer price index (CPI) in January has risen by 3.37% over the same period last year, with core inflation increasing by 2.72%, according to the General Statistics Office.
The Ministry of Transport has announced that the renovation of three national highways in the Mekong Delta will commence within this year.
Vietnam Railway Authority is working with its Chinese counterpart to create a standard gauge rail link between the two nations in Lao Cai Province. The project is scheduled for implementation in 2025.
HCMC received an impressive US$9.5 billion in remittances from abroad last year, beating the estimate by around US$500 million, according to Nguyen Duc Lenh, deputy director of the State Bank of Vietnam (SBV)’s HCMC branch.
The construction of a section of the HCMC Beltway No. 2, stretching from Pham Van Dong Avenue to Go Dua intersection, could not be completed as scheduled for last year, so it has been rescheduled to 2026.
The U.S. has expressed interest in cooperating with Vietnam in renewable energy and semiconductor chip production.
The Ministry of Education and Training has introduced a program for foreigners who are interested in teaching English at foreign language centers in Vietnam.
The HCMC government has released a list of 28 projects which will be introduced at a conference on green growth slated for January 24.
The Ministry of Planning and Investment has called on South Korean tech giant Samsung to support Vietnam to improve the capabilities of domestic businesses, especially those in the semiconductor industry.
Prime Minister Pham Minh Chinh has reiterated Vietnam’s commitment to facilitating Hungarian goods’ access to the Vietnamese and ASEAN markets.
Hyosung Group, a South Korean conglomerate known for its expertise in electrical transformer manufacturing, is planning to inject an additional investment of US$2 billion into Vietnam this year.
Three State-run banks – BIDV, VietinBank and Agribank – further cut deposit rates by 20 to 40 basis points on January 17.
Total outstanding loans in the economy are expected to rise by 4.4% in the first quarter of this year, signaling a departure from earlier forecasts, according to the State Bank of Vietnam’s Department of Forecasting and Statistics.
HCMC was the frontrunner among all Vietnamese localities in foreign direct investment (FDI) attraction last year, with US$5.85 billion registered in the city.
The inventory-to-sales ratio in the processing and manufacturing industry surged to 87.5% in 2023, up from 78.1% in the previous year, according to the Ministry of Industry and Trade.
The General Statistics Office (GSO) has projected that 162,500 new businesses will enter the market this year, up by 2% compared to the previous year.
Vietnam set a new record in rice exports in 2023, with over 8.1 million tons valued at US$4.7 billion, yet the results still undershot the target set by the Ministry of Agriculture and Rural Development.
Vietnam put its 2023 foreign trade at over US$681 billion, 6.9% lower than in the previous year, according to the General Statistics Office.
The Ministry of Finance in Vietnam has proposed a 5% value-added tax (VAT) for fertilizers, a departure from the current tax-exempt status outlined in the Value-Added Tax Law.
Standard Chartered Bank has projected Vietnam’s GDP growth at 6.7% this year following a 5.05% expansion in 2023.
The Government has urged commercial banks to make things easier for residents and businesses to take out loans.
With a 15% credit growth target set for 2024, an additional VND2 quadrillion will be injected into the economy this year, said a leader of the State Bank of Vietnam (SBV) at a press conference on January 5.
The Department for Roads of Vietnam has written to the Ministry of Transport proposing revising up the speed limit on nine expressways to 90 kilometers per hour from the current 80, but for certain types of vehicle.
In response to the high travel demand before and after the Tet holiday, the railway sector in Vietnam has made an additional 7,000 tickets available for routes connecting HCMC to central and northern provinces during the time for family reunion.
The Vietnam Expressway Development Investment Corporation (VEC) has announced plans to adjust up tolls on four expressways under its management, starting next month.
More than 22,140 home ownership certificates were issued to residents in HCMC last year, according to the HCMC Department of Natural Resources and Environment.
Vietnamese workers last year enjoyed a 6.9% increase in their monthly income to VND7.1 million compared to the previous year, according to a report by the General Statistics Office.
Vietnam’s public debt in 2023 amounted to VND3.8 quadrillion, equivalent to 37% of gross domestic product (GDP), according to the Ministry of Finance.
A foreign direct investment (FDI) enterprise in the Mekong Delta province of Long An has announced an astonishing VND5.68 billion bonus for an individual for the upcoming Lunar New Year. This bonus stands as the highest among businesses across the country, according to the Ministry of Labor, Invalids, and Social Affairs.
Fresh foreign-investment approvals in Vietnam in the year to December 20 had amounted to US$36.6 billion, up by 32.1% year-on-year, according to the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment.
Vietnam’s gross domestic product (GDP) has expanded by 5.05% this year, below the 6.5% target due to ongoing local and global economic challenges, the General Statistics Office (GSO) reported.
State budget revenue this year had reached VND1.7 quadrillion as of December 25, beating the initial estimate by 4.5%.
The passenger terminal of Long Thanh International Airport in Dong Nai Province will be completed by the end of 2026 as planned, according to the Airports Corporation of Vietnam (ACV).
The local gold market became volatile on December 26, makingbuyers stressful, as SJC gold dropped by a staggering VND2 million per tael.
The World Bank has written to the chairman of Khanh Hoa Province announcing its cancellation of US$10 million in funding for sustainable environment projects in the south-central province.
Prime Minister Pham Minh Chinh has written to three government ministers telling them to strengthen credit growth management in a way that helps fuel economic growth.
The National Assembly Steering Committee plans to start discussions on the draft of the revised VAT Law at the next session of the NA in the middle of next year.
FPT Corporation has inked several agreements on digital transformation with Japanese firms during the Vietnam-Japan Economic Forum 2023, which recently took place in Tokyo.
German companies have expressed keen interest in investing in Vietnam, particularly in agriculture, food, and renewable energy such as solar and wind power, according to the German Business Association in Vietnam (GBA).
Le Duy Minh, director of the HCMC Department of Finance, has been arrested on alleged charges of accepting bribes in connection with the Xuyen Viet Oil case, said Lieutenant General To An Xo, spokesperson for the Ministry of Public Security (MPS).
The well-known Vietnamese rice variety ST25, which has just been recognized as the world’s finest rice by the Rice Trade organization, is now eligible for a preferential tariff for export to the European Union (EU).
Japan has just signed the fourth agreement with Vietnam to provide an additional VND7 trillion in official development assistance (ODA) for HCMC’s first metro line that connects Ben Thanh Market and Suoi Tien Theme Park.
Work on two rest areas on Vinh Hao-Phan Thiet Expressway is scheduled to commence in the first quarter of 2024 and to be completed in the first quarter in the following year.
The Mekong Delta province of Long An is actively seeking investments from South Korean businesses, particularly in high-tech industries and vocational training.
State budget revenue in the year to end-November had declined by 7.1% over the same period last year, according to the Ministry of Finance.
Vietjet Air has announced to launch a direct service connecting Hanoi, the capital city of Vietnam, and Siem Reap in Cambodia.
HCMC will allocate VND4.54 trillion for construction of another section of the 64-km Eastern Beltway No. 2 as recently approved by the HCMC People’s Council.
Vietnam and Thailand have pledged to strengthen economic cooperation, with a mutual objective of increasing their two-way trade to US$25 billion.
Two shipments of Vietnamese durian at 1.4 tons and chili at four tons sent to Japan have been discarded due to chemical residues.
Prime Minister Pham Minh Chinh has urged relevant agencies to conduct a feasibility study on the construction of an additional international airport in the southern Red River region in northern Vietnam.
China’s Party General Secretary and President Xi Jinping and his wife are scheduled to pay a state visit to Vietnam on December 12 and 13 to bolster ties between the two neighboring countries.
Tax authorities had refunded VND127,783 billion worth of value-added tax by the end of November, achieving 68.7% of the estimate for tax refunds this year.
The government of HCMC has set a target to achieve an annual gross regional domestic product (GRDP) growth rate of 7.5% to 8% in 2024.
India’s Directorate General of Trade Remedies (DGTR) has taken the first step in conducting a sunset review of countervailing duties on stainless steel welded pipes imported from Vietnam.
Vietnam’s import and export value amounted to US$619.2 billion in January-November this year, up by 8.3% against the same period last year, showed data of the General Statistics Office.
Vietnam has attracted 1.23 million foreign tourists this month, up by 11% against the previous month. This is the highest monthly number of foreign tourist arrivals this year.
Party General Secretary Nguyen Phu Trong, speaking at a meeting in Hanoi on December 1 with China’s top diplomat Wang Yi, said Vietnam highly regards its bilateral relationship with China.
The National Assembly (NA) has approved the extension of the two-percentage-point reduction of the value-added tax (VAT) for specific items until June 30, 2024.
New foreign investments in January-November have soared by 14.8% year-on-year to nearly US$28.85 billion, according to a Ministry of Planning and Investment report.
Vietnam and Japan on November 27, issued a joint statement announcing the elevation of their bilateral relationship to a comprehensive strategic partnership for peace and prosperity in Asia and the world.
Vietnamese law enforcement has busted a major drug trafficking ring and confiscated 1.3 tons of ketamine. Seven individuals have been charged in connection with the case.
With less than six weeks before the year 2023 is out, Vietnam is seeing the public investment disbursement target for the year as an impossible mission.
Savills Vietnam has forecast the domestic real estate market will be able to get back to its high-growth path in the next two years despite current economic challenges.
Prime Minister Pham Minh Chinh has issued a decision establishing the State Steering Committee for critical national energy programs, projects, and initiatives.
Beginning December 1, all transactions of real estate, foreign exchange and game prizes must be reported to the State Bank of Vietnam (SBV) if they are valued at VND400 million or above each.
HCMC is inviting Indian investors to participate in the city’s major schemes, including 12 metro and monorail projects and eight high-technology ventures.
HCMC could miss its public investment disbursement target this year as a mere 38% of the total has been disbursed so far, according to the HCMC People’s Committee.
Gas stations are teetering on the brink of closure if the Government pushes forward with the immediate enforcement of electronic invoicing, said the Ministry of Industry and Trade.
Authorities have approved an increase in the charter capital of the management company of Metro Line No. 1 in HCMC, addressing the challenges caused by a shortage of capital that the company has faced in recent years.
Deputy Minister of Planning and Investment Tran Quoc Phuong has reaffirmed Vietnam’s determination to harness technologies for the achievement of net-zero emissions and sustainable development.
The Government has proposed strict sanctions against brokers involved in facilitating Vietnamese fishing boats’ Illegal, Unreported, and Unregulated (IUU) fishing activities in foreign waters.
The allocation for the Long Thanh International Airport resettlement totaled nearly VND22.86 trillion but as of end-2022, VND2.5 trillion that remained undisbursed was removed from the budget, affecting the resettlement progress.
Vietnam is seeing an uptick in investments from the U.S. and Europe, driven by its robust economic growth, skilled labor and reputation as a preferred destination amid the changing investment landscape.
Vietnam’s State President Vo Van Thuong will travel to the U.S. next week to attend the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco.
Out of nearly US$12 billion pledged by U.S. companies in Vietnam, only US$149 million has been committed to agricultural projects, representing a mere 1.35% of the total.
The VND120-trillion credit package for social housing development is facing sluggish disbursement, with just VND105 billion disbursed to date.
Germany and Vietnam have signed an agreement on official development assistance (ODA) for Vietnam for the 2024-2025 period.
To alleviate traffic congestion in the southern gateway area of the city, HCMC plans to spend over VND3,700 billion constructing a new bridge that will connect Saigon South with District 1.
The U.S. Department of the Treasury has continued not designating Vietnam as a currency manipulator, the State Bank of Vietnam (SBV) said on November 8.
The United Kingdom (UK) has unveiled an official development assistance (ODA) program as part of the International Science Partnerships Fund (ISPF), one of the largest science and technology collaboration initiatives between the UK and international partners. Part of the fund will be set aside for cooperation projects with Vietnam.
The U.S. Department of Commerce (DOC) has commenced an anti-dumping probe into aluminum extrusions and aluminum products imported from Vietnam.
The Government has submitted a proposal to extend the two-percentage-point reduction of the value-added tax (VAT) for certain goods and services until mid-2024.
Vietnam’s total foreign trade in the year to October had amounted to US$557.95 billion, with seven groups of export items generating export revenue of US$10 billion or above each.
Interest rates on loans in HCMC have declined significantly, with 63% of outstanding loans bearing rates below 9.75%, according to the State Bank of Vietnam’s HCMC branch.
A Dutch manufacturer of chip equipment has received approval to lease a factory at Saigon Hi-tech Park (SHTP) in HCMC with an initial investment of nearly US$5 million.
Vietnam’s rice export prices have surged to new highs, surpassing those of Thai rice, with some types of rice reaching US$117 per ton.
The largest liquefied natural gas (LNG) warehouse in Vietnam, capable of accommodating vessels of 100,000 DWT, has been inaugurated in Ba Ria-Vung Tau Province.
Fuel retailers are seeking assistance from the Government and the Ministry of Finance due to a significant reduction in commissions provided by major fuel trading companies.
The National Steering Committee on Natural Disaster Prevention and Control has proposed allocating over VND5 trillion to support 30 provinces affected by disasters.
The Vietnam Chamber of Commerce (VCCI) has proposed reducing value added tax (VAT) from 10% to 8% for all goods and services.
Deposits at commercial banks in the first eight months of this year soared by 9.68% against the end of 2022 to an all-time high of VND6.43 quadrillion.
Standard Chartered Bank has revised down its GDP growth forecast for Vietnam in 2023 to 5% from the earlier estimate of 5.4%.
Vietnam’s gross domestic product (GDP) growth may expand around 5% in 2023, lower than the 6.5% target, while the inflation rate may be curbed at 3.5-4%, said Prime Minister Pham Minh Chinh at the 6th session of the 15th National Assembly on October 23.
Remittances to HCMC in the first nine months of this year surged by 40% against the year-ago period to US$6.6 billion.
French Ambassador to Vietnam Olivier Brochet expressed optimism about strengthening Vietnam-France relations, particularly in legal cooperation.
Although Vietnam’s economy showed signs of recovery in the third quarter of this year, particularly in industrial production and exports, a significant increase in headline inflation has emerged as a cause for concern, prompting scrutiny from policymakers.
The Japan International Cooperation Agency (JICA) has reiterated its commitment to assist Vietnam in various areas, including infrastructure development, human resource growth, healthcare, and climate change mitigation, according to JICA’s Vietnam office.
Deputy Prime Minister Le Minh Khai has endorsed the Ministry of Finance’s proposal to extend a two-percentage-point reduction in value-added tax (VAT) until the first half of next year but it needs approval from the National Assembly.
The World Bank (WB) is considering extending financial support ranging from US$5 billion to US$7 billion to Vietnam for the implementation of major traffic infrastructure projects over the next three years.
Sales of construction steel in September grew 9% against the month earlier and 4% year-on-year to 958,560 tons, according to the Vietnam Steel Association.
The Ministry of Industry and Trade (MOIT) has published a list of products that could potentially be subjected to U.S. trade remedies and origin fraud investigations.
Vietnam has imported more than eight million cubic meters of fuel in the first nine months of the year, with the largest share coming from South Korea.
The Vietnamese railway sector will start selling tickets for the 2024 Lunar New Year to groups from October 15 and individuals from October 20.
The State Bank of Vietnam (SBV), the central bank, has drained nearly VND146 trillion from the banking system through 13 recent short-term bond auctions.
India’s Directorate General of Trade Remedies (DGTR) has initiated an anti-dumping investigation into stainless steel pipes imported from Vietnam and Thailand.
The HCMC Department of Transport has proposed developing a central station for the North-South high-speed railway in Thu Thiem and a rail link between Thu Thiem and Long Thanh in Dong Nai Province.
Vietnam’s outbound investments amounted to US$416.8 million in the first nine months of the year, a 4.6% increase compared to the same period of last year.
Vietnam’s consumer price index (CPI) in September has surged by 1.08% compared to the previous month, the highest level for this month in the last five years, according to the General Statistics Office.
The Vietnam Expressway Corporation (VEC) is planning to raise toll fees on its four expressways this year to secure the viability of its financial strategy and enhance its debt repayment.
Vietnam achieved an all-time high in rice export value in the first nine months of this year, driven by the increasing prices of exported rice, reported the Ministry of Agriculture and Rural Development.
The index of industrial production (IIP) of Hanoi in September rose by a slight 0.7% versus August and 3.5% year-on-year.
In response to tough business conditions, more than 1,200 enterprises in HCMC are planning to cut jobs this year, reported the Centre for Forecasting Manpower Needs and Labour Market Information HCM City (FALMI).
The Australian Government has committed financial assistance to Vietnam for a study on the planning of four airports from 2021 to 2030.
With 35-55 million cubic meters of sand extracted each year, the Mekong Delta’s sand reserves could be completely depleted before 2035, according to research from the World Wide Fund for Nature (WWF) in Vietnam.
Vietnamese banks and foreign bank branches in Vietnam must lower the ratio of short-term capital used to make medium- and long-term loans to 30% from the current 34%, with effect from October 1, according to the State Bank of Vietnam (SBV).
The State Bank of Vietnam (SBV) has withdrawn nearly VND90 trillion from the banking system through six consecutive rounds of Treasury bill auctions.
In response to the Nipah virus outbreak in India, HCMC authorities are taking measures to monitor individuals entering Vietnam from affected areas.
The Visa Global Travel Intentions Study (GTI) 2023 has shown that nearly all Vietnamese respondents are inclined to use cashless payment methods while traveling to streamline transactions and enhance their overall travel experience.
The Vietnam Sugarcane and Sugar Association (VSSA) has voiced its suspicion over Indonesia having dumped sugar on the Vietnamese market in recent years, as its export prices were below local prices and the fair market value.
A memorandum of understanding to establish a sister partnership between HCMC and New York City was signed on September 22, with Vietnam’s Prime Minister Pham Minh Chinh witnessing.
Prime Minister Pham Minh Chinh has invited U.S. companies to increase their investments in Vietnam, fostering a mutually beneficial relationship and aiding the implementation of the newly established comprehensive strategic partnership between the two nations.
Tran Van Tuynh, former director of the management board of a healthcare development project in Bac Ninh Province, and Nguyen Hong Son, deputy general director of Advanced International JSC (AIC), were arrested yesterday, September 22.
The Ministry of Transport has been tasked with fleshing out a plan to construct eight expressways with a combined length of 830 kilometers in the Central Highlands by 2030, said Minister Nguyen Van Thang.
Vietnam’s economic growth in 2023 is likely to peak at 6%, thus missing the 6.5% target, even if the nation manages to mobilize resources and meet up to 95% of the public investment disbursement goal for the year.
Chip design tools maker Synopsys has signed a memorandum of understanding (MOU) with the Ministry of Information and Communications to advance semiconductor development in Vietnam.
HCMC authorities have inaugurated a frontage road in parallel with HCMC-Long Thanh-Dau Giay Expressway, helping to relieve the pressure on the expressway.
Outstanding loans in HCMC last month rose by a slight 1% against the previous month, taking to 3.26% the city’s credit growth rate in the first eight months of the year, said the HCMC branch of the State Bank of Vietnam (SBV).
The HCMC Department of Construction has put forth a proposal to include an additional 26 land plots within the city for the development of social housing for low-income individuals and industrial workers. These developments are part of the HCMC Housing Development Plan for 2021 to 2025.
Prime Minister Pham Minh Chinh will attend the 20th China-ASEAN Expo in China, then the 78th UN General Assembly in the U.S., and pay an official visit to Brazil this September, said the spokesperson of the Ministry of Foreign Affairs.
The HCMC Department of Transport has said that over VND30 trillion is needed for an 11.3-kilometer section of Beltway No. 2 that has not yet been built.
Trade prospects for the Vietnamese tra fish export sector in the U.S. look bright following the positive outcome of the 19th administrative review of anti-dumping duty on frozen fish fillets imported from Vietnam (POR19).
A fire engulfed a mini apartment building which houses around 150 residents on Khuong Ha Street in Hanoi’s Thanh Xuan District on the evening of September 12, resulting in numerous casualties.
Leaders of Vietnam and the U.S. have issued a joint communiqué on elevating bilateral ties to a comprehensive strategic partnership on the occasion of President Joe Biden’s State visit to Vietnam on September 10-11.
Vietnam’s Party General Secretary Nguyen Phu Trong and U.S. President Joe Biden have announced that the two nations have elevated their relations from a comprehensive partnership to a comprehensive strategic partnership.
The Ministry of Industry and Trade has proposed a plan to implement the National Power Development Plan VIII, which outlines the need of substantial investments worth US$134.7 billion in the country’s electricity sector by 2023.
The banking sector in Vietnam is currently sitting on mountains of cash as the demand for loans in the economy remains woefully low, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
Two flight attendants from a Vietnamese airline have been detained in South Korea for alleged involvement in drug smuggling, according to South Korean authorities.
Officials from Vietnam and Australia have highlighted the significant potential for enhancing bilateral trade and investment, particularly through the free trade agreements (FTA) to which the two nations are signatories.
U.S. President Joe Biden is scheduled to pay a State visit to Vietnam from September 10 to 11 at the invitation of Vietnamese Party General Secretary Nguyen Phu Trong, the Vietnamese Ministry of Foreign Affairs has announced.
Deposits at commercial banks in Vietnam had reached an all-time high of over VND12.3 quadrillion in the year to the end of June despite interest rate cuts, according to the State Bank of Vietnam.
The foreign direct investment (FDI) sector holds the lion’s share in Vietnam’s mechanical engineering exports, leaving a meager portion for local enterprises.
Vietnam’s Consumer Price Index (CPI) has risen by 0.88% in August versus July, with year-to-date data indicating a 3.1% increase, according to the General Statistics Office’s report on August 29.
A comprehensive rehabilitation plan is underway for the 830-meter stretch along the Saigon River on the side of the Thu Thiem New Urban Area, involving the introduction of landscaping elements such as a ferris wheel and a pedestrian bridge.
PouYuen Vietnam is set to provide financial aid totaling VND165 billion to 1,220 employees who will be laid off next month, according to the HCMC Department of Labor, War Invalids, and Social Affairs on August 29.
The total cost of Rach Mieu 2 Bridge, which connects the Mekong Delta provinces of Tien Giang and Ben Tre, is expected to increase by VND1.6 trillion to VND6.81 trillion due to higher site clearance costs.
Vietnam Railways has proposed the Ministry of Transport approve a VND180-billion second-phase project to upgrade Song Than railway station in the southern province of Binh Duong.
International investors had pledged around US$18.15 billion in new capital to Vietnam in the year to August 20, up 8.2% year-on-year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
HCMC is set to carry out a comprehensive test run of Metro Line No. 1, which connects Ben Thanh Market and Suoi Tien Theme Park, starting August 31, according to the HCMC Management Authority for Urban Railways (MAUR).
Vietnam expects to attract more foreign direct investment from Western Europe and North America in the near future, said a representative of the Ministry of Planning and Investment.
The Airport Corporation of Vietnam (ACV), the investor of the Long Thanh International Airport project, has announced that a consortium led by Turkey’s IC ISTAS won the bid for the construction of the airport’s passenger terminal.
The rise in non-performing loans within the real estate sector has become a cause for alarm as the bad debt ratio escalated from 1.53% in the previous year to 2.47% during the first half of 2023.
Australian Minister for Foreign Affairs Penny Wong has announced AU$94.5 million in financial assistance for Vietnam to adapt to of climate change in the Mekong Delta.
Domestic gasoline prices continued to increase from 3:00 p.m. yesterday, August 21, according to an announcement jointly issued by the ministries of Industry-Trade and Finance.
Prime Minister Pham Minh Chinh has issued a directive urging the acceleration of public investment capital disbursement in the rest of this year.
The Ministry of Industry and Trade (MOIT) is urging relevant departments to explore opportunities for expanding export markets for Vietnamese rice.
The Civil Aviation Authority of Vietnam (CAAV) has released a list of local airports where foreigners can utilize e-visas for entry and exit from Vietnam.
Private banks have lowered interest rates for deposits with tenors of six months and beyond while state-run banks have kept their rates unchanged.
The government of HCMC has initiated plans to promote the “One Commune One Product” (OCOP) program and establish sustainable supply chains for local farm produce.
Vietnam has expressed its intention to establish a consulate general in Chongqing and trade promotion offices in Sichuan and Hainan.
Small- and medium-sized enterprises in Vietnam are almost too frail to weather difficulties, the Ministry of Planning and Investment said in a recent report.
Vietnamese automaker VinFast is poised to make its debut on the U.S. Nasdaq stock exchange on August 15, following the green light for its merger with a special purpose acquisition company.
Vietnam and Iran will boost multi-faceted cooperation, including in economy, investment, and cultural exchanges, heard a forum on policies and legislation to foster ties between the two nations on August 9.
Prime Minister Pham Minh Chinh has called on HCMC authorities to speed up work on Metro Line No. 1 so that it can commence commercial service in early 2024.
Tan Son Nhat International Airport has introduced an automated entry system (autogate) to facilitate the entry of travelers and speed up immigration procedures.
HCMC has called for companies from Oakland City in the U.S. to set up shop in the Saigon Hi-Tech Park (SHTP) for chip and semi-conductor production, along with new material technology.
Vietnam’s economy has grappled with mounting challenges due to global market uncertainties, declining exports, and credit crunch, said Prime Minister Pham Minh Chinh on August 5 at the Government meeting on the country’s socioeconomic performance in July.
The Airport Corporation of Vietnam (ACV), the investor of the Long Thanh International Airport project, has announced that a consortium led by Turkey’s IC ISTAS meets the technical requirements for the VND35-trillion bidding package for the airport’s passenger terminal construction.
SP Group, the energy supplier from Singapore, has joined forces with HCMC Power Corporation (EVNHCMC) to accelerate awareness and adoption of energy-efficient and sustainable energy solutions.
Vietnamese passengers can now use their level-2 electronic identification accounts in the VNeID mobile app for boarding domestic flights at all airports in the country.
Vietnam experienced a fifth successive monthly fall in manufacturing last month but the decline was the softest in five months.
Vietnam and Singapore are planning to extend their cooperation in various fields for another 50 years following the 50th anniversary of the establishment of diplomatic relations between the two Southeast Asian nations.
The HCMC People’s Committee and the Mekong Delta provinces jointly held a conference on July 21 to unveil an action plan to implement their agreement on socio-economic development cooperation in 2023 and the 2024-2025 period.
The Hanoi People’s Court yesterday, July 28, handed down a 16-year prison term to To Anh Dung, former deputy minister of Foreign Affairs, for receiving bribes from those arranging repatriation flights during the height of the Covid-19 pandemic.
Part of the roadsides and sidewalks in HCMC will be leased for various purposes, such as car parking, business and hosting cultural activities, starting this September.
A 2.7-kilometer residential frontage road that runs parallel with the HCMC-Long Thanh-Dau Giay Expressway will be opened to traffic by the end of this month, according to the HCMC Department of Transport.
After seven years of negotiations, Vietnam has become the first Southeast Asian nation to sign a free trade agreement (FTA) with Israel, which will result in tariff cuts by up to 92% for Vietnamese goods exported to Israel.
Four State-run banks have further reduced interest rates for deposits of various tenors in a bid to make loans cheaper for businesses that are struggling to survive tough times.
The Vietnamese Ministry of Industry and Trade has announced that the U.K. will recognize Vietnam as a market economy.
A US$20-billion loan was proposed for the development of HCMC’s urban railway network at a conference yesterday of the newly-established Southeastern Region Coordination Council.
Vietnam will purchase around 20 million tons of coal from Laos annually in the next five years to ensure national energy security.
U.S. Treasury Secretary Janet Yellen said during her visit to Vietnam that the U.S. is willing to support Vietnam in enhancing the manufacturing of semiconductor chips and the development of renewable energy.
The annual international event, InnoEx, will take place in HCMC on August 24 and 25, aiming to foster innovation and development in Vietnam and Southeast Asia’s thriving business community.
Work is being sped up on the second phase of the Eastern North-South Expressway project, with more than 500 working groups deployed to its construction sites nationwide.
The HCMC Department of Natural Resources and Environment has proposed auctioning dozens of land plots and a staggering 3,790 apartment units in Thu Thiem New Urban Area, just opposite to the central business district.
Storm Talim has impacted several local airports in Vietnam, leading to changes in flight schedules at various airports.
European businesses operating in Vietnam are exhibiting reduced confidence in the local market, resulting in a 4.5-point decline in their Business Confidence Index (BCI) from the current score of 43.5, according to a recent survey conducted by Decision Lab.
The total length of Vietnam’s expressway network will exceed 1,850 kilometers by the end of 2023, Deputy Minister of Transport Nguyen Duy Lam said at a meeting on July 13.
The Ministry of Industry and Trade has conducted an inspection in which Vietnam Electricity Group (EVN) was found to be responsible for the power supply crunch, most recently in northern Vietnam, due to its slow investments in electricity infrastructure.
The Maran Gas Achilles, an Egyptian-flagged vessel carrying 70,000 tons of liquefied natural gas (LNG), has arrived at the Thi Vai LNG Terminal in Ba Ria-Vung Tau Province, making it the first LNG ship to come to a Vietnam port.
To Anh Dung, former deputy minister of Foreign Affairs, and 53 other defendants will stand trial today, July 11, for allegedly receiving bribes in the process of operating repatriation flights during the Covid pandemic.
Vietnamese and Singaporean businesses and organizations have signed 12 memorandums of understanding (MOUs) to strengthen collaboration in digitization, human resources, and sustainable development.
The Ministry of Industry and Trade has worked out two scenarios for economic growth in the second half of this year.
HCMC recorded over 82,500 workers leaving their jobs and submitting unemployment insurance claims in the first six months of this year, an increase of over 5,000 people over the same period last year.
HCMC expects a significant number of job openings in the coming months, driven by positive economic developments.
HVN shares of Vietnam Airlines will only be traded in the afternoon session from July 17 due to the carrier’s delay in submitting its audited financial statement for 2022.
The Japan International Cooperation Agency (JICA) has signed three agreements with the Vietnamese Government to provide official development assistance (ODA) loans totaling over VND10.6 trillion.
One or two typhoons and tropical depressions may develop in or enter the East Sea during July, potentially affecting the northern and central regions of Vietnam, according to the National Center for Hydro-Meteorological Forecasting.
The State Bank of Vietnam (SBV) has issued a new circular banning commercial banks from providing loans for the purpose of depositing money at other banks, buying gold, or refinancing existing debts.
The disbursement of capital from foreign direct investment (FDI) projects in the first half of this year has reached US$10.02 billion, showing a modest increase of 0.5% compared to the same period last year, according to the Ministry of Planning and Investment.
Due to a significant decline in new orders since the fourth quarter of last year, hundreds of thousands of employees across the country have faced job losses and reduced working hours, according to the General Statistics Office (GSO).
The seventh Singapore Regional Business Forum (SRBF) will be held in Hanoi on July 7 in commemoration of the 50th anniversary of the establishment of Vietnam-Singapore diplomatic relations.
Vietnam has decided to halve the registration fee for domestically assembled and manufactured automobiles, with effect from July 1, to boost demand and support local automakers.
Vietnam’s exports to Canada were put at US$2.2 billion in the first five months of this year, falling by 15% compared to the same period last year.
State-owned and private banks have recently lowered their deposit interest rates in response to the decision by the State Bank of Vietnam (SBV) to further decrease deposit rates and key interest rates on June 16.
With this approval, foreigners will be entitled to multiple entries to Vietnam within 90 days without a need to apply for a new visa.
The National Assembly has approved maintaining airfare price ceilings in the revised Pricing Law.
The Ministry of Finance has sent a draft decree to the Government, proposing a 50% registration fee cut for domestically manufactured and assembled cars.
The HCMC Department of Health has formulated three plans to effectively handle the increasing number of hand-foot-and-mouth disease (HFMD) cases in the city.
Vietnam remains out of the U.S. monitoring list for currency manipulators, according to the State Bank of Vietnam.
HCMC will use seaport infrastructure fee revenue to fund three major infrastructure projects in Thu Duc City.
The government of HCMC yesterday began work on the city’s section of Beltway No. 3 which connects HCMC and three neighboring provinces – Dong Nai, Binh Duong and Long An.
Three Mekong Delta provinces and Can Tho City held simultaneous groundbreaking ceremonies for four components of the Chau Doc-Can Tho-Soc Trang Expressway on June 17.
The Ministry of Finance has written to the National Assembly proposing issuing a resolution that would exempt loss-making businesses from interest on late payments of taxes, land use fees and land rentals in 2022 and 2023.
The State Bank of Vietnam (SBV), the country’s central bank, has once again lowered the maximum deposit interest rate for tenors below six months, the second reduction within nearly a month.
Bamboo Airways has released documents in preparation for the upcoming general meeting of shareholders, confirming that all the five board members of the airline have tendered their resignation.
The HCMC authorities have officially renamed two major bridges that span the Saigon River to the Thu Thiem new urban area. Thu Thiem 1 and Thu Thiem 2 bridges are now called Thu Thiem and Ba Son, respectively.
Individuals’ deposits at commercial banks in the first quarter of 2023 soared by around VND415 trillion, the highest level in over 10 years, despite lower interest rates, showed data from the State Bank of Vietnam (SBV).
The electricity supply in the northern region of the country has improved as technical glitches in several power plants have been resolved.
The Government has given the go-ahead to the commencement next week of construction work on four major road projects in southern Vietnam.
HCMC has thrown its support behind a proposal to connect the planned HCMC-Thu Dau Mot-Chon Thanh Expressway with HCMC Beltway No. 3.
The former Vietnamese Ambassador to Japan, Vu Hong Nam, has been forced to resign from his position by the Prime Minister due to serious violations committed while on duty.
Tan Son Nhat International Airport in HCMC is looking to handle nearly 24 million passengers in the summer from June to August this year.
PouYuen Vietnam, the most labor-intensive company in Binh Tan District, HCMC, has offered financial assistance totaling VND689 billion to around 5,700 workers whose contracts were terminated in June and July this year.
Vietnam’s exports in May continued to improve, with a 4.3% increase versus April to US$29 billion, according to an official at the Ministry of Industry and Trade.
The first-ever Vietnam Space Week started on June 5 in Vi Thanh City, Hau Giang Province, with young people having the opportunity to hear stories of astronauts working and living in space.
The North-South Expressway project will receive a disbursement of VND5,229 billion this month.
The General Statistics Office has released data showing that Vietnam’s consumer price index (CPI) in May increased by 2.43% compared to the same period last year.
The Ministry of Finance has joined hands with the State Bank of Vietnam to take swift action against violations by banks and insurance companies in forcing their clients to buy life insurance.
Vietnam’s export revenue in the first five months of this year inched down, but the country enjoyed a trade surplus of US$9.8 billion, according to the General Statistics Office.
The Civil Aviation Authority of Vietnam (CAAV) will allow passengers to use the mobile ID app VNeID to board domestic flights at all local airports from June 1 to August 1 on a trial basis.
Over 20 banks have cut deposit interest rates, with the highest rate now set at 8.5% per year.
The Government has proposed that the National Assembly (NA) extend the e-visa validity to 90 days with single or multiple entries to attract more international visitors to Vietnam.
Prime Minister Pham Minh Chinh has chaired an urgent meeting with ministries and departments to discuss measures to ensure electricity supply for businesses and households during the dry season.
Typhoon Mawar has strengthened into a super typhoon after it approached the Philippines, which may lead to a downpour across Vietnam’s southern region this weekend.
The Government’s proposal for lowering the value added tax (VAT) from 10% to 8% has been placed before the National Assembly (NA).
A majority of National Assembly (NA) deputies have agreed to maintain the airfare cap but remove floor prices of domestic air tickets.
The State Bank of Vietnam (SBV) has announced two separate decisions further lowering key interest rates, with effect from Thursday, May 25. This is the third rate reduction since March in the central bank’s monetary easing cycle aimed at boosting slackening economic activity and consumption.
Japan will provide Vietnam with JPY61 billion, or nearly US$500 million, in official development assistance (ODA) to fund its projects.
Prime Minister Pham Minh Chinh met with U.S. President Biden on May 20, on the sidelines of the expanded G7 Summit in Japan to discuss measures to enhance bilateral relations.
In a proposal by the HCMC Management Authority for Urban Railways (MAUR), ticket prices for the Ben Thanh – Suoi Tien Metro Line would range from VND9,000 to VND24,000 (from US$0.38 to US$1.02), with free admission for all passengers during the first month of service.
The prime minister has told the Ministry of Health to coordinate with other relevant ministries and departments to prepare the necessary documents for shifting Covid-19 from type A to type B infectious disease and announce the Covid-19 pandemic is over in Vietnam.
Vietnamese automaker VinFast has announced that the first shipment of VinFast VF 8 SUVs has arrived at Nanaimo Port in Canada.
Following the central bank’s interest rate cuts in April, commercial banks have lowered deposit rates further this month.
The Government said that the proposal for extending the e-visa validity to 90 days would help attract foreign tourists and investors who want to explore investment opportunities in Vietnam.
Hanoi City is seeking approval from the central Government for a plan to develop one more international airport for the capital city area besides the operational Noi Bai International Airport.
PouYuen Vietnam, the most labor-intensive firm in Binh Tan District, HCMC, has decided to lay off almost 6,000 workers in June and July due to the shortfall of new orders for the year.
The State Bank of Vietnam (SBV), the central bank, will focus on inspecting share transfers among credit institutions this year to prevent cross ownership in thebanking sector.
The Airports Corporation of Vietnam (ACV) is inviting tenders for a VND2,800-billion bidding package to construct two roads leading to Long Thanh International Airport.
Many hydropower plants in the country have seen their reservoirs ebbing to extremely low levels, leaving huge impact on hydropower generation in the ongoing dry season.
Prime Minister Pham Minh Chinh has approved a proposal to construct a road between two neighboring southern provinces — Binh Phuoc and Dong Nai.
The National Assembly Economic Committee has asked the Government to clarify why Vietnam Electricity Group (EVN) has made losses of more than VND26.4 trillion.
Hanoi City has proposed increasing the cost of the Nhon-Hanoi Station urban rail line by VND1.9 trillion and extending the deadline for the completion of the project until 2027.
The State Bank of Vietnam, or SBV, bought nearly US$4.9 billion in the first four months of this year, thus shoring up the country’s foreign exchange reserves, according to the Ministry of Planning and Investment.
The Government has approved a Ministry of Finance proposal for lowering the value added tax (VAT) from 10% to 8% to support businesses and households to cope with economic headwinds.
Superdong, a local waterway transportation service provider, will inaugurate a new ferry service connecting Ha Tien City and Nam Du Island off Kien Giang Province in the Mekong Delta today, May 6.
HCMC and many other parts of southern Vietnam will face a heat wave in the coming days, with temperatures ranging from 35 to 38 degrees Celsius.
The My Thuan 2 Bridge project is expected to be completed by the end of the year, according to contractors.
Weak consumption led Mobile World Investment Corporation (MWG) to cut almost 6,000 jobs between January and March, marking the second consecutive quarter of its mass layoffs.
The 100-plus-year-old Ben Thanh market, an iconic structure in the center of HCMC, has got a facelift.
Parkson Vietnam has filed for voluntary bankruptcy proceedings to the HCMC People’s Court on April 28 after years of losses in the Vietnamese market.
Fresh foreign direct investment (FDI) approvals nationwide in the year to April 20 had reached nearly US$8.9 billion, down 17.9% against the year-ago period, according to the Foreign Investment Agency at the Ministry of Planning and Investment.
Vietnam made only US$13.2 billion in export revenue in the first half of April, down 19.2% compared to the second half of March, according to preliminary data from the General Department of Vietnam Customs.
Many inner-city streets will be closed to traffic on the evenings of April 28 and 30 to make room for the city’s Reunification Day celebration, said the HCMC Department of Transport.
The third test run of Metro Line No.1, which links Ben Thanh Market and Suoi Tien Theme Park, attracted roughly 2,000 people on April 26.
The number of real estate businesses pulling out of the market surged in the first quarter of this year while new market entrants dropped sharply, according to the Ministry of Construction.
Vietnamese National Assembly Chairman Vuong Dinh Hue arrived in Buenos Aires, the capital of Argentina on the morning of April 24, beginning his official visit to this country.
Starting from July 1 this year, investors can register business online, making the business registration process simple and easy, particularly for household businesses.
The HCMC People’s Council has endorsed the city People’s Committee’s proposal to add VND19,555 billion to the city’s 2021-2025 mid-term investment plan, funded by the local budget.
Two components of the Eastern North-South Expressway project, with a total length of 200 kilometers, will be temporarily opened to traffic on April 30 in celebration of Vietnam’s Reunification Day.
The administration of HCMC will hold the first export expo to facilitate trading opportunities for local businesses and manufacturers.
The Supreme People’s Procuracy of Vietnam has released its indictments against 54 suspects in the Covid-19 repatriation flight scandal, with former Deputy Foreign Minister To Anh Dung and 17 others likely to be sentenced to between 20 years in prison and death.
The Government has approved the Ministry of Finance’s proposal to revise down the value-added tax (VAT) from 10% to 8% for certain goods and services this year to boost consumption and economic growth.
The Civil Aviation Authority of Vietnam, or CAAV, has approved a plan to pilot facial recognition technology for passengers at the Noi Bai International Airport in Hanoi from April 17 to May 17.
Prime Minister Pham Minh Chinh, speaking at a meeting in HCMC between the central Government and HCMC leadership on April 16, requested the city to remove or change officials who show low or no responsibility.
The Civil Aviation Authority of Vietnam (CAAV) has decided to increase aircraft movements at the Tan Son Nhat International Airport to meet the rising travel demand during the April 30-May 1 holiday and summer vacation.
A new highly transmissible Omicron subvariant known as XBB.1.5 has been detected in HCMC, the city’s health department reported on April 14.
The Government has requested the Ministry of Finance to evaluate the impact of a global minimum effective corporate tax on the nation’s budget revenue and foreign investment attraction, and on foreign investors.
Deputy Prime Minister Tran Hong Ha has requested the relevant parties to expedite measures to prevent red soil dust at the Long Thanh airport project from impacting the nearby residential areas.
David Riddle, Tan Hiep Phat Beverage Group vice chairman, has been picked as new CEO and legal representative of the Binh Duong-based company.
Tran Quy Thanh, aged 70, founder and CEO of Tan Hiep Phat Beverage Group, and his daughter Tran Uyen Phuong have been detained on alleged misappropriation of assets.
The cash-strapped HCMC Urban Railway No. 1 Co. Ltd. (HURC1), the city’s Metro Line No. 1 operator, has been on the verge of going bankrupt given prolonged financial constraints.
The Ministry of Finance proposed extending the deadline for businesses to settle all tax liabilities in 2023 to help reduce financial costs, maintain liquidity and improve cash flow.
Businesses in HCMC are expected to employ from 67,000 to 73,000 workers from April to June.
The Saigon Times Group, in collaboration with the State Bank of Vietnam (SBV), will hold a forum titled “Monetary policy in turbulent times”.
The Government at its recent meeting decided to keep the nation’s gross domestic product (GDP) growth target at 6.5% for this year despite the steep economic slowdown in the first quarter of the year and challenges ahead.
To Anh Dung, former deputy minister of Foreign Affairs, has been charged with accepting VND21.5 billion in bribes from the businesses he handpicked to join the Covid-19 repatriation flight plan.
After seven years and 12 rounds of negotiations over a free trade agreement, Vietnam and Israel have finally reached a mutually beneficial deal.
The Government has officially written to the National Assembly proposing a new policy for changing immigration procedures and e-visa issuance, and lengthening a visa-free stay for foreign visitors.
Although the number of new FDI projects approved in the first quarter this year grew over the same period in 2022, their capital pledges edged down.
Fresh investment capital in HCMC’s export processing zones and industrial parks reached US$90.14 million in the first quarter of the year, growing over 21% year-on-year and reaching 16.39% of the year’s plan.
Party General Secretary Nguyen Phu Trong spoke on the phone with U.S. President Joe Biden on March 29.
Vietnam’s gross domestic product (GDP) in the first quarter of 2023 has grown by 3.32% year-on-year, the second lowest growth rate since 2011, according to the General Statistics Office.
Prime Minister Pham Minh Chinh has signed Document 178 ordering the lifting of hindrances to the real estate market and boosting the development of this sector.
The National Assembly Standing Committee has asked the Government to review a provision in the draft of the revised Housing Law that allows foreigners to own landed houses.
The Government is weighing increasing the duration of visa-free stay for international tourists to 45 days from the current 15 to attract guests from abroad.
Minister of Finance Ho Duc Phoc, deputy head of the National Steering Committee for Prevention of Smuggling, Counterfeit Goods and Trade Fraud has signed a decision setting up an interdisciplinary team for combating the smuggling of goods by air.
Vietnam’s digital economy saw the gross merchandise value (GMV) reaching US$23 billion last year, with e-commerce making up over 60%.
The Ministry of Natural Resources and Environment has called for a joint effort to switch off lights and unplug unnecessary electrical devices in response to this year’s Earth Hour event.
Dien Bien Airport in the mountainous province of Dien Bien will cease operations in mid-April for upgrade.
Major U.S. companies will come to Vietnam to sound out investment and trade opportunities in the Southeast Asian nation from March 21 to March 23.
The HCMC People’s Committee will meet with relevant departments and agencies this week to consider a proposal to lengthen Metro Line No. 1 to two neighboring provinces, Binh Duong and Dong Nai.
The National Assembly Standing Committee has not thrown its weight behind the time limit of apartment ownership as proposed in the draft of the revised Housing Law.
Investors of transitional solar and wind power plants have written to the prime minister expressing concerns that the electricity pricing mechanism would cause possible disruptions of their financial plans.
Local carrier Bamboo Airways on March 17, began selling tickets for the air service connecting Hanoi City and Ca Mau Province in the Mekong Delta.
Vietnam will unilaterally offer a visa waiver for more countries and lengthen the duration of stay for international tourists, said Prime Minister Pham Minh Chinh at a conference on the post-Covid tourism recovery on March 15.
According to the Vietnam Telecommunications Authority, mobile phone numbers that do not match user data stored in the national population database will be deactivated after March 31.
The State Bank of Vietnam (SBV) made two separate decisions today to lower interest rates by 0.5 to one percentage point, with effect on March 15.
The State Bank of Vietnam, the country’s central bank, has taken punitive measures against several of 11 commercial banks that have been inspected over matters related to investments in corporate bonds.
The Japanese government has provided about US$1.38 million to nine healthcare, education, transportation and environmental development projects in Vietnam.
Associations have proposed the central Government halve the registration fee for locally assembled or manufactured cars during the first half of the year to boost market demand.
HCMC called on Singaporean investors to invest in the city’s priority projects such as HCMC – Moc Bai Expressway, Beltway No. 4, and Metro line 3A-3B-4.
HCMC has cut short the procedures for issuing work permits for foreigners and digitalized the application process to make it easy for enterprises to get work permits for their foreign staff.
HCMC is calling on enterprises in Western Australia to invest in major sectors in the city, such as food, agro-biotechnology, education and training, said Vo Van Hoan, vice chairman of the municipal People’s Committee, on March 7.
Vietnam and Japan will deepen their multifaceted cooperation, with a focus on jointly organizing a series of key events to mark the 50th anniversary of their diplomatic relations.
The Politburo has chosen Truong Thi Mai as permanent member of the 13th Party Central Committee’s Secretariat, replacing Vo Van Thuong who is now State President of Vietnam.
Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV), the nation’s central bank, to slash interest rates, make loans more accessible and focus on lending to key economic sectors.
The HCMC People’s Committee has written to the Government proposing using coefficient K to determine land prices for many property projects in the city.
The Ministry of Construction has backed off from the 110-trillion VND credit package for banks to lend on to developers and buyers of social housing, according to a statement released on March 2.
The National Assembly (NA) elected Permanent Member of the Party Central Committee’s Secretariat Vo Van Thuong as State President of Vietnam at an extraordinary session in Hanoi on March 2.
HCMC – Nearly 51,400 businesses have pulled out of the market in the year to date, up 14.5% year-on-year, according to the General Statistics Office.
Vietnamese authorities are expediting negotiations over new free trade agreements (FTAs) with markets that the country has yet to tap.
Visa, the world’s leader in digital payments, has renewed its memorandum of understanding (MOU) with the HCMC Department of Transport to transform urban mobility across the city.
Commercial flights between Hanoi City and the Mekong Delta province of Ca Mau will be launched from April 30, with three weekly flights.
HCMC – Despite the Government’s financial packages, low-income buyers still have difficulty acquiring a social home in HCMC due to red tape.
The United Kingdom (UK) Government has appointed TheCityUK, a financial and related professional services body, to support the HCMC authorities to develop the southern city into a regional financial and business center.
Work began yesterday on a VND8.2-trillion project to rehabilitate the heavily polluted Tham Luong-Ben Cat-Nuoc Len Canal.
Prime Minister Pham Minh Chinh has set a target to achieve a disbursement rate of at least 95% of all public investments planned for this year, equivalent to over VND676 trillion.
Deputy Prime Minister Tran Hong Ha has told Dong Nai Province and the Airports Corporation of Vietnam (ACV) to expedite the clearing of the remaining areas to deliver all sites of the first phase of the Long Thanh International Airport project this quarter.
Given the shortfall of new orders for this year, PouYuen Vietnam will not renew its employment contracts with around 3,000 workers this month.
Prime Minister Pham Minh Chinh has said the Government will not bail out the struggling real estate sector.
The struggle for the seat of board chairman of Hoa Binh Construction Group since late last year has begun showing signs of ending as one of two individuals involved has left.
The European Chamber of Commerce (EuroCham) has proposed Vietnam expand its visa waiver program to all European Union (EU) countries and offer a longer visa-free stay to attract European visitors, EuroCham said in its 14th White Book launched in Hanoi on February 16.
The first month of 2023 saw two-way trade between Vietnam and neighboring China reaching US$11.1 billion, General Department of Vietnam Customs data showed.
The Ministry of Finance had a working session with the EU-ASEAN Business Council (EU-ABC) to strengthen the bilateral partnership in green economy and digital transformation on February 14.
Nguyen Duc Thai, former chairman of the member council of the Vietnam Education Publishing House, and three others were prosecuted and arrested on February 13.
Samsung Vietnam is seeking to develop its current R&D center in the Tay Ho Tay urban area in Hanoi City into a world’s leading one.
Investors of the international transshipment port project in HCMC’s outlying district of Can Gio plan to complete the project’s pre-feasibility study and seek approval for it in the first quarter of this year.
The Ministry of Finance is seeking feedback on a draft Government decree on the rescheduling of payments of value-added tax (VAT), corporate income tax (CIT), and land rent amounting to over VND100,000 billion.
Prime Minister Pham Minh Chinh, during his official visit to Singapore, met with President Halimah Yacob and Prime Minister Lee Hsien Loong to discuss areas of mutual interest such as economy, security, defense, education, human resource development, tourism needs stimulation and cooperation in marine networks and new areas.
The Buon Don Tourist Center in the Central Highlands province of Daklak will suspend elephant riding service starting today.
Vietnam’s labor market has improved, sending goods news to workers being laid off in the final quarter of last year due to a shortfall of new orders faced by their companies.
Interbank interest rates surged last week as the State Bank of Vietnam (SBV), the country’s central bank, shifted from net cash injections to withdrawals from the banking system.
The State Bank of Vietnam (SBV) has injected more money into the banking system since the Lunar New Year holiday ended more than 10 days ago.
Vietnam has set a target of exporting goods worth US$393-394 billion in 2023, up by US$22 billion or 6% against last year, said a trade official.
Over 871,000 international tourists have come to Vietnam in the year to date, surging by 44.2-fold year-on-year, according to data of the General Statistics Office.
Four major roads in HCMC’s Go Vap District that are deteriorating, frequently flooded and overwhelmed by a huge traffic volume could be expanded at a total cost of nearly VND5.9 trillion.
More than VND638 trillion in public investment capital for this year has been allocated, reaching over 90% of the target set by the Prime Minister, according to a Ministry of Finance report.
The HCMC Department of Transport has proposed developing six projects to widen and upgrade existing roads under the build-operate-transfer (BOT) format with a total cost of VND100 trillion.
Vietnam posted a trade surplus of US$3.6 billion in January, showed data of the General Statistics Office.
New foreign direct investment (FDI) approvals had totaled US$1.69 billion in the year till January 20, down 19.8% over the same period last year, according to the General Statistics Office.
Vietnam’s Consumer Price Index (CPI) in January edged up 0.52% month-on-month, according to the General Statistics Office.
Around 145,000 travelers are expected to pass through the Tan Son Nhat International Airport in HCMC on January 26, the fifth day of the Lunar New Year (Tet) and the final day of the Tet holiday.
The eight-day Nguyen Hue Flower Street 2023 exhibition closed on January 26, the fifth day of the first lunar month, with over 1.2 million Tet revelers visiting.
Vietnam welcomed many international flights and cruise ships transporting hundreds of passengers on January 22 and 23, the first two days of the Year of the Cat.
Fresh foreign investment approvals in Vietnam are expected to reach between US$36 billion and US$38 billion this year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
HCMC looks to either break ground on or complete multiple major traffic infrastructure projects this year, according to the municipal Department of Transport.
Vietnam Airlines (VNA) has announced to add 108 more flights with nearly 20,000 seats to satisfy the huge air travel demand during the Lunar New Year holiday (Tet).
Luong Minh Tu, 43, director of the 60-04D auto inspection and testing center in the southern province of Dong Nai, and 10 others have been charged with taking tens of billions of dong in bribes.
The State Bank of Vietnam (SBV) will cap credit growth at 14-15% this year to maintain macroeconomic stability and boost economic growth.
Vice State President Vo Thi Anh Xuan now serves as acting State President after the 15th National Assembly, at its third extraordinary session in Hanoi yesterday afternoon, discharged Nguyen Xuan Phuc from the post of State President of Vietnam.
The 13th Party Central Committee (PCC) today agreed to let State President Nguyen Xuan Phuc quit as member of the Politburo and of the PCC, the Vietnam News Agency reported.
Four vehicle inspection and registration centers in HCMC, which are among those being forced to shut down while under a police investigation, have been cleared to reopen yesterday, to meet the demand of auto owners ahead of the Lunar New Year holiday.
Prime Minister Pham Minh Chinh has told the Ministry of Transport to complete the construction of 3,000 kilometers of expressway by 2025.
Tough inspection and screening procedures have hindered the rollout of a financial aid package with an interest rate discount of two percentage points, the Ministry of Finance said.
Vietnamese passports have risen four places to 88th on the Henley Passport Index, which ranks the passport power based on the total number of visa-free or visa-on-arrival destinations available to holders worldwide.
HCMC – The Government is working toward stabilizing macroeconomic conditions, curbing inflation and spurring growth this year, with a focus on restructuring the securities and real estate markets.
Prime Minister Pham Minh Chinh arrived in Vientiane yesterday for his official visit to Laos at the invitation of his Lao counterpart Sonexay Siphandone.
Vietnam’s wood exporting firms will encounter challenges in shipping their products to the European Union (EU) market when the EU’s new regulations banning the import of agro-products linked to deforestation are approved in the coming time.
The Department for Roads of Vietnam has informed the Ministry of Transport of its decision to suspend toll collection this Friday, from 7 a.m., on National Highway 51 which links Dong Nai and Ba Ria-Vung Tau provinces, reported the local media.
XBB, a new Omicron subvariant, has been found in HCMC and neighboring Tay Ninh Province.
Having served as chairman of Hoa Binh Construction Group JSC for 35 years, Le Viet Hai decided in mid-December of 2022 to step down as from early this year but later rolled back his decision.
Vietnam Railways now has over 160 locomotives and 500 train cars whose lifespans are set to expire in 2023, putting the sector at risk of failing to meet the travel demands.
National Assembly deputies this afternoon overwhelmingly voted for a resolution approving the prime minister’s proposal to appoint Tran Hong Ha and Tran Luu Quang as new deputy prime ministers, replacing Pham Binh Minh and Vu Duc Dam.
Swire Coca-Cola Limited, a wholly-owned subsidiary of Swire Pacific Limited, has announced the completion of its acquisition of Coca-Cola Beverages Vietnam Limited.
Party General Secretary Nguyen Phu Trong attended the Government’s teleconference with centrally-governed provinces and cities yesterday, to review the nation’s socio-economic performance in 2022 and discuss development plans for this year.
Vietnam’s consumer price index (CPI) in 2022 rose 3.15% year-on-year, lower than the National Assembly target of 4%, according to the General Statistics Office (GSO).
Here’s a look back at 10 key economic events in Vietnam in 2022 selected by the Saigon Times Group.
Permanent Deputy Prime Minister Pham Binh Minh has lost his membership of the Politburo and of the Party Central Committee while Deputy Prime Minister Vu Duc Dam is no longer a member of the Party Central Committee.
Vietnam’s gross domestic product (GDP) expanded by an astounding 8.02% in 2022, the highest growth rate since 2011, according to the General Statistics Office.
Vietnamese businesses poured nearly US$534 million into their projects abroad in 2022, a sharp increase over last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
The Project Management Board No.6 under the Ministry of Transport held a contract signing ceremony for three construction packages of the Vung Ang-Bung and Bung-Van Ninh sections on phase two of the North-South Expressway project.
Tigerair Taiwan has launched an air route linking the Taoyuan international airport in Taiwan and the Danang international airport, making it the third in Taiwan to open a non-stop air service to Danang City since Vietnam fully reopened its airspace in March.
The Hanoi People’s Procuracy on December 24 proposed sentencing Nguyen Thi Thanh Nhan, former chairwoman of Advanced International JSC (AIC), to 30 years behind bars for her alleged violations linked to the Dong Nai General Hospital project and AIC.
Deputy Prime Minister Le Minh Khai has signed a resolution on key measures to enhance logistics services in Vietnam.
Vietjet Air, Vietnam’s low-cost carrier, has resumed two direct flight routes from the cities of Dalat and Can Tho to Seoul, the capital of South Korea, since December 22, just in time for the Christmas holiday.
Police at the Ministry of Public Security (MPS) have arrested Vu Hong Nam, who used to serve as deputy foreign minister and ambassador to Japan, on alleged charges of involvement in scandalous Covid repatriation flights.
State President Nguyen Xuan Phuc arrived in Jakarta yesterday, beginning a three-day State visit to Indonesia, reported the Vietnam News Agency.
The tra fish export revenue this year is expected to set a new record of US$2.4 billion, soaring by 70% over 2021, according to the Vietnam Directorate of Fisheries under the Ministry of Agriculture and Rural Development.
Made-in-Vietnam products, including Vietnam’s agro-aqua products, have become more popular in the UK market during the last two years, backed by the efforts of Vietnamese exporters and the United Kingdom Vietnam Free Trade Agreement (UKVFTA) with official validity as of May 1, 2021.
The Airports Corporation of Vietnam (ACV) has decided to cancel a VND35.2-trillion bidding package under the Long Thanh International Airport project, citing ineligible bidding documents.
The number of cars imported into Vietnam last month soared sharply, driven by the strong domestic demand.
HCMC has the potential to develop passenger transport in combination with waterway tourism, so it is seeking to build appropriate products to exploit this advantage.
The total budget revenue of Hanoi City this year is expected to hit VND300,000 billion, or 107.9% of the year’s target, according to the city’s tax department.
Irregularities in the allocation of three land lots have led to a vice chairman of Binh Thuan Province and six others being detained.
Vietnam Airlines (VNA) has reopened regular flights between the capital city of Hanoi and Hong Kong to meet the high travel demand.
Prime Minister Pham Minh Chinh has proposed the Netherlands help Vietnam develop a Brainport hi-tech center in Hanoi City.
HCMC plans to obtain revenue of VND470,000 billion in 2023, up 21% from this year, according to a resolution on the state budget collection estimate and HCMC’s expenditure next year.
In the context of disrupted cash flows and restricted access to capital, the corporate circle is rolling up its sleeves to drastically restructure its operations and financial situation to eliminate hardships, step by step.
Cracking the whip against delayed projects, HCMC canceled 169 out of 357 long-delayed housing projects
Though the tax revenue from the real estate industry has exceeded the year’s goal, it has kept sliding since June.
The Ministry of Finance has sought to keep the environmental protection tax on fuels at the lowest levels, proposing the Government submit a draft resolution to this effect to the National Assembly’s Standing Committee.
Vietnam and South Korea have upgraded their relations to a comprehensive strategic partnership, paving the way for stronger cooperation between the two countries in the years to come.
The State Bank of Vietnam (SBV) decided last night to increase the credit growth limit for this year by 1.5 to 2.0 percentage points, reversing its persistent stance on loan growth.
The Ministry of Industry and Trade has drawn up two scenarios for the minimum fuel supply in 2023, requiring key fuel enterprises to increase the overall figure by 10-15% in 2023.
The HCMC Department of Natural Resources and Environment is expected to set compensation rates for households affected by the Beltway No. 3 project, which would range from VND18.7 million to VND40.1 million per square meter.
The southern province of Binh Duong has inked a cooperation memorandum with Truong Hai Auto Corporation (THACO) for the establishment of an engineering supporting zone costing VND26,000 billion.
HCMC’s gross regional domestic product is estimated to rise by over 9% this year, well above the target of 6%-6.5%, showing the city’s strong post-Covid recovery, heard a conference held by the Standing Board of the HCMC Party Committee on November 30.
HCMC – Vietnam will not pursue economic growth at the expense of the environment, Prime Minister Pham Minh Chinh told the Green Economy Forum & Exhibition 2022 (GEFE 2022) in HCMC on November 28.
The number of orders and the export value of the aquatic products sector have plunged dramatically, though the year-end season usually witnesses a spike in demand.
Southeastern provinces have attracted more than US$10 billion and VND5 trillion from 20 investment projects in fields such as oil refining, electronics, industrial park infrastructure, tourism and urban development.
The Ministry of Industry and Trade (MOIT) has written to the prime minister proposing amending Decree 107/2018/ND-CP on rice exports.
The HCMC Institute for Development Studies (HIDS) has envisioned three scenarios for the city’s 2023 economic growth, with all projected at 7% or higher despite economic uncertainties likely to continue into next year.
Increasing interest rates are forcing homebuyers to make difficult decisions, including selling their homes to pay off their mortgages.
The Saigon Times, an English news site of the Saigon Times Group, has wrapped up its Saigon Times CSR 2022 program, with 40 enterprises chosen for being honored for their significant contributions to the society and the community.
A fall in new orders has forced PouYuen Vietnam, a major footwear manufacturer of Taiwan, to require 20,000 of its employees to take paid leave in rotation for three months, according to the HCMC Labor Confederation.
Bac Lieu Province has opted for a green growth and sustainable model to restructure its economy in recent years, aiming to become a renewable-energy center in the Mekong Delta region and the country.
VinES Energy Solution JSC, a unit of Vingroup, broke ground on the first phase of the lithium battery facility at the Vung Ang economic zone on November 18.
A sales plunge, delayed payments and a credit crunch have led to a capital shortfall among businesses, especially as the new year approaches.
The police in the northern province of Hai Duong recently detained Le Thanh Long, chairman of Vicem Hoang Thach Cement Company Limited.
The HCMC Department of Construction will team up with relevant departments and agencies to remove hindrances the old apartment buildings in the city relating to house rent calculation, temporary residence arrangement, compensation for rehabilitation and calling for investment.
President Nguyen Xuan Phuc, his spouse and a high-ranking delegation began their four-day official visit to Thailand yesterday morning and will attend the APEC Summit 2022 in Bangkok from November 16 to 19.
Steel output and consumption have plunged in recent months, and the situation is predicted to linger until the second quarter of next year.
Prime Minister of New Zealand Jacinda Ardern yesterday, November 14, met with three top Vietnamese leaders after her talks with her Vietnamese counterpart Pham Minh Chinh.
German Chancellor Olaf Scholz yesterday met General Secretary of the Communist Party of Vietnam Nguyen Phu Trong and held talks with his Vietnamese counterpart Pham Minh Chinh, reported the local media.
HCMC, the nation’s economic center, has seen 51 producers in 17 processing zones and industrial parks reporting an order shortfall, which has forced many of them to resort to mass layoffs.
A tight oil supply caused by Western sanctions against Russian exports and a surging demand for oil products of the EU have been blamed for Vietnam’s ongoing fuel shortages.
HCMC – The Ministry of Transport has ordered four sections of the North-South expressway project be opened to traffic before December 31 this year.
HCMC – The HCMC Transport Department has sent a report to the municipal government on completing the urban railway system following the Transit Oriented Development (TOD) model.
Prime Minister Pham Minh Chinh arrived in Phnom Penh yesterday, starting his first official visit to Cambodia since taking office at the invitation of his Cambodian counterpart, Samdech Techo Hun Sen.
HCMC – The Ministry of Planning and Investment has thrown its weight behind a North-South express railway with a maximum speed of 180-250 km per hour as proposed by the Ministry of Transport.
The Ministry of Industry and Trade has ordered the market surveillance force to inspect those gas stations that have suspended operations and strictly deal with violations, if any, reported the local media.
Over 2.35 million international tourists traveled to Vietnam between January and October, a year-on-year surge of 18.8-fold, according to statistics from the General Statistics Office of Vietnam.
Vietnam’s economy has seen strong recovery this year, according to data from the General Statistics Office of Vietnam.
The Hanoi Department of Planning and Investment has announced the freezing of assets of 762 companies in connection with Van Thinh Phat Holdings Group Corporation, whose chairwoman Truong My Lan was detained early last month over alleged appropriation of assets.
Many local banks have released their business results, which indicate huge third-quarter profits.
Domestic fuel retail prices were revised up VND120-410 per liter or kilogram on November 1, according to an announcement jointly issued by the ministries of Industry-Trade and Finance.
Vietnam’s Party General Secretary Nguyen Phu Trong arrived in Beijing on Sunday, starting his official visit to China at the invitation of Party General Secretary and President of China Xi Jinping.
Vingroup chairman Pham Nhat Vuong is not on the no-fly list, said Lieutenant General To An Xo, office chief and spokesperson of the Ministry of Public Security (MPS), effectively rejecting recent rumors about this matter as false.
The real estate market remained unstable in January-September this year, with social housing and low-cost commercial apartments still in short supply, according to the Ministry of Construction.
The police have detained a staff member at the Party Central Committee’s External Relations Commission and the director of a tourism company for their alleged involvement in the Covid repatriation flight scandal.
Minister of Transport Nguyen Van Thang has ordered the speedy disbursement of over VND20 trillion before the new year.
The HCMC Department of Industry and Trade has floated a proposal to regulate the opening hours of gas stations in the city following the recent closures of multiple gas stations.
General Secretary of the Communist Party of Vietnam Central Committee (CPVCC) Nguyen Phu Trong will pay an official visit to China from October 30 to November 2, reported the Vietnam news agency.
The State Bank of Vietnam (SBV), the central bank of the nation, announced last night that key interest rates would be hiked by one percentage point, with effect from today.
Party General Secretary Nguyen Phu Trong has emphasized the especially important role of the southeastern part of Vietnam in the nation’s development, saying it is the growth engine of the national economy.
Thirty projects invested overseas by State-run enterprises racked up total losses of US$335.5 million in 2021, up 42% year-on-year.
The Ministries of Finance and Industry-Trade decided to revise up fuel prices from 3 p.m. on October 21, the second increase after four straight cuts.
Prime Minister Pham Minh Chinh told the Ministry of Industry and Trade to make stronger efforts to stabilize the fuel market and ensure the operation of fuel retailers and gas stations, according to a document issued by the Government Office on October 19.
State President Nguyen Xuan Phuc suggested Vietnam and South Korea strive to raise two-way trade to US$100 billion by 2023 and US$150 billion by 2030.
Inadequate preparation, poor estimates in assessing total investments needed, and illogical surveys and approvals still exist in public investment projects, repeatedly causing cost overruns, the 15th National Assembly Supervisory Delegation said in a recent report.
Singaporean President Halimah Yacob has begun her State visit to Vietnam as the two countries are preparing to celebrate the 50th anniversary of their diplomatic ties and the 10th year of their strategic partnership in 2023.
The central bank decided this evening to put the Saigon Commercial Bank (SCB) under special surveillance as the bank has been struggling with difficulties, particularly mass cash withdrawals by clients.
Given negative news about Van Thinh Phat Holdings Group Corporation, Tan Viet Securities JSC, and the Saigon Commercial Bank (SCB), local stocks plunged in the final session of last week in the bearish market.
HCMC saw its industrial production index (IPI) in January-September increasing by 19.6% compared to the same period last year.
The Government has projected the country’s gross domestic product (GDP) growth at 6.5% in 2023, saying it is achievable despite challenges ahead.
The Ministry of Industry and Trade (MOIT) on October 12, held a news conference where the media mostly grilled the ministry over the temporary closures of many gas stations in southern Vietnam, especially HCMC, Dong Nai, Binh Phuoc, Can Tho and An Giang.
After having dropped four times in a row, fuel prices in the local market rose yesterday amid a domestic supply shortfall in many parts of the nation.
As Vietnamese are worried about their savings at commercial banks following the arrest of Van Thinh Phat Holdings Group Corporation chairwoman Truong My Lan who is suspected of having connection with the Saigon Commercial Joint Stock Bank (SCB), the central bank has reaffirmed that all their savings are protected.
HCMC had seen 54 gas stations suspending operations by Sunday night, October 9, due to fuel supply shortfalls, according to a report by the HCMC market surveillance agency.
The Hochiminh Stock Exchange started this week in bearish mood as the VN-Index hit its 20-month low at below 1,100 points on strong sell-off force on October 3, leading to downbeat investor sentiment.
The Ministry of Transport has written to the prime minister proposing upgrading and expanding six airports under the public-private partnership (PPP) format.
The Mekong Delta province of Kien Giang has suggested that the Ministry of Finance extend the pilot scheme that allow Vietnamese people to enter casinos on Phu Quoc Island until January 7, 2025.
Vietnam’s tourism industry has generated VND394.2 trillion in revenue in the year through September, equivalent to 78% of the same period of 2019 when the pre-Covid tourism sector was at its best, the Vietnam National Administration of Tourism (VNAT) reported.
Prices of Vietnamese rice surged in the global and domestic markets after India announced restrictions on broken rice exports and a 20% duty on exports of various other types.
HCMC confirmed its first monkeypox case today and reported it to the Health Ministry, said the HCMC Health Department at a briefing about the epidemic situation and key activities of the fourth quarter of 2022.
Work on the Nguyen Van Linh-Nguyen Huu Tho underpass project in District 7, HCMC has been temporarily suspended.
Super Typhoon Noru, one of the four strongest storms in 20 years, made landfall in the central region of Vietnam at daybreak on Wednesday, September 28, toppling trees, damaging houses and construction works, blowing away roofs and causing flooding.
Vietnam’s gross domestic product (GDP) in the third quarter of the year is forecast to grow a staggering 13.67% versus the year-ago period, according to data of the General Statistics Office.
Vietnam’s Consumer Price Index (CPI) in the third quarter of this year inched up 3.32% against the same period last year, according to data released by the General Statistics Office (GSO) on September 29.
Deputy Foreign Minister To Anh Dung and Nguyen Quang Linh, assistant to the Permanent Deputy Prime Minister, have been dismissed following their arrests and expulsion from the Communist Party of Vietnam.
Many banks have hiked interest rates for savings in all tenors since the State Bank of Vietnam increased key interest rates and interest rate caps on deposits last week.
VinES Energy Solutions JSC, a unit of Vingroup, has got the nod from the Ha Tinh government to develop a lithium battery facility at the Vung Ang economic zone, with a total investment of VND6.3 trillion, according to the provincial economic zone management board.
The HCMC Department of Transport will relocate 79 interprovincial bus routes from the old Mien Dong coach station to the new one in Thu Duc City during the second phase of the new station’s operations beginning October 11.
Despite the recent difficulties, Vietnam’s import-export value almost hit US$500 billion in the first eight months of the year and is expected to rise to US$800 billion by year-end.
The State Bank of Vietnam (SBV), the nation’s central bank, has decided to hike key interest rates by one percentage point, with effect from September 23.
The Vietnam Electricity Group (EVN) has refused to assume the responsibility for holding pricing negotiations with the renewable power plants which have been ineligible to enjoy the Feed-in Tariff (FIT) mechanism.
Many listed property companies have released their first-half financial reports that showed they made profits despite their negative cash flows.
The Ministry of Transport has told the My Thuan Project Management Board to speed up work on the My Thuan-Can Tho expressway project so that the road can be put into operation before the end of April next year.
Many actions have been taken, including an amendment to the lending procedures and policies, to remove difficulties in loan disbursement from the financial aid package with an interest rate discount of two percentage points.
The prime minister has signed a resolution ordering the authorities at all levels to abandon the requirement that residents produce their household registration books for civil transactions and administrative procedures.
Vietnam’s Trade Office in India has urged Vietnamese rice importers to contact their Indian sellers to check the status of delivery and re-negotiate with their partners over rice purchases, as India has imposed restrictions on rice exports.
Japan overtook the United States as the largest importer of Vietnam’s seafood in August.
Vietnam’s overall online retail sales hit US$13.7 billion in 2021, up US$1.9 billion over 2020, according to the Vietnam E-commerce White Book 2022 released by the Vietnam e-Commerce and Digital Economy Agency.
The Ministry of Transport has urged the relevant parties to speed up work on the under-construction Long Thanh International Airport, so that the first phase of the project can be put into operation to celebrate National Day on September 2, 2025.
The Immigration Department will add the birthplace information to Vietnam’s newly designed passports starting from September 15, according to the Ministry of Public Security (MPS).
Domestic fuel retail prices were revised down over VND1,000 per liter on September 12, according to an announcement jointly issued by the ministries of Industry-Trade and Finance.
The Saigon Hi-Tech Park (SHTP) has generated over US$10 billion from foreign direct investment (FDI), rising further to US$12 billion, including domestic investment.
Around three million Vietnamese and foreigners traveled in the country during the four-day National Day holiday, from September 1 to 4.
New daily Covid-19 infections from September 6 to 8 exceeded 3,000 cases, double the average of the previous weeks.
The Ministry of Health has eased the Covid mask mandate but it remains intact in high-risk areas and public spaces.
The Vietnam National Petroleum Group (Petrolimex) has written to the Ministries of Industry-Trade and Finance over the risk of a partial petrol shortage and proposed the authorities make a due cost adjustment to compensate overruns.
The prime minister has asked the relevant ministries and agencies to quickly deal with a shortage of medical supplies plaguing many cities and provinces so health examinations and treatment can continue without hindrance.
Vietnam’s industrial production is roaring back as the country saw the industrial production index (IPI) in August rise by 2.9% month-on-month and 15.6% year-on-year, according to the General Statistics Office.
The Tourism Information Technology Center (TITC) under the Vietnam National Administration of Tourism (VNAT) said in a recent report that the domestic tourism market has fully recovered
Revenue of the accommodation, catering industry and travel sectors amounted to VND56.8 trillion this August, taking the total to VND393.2 trillion in the year to date, showed data of the General Statistics Office (GSO).
A one-hour-long downpour on September 1 flooded many streets and areas in Dalat City, causing chaos.
The Hochiminh Stock Exchange (HOSE) has decided to suspend the FLC Group (FLC) and its affiliate, HAI Agrochem JSC (HAI), from trading their shares due to information disclosure violations, with effect from September 9.
In the first eight months of this year, Vietnam saw around 150,000 newly-registered and re-operational businesses, up 31.1% year-on-year, according to the Ministry of Planning and Investment.
Vietnam’s consumer price index (CPI) in August has risen a fractional 0.005% month-on-month, according to data of the General Statistics of Vietnam (GSO).
The central bank governor has said the remaining room of the 14% credit growth target for this year would be adjusted up to allow banks to lend to clients.
During a meeting with the relevant departments on August 26, the Ministry of Industry and Trade asserted the current fuel supply could fully meet the demand for domestic consumption.
The Civil Aviation Authority of Vietnam (CAAV) has taken back several landing and take-off slots from Vietnam Airlines Group, comprising Vietnam Airlines, Pacific Airlines and VASCO.
The Government has urged the Ministry of Transport to consider proposals to develop the second phase of the HCMC-Trung Luong and Trung Luong-My Thuan expressways.
Dong Nai Province has proposed extending HCMC’s Ben Thanh-Suoi Tien metro line to the Bien Hoa 1 Industrial Park in the province’s Bien Hoa City.
HCMC has decided to suspend the symphony, opera and ballet theater project worth thousands of billions of Vietnamese dong in the Thu Thiem New Urban Area to focus resources on social welfare and the post-pandemic economic recovery.
The German Embassy on August 22 announced it would temporarily recognize Vietnam’s new blue-violet passport provided that information about the holder’s birthplace is added.
The Vietnam Automobile Manufacturers’ Association (VAMA) has written to the Government proposing lowering the excise tax and registration fee on hybrid electric and plug-in hybrid electric vehicles.
Taiwan’s Hon Hai Technology Group (Foxconn) will invest US$300 million in the construction of a new factory in Bac Giang, expanding its ability to supply Apple computers and phones.
The tuition fees at universities in HCMC in the 2022-2023 academic year vary greatly, costing students VND12-800 million each year depending on majors and universities.
National flag carrier Vietnam Airlines (VNA) is planning to offer more than 400,000 seats to meet the rising travel demand during the upcoming four-day national holiday early next month.
The International Travel Expo in HCMC, the largest travel exhibition in Vietnam, will be held at the Saigon Exhibition and Convention Center (SECC) in District 7 in September.
To protect customers, the authorities have asked Grab and other ride-hailing firms to follow the information disclosure requirements when they apply new surcharges.
Many high-ranking officials have been disciplined, dismissed and even prosecuted for land irregularities.
The Ministry of Transport will send the Politburo a major project to develop a high-speed railway connecting the north and south of the country in September.
The number of vehicles using electronic toll collection (ETC) service has surged since early August, so HCMC plans to phase out toll collection by cash.
Bad debt in the real estate sector is projected to surge as property bonds worth over VND207.8 trillion will fall due in 2023 and 2024.
Following a 42% drop in sales in June due to the removal of the 50% registration tax cut, Vietnam’s auto market in July saw an increase of 20% compared to the previous month.
The Directorate for Roads of Vietnam has ordered two electronic toll collection (ETC) service providers to distribute sufficient tags to vehicles and deal with any problems faced by road users before August 15.
The HCMC government has asked the municipal Department of Transport to step up procedures to develop the Saigon River-Thay Cai Canal section of the Beltway No. 4 project under the public-private partnership format.
The Government has given the nod to halve the most-favored-nation (MFN) import tariff on unleaded gasoline to 10% from the current 20%.
The Spanish Embassy in Vietnam announced on August 8 that newly designed passports of Vietnam will be recognized in Spain as they contain essential information in accordance with international regulations.
South Korea’s Samsung has said it is planning to manufacture transistor grids and open a research and development (R&D) center in Vietnam.
Prime Minister Pham Minh Chinh has told the Ministry of Public Security to find ways to deal with the non-recognition of Vietnam’s newly-designed passports by three European Union countries.
Vietnam imported petroleum products worth US$5 billion the first half of the year, surging by 128% year on year.
Some 50 Indian firms are participating in the expos of four industries, coatings, rubber, paper and plastic, which began in HCMC on August 3, to seek business and investment opportunities in the city.
Vietnam’s Ministry of Public Security has said it is considering adding the Place of Birth (POB) field to newly designed blue-violet passports after three European Union countries have declined to recognize these passports.
The Spanish Embassy has announced a temporary suspension on issuing Schengen visas to Vietnamese who hold new blue-violet passports due to the lack of the holder’s birthplace field in the passports.
Vietnam’s total import-export turnover of agricultural-forestry-fishery products in the year to July reached an estimated US$58.9 billion, up 7.2% against the same period last year, according to data from the Ministry of Agriculture and Rural Development.
Nguyen Manh Quan has been appointed as new general director of local carrier Bamboo Airways JSC, with effect from July 27, replacing Dang Tat Thang, according to the carrier’s announcement on July 29.
A mere 25% of small and medium enterprises (SMEs) have gained access to formal credit, while many others are struggling with their poor financial situation.
Hanoi City received an estimated 10.62 million visitors between January and July, a year-on-year increase of 3.6-fold, fulfilling its target for the entire year, according to the municipal Department of Tourism.
During a working session at the Ben Thanh Station and Ba Son Station of the HCMC metro line No.1 on July 27, Prime Minister Pham Minh Chinh underlined the need to reduce administrative procedures while implementing the next ODA projects to speed up the pace.
Vietnam expects to phase out fossil fuel-powered vehicles by 2040 through steps to restrict and then stop manufacturing, assembling and importing vehicles running on fossil fuels and switching to electric vehicles.
Tran Van Du, former deputy head of the Immigration Department under the Ministry of Public Security, and five others have been detained for allegedly taking and giving bribes linked to the arrangement of Covid repatriation flights.
The HCMC health authority will tighten the screening of those traveling to the city by air or sea to early detect suspected monkeypox cases, as part of the city’s coping plan amid the spike in monkeypox infections in many countries, especially in Asia.
The Party secretary of Hoa Binh Province in northern Vietnam, Ngo Van Tuan, has been picked as deputy auditor general in charge of the State Audit of Vietnam (SAV), said a report on the news website of the National Assembly.
High inflation in the United States could impact Vietnamese textile and garment exporters although their shipments there in the first half of 2022 grew by 22% year-on-year to US$9.3 billion, accounting for over 50% of the country’s total apparel exports.
The country is seeing a surplus of 21.5 million Covid vaccine doses, the National Institute of Hygiene and Epidemiology (NIHE) told a teleconference on the fight against Covid on July 21.
Domestic fuel retail prices were cut by some 10% at 3 p.m. on July 21, according to an announcement jointly issued by the ministries of Industry-Trade and Finance.
Local gold prices have fluctuated strongly over the past few days as global recession worries have kept investors from rushing to gold as a safe haven.
The installation of Electronic Toll Collection (ETC) systems on the HCMC-Long Thanh-Dau Giay expressway has been basically completed, paving the way for the start early next month of ETC lane operations on this oft-congested road.
Masan Group is set to spend VND3.5 trillion (US$149.5 million) developing a food industry center in Chau Thanh District in the Mekong Delta province of Hau Giang.
The nearly-US$2-billion Song Hau 1 thermo-power station was inaugurated on July 16, in the Mekong Delta province of Hau Giang.
The Government has taken a slew of measures to handle long-stalled projects, including asking cities and provinces to take back land from these projects.
South Korea’s Kumho Engineering & Construction Co. will build the Nhon Trach bridge, which will link HCMC and neighboring Dong Nai Province, and an access road at a total cost of VND1.81 trillion.
Standard Chartered Bank has forecast Vietnam’s inflation at 4.2% this year, above the target of below 4% approved by the National Assembly.
Vietnam imported over 63,730 completely-built-up (CBU) cars worth some US$1.6 billion between January and June, dipping by 21.4% in volume and 14.4% in value year-on-year, according to data of the General Department of Vietnam Customs.
The VIC, VHM, VRE stocks of the Vingroup family fell sharply yesterday morning after a rumor about an overseas travel ban on Vingroup chairman Pham Nhat Vuong had been circulating on social media. However, they regained ground after the Ministry of Public Security dismissed the rumor as false.
The Government Inspectorate has formed an inspection team to examine the management of fuel trading and asked the relevant ministries and departments to report on the use of the fuel price stabilization fund.
The average capital of businesses set up nationwide the first half of the year dropped 17.7% year-on-year at VND11.6 billion each.
The upgrade of stations along rail roads in northern Vietnam will cost an estimated VND475 billion, according to the Railway Project Management Unit (PMU) under the Ministry of Transport.
The HCMC Tax Department has proposed cancelling the results of the Thu Thiem land auctions held late last year, citing the failures of the auction winners to make payments as regulated.
Vinhomes JSC (VHM) has announced it has transferred its entire stake in Vinpearl Landmark 81 JSC to Vinpearl JSC, meaning that Vinhomes is no longer the stakeholder and parent company of Vinpearl Landmark 81.
All residents should stay on high alert for Covid and must not be heedless of Covid vaccination, Prime Minister Pham Minh Chinh, head of the national steering committee for Covid prevention and control, told the committee’s 15th meeting on July 5.
European companies’ confidence in Vietnam’s business environment declined slightly in the second quarter of the year amid the global economic uncertainty.
The HCMC government has proposed the State Audit of Vietnam (SAV) audit a road project connecting Vo Van Kiet Avenue and the HCMC-Trung Luong Expressway this year to complete procedures to end a BOT contract for the project ahead of time.
Local residents and enterprises are struggling with the rising prices of fuels and input materials, so many experts have proposed cutting taxes on fuels to support the country’s economic growth.
Domestic gasoline retail prices have been revised down by VND110-410 per liter after having risen seven consecutive times, according to an announcement jointly issued by the ministries of Industry-Trade and Finance on July 1.
The Ministry of Finance has proposed reducing the excise and value added taxes on fuels amid rising fuel prices.
Vietnam’s gross domestic product (GDP) expanded 7.72% in the second quarter of this year, the highest for the quarter since 2011, according to the General Statistics Office.
Due to rising airfares, domestic tours are more expensive than outbound tours, according to the Vietnam Tourism Association.
Deputy Prime Minister Le Van Thanh has asked the Ministry of Transport and localities where the eastern North-South Expressway project in the 2021-2025 period will pass through to award no-bid contracts to companies involved in some packages of the project.
Airlines have been continuously increasing airfares due to soaring fuel prices and the strong travel demand in the summer season.
Airfares for flights to tourist destinations in Asian, European and American countries have soared by 20%-35% against the pre-pandemic levels.
Phu Quoc, an island city off the Mekong Delta province of Kien Giang, is looking to serve some 15 million visitors per year by 2040, it was announced at a conference held in the city on June 24.
A Korean Air flight transporting over 200 passengers from the Incheon international airport landed in Danang City on June 22, marking the South Korean largest airline’s resumption of the direct air route to Danang City after a hiatus of two years due to the Covid pandemic.
The State Bank of Vietnam (SBV) will likely pump more foreign currencies this year to keep the forex market stable as the recent interest rate hike by the U.S. Fed is piling pressure on the domestic market.
The domestic fuel retail prices have been revised up for the seventh straight time this year, according to an announcement jointly issued by the ministries of Industry-Trade and Finance at 3:00 p.m. on June 21.
The Ministry of Finance has proposed cutting the environmental protection tax on gasoline by half to VND1,000 per liter and other fuels by 30-70% as the rising fuel prices are weighing on Vietnam’s economy.
The HCMC Department of Transport has proposed that a 33-kilometer section of the HCMC-Can Tho express railway in HCMC should have elevated tracks to facilitate the project’s execution.
The U.S. Department of Treasury has placed Vietnam on its currency monitoring list as Vietnam had a high trade surplus with America in 2021.
The Ministry of Industry and Trade has said it is planning to boost national fuel reserves to 30 days of domestic consumption amid global oil market volatility.
The National Assembly (NA) on June 16, adopted a resolution approving the Beltway No. 3 project in southern Vietnam, with 475 of 478 NA deputies voting in favor.
The Ministry of Finance has proposed the Government eliminate the fuel price stabilization fund so that fuel prices can be fully regulated by market forces.
HCMC has paid over VND90 billion of the total amount to build 56 Covid field hospitals, but still owes VND193 billion to contractors.
The price of the high-grade RON95 gasoline climbed by VND800 per liter to a fresh record of VND32,270 a liter on June 13, while other fuels jumped by over VND2,000 per liter.
A hi-tech agricultural park covering over 100 hectares has got off the ground in Cu M’gar District in the Central Highlands province of Daklak, with a total investment of more than VND700 billion.
The Ministry of Finance has said tech giants like Google, Facebook and Microsoft paid more than VND4.5 trillion in taxes from 2018 to April this year.
The Government has approved a banking sector restructuring and bad debt settlement plan in which the handling of poor-performing commercial banks will be basically completed by 2025.
Deputy Prime Minister Le Minh Khai has asked the HCMC government to propose the municipal People’s Council consider adjusting the fees for using infrastructure facilities and public services at seaports in July.
The Beltway No. 3 project, which will connect HCMC, Binh Duong, Dong Nai and Long An, will get priority access to funding so that it can be completed by 2025 and opened to traffic in 2026, said National Assembly (NA) Chairman Vuong Dinh Hue.
Nguyen Thanh Long, Chu Ngoc Anh, and Pham Cong Tac, who have been removed from the posts of Minister of Health, chairman of Hanoi City and Deputy Minister of Science and Technology, respectively, have been arrested for their alleged involvement in Viet A Technology Corporation’s price gouging of Covid-19 test kits.
At its extraordinary meeting in Hanoi in the afternoon today, June 6, the Party Central Committee decided to dispel Health Minister Nguyen Thanh Long and Hanoi City Chairman Chu Ngoc Anh from the Communist Party of Vietnam.
Due to serious violations of Party and State rules, Hanoi City Chairman Chu Ngoc Anh and Health Minister Nguyen Thanh Long will face disciplinary measures while Deputy Minister of Science and Technology Pham Cong Tac has lost Party membership.
Many firms, such as Kia, Mazda, Peugeot and Toyota, have delivered cars to customers before the registration fee cut for locally manufactured or assembled autos comes to an end on May 31.
The local property market has witnessed a short supply of homes in all segments, especially the budget-home segment, as there are no new projects on the market.
Vingroup has signed a memorandum of understanding with Intel to create a wide range of advanced computing systems.
Around 450 delegates from more than 200 international aviation organizations will gather in the central beach city of Danang next week.
A hike in prices of fuels, food and foodstuffs, and necessities has resulted in Vietnam’s consumer price index (CPI) this month rising by 0.38% month-on-month, according to the General Statistics Office.
Intel will expand its business and investment activities in Vietnam in the future, Intel CEO Patrick Gelsinger said at a meeting with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on May 27.
The National Assembly at its ongoing third session in Hanoi has discussed five major traffic infrastructure projects, among other important issues.
The Ministry of Planning and Investment has requested localities to report the execution of large foreign direct investment (FDI) projects that need significant investment and use large land lots.
Anticipating that travel demand during the upcoming summer will rise sharply, and even higher than the pre-pandemic levels, local carriers are offering millions of air tickets.
Nguyen Huynh, deputy head of the Drug Price Management Division at the Drug Administration of Vietnam under the Ministry of Health, has been detained for his alleged involvement in the Viet A test kit price gouging case.
The 200-kilometer Beltway No. 4 project, which will pass through HCMC, Binh Duong, Long An, Dong Nai and Ba Ria-Vung Tau, will get off the ground in 2024 with an estimated investment of VND100 trillion.
The Government has issued a decree extending excise tax payments totaling over VND20 trillion by local auto manufacturers and assemblers.
Vietnam Airlines reported a net loss of over VND2.6 trillion in the first quarter of 2022, sending the national flag carrier’s accumulated loss up to VND24.5 trillion, or over US$1 billion.
The Ministry of Finance has taken measures to deal with property transfers with artificially low prices so as to prevent tax losses. However, it is hard to determine the accurate prices of properties, thus slowing down property transactions.
The Ministry of Finance has removed Tran Van Dung from his position of chairman of the State Securities Commission (SSC) for his serious violations and shortcomings.
Former Deputy Minister of Health Truong Quoc Cuong was yesterday, May 19, sentenced to four years in jail in a fake cancer drug case.
The Ministry of Industry and Trade has decided to remove anti-dumping duties on coated steel imports from South Korea and China after five years of imposing the duty.
The Central Committee for Prevention and Control of Corruption and Negativism on May 16, announced a decision to inspect the Ministry of Health.
The police have sealed and taken away four expensive cars from the private residence of the former chairman of Halong City, Pham Hong Ha, who has been detained on alleged charges of graft.
As from Sunday, May 15, no Covid-19 testing will be required for all those entering Vietnam from abroad, thereby giving them a hassle-free travel experience.
Prime Minister Pham Minh Chinh has told the Ministry of Health to adjust Covid response measures as the pandemic has been brought under control nationwide.
Governmental agencies and businesses of Vietnam and the U.S. have signed multiple cooperation agreements, mainly on credit for green projects, with Prime Minister Pham Minh Chinh, who is in the United States to attend the ASEAN-US Special Summit, witnessing.
After Tan Hoang Minh’s nine bond issues had been canceled and its senior executives detained over this matter, and the Government had called for measures to cope with real estate firms’ debt issues, no property firms issued bonds in April.
The price of RON95 gasoline was revised up by VND1,550 a liter on May 11, to hit an all-time high, while bio-fuel E5 RON92 and other fuels rose by VND1,210-1,490 per liter or kilogram.
Vietnam’s Consumer Price Index (CPI) in April edged up 0.18% month-on-month, mostly due to the rising prices of building materials, according to the General Statistics Office.
New statistics show that Vietnam’s exports in April expanded a staggering 25% year-on-year at US$33.26 billion while imports reached US$32.19 billion, up 15.5%.
Thang Long, the largest single-body high-speed ship in Vietnam, has been launched and will ply the Vung Tau-Con Dao waterway route next month, offering tourists a new means of travel between mainland Vung Tau and Con Dao Island.
The four-day national holiday of Reunification Day (April 30) and International Labor Day (May 1) helped many provinces earn huge revenue from tourism after more than two difficult years.
The Ministry of Transport has asked HCMC and Dong Nai Province to hand over cleared land this month to start work on the Tan Van-Nhon Trach section of the Ring Road No. 3 project. The road will connect HCMC, Binh Duong, Dong Nai and Long An.
Commercial banks are rushing to increase deposit rates to speed up their capital mobilization.
Vietnam’s agro-forestry-fishery export revenue between January and April reached US$17.9 billion, up 15.6% year-on-year, while the import value of these products amounted to some US$13.9 billion, down 2.3%, resulting in a trade surplus of US$4 billion, a year-on-year increase of 3.2-fold, according to the Ministry of Agriculture and Rural Development.
After 57 property businesses in HCMC proposed removing obstacles to 64 housing projects, 29 others have made the same petition as their 38 commercial and social housing and resettlement projects are having trouble with procedures.
In his talks with his Japanese counterpart Kishida Fumio in Hanoi, Prime Minister Pham Minh Chinh said Vietnam considers Japan a leading important and reliable strategic partner as the two nations are deepening their ties, reported the Vietnam News Agency.
Phan Huy Anh Vu, director of the Department of Health of the southern province of Dong Nai, has been detained for allegedly violating bidding regulations.
Deputy Prime Minister Le Minh Khai has asked the Ministry of Finance to propose regulations to tax houses to cope with property speculation.
Foreigners can now use e-visas for entry into or exit from the country at the Van Don International Airport in Quang Ninh Province.
Credit institutions in HCMC must limit credit for property purchases to combat speculation in the city, said the inspectorate of the State Bank of Vietnam’s (SBV) HCMC Branch.
The Ministry of Health has sent an urgent dispatch to cities and provinces announcing the suspension of the on-arrival health declaration requirement at airports and other international border gates, starting April 27.
Do Duc Luu, director of the Center for Disease Control in Nam Dinh Province, and four senior officials of CDC Nam Dinh have been detained for alleged involvement in the Viet A test kit price gouging case, reported the local media.
A newly built bridge linking downtown HCMC and Thu Thiem Peninsula will be opened to traffic on Thursday, April 28, boosting connectivity between the central business district and the new urban area of Thu Thiem.
Three carriers under the Vietnam Airlines Group will add over 255 flights with over 50,000 seats to meet a spike in travels during the Reunification Day (30 April) and International Labor Day (1 May) holiday.
More than US$20 billion has been lost as the local stock market has taken a hit from a strong sell-off.
The HCMC Department of Transport has proposed developing more urban railways connecting to seaports and airports to meet the city’s development demand.
Vietnamese air carrier Bamboo Airways will increase domestic flights by 15% to meet the rising travel demand during the upcoming national holiday of Reunification Day (April 30) and International Labor Day (May 1).
Ministry of Public Security investigators have arrested four more business executives on alleged charges of stock market manipulation.
HCMC Chairman Phan Van Mai asked Thu Duc City to propose applying 70%-80% of the jurisdiction of a province as its special policies.
Dong Nai Province and neighboring Ba Ria-Vung Tau Province have committed to building a ring road simultaneously to improve connectivity, Tuoi Tre newspaper reports.
The Mekong Delta city of Can Tho is focusing on developing three major projects, namely an agricultural production linkage center, O Mon power generation center and the Vietnam-Singapore Industrial Park.
After trading sessions from April 10 to 12, the local stock market lost more than VND265 trillion, or over US$11.1 billion, following rumors about charges against leaders of some enterprises over their violations in corporate bond issuance.
The Ministry of Labor, Invalids and Social Affairs and the Australian Embassy in Vietnam on April 14 launched a project promoting the logistics industry’s tie-up with vocational education and training in Vietnam until 2025.
The Ministry of Public Security (MPS) has arrested Deputy Minister of Foreign Affairs To Anh Dung and two others on alleged charges of taking bribes.
Standard Chartered has predicted Vietnam’s inflation at 4.2% this year, exceeding the target of below 4% set by the National Assembly, and said it could be even higher in the following years.
The National Wage Council has approved raising the minimum regional wages by 6%, or VND180,000-260,000 per month, from July 1.
The Ministry of Transport has asked the investors and management boards of many traffic infrastructure projects for the 2021-2025 period to review these projects.
Huong Tran Kieu Dung, permanent vice chairwoman of FLC Group and chairwoman of BOS Securities Corporation, and Nguyen Quynh Anh, general director of BOS Securities Corporation, were arrested on April 8 for allegedly assisting former FLC chairman Trinh Van Quyet with manipulating the stock market.
Associations and firms have proposed suspending the collection of fees for using infrastructure facilities and public services at seaports in HCMC to facilitate their recovery and stimulate the economy.
Two more countries, Iran and Malaysia, have recognized Vietnam’s Covid vaccine passport, taking the total number to 19 so far, according to the Ministry of Foreign Affairs.
Hundreds of firms active in the tourism sector in HCMC are offering special promotional packages as HCMC has launched the “Welcome to HCMC” program to stimulate tourism demand after two years of disrupted travel induced by the Covid pandemic.
The World Bank has revised its forecast for Vietnam’s gross domestic product (GDP) growth this year to 5.3% from the 5.5% predicted early this year, based on Vietnam’s policies to cope with Covid-19, the manufacturing and processing sector’s performance and the domestic demand.
Investigators of the Ministry of Public Security arrested the chairman of Tan Hoang Minh Group and six senior executives of Tan Hoang Minh-affiliated companies on alleged fraud charges.
The Ministry of Finance has yet to agree to exempt the environmental protection tax on jet fuel as previously proposed by airlines.
As an undersupply of coal for thermo-power stations is looming, Vietnam is planning to annually import around five million tons of coal from Australia.
The local stock market has come under downward pressure since the high-profile FLC Group chairman, Trinh Van Quyet, was detained on Tuesday on alleged charges of stock market manipulation.
According to the Party Central Committee’s Inspection Commission, Minister of Health Nguyen Thanh Long and Hanoi Chairman Chu Ngoc Anh, who formerly served as Minister of Science and Technology, must take responsibility for their alleged involvement in Viet A Technology Corporation’s price gouging of Covid-19 test kits.
The Civil Aviation Authority of Vietnam (CAAV) will closely monitor Bamboo Airways, whose chairman Trinh Van Quyet has been detained on alleged charges of stock market manipulation, for three to six months.
A 38-kilometer light rail route will be built to connect Thu Thiem new urban area of HCMC with the under-construction Long Thanh International Airport in neighboring Dong Nai Province, with a total estimated cost of VND40.5 trillion (US$1.77 billion).
Ministry of Public Security investigators have just detained the high-profile FLC Group chairman, Trinh Van Quyet, on alleged charges of stock market manipulation.
The estimated cost of the Tan Van-Nhon Trach section of the Ring Road No. 3 project, which will connect HCMC, Binh Duong, Dong Nai and Long An, has risen by over VND1.6 trillion after six years of delays.
Over 320,000 international passengers flew to Vietnam in the first quarter of the year, soaring 176% year-on-year, according to a recent report sent by the Civil Aviation Authority of Vietnam to the Ministry of Transport.
Vietnam has achieved the mutual recognition of Covid vaccine passports with 17 countries, according to the Ministry of Foreign Affairs.
HCMC will officially begin collecting fees from users of infrastructure facilities and public services at seaport terminals in the city from April 1 after delaying the fee collection twice, said Nguyen Ngoc Tuan, director of the HCMC Inland Waterway Port Authority.
The National Assembly’s Standing Committee has passed a resolution to raise the cap on overtime from 40 to 60 hours per month and from 200 to 300 hours per year.
Vietnam Airlines announced on March 22 that it would temporarily suspend regular flights on the Hanoi-Moscow air route, starting from March 25 until further notice.
Vietnam has achieved the mutual recognition of Covid vaccine passports with 17 countries, according to the Ministry of Foreign Affairs.
Gasoline prices were revised down by VND630-650 a liter on March 21, while diesel oil was priced VND1,630 lower per liter, all far below earlier forecast of a price drop of some VND2,000 per liter.
The HCMC government has written to the Ministry of Planning and Investment proposing extending the implementation of six projects whose investment capital is listed in the 2021 State budget.
Due to the fuel price hike, many transport enterprises have been in a dilemma as they may lose customers if they raise the service prices; otherwise, they will incur heavy losses.
The Government will study how to remove Covid-19 from the list of class A infectious diseases, which are extremely dangerous, according to the anti-pandemic program in 2022-2023.
Housing investors who fail to deliver on their commitments to customers should be banned from developing new projects, proposed Nguyen Thi Thu Nga, deputy director of the HCMC Department of Construction.
Vietnam no longer requires aliens to take an on-arrival Covid-19 test and self-quarantine, according to the Ministry of Health’s new guidelines.
Over 14,100 foreign direct investment (FDI) firms, or 56% of the total in Vietnam, reported losses worth more than VND151 trillion in 2020, according to the Finance Ministry’s recent report sent to the prime minister.
South Korea, Indonesia and Singapore have relaxed entry restrictions for foreigners, including Vietnamese travelers, to speed up their reopening to the world.
Since early March, domestic steel prices have increased three times by an average of VND600,000-1.4 million per ton, worrying many contractors and slowing down the execution of many projects.
Vietnam’s gold price soared to an all-time high of some 74 million VND per tael on March 7, following the surge in the global price of the yellow metal.
Domestic fuel prices soared for the seventh straight time, amid global oil market volatility.
Vietnam Airlines, Vietjet Air and Bamboo Airways are set to resume more domestic and international air routes, add flights and launch new services to meet the rising travel demand as the country will fully reopen tourism on March 15.
Russian power engineering company Power Machines is seeking to withdraw from the billion-dollar Long Phu 1 thermal power plant project in Vietnam due to U.S. sanctions.
The local fuel price has skirted VND27,000 per liter of A95 gasoline after being adjusted on March 1, but traders say they are still incurring losses due to a spike in global prices and unstable supply.
The Ministry of Health has proposed allowing asymptomatic Covid patients and direct contacts of Covid cases to work during their quarantine period to avoid the wastefulness of manpower.
Singapore announced the vaccinated travel lane (VTL) for Vietnam on March 4, which will restore quarantine-free travel between the two countries from March 16.
The escalating Russia-Ukraine military conflict would result in disruptions in the supply chain and increase the production cost in Vietnam, some experts have warned.
The Ministry of Foreign Affairs has sent the Prime Minister a proposal to reinstate a visa waiver for international tourists to help the Covid-battered tourism industry recover.
A national master plan is being formulated to turn Vietnam into a developed and high-income country by 2045, said Minister of Planning and Investment Nguyen Chi Dung.
Vietnam has called on the relevant parties to end the armed conflict between Russia and Ukraine, use dialogue to resolve tension and guarantee the security and safety of the Ukrainian people.
The prime minister has urged the Ministry of Foreign Affairs to reinstate the visa waiver for international travelers to revive the country’s pandemic-battered tourism sector when tourism services for local and foreign visitors are fully reopened on March 15.
The worsening Russia-Ukraine crisis would result in disruptions in the supply chain and increase the production cost in Vietnam, some experts have warned.
Russia and Ukraine have shut down some of their airports, and restricted or closed parts of their airspace as well as air routes, the Civil Aviation Authority of Vietnam (CAAV) has said.
Some 3 million students of all grades, including more than 1.4 million kindergarteners, had to leave their in-person classes and returned to online learning as the country continued to witness a surge in new Covid infections.
The Vietnam Directorate for Roads is seeking over VND5.6 trillion in funding for upgrading three roads in the Mekong Delta— National Highway 62 in Long An, National Highway 53 passing through Tra Vinh and Vinh Long, and Nam Song Hau road.
Three Covid-19 antiviral drugs containing the molnupiravir active substance that have been approved by the Health Ministry recently will be priced in the range of VND8,675 and VND12,500 per pill, according to the ministry’s Drug Administration of Vietnam.
Prime Minister Pham Minh Chinh has ordered the Ministries of Finance and Industry-Trade to prepare a study on the reduction of environmental protection tax on oil and gasoline.
The Ministry of Health has issued a dispatch shortening the quarantine time of fully-vaccinated people who are in close contact with Covid cases or those who have recovered from the disease in the last three months to five days from the current seven days.
Despite the soaring prices of input materials, including fuel and construction steel, inflation will be well controlled and stand at under 4% this year, said Nguyen Thu Oanh, director of the Price Statistics Department under the General Statistics Office.
The HCMC Department of Health has told the grassroots authorities to review the healthcare system and improve the Covid treatment capacity to prepare for a potential coronavirus flare-up.
On February 16, the Government agreed to fully reopen the tourism sector from March 15, following a proposal by the Ministry of Culture, Sports and Tourism and other ministries and agencies.
Thick fog forced nearly 30 domestic and international flights heading to the Noi Bai International Airport in Hanoi City last night, February 17, to divert to other airports, including Van Don in Quang Ninh Province and Danang.
Vietnam Railway Corporation (VNR) has written to the relevant ministries and agencies proposing spending nearly VND2.4 trillion repairing and upgrading 41 railway stations in the 2022-2023 period.
The Ministries of Culture, Sports and Tourism, Health, Foreign Affairs, Transport and National Defense have jointly proposed fully reopening the tourism sector from March 15.
Deputy Prime Minister Le Van Thanh has ordered the Airports Corporation of Vietnam (ACV) to quickly establish a management board for the Long Thanh international airport project and report it to the prime minister before February 18.
Vietnam will reopen all regular international air routes as in the pre-pandemic period and will not limit the frequency of international flights from today, February 15.
HCMC has resumed dine-in services from October 28 after nearly five months of restrictions, but restaurants and coffee shops still have to comply with a number of anti-pandemic measures.
Foreign direct investment businesses in Hanoi City have proposed the municipal government stop requiring enterprises to let their workers stay at the factories after work.
HCMC has to some extent become bustling and busy again in the “new normal” after the municipal government allowed the resumption of a number of essential services and relaxed travel restrictions since early this month.
HCMC and other southern provinces are preparing for economic reopening as the Covid-safe situation has improved. Businesses in the region, however, are facing many challenges when resuming operations after a long hibernation.
In the context of the protracted Covid-19 pandemic, experts and business leaders have suggested that businesses should be better prepared to safely live with Covid-19.
Logistics firms are facing many challenges due to the Covid-19 pandemic, such as disruptions in the supply chain, stringent anti-pandemic measures and and a spike in operation cost.
The latest report of the General Statistics Office showed that the Covid-19 pandemic adversely affected economic activities in many parts of the country from January to August, with most economic indicators falling below expectation.
Many foreign-invested companies in HCMC, which is currently the country’s biggest Covid-19 hotspot, said they are facing numerous challenges as the city is undergoing the toughest social distancing period ever to curb the spread of the Covid-19 pandemic.
Businesses in major cities such as HCMC and Hanoi are showing concern over the shortage of human resources post Covid-19, which will hamper their recovery.
Many manufacturing enterprises in Covid-19-hit localities reported that they are facing difficulties maintaining the stay-at-work mode as required by the authorities.
Despite stringent social distancing measures,the Covid-19 pandemic is still developing complicatedly, forcing many businesses to close down or suffer from hefty losses. Therefore, the Government has rolled out a number of supporting policies to help businesses maintain their operations and recover.
Why does the housing price keep rising? How could developers sell their products in the Covid-19 pandemic? Should investors use financial leverage during this time? Mr. David Jackson, chief executive officer of Colliers Vietnam, talks about those issues on the program: Chat with CEO.
Tourism is an important sector in the economy. But it is now feeling the worst impacts from the Covid-19 pandemic. Destinations have turned quiet these days. Travel companies have no way but to scale down their operations and lay off their staff. Across the country, many hotels have had to shut down because of having no guests.
How bad is the situation? To where the tourism industry will go? Kenneth M Atkinson, founder and senior board adviser of Grant Thornton Vietnam, and vice chairman of the Vietnam Tourism Advisory Board, talks with The Saigon Times over the issue in the Chat With CEO program.