New foreign investment approvals soar in HCMC in Jan-Feb
HCMC – Fresh foreign direct investment approvals in HCMC in the first two months of 2023 totaled US$332.3 million, up 43.1% year-on-year, showed data from the HCMC Statistics Office. During the two-month period, 101 projects were approved from the city, with total registered capital of US$97.7
Agri-product shipments through Lao Cai border gate turn tough
HCMC – The volume of agricultural products exported to China through the Lao Cai border gate stood at only 50% of pre-pandemic levels due to slow customs clearance. The Chinese authority still imposes special requirements for goods transfers across the border, which slows down the speed of goods
Further extension proposed for 2023 tax payments
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has proposed the six-month extension beyond the end of this year for settling all tax liabilities in 2023. The VCCI made the above proposal in its feedback to the Ministry of Finance, contributing to the finalization of a draft decree on
Manufacturing business conditions improve in February
HCMC – The Vietnamese manufacturing sector has seen a pickup in new orders, leading to higher output, employment and purchasing activity. The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) was 51.2 in February, ending a string of contractions and up 3.8 points from 47.4 in
PM urges eliminating administrative bottlenecks for HCMC
HCMC – Prime Minister Pham Minh Chinh has recently asked the relevant agencies to cut red tape and establish a breakthrough mechanism for the city’s development. He suggested local authorities lay the groundwork to fulfill the potential of HCMC and bolster its role as the country’s economic
HCMC proposes coefficient K be used to set land prices
HCMC – 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. It is difficult to collect and check information on the actual prices of property transactions in the city due to vagueness in those
Interbank interest rates rise
HCMC – Vietnam’s interbank interest rates have edged up further due to the central bank’s net cash withdrawals from the banking system. The interbank rates for all tenors have risen, with the overnight rate increasing by 1.4 percentage points to 6%, according to a recent market report by SSI
Nearly 51,400 firms exit market in Jan-Feb
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. Of these companies, some 38,800 have temporarily suspended their operations, up 18.5% year-on-year, and 9,400 have halted their operations pending
Vietnam enjoys trade surplus of US$2.82 billion in Jan-Feb
HCMC – Vietnam exported goods worth US$49.44 billion in the first two months of the year, while spending US$46.62 billion on imports during the period, resulting in a trade surplus of US$2.82 billion, according to the General Statistics Office. Meanwhile, the country ran a trade deficit of US$0.3
Vietnam’s CPI edges up in February
HCMC – Vietnam’s consumer price index (CPI) in February rose by 0.45% month-on-month and 4.31% year-on-year, according to data released by the General Statistics Office today, February 28. The rise was attributed to higher local prices of fuels due to soaring global ones and increased renting
New FTA negotiations stepped up to boost exports
HCMC – Vietnamese authorities are expediting negotiations over new free trade agreements (FTAs) with markets that the country has yet to tap. According to the Center for WTO and International Trade under the Vietnam Chamber of Commerce and Industry, Vietnam’s trade and investment have benefited
Vietnam eyes mild rise in cashew exports this year
HCMC – Vietnam aims for US$3.1 billion in cashew exports this year, inching up US$30 million against 2022, heard the ongoing 12th VINACAS Golden Cashew Rendezvous, a national trade promotion program of Vietnam. The modest target was set due to many difficulties facing the global cashew market, the