business news

Update news business news

Three Vietnamese entrepreneurs among Top 100 Most Powerful Women in Asia

Three female Vietnamese entrepreneurs have been named on a list of the Top 100 Most Powerful Women Asia 2024 (MPW Asia), as complied by Fortune magazine.

F&B industry to reach 30 billion USD in 2024

The Ministry of Industry and Trade (MoIT) forecasts that the revenue of the food and beverage (F&B) industry will grow by 10.92% this year, reaching more than 720 trillion VND (29.8 billion USD).

State-owned banks struggle to increase capital

While private joint stock commercial banks have increased capital significantly so far this year, the capital for State-owned commercial banks has remained stagnant.

Foreign investors interested in green development, semiconductor industry in VN

Green, clean development and semiconductor chip production are among the sectors in Vietnam that foreign investors are interested in, according to VinaCapital CEO and Founding Partner Don Lam.

Vietnam seeks Japan's cooperation in hydrogen energy development

Vietnamese Consul General in Fukuoka Vu Chi Mai held a working session with a delegation from the National Innovation Centre (NIC) led by its Deputy Director Do Tien Thinh on October 8.

Bright prospects for exports to set new record in 2024

With positive results recorded in the first nine months of 2024 and efforts of businesses, experts are optimistic about the country’s bright export prospects in the rest of the year towards a historical record of 400 billion USD.

Vietnam’s SOEs accumulate over VND115tril. in losses, two major firms in trouble

Recent reports reveal that out of 671 state-owned enterprises (SOEs), hundreds are experiencing losses, with total debts surpassing VND 2 quadrillion.

OceanBank and CBBank to be mandatorily transferred by 2025

The mandatory transfer of two banks is set to take place in 2024 or 2025.

Draft decree on petroleum businesses sparks debate

Facing strong opposition from petroleum businesses, the Ministry of Finance (MOF), the compiler of the draft decree on petroleum business management, has persisted in its opinion.

Trump Organization sets sights on Hung Yen with $1.5 billion investment

The Trump Organization has announced plans to invest $1.5 billion in a hotel, golf course, and residential complex in Hung Yen province, Vietnam, through a partnership with KBC.

Mysterious tycoon Ho Xuan Nang: Will he join Vietnam’s billionaire club?

Ho Xuan Nang, the man behind Vicostone and Phenikaa, remains one of the stock market’s hidden billionaires. His foray into autonomous tech may change that.

Vietnam’s car imports surge by 32.6%, average prices continue to fall

Vietnam saw a sharp rise in car imports in 2024, with 124,090 units imported by September, but lower import prices have kept the total value increase moderate at 16%.

China’s market boom draws Wall Street: Is Vietnam the next target?

A once-in-a-decade market rally in China has drawn major U.S. investors, but geopolitical risks and structural challenges linger. Could Vietnam be next in line for capital inflows?

Prime Minister directs agencies to reduce permits, lower costs for enterprises

In a new directive, PM Pham Minh Chinh emphasizes reducing red tape, decentralizing power, and supporting small and medium-sized enterprises to boost Vietnam’s economic growth.

Vietnam’s stock market on path to emerging status with securities law revisions

The revised Securities Law is set to enhance transparency, address violations, and promote market upgrades, positioning Vietnam to attract billions in foreign capital.

CEO of major farm producer may be barred from leaving the country

Loc Troi Group (LTG) has sent a document to agencies asking to bar its former CEO Nguyen Huu Thuan from exiting the country because Thuan "committed fraud, causing loss of company assets".

Tax office reveals revenue from more than 23,000 cases of travel bans

With an average of 2,374 travel bans issued monthly for tax debts, the General Department of Taxation reveals that a small percentage of the VND 50 trillion owed has been collected.

Vietnamese investment overseas takes 54.5% nosedive over nine months

Vietnam’s overseas investment reached more than US$189.6 million during the past nine months of the year, down 54.5% compared to the same period last year, according to the General Statistics Office (GSO).

Opportunity to lead region in developing offshore wind supply chains

The opportunity arises from Vietnam’s significant offshore wind potential, estimated at around 600 GW.

Vietnam’s renewable energy needs opportunities to accelerate localisation

Several Vietnamese enterprises are able to manufacture hundreds of individual wind turbine components at a time and sell them directly to foreign wind power companies or major turbine suppliers.