Vietnam 

FDI sector plays crucial role in Việt Nam’s economic growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Workers manufacture mechanical tools at the Japan-invested Kyouwa company, based in the Long Hậu industrial park of the southern province Long An. Foreign direct investment has contributed a great deal to Việt Nam’s impressive economic growth in recent years. — VNA/VNS Photo Danh Lam HÀ NỘI ­— Việt Nam’s economy grew at 6.71 per cent in the second quarter of 2019, down from 6.79 per cent in the first quarter. The finding was presented in a macroeconomic report released on Thursday by the Institute for Economic and Policy Studies (VEPR). VEPR…

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Vietnam 

Việt Nam’s forestry sector targets US$11 billion in export – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    A production line of wood products at Đức Thành Wood Processing Joint Stock Company in HCM City.  The forestry sector is expected to reach US$11 billion in export value this year. — VNA/VNS Photo   HÀ NỘI – Việt Nam’s export of timber and wood products is expected to reach US$11 billion this year, said Minister of Agriculture and Rural Development Nguyễn Xuân Cường. Cường said export value reached $5.23 billion in the first half of this year, up 20 per cent compared with the same period in…

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Vietnam 

Concerns raised over Việt Nam’s largest infrastructure project – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A worker cleans a train on the North-South line. There have been two very different financial proposals set forward by the Ministry of Planning and Investment and the Ministry of Transport for the North-South high-speed railway project. VNA/VNS Photo Huy Hùng HÀ NỘI The tentative total investment for the North-South high-speed railway, according to the Ministry of Planning and Investment (MPI), is about US$26 billion – $32 billion less than the previous proposal by the Ministry of Transport (MoT). MPI filed a report to Prime Minister Nguyễn Xuân Phúc on the railway project,…

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Vietnam 

Việt Nam’s research-based pharmaceutical industry expects high growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An engineer works on a machine in DHG Pharmaceutical Co’s drug manufacturing plant in Cần Thơ City. A Eurocham report predicts the healthcare sector can become an industry which can promote innovation and creation in Việt Nam. — VNA/VNS Photo Hữu Khoa HÀ NỘI — The European Chamber of Commerce in Việt Nam (Eurocham) highly values the potential of Việt Nam to become a centre for the research-based pharmaceutical industry including production, export and supplies of high quality healthcare services in the ASEAN region. Pharma Group…

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Vietnam 

EVFTA gives Việt Nam’s industrial real estate market a lift – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The industrial real estate sector could benefit from the shifting of factories from other countries to Việt Nam. — Photo baodauthau.vn HÀ NỘI — The EU-Việt Nam Free Trade Agreement (EVFTA) will have a positive impact on Việt Nam’s real estate market, especially the industrial real estate, experts said. EVFTA is a landmark deal that promotes the industrial and export sectors in Việt Nam by removing 99 per cent of tariffs on goods from both sides. Việt Nam’s industrial zones have been attracting attention from investors, especially those from Europe.…

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Vietnam 

Việt Nam’s inflation to moderate to 2.7% in 2019: HSBC – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Việt Nam’s headline inflation last month further moderated to 2.2 per cent year-on-year, from 2.9 per cent in May. VNA/VNS Photo HÀ NỘI After recording its slowest pace in more than three year last month, Việt Nam’s inflation is forecast to hit only 2.7 per cent in 2019 after standing at 3.5 per cent last year. HSBC analysts made the forecast in the ‘Việt Nam at a glance’ report released this week. Việt Nam’s headline inflation last month moderated to 2.2 per cent year-on-year, from 2.9 per cent in…

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Vietnam 

US levies duties on Việt Nam’s steel – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Việt Nam’s steel industry would not be affected by the tax duties of the US, expert said. — Photo vneconomy.vn HÀ NỘI — The US Commerce Department said on Tuesday it would impose duties of up to 456 per cent on certain steel produced in South Korea or Taiwan that are then shipped to Việt Nam for minor processing and finally exported to the US, Reuters reported. The agency said in a statement that it had found corrosion-resistant steel products and cold-rolled steel produced in Việt Nam using substrate…

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Vietnam 

Việt Nam’s six-month industrial production up 9.13% – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    The processing and manufacturing sector, which accounts for nearly 80 per cent of domestic industrial production, reported the strong IIP increase of 11.2 per cent – a spotlight that led the growth of not only the industry sector but also the whole economy in the period. Photo VNA HÀ NỘI — The country’s index of industrial production (IIP) recorded a year-on-year rise of 9.13 per cent in the first six months of this year, according to the General Statistics Office (GSO)’s latest report. The index was lower than…

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Vietnam 

Việt Nam’s insurance industry keeps thriving in H1 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    General director of the Ministry of Finance’s Insurance Supervisory Authority Phùng Ngọc Khánh speaks at the conference. Photo mof.gov.vn HÀ NỘI — Việt Nam’s insurance industry maintained positive growth in the first half of this year, with total revenue surging by 24.35 per cent year-on-year to nearly VNĐ71.15 trillion (US$3 billion), the Ministry of Finance’s Insurance Supervisory Authority (ISA) reported on Thursday. During a conference to review the industry’s performance in the first six months of 2019 and implement tasks for the second half of 2019 held in…

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Vietnam 

Alliex Holdings to pour $721m into Việt Nam’s POS infrastructure – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Deputy Prime Minister Vương Đình Huệ and CEO of Alliex Holdings Park Byounggu discuss non-cash payment solutions at the meeting in South Korea. — VNA/VNS Photo HÀ NỘI — South Korea’s Alliex Holdings plans to invest US$721 million in point-of-sale (POS) infrastructure in Việt Nam in the next five years. The news was released at a meeting between Deputy Prime Minister Vương Đình Huệ and Alliex Holdings leaders during his working visit to South Korea, which ended on Wednesday. Huệ said the rate of non-cash payment in Việt Nam is low compared…

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