Business

Lao Minister of Industry and Commerce Malaithong Kommasith on April 24 led a delegation to FSI Investment and Trading Technology Development JSC (FSI) to explore Make in Vietnam technology solutions that could support Laos' digital transformation in the logistics sector and, consequently, propel economic and trade cooperation between the two countries.

The Indian Consulate General in Ho Chi Minh City held the India-Vietnam Meet in Education Sector, themed “InnovEdu: Training and Partnership” on April 24.

The 2024 Investment Legal Support Forum, with the topic of investment in the form of public-private partnerships (PPP) in the new context of Ho Chi Minh City, took place in Ho Chi Minh City, on April 24.

Vietnam's benchmark VN-Index increased 2.4% to 1,205.61 points on April 24.

UK bank Standard Chartered has revised its growth forecast for Vietnam in 2024 from 6.7% to 6%, citing slower-than-expected growth in the first quarter and challenges from global trade.

The 6th International Mining and Minerals Recovery Exhibition for Vietnam (Mining Vietnam 2024) kicked off in Hanoi on April 24.

A workshop on promoting the digital economy in the Central Highlands and south-central region took place on April 24 in Quy Nhon City, Binh Dinh Province.

Another bidding session for 16,800 taels of gold bullion will be held on April 25, the State Bank of Vietnam said in a statement.

The Global Sourcing Fair Vietnam 2024 hosted by Global Sources kicked off in Ho Chi Minh City on April 24 with the participation of over 400 Vietnamese exhibitors and those from other Asian nations who are showcasing over 20,000 export-standard products across various industries.

Five Vietnamese enterprises operating in the fields of food and hospitality are attending the Food & Hotel Asia (FHA) 2024 which is taking place in Singapore from April 23-26.

The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.

The State Bank of Vietnam (SBV) released the outcome of the gold bullion auction on April 23, with two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC-branded gold bars.

Prime Minister Pham Minh Chinh on April 23 proposed breakthrough orientations to make ASEAN a model in digital transformation globally, while co-chairing a business roundtable with his Lao counterpart Sonexay Siphandone in Hanoi.

Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.

Vietnam's benchmark VN-Index fell 1.08% to 1,177.40 points on April 23.

Vietnam is an attractive destination for foreign investors thanks to its high, stable growth, large domestic market and young, well-educated human resources, said Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam at the Annual Meetings of the IMF and the World Bank Group (WB) held recently in the US.

The international terminal of Da Nang Airport, based in the central city of Da Nang, is set to become a smart terminal under a partnership between the Da Nang International Terminal Investment and Operation JSC (AHT) and FPT Software.

Vietnam's benchmark VN-Index increased 1.31% to 1,190.22 points on April 22.

The State Bank of Vietnam announced on the early morning of April 22 that it will cancel the auction of gold bars scheduled for 10 AM this morning due to the lack of members registering for the auction.

The prices of Vietnamese paddy and rice continued to increase last week, according to the the Vietnam Food Association (VFA).

Prime Minister Pham Minh Chinh asked the northern border province of Lang Son to maximise its development resources while addressing a conference announcing the locality’s master plan for 2021-2030 with a vision towards 2050 on April 21.

Construction of the Huu Nghi-Chi Lang Expressway, the final sub-project of a mega project to build the eastern wing of the North-South Expressway, began at a ceremony in the northern border province of Lang Son on April 21, with Prime Minister Pham Minh Chinh attending.

Having identified its weakness in 2023, entering the first quarter of 2024, Vietnam's shrimp industry has undergone a clear change, reflected through increases in exports to major markets.

The UNDP and the Binh Thuan Agricultural Extension Centre jointly held a workshop on replicating the model of reducing carbon emissions in agricultural production by applying science and technology.

Ambassador to Italy Duong Hai Hung has congratulated Vietnamese enterprises - the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) and the Handicraft and Wood Industry Association of HCM City (HAWA) - for their initial success in showcasing Vietnamese products in Milan Design Week in Italy - a design & brand arena of furniture businesses around the world.

The Vietnamese Embassy in Russia organised a seminar on April 19 on prospects for Vietnam-Russia digital economic cooperation, attracting over 100 delegates representing ministries, sectors, research institutes, and business associations of the two countries.

Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.

Prime Minister Pham Minh Chinh on April 20 asked ministries, sectors, agencies, localities, and businesses to make forecasts on the situation and prepare response plans to ensure sufficient power supply for production and daily activities under any circumstances.

Vietnam has strong infrastructure and research and development incentives as well as a skilled workforce, making it an attractive for “eagles” worldwide in the electronics and semiconductor industry, according to Deputy Minister of Planning and Investment Tran Duy Dong.

In 2023, Vietnam’s gas industry witnessed a significant shift as the Vietnam Gas Corporation ( PVGas ) completed the construction of a one-million-ton liquefied natural gas (LNG) storage facility and successfully imported the first LNG cargo to supplement the rapidly declining domestic gas supply, contributing to energy security and greening the national energy sources.