Industrial production grows 2.71% in first half of 2020


Industrial production grows 2.71% in first half of 2020

Vietnam’s industrial production grew by a modest 2.71% in the first six months of 2020 due to the impact of the coronavirus, according to the General Statistics Office. Manufacturing expanded by 4.96%, the lowest first-half figure of the 2011-2020 period, while power generation and distribution grew by 3.04%, and water supply and waste treatment increased…

Four Vietnamese billionaires make Forbes 2020 rich list


Four Vietnamese billionaires make Forbes 2020 rich list

The number of billionaires in Vietnam reduced by one from last year to four on Forbes magazine’s 2020 list of the world’s richest people. On the list released , Pham Nhat Vuong, owner of Vietnam’s biggest real estate conglomerate Vingroup and the country’s first billionaire, enjoyed his eighth consecutive appearance, ranked as the world’s 286th…

Foreign direct investment in Vietnam topped $15.67 billion in the first half


Foreign direct investment in Vietnam topped $15.67 billion in the first half

Foreign direct investment in Vietnam topped $15.67 billion in the first half of this year. Of the registered FDI, which includes newly-registered capital, capital supplements and stake acquisitions, $8.44 billion went into new projects, according to the Foreign Investment Agency. It included $4 billion invested in a 3,200 MW liquefied natural gas-fired power plant in…

HCMC up, Hanoi down in expensive cities for expats list


HCMC up, Hanoi down in expensive cities for expats list

Ho Chi Minh City edged up nine places in a global ranking of the most expensive places for expatriates in 2020, while Hanoi moved down four places. In Mercer’s 2020 Cost of Living Survey released recently, the southern metro moved from 120th most expensive last year to 111th now. Hanoi fell to 116th from 112th….

Vingroup makes jump in Forbes Global 2000 list


Vingroup makes jump in Forbes Global 2000 list

Vietnam’s largest private company, Vingroup, and three of its biggest banks have climbed up the Forbes list of the world’s 2,000 largest listed firms. The annual Global 2000, which ranks companies based on their revenues, profits, assets, and market value, released on lastest report saw Vietcombank jump 159 spots to 937th with revenues of $3.7…

Vietnam Is Asia’s Best Stock Market Performer in May


Vietnam Is Asia’s Best Stock Market Performer in May

Vietnam has managed to repeat its success of containing a virus outbreak, helping make the nation’s stock market Asia’s top performer this month. The benchmark equity index has rallied 13% in May, driven mainly by local investors as foreign funds pulled money from risk assets. Vietnam’s currency has rebounded more than 1% after sliding to…

EVFTA could lift Vietnam’s exports by 12 percent by 2030


EVFTA could lift Vietnam’s exports by 12 percent by 2030

The World Bank (WB) has predicted that the EU-Vietnam Free Trade Agreement (EVFTA) could help Vietnam’s GDP and exports grow 2.4 percent and 12 percent, respectively, by 2030, the Ministry of Industry and Trade (MoIT) has reported. The deal is also expected to bring 100,000 to 800,000 people out of poverty. The WB believes Vietnam…

Vietnam ready to cooperate with Canada in trade recovery


Vietnam ready to cooperate with Canada in trade recovery

Vietnam stands ready to cooperate with countries, including Canada, in recovering the global trade and supply chain, Deputy Prime Minister and Foreign Minister Phạm Bình Minh told Canadian Foreign Minister Francois-Philippe Champagne during their phone talks on Thursday. Minh praised Canada’s efforts in fighting the COVID-19 pandemic, and thanked the Canadian Government for its coordination…

Footwear exports into US market increase 10 percent in Q1


Footwear exports into US market increase 10 percent in Q1

According to the General Department of Vietnam Customs, footwear is one of the key export products of Vietnam to the US with export turnover in the first quarter of this year reaching US$1.56 billion, an increase of 10 percent compared to the same period last year. However, according to the Trade Promotion Agency under the…

Panasonic to move Thai-based production to Vietnam


Panasonic to move Thai-based production to Vietnam

Japanese appliance-maker Panasonic on May 21 said that next year it will move its Thai-based production of refrigerators and washing machines to Vietnam, laying off some 800 workers. The move is part of efforts to cut costs in the context that the company is facing fiercer price competition from its rivals China and the Republic…