Several measures have been recommended to help Vietnamese exporters cope with dwindling demand in many markets around the world. The export value in the first half of 2023 decreased 12.1% from the same period last year to 164.45 billion USD. (Photo: VNA) In the first half of 2022, countries took bold steps to resume economic and tourism activities...

Vietnam can return to high growth rates over the medium term, as structural reforms are implemented, Division Chief of the International Monetary Fund (IMF)’s Fiscal Affairs Department Paulo Medas has said. Vietnam’s economic growth projected to recover in the second half of 2023 (Photo: VNA) Medas led an IMF team to Vietnam from June 14-29 to hold discussions...

Investment and Industrial Development Corporation (Becamex) targets to earn a profit after tax of 2.26 trillion VND (95.8 million) this year, an increase of 32% compared to 2022, besides increasing charter capital to 20-30 trillion VND. Illustrative image (Photo: becamex.com.vn) In 2023, Becamex is expected to hit a total revenue of 9.46 trillion VND, up 19%. The expected...

Many domestic enterprises are renewing their business methods to catch up with the green consumption trend. Illustrative image (Photo: vneconomy.vn) Consumers are changing their consumption behaviours toward a more sustainable lifestyle, including reducing plastic waste, only buying essential goods or classifying garbage for recycling, said Northern Region Manager of NielsenIQ Vietnam Dang Thuy Ha. The key factors influencing consumption...

The State Bank of Vietnam (SBV) has sent a document to credit institutions and branches of foreign banks and SBV in provinces and centrally-run cities regarding the reduction of interest rates. Illustrative image (Photo: VNA) The document clearly stated that in accordance with the Government and the Prime Minister’s directives, and based on the recent market and interest rate...

Vietnam remained the biggest rice provider of the Philippines in the first five months of this year with turnover of 772.4 USD million, surging 31.1% year-on-year. Vietnam remains the biggest rice provider of the Philippines. (Photo: VNA) During January-May, the Philippines imported 1.5 million tonnes of rice from Vietnam, accounting for nearly 90% of its total imported rice, according...

Investment from the Republic of Korea (RoK) in Vietnam is expected to accelerate in the near future, including many large-scale projects worth up to billions of US dollars as a series of memorandums of understanding (MoUs) on cooperation between the two countries' ministries, sectors, and businesses was signed at the Vietnam - RoK Business Forum that took place...

Total revenue from retail sales of consumer goods and services increased 10.9% year-on-year in the first six month of this year to more than 3 quadrillion VND (127 million USD), according to the General Statistics Office (GSO). Consumers choose different types of air conditioners at a shop in Hanoi. (Photo: VNA) Specifically, retail sales of goods stood at 2.3...

The Ministry of Transport (MoT) has called for more investments to be prioritised for the logistic system in the north central and central coast regions. Lien Chieu port in central city of Da Nang (Photo: vneconomy.vn) This is part of the MoT’s recently-issued plan on developing modern, comprehensive and cost-effective transport that also guarantees defence and security for the...

The Government on June 30 issued Decree No. 44/2023/ND-CP on reducing the value added tax (VAT) in line with the National Assembly’s Resolution No. 101/2023/QH15 dated on June 24, 2023. The value added tax (VAT) will be slashed by 2%, starting July 1. (Illustrative photo: chinhphu.vn) Accordingly, the VAT cut by 2% will be applied to goods and services...