VUIHOC, an educational technology (EdTech) start-up, on July 31 announced a 6 million USD investment in a Series A funding round led by TNB Aura, reported Dau tu (Investment) Newspaper. Illustrative image (Source: VIR) The round was also saw the participation of TKG Taekwang, IBK-STIC Pioneer Fund, Do Ventures, BAce Capital and Vulpes Ventures. Founded in 2019, the...

The disbursed capital sourced from the state budget topped 291 trillion VND (12.3 billion USD) in the first seven months of 2023, equivalent to 41.3% of the yearly target and rising 22.1% from a year earlier, showing an observable improvement in public investment disbursement, said the General Statistics Office (GSO). Illustrative image (Source: baodautu.vn) The sum consists of...

Vietnam's manufacturing industry remained in contraction territory in July but showed some signs of stabilisation as softer declines were seen in output, new orders and employment while business confidence picked up, according to S&P Global. Vietnam's manufacturing industry shows some signs of stabilisation. (Photo: vneconomy.vn) The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI), released on August 1,...

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to which both Vietnam and Canada are members, has brought about many benefits to businesses of both sides. Products of Canadian Vita (Photo: canadianvita.com) Canadian Vita, a ginseng processing firm founded in 2017 by Tran Hieu, a Vietnamese Canadian, is an example of enterprises enjoying opportunities from the deal. Hieu...

Economic and investment cooperation between Vietnam and Singapore continues to be a bright spot in bilateral relations, especially in potential areas such as sustainable development, renewable energy, green economy, and digital economy, according to the Singaporean business community. Manufacturing electrical appliances at Panasonic Life Solutions Vietnam Co., Ltd., in the Vietnam - Singapore Industrial Park (VSIP) in Tan Uyen,...

Inactive cash showed signs of shifting to securities as banks continue to reduce deposit interest rates to below 8% per year, expanding the liquidity of the stock market. A customer makes a transaction at Vietcombank's branch in Hanoi. (Photo: Vietcombank) Since the beginning of July, more than 20 banks have reduced deposit interest rates. Many banks have reduced...

Prime Minister Pham Minh Chinh has ordered assistance to firms at risk of losing their farm produce shipments to the United Arab Emirates (UAE) market. A number of online new outlets, including vtv.vn, tuoitre.vn, and tienphong.vn, have been running articles on the risk that some business members of the Vietnam Pepper Association (VPA) are facing of losing their...

The National Payment Corporation of Vietnam (NAPAS) in coordination with the Vietnam Bank for Social Policies (VBSP) launched NAPAS 247 Quick Transfer and NAPAS 247 Quick Transfer via VietQR Code on the bank’s mobile banking app (VBSP Smartbanking) on July 31. The National Payment Corporation of Vietnam (NAPAS) collaborates with the Vietnam Bank for Social Policies to promote...

The number of new firms established in the January-July period, at 89,600, was up 0.2% from the same period last year, but their total registered capital reduced by 17.1% to 834 trillion VND (35.2 billion USD), reported the General Statistics Office. Illustrative image (Photo: VNA) The real estate sector saw a strong reduction in the number of newly-established...

Total retail sales of consumer goods and services have increased 10.4% year on year to almost 3.53 quadrillion VND (149 billion USD) in the first seven months of 2023, compared to a rise of 15.7% during the same period of 2022, reported the General Statistics Office (GSO). Goods retail sales are estimated at nearly 2.78 quadrillion VND during...