Business News

Along with sound political relations, economic-trade ties have been one of the most successful endeavours within Vietnam-US relations. The US is currently one of Vietnam’s largest trading partners.

European Investment Bank (EIB) vice president Kris Peeters told VIR when he visited Vietnam last week that the non-profit credit institution and lending arm of the EU is eager to meet with partners in Vietnam to provide more green loans for environmentally friendly projects in various sectors from transport, water treatment, and smart urban development to renewable energy and infrastructure.

Viet Nam has moved up four places to secure the 106th position out of 165 countries and territories in the Economic Freedom of the World index, according to the Canada-based Fraser Institute. The Fraser Institute noted that Viet Nam's improvement in the index this year is a relatively substantial increase compared to other Southeast Asian peers.

The HCMC People’s Council approved in principle 87 state-funded projects worth a combined VND39 trillion at yesterday’s session on the implementation of the National Assembly’s Resolution 98 on special mechanisms and policies for the city.

These projections stem from the Government's socio-economic development strategy for the 2021-25 period, combined with endeavours to meet the 2023 growth goal of 6.5 per cent.

According to local newspaper Nhandan, the announcement came during Vietnamese Prime Minister Pham Minh Chinh's recent visit to Guangxi, China, where he met with vice president of Energy China Zhang Manping on September 16.

Bank loans in the city from January to August amounted to VND3,331 trillion, a 3.26% increase against the end of 2022 and a 5.62% rise over the same period last year. Of total outstanding loans, Vietnamese dong currency loans accounted for 94.7%, while foreign currency loans made up the remainder.

The Viet Nam Trade Office in Canada coordinated with the Canada-ASEAN Business Council and the Institute of Researching New Challenges in Economic Globalization (NEME) of Laval University to organize a seminar to evaluate investment potential in Viet Nam and the Association of Southeast Asian Nations (ASEAN) region.