Business News

Viet Nam has been well-prepared for a fourth boom of foreign investment in the Southeast Asian nation, led by the capital influx in 2023 thanks to effective economic diplomacy work, investment promotion and business environment improvement, said Minister of Planning and Investment Nguyen Chi Dung.

Việt Nam still has effective tools to proactively control the VNĐ/USD exchange rate in 2024 even if the US Federal Reserve (Fed) has to maintain its interest rates at the current high level for an extended time due to the conflict in the Red Sea and other new uncertainties, experts said.

A delegation of more than 10 members of the Hong Kong Logistics Development Council (LOGSCOUNCIL) paid a four-day visit to Vietnam on October 10 to explore partnership opportunities. The delegation was led by the Secretary for Transport and Logistics, Lam Sai-hung.

Several foreign-invested enterprises in the northern province of Bac Giang want to recruit dozens of thousands of employees to expand their operations. According to Bac Giang Industrial Zones Management Authority, in the first quarter of 2024, many foreign-invested enterprises (FIEs) in local industrial parks are seeing growth and want to expand.

The Government has issued a decree which provides special policy mechanisms for corporate and personal income tax exemption in HCM City. The move comes as a response to Resolution 98, a National Assembly-approved resolution on piloting special mechanisms and policies for the development of HCM City.

There are some new and slight improvement across the ASEAN manufacturing sector in January, according to S&P Global Ratings, with the headline ASEAN manufacturing PMI rising from 49.7 in December to 50.3. Manufacturers continued to be optimistic about the 12-month output outlook. Growth was recorded across four of the seven ASEAN members.

The amended Land Law which was passed at the 15th National Assembly’s fifth extraordinary session in mid-January is expected to provide a firm legal framework to enhance land management efficiency and create new momentum for Việt Nam to become a high-income country by 2045.

HCM City is calling for investment in three planned wastewater treatment projects to treat about 365,000 cubic metres of wastewater a day in Thủ Đức City. The planned wastewater treatment projects include Bắc Sài Gòn 1 with a capacity of 700,000cu.m per day, Bắc Sài Gòn 2 with a capacity of 130,000cu.m per day and Suối Nhum with a capacity of 65,000cu.m per day.