Business News

The Directorate for Standards, Metrology and Quality under the Ministry of Science and Technology has issued International Standardisation Organisation (ISO) standards named TCVN ISO 14090:2020 that contain principles, requirements and guidelines to instruct organisations and sectors to adapt to climate change.

The stock market recovery, which has been driven by lower interest rates in 2023, is likely to be sustained by higher earnings and attractive valuations in 2023, according to Michael Kokalari, chief economist at VinaCapital. In a recent note, he said the State Bank of Vietnam had cut policy interest rates four times this year -- the refinancing rate by 150 basis points to 4.5 per cent -- in stark contrast to its US counterpart, which has hiked rates four times, by 100bps to 5.5 per cent.

“The blue economy has developed very rapidly in recent years. In addition, the current world trend is the conservation and sustainable use of oceans, seas, and marine resources for sustainable development being implemented in many countries. These are all favourable contributing factors to the sustainable development of the blue economy in Vietnam,” Hoi noted.

According to recent data released by Vietnam Electricity (EVN), as of August 11, nearly 93 per cent of renewable-energy transition projects have submitted their profiles to the Power Purchase Department for price negotiations and power purchase agreement (PPA) consultations, a substantial achievement for just over three months of rigorous effort.

Mergers and acquisitions between domestic and international real estate developers were down in the first half of the year, but could be a future bright spot with Vietnam boasting attractive economic fundamentals and investors biding their time.

According to the latest report by the World Bank, Vietnam’s economy is expected to grow by 4.7 per cent in 2023, with a slow recovery to 5.5 per cent in 2024 and 6 per cent in 2025. After registering 8 per cent real GDP growth in 2022, Vietnam’s economic growth decelerated sharply in the first half of 2023, reflecting a global slump and weaker domestic demand.

The deputy PM said improper application of methods or the use of subjective, non-transparent, and inaccurate data inputs employed during the valuation process has often resulted in inaccurate pricing and caused revenue losses to the State budget. Additionally, the complexity of valuation methods and the lack of comprehensive and reliable land price databases in the market also contribute to inconsistent results.

As of July 20, total newly-registered capital, additional capital, and capital contributions and share purchase by foreign investors stood at nearly 16.24 billion USD, up 4.5 per cent compared to the same period of 2022 and 8.8 per cent compared to the first half of the year.