Business News

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E-visa holders will be allowed to stay in Vietnam for up to 90 days starting from August 15, or three-times longer than the previous 30 days.

Accordingly, citizens from Germany, France, Italy, Spain, the UK, Russia, Japan, the Republic of Korea, Denmark, Sweden, Norway, Finland and Belarus could stay in Việt Nam for 45 days instead of 15 days since their entry, regardless of passport type or purpose of entry if they meet entry requirements in line with Việt Nam law.

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.

According to economist Le Xuan Nghia, one of the biggest risks to the Vietnamese economy is that lending rates remain high despite the State Bank of Vietnam’s (SBV) recent efforts to reduce operating interest rates. “The real interest rate is still at 10 per cent, which is too high, but this is because the operator is still worried about exchange rate fluctuations,” said Dr. Nghia.

More effective solutions are being called for to pave the way for new supply and access to buy property. The government on August 7 issued Resolution No.124/NQ-CP, which requires related ministries and sectors to accelerate the establishment of trading real estate centres to help make the market more transparent.

“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.