Vietnam expected to become e-commerce powerhouse in Southeast Asia
Vietnam has emerged as one of the most promising shoppertainment markets and is expected to become an e-commerce powerhouse in Southeast Asia.
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Top 500 fastest growing enterprises 2024 announced
A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 24.
Viet Nam becomes leading market for digital industry: HSBC
Viet Nam has become a leading market for the digital industry for both local and international players, noted HSBC.
Petrol prices decrease slightly on April 25
The retail prices of petrol were adjusted down from 3pm on April 25 by the Ministry of Industry and Trade and the Ministry of Finance.
Standard Chartered lowers Vietnam’s 2024 growth forecast to 6%
UK bank Standard Chartered has revised its growth forecast for Vietnam in 2024 from 6.7% to 6%, citing slower-than-expected growth in the first quarter and challenges from global trade.
Auction for gold bullion to continue on April 25
Another bidding session for 16,800 taels of gold bullion will be held on April 25, the State Bank of Vietnam said in a statement.
SBV takes more actions to stabilise foreign exchange rates
The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.
Gov’t to promulgate direct power purchase mechanism in April
Prime Miniter Pham Minh Chinh has urged the Ministry of Industry and Trade to submit a mechanism for direct power purchase for issuance before April 30, 2024.
Central bank successfully auctions 3,400 taels of SJC-branded gold bars
The State Bank of Vietnam (SBV) released the outcome of the gold bullion auction on April 23, with two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC-branded gold bars.
Vietnam - an enticing destination for foreign investors: IMF expert
Vietnam is an attractive destination for foreign investors thanks to its high, stable growth, large domestic market and young, well-educated human resources, said Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam at the Annual Meetings of the IMF and the World Bank Group (WB) held recently in the US.
Majority of credit institutions forecast profit growth in 2024
A total of 86.2% of credit institutions expect their profit this year to grow compared to 2023, according to the latest survey of the State Bank of Vietnam (SBV).
FDI flow into garment and textile sector bounces back
The flow of foreign direct investment (FDI) into the Vietnamese garment and textile sector has rebounded thanks to the country’s sound investment climate and abundant workforce as well as its open economy, according to insiders.
Vietnam becomes biggest rice supplier for Singapore
Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.
Factors influencing Vietnam’s FMCG market
Economic outlook, demographic transformation and changing consumer trends are among macro shifts reshaping Vietnam’s fast-moving consumer goods (FMCG) landscape, according to marketing data and analytics company Kantar Worldpanel.