Business News

The fact that a growing number of multinational corporations are choosing Tây Ninh Province to expand their manufacturing operations underscores its rising appeal as a destination for high-quality foreign investment focused on innovation, advanced technology and long-term economic value. Among the latest investors is Suntory PepsiCo Vietnam Beverage, which this month opened in the province’s Hựu Thạnh Industrial Park a new plant that cost more than US$300 million.

The wood industry should treat the domestic market as a strategic growth pillar rather than a fall back when exports weaken, industry executives and policymakers said during a conference on developing the local wood product market on August 6. Valued at about US$5 billion a year and projected to exceed $7 billion by 2030, the domestic wood and furniture market is increasingly seen as a new source of growth for one of Việt Nam's largest export industries, they said.

Although state-owned enterprises (SOEs) account for only a small proportion of the total number of businesses, they continue to control substantial resources across many strategic sectors and make significant contributions to the national economy. As Việt Nam strives to achieve double-digit economic growth, enhancing the operational efficiency of SOEs while reinforcing their pioneering and leading role has become an urgent priority.

According to Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s seafood exports totalled nearly $6.86 billion in the first seven months of 2026, an increase of 11.5 per cent on-year. In July, seafood exports reached $1.1 billion, up 4.8 per cent compared to the same period in 2025. China and Hong Kong remained Vietnam’s largest seafood market in July, importing more than $267 million, up 24.7 per cent on-year. During the first seven months, exports reached nearly $1.74 billion, an increase of 34.5 per cent.

In the first seven months of 2026, exports totalled approximately $4.76 billion, representing a 23 per cent increase compared to the same period last year. The sector’s growth was driven primarily by a recovery in durian exports, which account for more than half of the industry’s total export value. China remained the largest export market, accounting for around 55 per cent of total export value, while the United States and South Korea continued to post positive growth.

Polish businesses are looking to expand food exports to Vietnam and to source shrimp, pepper and other Vietnamese agricultural products for the domestic market. On August 6, as part of the “Europe Full of Flavours - Tradition and Quality” programme, the Embassy of Poland in Vietnam, the Polish Investment and Trade Agency in Vietnam, and the Polish Chamber of Commerce and Industry (KIGCP) held a Vietnam - Poland business networking event in Ho Chi Minh City.

The industrial production index (IIP) rose by 11.4 per cent from January to July, the strongest seven-month performance in nearly a decade, with growth recorded across all 34 provinces and cities driven by robust processing and manufacturing, the National Statistics Office (NSO) said in an August 3 report. The IIP in July was estimated to increase by 1.2 per cent from the previous month and 14.5 per cent year-on-year, showing continued momentum in production, the NSO said.

Listed companies continued to report solid earnings growth in the second quarter of 2026, although the pace moderated from the previous three quarters. According to data updated by FiinTrade, as of July 29, 672 out of 1,525 listed companies and banks had released either their second-quarter financial statements or preliminary earnings estimates.