Business News

The race to lure demand deposits, or current account savings account (CASA), among banks seems to be decelerating as it is more difficult for banks to attract the cheap capital source in the context of high interest rates on term savings.

The city is expected to extensively and intensively integrate into the world, have high competitiveness compared to others in the region and the world, and boast a development level comparable to that of capital cities of developed countries in the region and the world.

Central Retail Corporation (CRC), the largest retailer of Thailand, has announced its biggest investment in Vietnam at 50 billion THB (1.45 billion USD) in the 2023-2027 period to accelerate its market presence in the country.

Deputy Foreign Minister Pham Quang Hieu suggested international partners and investment funds invest in areas of Viet Nam’s priorities such as green economy and digital economy.

About 2,900 businesses and factories in residential areas of the southern province of Binh Duong will be re-located into industrial zones and clusters in the locality from 2024-2030, according to a plan sketched out by the provincial People’s Committee.

Minister of Industry and Trade Nguyen Hong Dien has also handed over a decision approving the investment policy for a project to build a combined gas turbine thermal power plant using liquefied natural gas, with a total investment of $2.1 billion in the south-central province of Ninh Thuan.

“The prime target is to remove enterprises’ difficulties and boost both supply and demand, helping them to improve productivity and operational effectiveness, then helping ameliorate the economy’s competitiveness. This will also help us to reach the desired growth goal of at least 6.5 per cent this year,” PM Chinh said.

Vietnam has a population of nearly 100 million, ranking 15th in the world, but the size of its digital market stood at only the 25th position among the 39 countries surveyed in 2022 by Financial Time and Omdia.