Business News

This is an event in a series of promotional activities organized by VCCI-HCM in collaboration with the Hong Kong Economic and Trade Office in Singapore (HKETOSIN) and Hong Kong Investment Promotion Bureau (InvestHK) to promote cooperation between Hong Kong - Ho Chi Minh City in particular and Hong Kong - Vietnam in general.

As Viet Nam’s economy still faces headwinds, the authorities could consider extending the implementation of the economic support program (2022-2023) into next year, suggested the World Bank (WB). In its Viet Nam Macro-monitoring November 2023, the WB noted that November data continued to show improvement in economic activities.

The multidimensional poverty rate in Vietnam will reduce to 2.93 per cent in 2023, a drop of 1.1 percentage points compared to last year, according to the Government’s report on the implementation of the national programme on sustainable poverty reduction.

Bilateral trade between Viet Nam and the U.S. hit US$100.62 billion over the last 11 months of this year amidst the global trade slowdown. The above figure was announced at the U.S.-Viet Nam Trade and Investment Framework Agreement (TIFA) Joint Council Meeting that took place in Ha Noi on December 6.

Management authorities should not try to restrict the thin capitalisation of domestic enterprises by applying a loan interest expense cap regulation, the Vietnam Chamber of Commerce and Industry (VCCI) said. The Ministry of Finance (MoF) is collecting comments on a draft decree that amends and supplements Decree 132/2020/NĐ-CP on tax management for enterprises with associated transactions.

Public investment disbursement is in the final stretch. At the regular Government meeting held on December 6, Prime Minister Phạm Minh Chính said that there is very little time left in 2023, while there are many unfinished tasks. Therefore, the PM requested government members to propose solutions to achieve the set objectives.

As Vietnam's economy is rapidly expanding, outpacing their ASEAN peers, it presents a unique opportunity for investors, said an article published on the Israeli-based financial market news site seekingalpha.com. The article said such growth is underpinned by perse sectors, from high-tech manufacturing to natural resources, and bolstered by significant trade relationships, especially with the US and China.

Vietnam boasts huge potential to develop semiconductor and AI industries, and pledges to create favourable conditions for NVIDIA corporation, a leading chip producer in the US, Minister of Planning and Investment Nguyen Chi Dung said on December 11.