Business News

A number of potential deals in the pipeline signifies bright prospects for Vietnam’s mergers and acquisitions landscape. SCGJWD Logistics (SJWD), the logistics arm under Siam Cement Group (SCG), in early May announced that it is purchasing SCG International Vietnam Co., Ltd. (SCG Inter VN) for approximately $5.4 million.

The government will continue to expand the fiscal policy in a bid to assist those struggling and to achieve the desired economic growth target for the year. Deputy Prime Minister Le Minh Khai last week reported to the National Assembly (NA) that the government will provide more practical support for the public and businesses as part of its agenda.

The flow of foreign capital invested in real estate in the first four months of the year has been impressive, but the domestic market has not yet fully recovered. According to the Ministry of Planning and Investment, foreign capital into real estate in the first four months reached $1.68 billion, four times higher than the same period in 2023.

Of the total, 7.94 billion USD was poured into 1,227 new projects, a year-on-year increase of 50.8 per cent and 27.5 per cent, respectively. Meanwhile, 440 projects had their capital added with a total of over 2.08 billion USD, dropping 9.3 per cent and 8.7 per cent as compared to the same time last year.

The fact that Vietnam is taking the lead in ensuring sustainable development is evident through its implementation of a national green growth strategy, a climate change strategy, and a new environmental protection law. Additionally, obtaining feedback from businesses operating in Vietnam provides a valuable perspective on these initiatives.

Viet Nam is gradually changing its economic growth model, shifting the structure towards creating high-added value. This means it needs to attract new generation investment and technology exchange in order to create sustainable development for domestic enterprises.

The first quarter of 2024 saw the Southeast Asian country import $3.079 billion worth of mobile phones and components, a 22.4 per cent increase compared to last year and the fifth largest import of the country. The numbers showed Việt Nam spent a total of $789.7 million importing mobile phones and components in April, a slight decrease of just one per cent compared to the previous month.

Pop Mart, a leading Chinese maker of collectible toys, launched its first official store in Crescent Mall, District 7, Ho Chi Minh City, on May 18. The move marks a new milestone in the brand's development strategy in the Southeast Asian market.