BUSINESSES START TO FEEL IMPACT OF RED SEA SHIPPING CRISIS
Tran Viet Huy, managing director of Tracimexco – Supply Chains and Agency Services JSC (TRA-SAS), told VIR that, "The Red Sea disruption is impacting ocean freight via the Red Sea and Suez canals. It is mainly hitting shipments from Asia to Europe and some US routes. The cost of ocean freight to EU ports from Asia has gone from less than $2,000 per 40-foot shipping container before December 2023 to over $5,000."
DRAFT PROCEDURE FOR FOREIGNERS’ E-IDENTIFICATION REGISTRATION ANNOUNCED
The Ministry of Public Security has proposed a procedure for foreigners’ e-identification registration, which is expected to take effect alongside the identification law on July 1 this year.
VN LOOKS TO REMAIN A STRONG COMPETITOR FOR GLOBAL FDI
Data from the United Nations Conference on Trade and Development (UNCTAD), according to Rồng Việt Securities Company (VDSC), showed global FDI in 2023 increased by 3 per cent compared to the year before, reaching over US$1.365 trillion, mainly attributed to a significant increase in European Union countries.
DIGITAL TRANSFORMATION IN HEALTH CARE - IRREVERSIBLE TREND
Associate Professor, Dr. Phan Le Thu Hang, Deputy Director of the Department of Financial Planning, held that the Fourth Industrial Revolution and smart medical solutions will help Vietnam concertedly improve its health coverage, service quality, and medical costs, dubbed the three vertices of a triangle, which remains a hard nut to crack for every health system.
US CONSIDERS UPGRADING VIETNAM’S ECONOMY STATUS
“Vietnam is the US’ eighth largest trading partner and our largest trading partner in ASEAN, we are Vietnam’s second largest trading partner. And we are also Vietnam’s number one export market. You know, we firmly believe in the importance of Vietnam in terms of global supply chains,” Ambassador Knapper said.
HA NOI ABSORBS ALMOST US$870 MILLION IN FDI LAST MONTH
An estimated US$866.8 million in foreign direct investment (FDI) was channeled into Ha Noi in January, the municipal Statistics Office reported. An estimated US$866.8 million in foreign direct investment (FDI) was channeled into Ha Noi in January.
TRADE SURPLUS TOUCHES US$4.1 BILLION BY MID-FEBRUARY
As of February 15, Viet Nam's total trade with the rest of the world hit US$84.74 billion, of which export value stood at US$ 44.42 billion. As such, the Southeast Asian country ran a trade surplus of US$4.1 billion in the reviewed period, according to the General Department of Viet Nam Customs.
AS BUSINESS CONDITIONS REFORM SLOWS, BUSINESSES FACE MORE RISKS
Business environment reform is tending to slow down, some fields are even creating additional barriers, causing more difficulties and increasing compliance costs for people and businesses, exposing businesses to more risks, according to the former Director of the Central Institute for Economic Management Nguyễn Đình Cung.
