Business News

The added value of industrial production in Vietnam rose 3.02% during 2023, with the manufacturing and processing sector enjoying an increase of 3.62%.

Carbon credits, also known as carbon offsets, are permits that allow the owner to emit a certain amount of carbon dioxide or other greenhouse gases. One credit permits the emission of one tonne of carbon dioxide (CO2) or the equivalent in other greenhouse gases.

The city’s FDI thus accounted for nearly 16% of the country’s FDI attraction of US$36.6 billion last year. Other localities that followed HCMC in FDI attraction included Haiphong, Quang Ninh, Bac Giang, Thai Binh, Hanoi, Binh Duong and Dong Nai.

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Viet Nam targets to raise the export value of livestock products to US$1-1.5 billion by 2025 and US$3-4 billion by 2030, according to a recent plan approved by the Government. The plan aims to increase the proportion of cattle and poultry slaughtered in industrial facilities to about 60 percent and 40 percent respectively by 2025, and about 70 percent and 50 percent by the end of this decade.

Hong Kong-based Crystal Group unveils its plan to build a $200 million project for yarn, fabric, and garment production in the northern province of Nam Dinh. The information was revealed at the meeting between Crystal Group and Nam Dinh People's Committee on January 12.

With a positive economic outlook, the Ministry of Industry and Trade aims to increase exports by 6 per cent in 2024, running a trade surplus for nine years in a row, estimated at US$15 billion. Capitalising on current free trade agreements (FTAs) and signing deals with new markets such as Israel or the UAE would be vital to foster trade, attract investments, and increase exports in the upcoming years, said the ministry.

Major state lender Vietcombank has just released its 2023 figures, with results across a variety of areas exceeding expectation. The Hanoi-headquartered bank saw $59.5 billion in deposit volume, up over 12 per cent on-year, and outstanding balances amounting to $53.58 billion, showing a 10.6 per cent jump on-year.