Business

The government has not made any changes to its GDP growth target of 6.5% this year, with any future adjustment depending on results of the first six months. Although Vietnam recorded a low GDP growth of 3.32% in the first quarter, making the whole-year target of 6.5% a big challenge, …

The U.S. Department of Commerce (DoC) has announced that it will extend the deadline for issuing its final conclusion on an anti-dumping tax evasion investigation into plywood imported from Vietnam. The DOC plans to issue the conclusion on July 14. This is the eighth time the DOC has extended the …

While exports of textiles, wood products and seafood plummeted in the first five months of 2023, those of rice and fruits have risen. Overall exports between January and May were worth US$136.17 billion, down 11.6% year-on-year, according to the General Statistics Office. Seafood, wooden furniture, handicrafts, and textile exports fell …

Total revenue from retail sales of consumer goods and services in May was estimated at VND519 trillion ($22.09 billion), up 11.5% over the same period last year, according to the General Statistics Office (GSO). The results pushed the total retail sales of consumer goods and services in the first five …

Around 5,200 companies, or 71% of those polled in a VnExpress survey, plan to lay off employees this year. Most are in construction and manufacturing, the survey done in April together with the government’s Private Sector Development Committee found. Half of them are in Ho Chi Minh City and Binh …

The Ho Chi Minh City economy is forecast to grow at an 5.87% year-on-year in the second quarter, a jump from 0.7% in the first. Its chairman, Phan Van Mai, said at a National Assembly session Monday: “This shows the great effort made by the city. It brings great joy.” …

FDI in the property sector fell by 61% year-on-year in the first five months to US$1.16 billion amid a frozen market and large layoffs in the industry. The industry ranked third in FDI with 10.7% of the total amount and behind manufacturing and finance-banking. In the first quarter it had …

If more social and affordable commercial housing is built, the frozen real estate market could thaw, according to experts. There is very high demand for social housing and in the low-end and lower-middle segments where prices are VND1 billion (US$42,370), VND2 billion and VND3 billion per unit and steady regardless …

Tea made from soursop fruit has become so popular in Hanoi and Ho Chi Minh City that the fruit’s price has doubled over the last few months. Soursop tea is a popular new drink in Ho Chi Minh City. Photo by VnExpress/ Thi Ha Each cup of soursop tea costs …

Over 1,000 people in Vietnam were considered “ultra-rich” in 2022, nearly double the figure recorded in 2017, according to the latest report by U.K. property consultancy Knight Frank. The annual Wealth Report by Knight Frank said there were 1,059 “ultra-rich” people in Vietnam in 2022, up from 538 in 2017, …