Singapore has become increasingly reliant on Vietnamese rice imports, with Vietnam surpassing traditional suppliers like Thailand and India.   Vietnam is now Singapore’s leading rice supplier. Photo: Buu Dau / Tuoi Tre  Data from Singapore’s enterprise regulator shows Vietnamese white rice exports to the city-state reached US$26 million in the first three months of 2024, reflecting […]

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The total value of cashless transactions in 2023 was 23 times GDP, according to the State Bank of Vietnam.   A customer scans a QR code to pay at a restaurant in Hanoi. Photo by VnExpress/Luu Quy  This is 90% of the 2025 target, Pham Anh Tuan, director general of the central bank’s Payment Department, […]

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The number of individuals with over US$1 million in net worth in HCMC has doubled in the last decade, making it Asia’s next big millionaire hotspot, a report has found.   A view of downtown HCMC in July 2023. Photo by VnExpress/Quynh Tran  The city now boasts 7,200 millionaires, 24 centi-millionaires, and 3 billionaires, according to […]

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The U.S. Commerce Department will hear testimony on whether to designate Vietnam as a “market economy” on Wednesday.   U.S. President Joe Biden makes a speech at the U.S. Capitol building in Washington, U.S., May 7, 2024. Photo by Reuters  The move, opposed by U.S. steelmakers and Gulf Coast shrimpers but backed by retailers and […]

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PM Pham Minh Chinh directs easing of credit constraints and interest rate reductions to support businesses   The PM’s strategy rests on “five increases” and “five decreases.” (Photo source: https://www.realvantage.co/) The Prime Minister of Vietnam Pham Minh Chinh signed a comprehensive directive on May 2 focusing on removing difficulties for production and business, promoting growth […]

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The Ministry of Industry and Trade introduces a new scheme to boost legal knowledge and empower smaller enterprises often overlooked in Vietnam’s economic landscape.   SMEs are vital to Vietnam’s economy, comprising roughly 98% of all enterprises and contributing approximately 40% of the country’s GDP. (Photo source: Financial Magazine.) Vietnam’s Ministry of Industry and Trade […]

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Vietnam is expected to produce 43 million tons of rice this year, enough to meet both the export demand of more than 8 million tons and domestic consumption.   Farmers harvest rice in southern province of Kien Giang. Photo by VnExpress/An Binh In the first four months of 2024, Vietnam earned US$2.08 billion from shipping […]

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Prime Minister issues directive to bolster carbon credit oversight amid climate commitments   Commitment Reinforcement post COP26. (Photo source: internet.) Vietnam is ramping up efforts to manage carbon credits effectively in pursuit of its Nationally Determined Contributions (NDCs), following its pledge to achieve net-zero emissions by 2050. Prime Minister Pham Minh Chinh on May 2 […]

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Vietnam’s import-export revenue reached $238.88 billion in the first four months of this year, with trade surplus reaching $8.4 billion, higher than the $7.66 billion recorded in the same period last year.   Containers at Tan Vu Terminal in northern Hai Phong City. Photo by VnExpress/Giang Huy  April exports were estimated at $30.94 billion , […]

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