Vietnamese electric motorbike market heats up as manufacturers race to expand
EconomyAs major cities in Vietnam like Hanoi and Ho Chi Minh City move to phase out gasoline-powered two-wheelers, both local and international manufacturers are ramping up investment in production, retail networks, and consumer incentives, fueling rapid growth in the country’s electric motorbike market.
EDC, VinaCapital sign MoU to expand Canada-Vietnam business and trade ties
EconomyExport Development Canada (EDC), Canada’s export credit agency, and VinaCapital, one of Vietnam’s leading investment management firms, have signed a Memorandum of Understanding to enhance trade and investment between Canada and Vietnam, the Consulate General of Canada in Ho Chi Minh City announced in a press release on Thursday.
Vietnamese banks cut nearly 3,000 jobs amid AI adoption
EconomyFinancial reports from 28 Vietnamese banks for the first half of this year reveal that their total headcount dropped to nearly 280,000 employees, a decline of almost 3,000 compared to the beginning of the year, amid the growing adoption of artificial intelligence (AI).
Vietnamese rice prices edge up as Thai, Indian rates tumble
EconomyVietnamese rice prices inched up in early August despite sharp declines in Thailand and India, supported by steady exports, high quality products, and strong market access, according to the Vietnam Food Association (VFA).
Vietnamese ride-hailing app Xanh SM turns the tables, overtakes Grab to dominate market
EconomyVietnamese electric taxi ride-hailing app Xanh SM has surpassed Grab to take the lead in the local market long dominated by foreign giants, signaling a turning point in the ride-hailing landscape.
PM urges Qualcomm to expand investment in Vietnam
EconomyVietnamese Prime Minister Pham Minh Chinh has called on U.S.-based Qualcomm Inc., a global leader in semiconductor and wireless technologies, to boost investment and foster cooperation in Vietnam, focusing on high-tech innovation, chip development, and artificial intelligence (AI).
Experts back loosening casino laws for Vietnamese citizens to curb overseas gambling losses
EconomyEconomists have voiced their strong support for a proposal to let Vietnamese citizens play at all domestic casinos, arguing it could keep gambling money from flowing abroad, boost state revenue, and strengthen social welfare funding.
Vietnam targets milk consumption of 70 liters per capita, 7.5 billion liters output amid reliance on imports
EconomyVietnam plans to increase domestic milk production and raise per capita consumption to reduce reliance on imports, according to what was discussed on Tuesday at an industry conference outlining development goals through 2045.
Vietnam’s Vingroup expands into green energy, infrastructure
EconomyVingroup, one of Vietnam’s largest private conglomerates, on Tuesday announced its expansion into two new strategic sectors, including infrastructure and green energy, apart from its existing pillars of technology and industry, commercial services, and social philanthropy.
Thailand’s conglomerate SCG to restart $5bn Long Son petrochemical complex this month
EconomyThailand’s Siam Cement Group (SCG) announced on Monday its plan to restart the US$5-billion Long Son Petrochemical Complex in Ho Chi Minh City by the end of August, following several months of commercial suspension.
