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Gold market demand quiet despite recent strong gains

(FILES) - Gold bars are pictured on April 6, 2009 at a plant of gold refiner and bar manufacturer Argor-Heraeus SA in Mendrisio, southern Switzerland. The price of gold hit a record high above 1,100 dollars an ounce in trading on November 6, 2009 in London following a report that Sri Lanka had joined India in purchasing the precious metal in favour of the US currency. AFP PHOTO / SEBASTIEN DERUNGS (Photo credit should read SEBASTIAN DERUNGS/AFP/Getty Images)

HÀ NỘI — Gold prices on global markets have made strong gains in the past two months, but investors with short-term appetite seem uninterested in gold. Gold futures for the first time in six years broke the US$1,450 an ounce last week, gaining 1.75 per cent on Friday and a total 13.6 per cent since May 28. The strong growth ... Read More »

Vietnam seizes 125kg of smuggled rhino tusks worth $7.5m

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More than 125kg of smuggled rhino horns have been seized in Vietnam in one of the biggest wildlife trafficking cases ever seen in south-east Asia. The horns, which had been smuggled in from the United Arab Emirates on an Etihad airways flight, were found in Hanoi’s Noi Bai airport concealed in thick plaster. It took over half a day for ... Read More »

Việt Nam records $700m trade deficit in first half of July


HÀ NỘI — In the first half of July, Việt Nam’s export revenue exceeded US$10.5 billion and its import value topped $11.18 billion, resulting in a trade deficit of nearly $700 million. However, the country posted a trade surplus of more than $900 million from the beginning of this year to July 15 thanks to a significant trade surplus of ... Read More »

Vietnam and EU sign free trade agreement


HANOI: The European Union and Vietnam on Sunday signed a long-awaited free trade deal that will slash duties on almost all goods, an agreement that pushes back against a rising tide of global protectionism and hailed as a “milestone” by Brussels. The signing comes amid worldwide trade turmoil, with a dragging US-China row and Britain’s impending exit from the European ... Read More »

Vietnam’s first homegrown car to be delivered in days


HANOI — Vietnam’s homegrown carmaker VinFast will deliver its first cars on June 17, the company said as it showcased a factory in one of Asia’s fastest growing economies. VinFast said it will supply a domestic market that is rapidly expanding, thanks to a mushrooming middle class with a growing appetite for cars — though it will face stiff competition ... Read More »

Government to crack down on trade fraud


The Government will adopt stricter penalties to prevent foreign goods being exported to the other markets under Vietnamese labels to avoid tariffs. Experts forecast that firms exporting goods from countries subject to high tax rates would find ways to illegally transfer the goods to Việt Nam and then export them to the US, Europe and Japan to circumvent the ongoing ... Read More »

Đắk Lắk eyes $66 million hi-tech farming complex


ĐẮK LẮK: A hi-tech agricultural complex, expected to cost US$66 million, will be developed in the Central Highlands province of Đắk Lắk late this year. The complex’s construction follows a Memorandum of Understanding signed on Tuesday in Buôn Ma Thuột City between the provincial People’s Committee and Hùng Nhơn Group from the southern province of Bình Phước and the De ... Read More »

Take a chance on Việt Nam: PM Phúc wants Swedish investment


STOCKHOLM — Việt Nam hopes that Swedish investors and businesses will cooperate with and invest in the Southeast Asian nation, Prime Minister Nguyễn Xuân Phúc has said. The PM on Monday told the Việt Nam-Sweden business forum in Stockholm that the Southeast Asian nation is reforming its institutes and restructuring its economy, while promoting the private sector, so the time ... Read More »

Auchan retail chain to leave Việt Nam


HÀ NỘI — French supermarket group Auchan Retail had decided to sell 18 loss-making stores in Việt Nam, cited CEO Edgar Bonte as saying. Those outlets generated 45 million euros (US$50.4 million) in revenue in 2018 but still suffered losses. The French group entered Việt Nam in 2015 and has developed a total of 21 stores in the country. ... Read More »

Vietnam Airlines offers 7.5 million seats in summer

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HÀ NỘI — The national carrier Vietnam Airlines will provide more than 7.5 million seats (equivalent to nearly 36,000 flights) on domestic and international routes, increasing by nearly 600,000 year-on-year, from June 1 to August 31, serving increasing travel demand in this summer’s peak. In the peak three months, the carrier will offer more than 4.8 million seats for domestic ... Read More »

Việt Nam, China have room to grow trade ties: experts


Vietnamese and Chinese enterprises are encouraged to tap into the great bilateral trade potential driven by the two countries’ open trade policies, experts said. Việt Nam values and gives priority to strengthening economic and trade co-operation with China, and hopes to receive greater investment from China and the overseas Chinese community, said Nguyễn Nội, deputy director of the Foreign Investment ... Read More »

Vietnam Braces for Hard Landing Amid World Trade Tensions


HO CHI MINH CITY — If a rising tide lifts all boats, then Vietnam may find that there is a related saying in economics: when the tide goes out, you will see who was swimming naked. The Southeast Asian country has fared fairly well amid the trade frictions around the world, with its foreign investment and gross domestic product continuing ... Read More »

VN poised to become manufacturer of established global brands

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Việt Nam’s garment and textile sector is set to expand its market share globally, taking advantage of free trade agreements (FTAs) to become “a manufacturer of the world’s established brands”, a trade and investment official has said. Phạm Thiết Hòa, director of the HCM City Investment and Trade Promotion Centre (ITPC), told Việt Nam News that an increasing number of ... Read More »

State Treasury to mobilise VNĐ80 trillion of G-bonds in Q2


The State Treasury of Việt Nam has announced plans to auction Government bonds through the Hà Nội Stock Exchange (HNX) in the second quarter with a total issuance of VNĐ80 trillion (US$3.43 billion). Specifically, the State Treasury plans to issue VNĐ10 trillion of five-year bonds; VNĐ5 trillion of seven-year bonds; VNĐ26 trillion of 10-year bonds; VNĐ30 trillion of 15-year bonds; ... Read More »

Forestry exports on the rise

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HÀ NỘI: The forestry industry showed a strong increase in export value in the first four months of the year, according to the Việt Nam Forestry Administration. Forestry exports were estimated to have hit US$3.3 billion in the period, a year-on-year increase of 17.8 per cent, including $875 million in April alone. Key markets for Vietnamese forestry products included the ... Read More »

1.45 million promotional Vietjet tickets up for grabs


HCM CITY: Vietjet is offering passengers 1.45 million super-saving tickets starting from zero dollars between now and Friday to celebrate its newest international route from HCM City to Bali. The discounted fares, which are available at from noon to 2pm, are for all of Vietjet’s domestic and international routes and those of ThaiVietjet – a joint venture of Vietjet ... Read More »

For Vietnam, Trade War a Sword That Cuts Both Ways


HO CHI MINH CITY, VIETNAM — Look at a list of the top four countries in Asia that could be hurt as China’s economy slows down and its ongoing trade war with the United States heats up. Then look at a list of the top four countries in Asia that stand to benefit from these tensions and from the diversion ... Read More »

Vietnam’s trade surplus reaches US$536 million in first quarter

FILE - In this Feb. 23, 2015 file photo, container ships wait to be unloaded at the Port of Los Angeles. China has raised tariffs on $60 billion of U.S. imports in an escalation of their trade battle following a deadline for President Donald Trump’s latest increase. (AP Photo/Nick Ut, File)

In the January-March period, Vietnam’s exports were estimated at US$58.51 billion, up 4.7% against the same period of last year, while imports rose 8.9% to US$57,98 billion. Domestic enterprises exported goods worth US$17.05 billion, while the revenues gained by foreign-invested companies reached US$41.46 billion, making up more than two thirds of the country’s total exports. The first three months of ... Read More »

FDI reaches nearly $11 billion in three months


HÀ NỘI: Foreign direct investment (FDI) commitments in the first quarter of the year reached a three-year record of US$10.8 billion, up 86.2 per cent year-on-year, according to the Foreign Investment Agency (FIA). During the reviewed period, FDI disbursement also saw a positive increase of 6.2 per cent to $4.12 billion, the FIA, which is under the Ministry of Planning ... Read More »

Vietnam police seize 300kg of meth in mansion bust


HANOI: Vietnam police busted a massive meth ring in a Ho Chi Minh City mansion allegedly run by a Chinese national who used a textile company as a cover for the operation, police and state media reported on Thursday (March 21). Police on Wednesday stormed the luxury property in Vietnam’s largest city, guarded with private security and outfitted with cameras, ... Read More »