Desert Harbour Tourism, a Dubai-based destination management company founded by Vietnamese entrepreneurs, has marked its eighth year in operation, having facilitated trips for more than 20,000 visitors, with over 70 per cent coming from Vietnam.
While major consumer finance firms in Vietnam have reported strong growth, Mcredit posted an unexpected 87 per cent drop in profit for the first half of 2024.
Vietnam's electric vehicle market, holding just 15 per cent of the automotive market share, shows promise but faces significant challenges in scaling up due to infrastructure and regulatory obstacles.
The reduction aims to boost consumer spending for three months.
Vietnam's Ministry of Finance is proposing a 100 per cent special consumption tax on beer and high-alcohol beverages by 2030 as part of efforts to curb excessive drinking and raise state revenues.
A prominent issue for many Vietnamese businesses concerns the proposed narrowing of the 0 per cent VAT rate for export services.
The gross loss of Vingroup’s electric vehicle brand VinFast saw an increase of 7.3 per cent last year when the company expanded its commercial footprint.
The company expects net revenue in 2023 of $702 million to $775 million, a year-on-year increase from 6 to 17 per cent.
Vietnamese enterprises’ knowledge about circular business is limited, with only 20 – 30 per cent clear and 3 – 6 per cent very clear, according to CIEM’s survey.
Coca-Cola Vietnam expects to eliminate 2,000 tonnes of new plastic in Vietnam annually by introducing bottles made from 100 per cent recycled PET plastic.
Vietnam lost about $10 billion in 2020, or 3.2 per cent of its gross domestic product, to climate impacts, the World Bank Group’s Country Climate and Development Report for Vietnam stated.
Faster growth in both the government and corporate bond segments pushed Vietnam’s local currency bond market to reach $91.5 billion in the end of last year, up by 9.8 per cent from the third quarter of 2021.
For 2021, Siam Cement Group (SCG) in Vietnam reported revenue from sales of over $1,500 million, which is a 32 per cent increase year on year mainly from sales from new acquisition of Packaging, VKPC operation and chemicals operation (TPCVINA), as well as export sales from Thailand and ASEAN to Vietnam.
There are three sectors that VinaCapital expects to benefit from very strong outlook for Vietnam’s GDP growth, including banking that has a circa 30 per cent weighting in the VN-Index), property (23 per cent), and consumer discretionary stocks (3 per cent).
