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Vietnam Jan.-Sept. pledged FDI seen at $21.2bln, down 18.9% on pandemic

Total foreign direct investment capital to Vietnam between January and September period was seen to drop 18.9 percent to $21.2 billion, according to latest data released by Ministry of Planning and Investment.

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Vietnam eyes 2030 macadamia revenue at $1 billion

The country plans to rapidly expand macadamia farms to 100,000 hectares by 2030, mostly in the Central Highlands as demand rises.

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Vietnam banks’ total assets fall to $553 billion

Total assets of Vietnam’s banking system has reduced to over VND12,800 trillion ($553 billion), according to data released by the State Bank of Vietnam as of end-July.

News

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Foreign invested firms account for 70 percent of Vietnam's textile exports

As much as 70 percent of textile export revenue belongs to foreign direct investment enterprises, said the Vietnam Textile and Apparel Association.

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Vietnam among 10 countries Japan to lift overseas travel alerts

Japanese government said it plans to gradually lift Covid travel alerts from October for Vietnam and other countries that have a low number of new coronavirus infections, Nikkei Asian Review reported.

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Vietnam govt says needs $133.3 bln for power projects by 2030

Vietnam will need to invest up to $133.3 billion in new power plants and transmission networks over the next decade to meet the country’s rising demand, the government said on Monday.

Economy

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Vietnam’s 9-month trade surplus widens to nearly $17bln despite trade restrictions

Despite trade restrictions due to pandemic, Vietnam has recorded a trade surplus of $16.69 billion in the first nine months of 2020, according to latest data from the General Statistics Office.

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Vietnam’s Q3 inflation accelerates 3.18% from a year earlier

The country’s consumer price in the third quarter of 2019 grew 0.92 percent from previous quarter and 3.18 percent over the same period of previous year, General Statistics Office reported.

Companies

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HP seizes $2.5mln counterfeit products in several countries, including Vietnam

American multinational tech firm Hewlett-Packard, known as HP, said it has seized a large number of counterfeit products with a total value of $2.5 million in several countries, including Vietnam.

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Shinhan Bank launches Phu My Branch in Ba Ria- Vung Tau

Shinhan Bank Vietnam opened Phu My Branch in Ba Ria – Vung Tau’s Phu My Town, raising its total branches and transaction offices in Vietnam to 37.

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Starbucks struggles to beat Vietnamese coffee chains

Despite recording double-digit growth last year, American coffee chain Starbucks remained in third place in revenues behind two local competitors.

Market

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Vietnam becomes Japan’s biggest coffee supplier on pandemic

Vietnam, the world's biggest producer of robusta, has become the top supplier of coffee beans for Japan as consumption of instant coffee, which uses robusta, is soaring there amid the Covid-19 pandemic.

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Gold drops like a rock to VND51 million per tael

Domestic gold price dropped sharply on Wednesday morning to VND51 million ($2,209) following a strong decrease on global gold price when Russia announced progress in developing a novel coronavirus vaccine.

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Gold continues to scale new peaks

Gold prices in Vietnam climbed to a new peak, as global rates hit an all-time high.

Real Estate

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Thu Duc City still a very distant dream

The impetus to establish a city within Ho Chi Minh City is gathering momentum, and the Government has approved the creation of this city under the name of Thu Duc City.

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Hanoi proposes to build $2.8bln metro line

Authorities in Hanoi have submitted a proposal to the government to invest over VND65.4 trillion ($2.8 billion) in a 39-kilometer-long metro line.

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Post-COVID move in Vietnam’s industrial real estate market

The wave of transiting factories out of China from preferential trade agreements EVFTA, CPTPP and Vietnam's effective control of pandemic have increased the chance to welcome more investments into Vietnamese industrial estates.

World

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Billionaire Jack Ma dethroned as China's richest man, replaced by Zhong Shanshan

A bottled-water and vaccine tycoon has become China's wealthiest person, in a day also marked by massive losses among the world's tech elite.

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Thailand takes first legal action against Facebook, Twitter over content

Thailand began legal action on Thursday (Sept 24) against Facebook and Twitter for ignoring requests to take down content, in its first such move against major Internet firms.

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UK to apply for TPP membership early next year

The British government said it looks to submit a formal bid to join the Trans-Pacific Partnership early next year, Nikkei Asian Review reported.