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Vietnam has potential to lure $38 billion in FDI in 2023

Vietnam is likely to attract $36-38 billion in foreign direct investment this year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

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Wood exports to hit record of $18 billion in 2023

The export turnover of wood and wood products is expected to set a record high of $18 billion in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club.

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Foreign exchange reserve to climb back to $100B this year: analysts

Analysts expect the central bank to bring Vietnam’s foreign exchange reserve back to the $100 billion this year after selling the U.S. dollar in the last few months to contain its surge.

News

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State Treasury to auction $17 bln worth of G-bonds in 2023

The State Treasury has announced that it plans to raise VND400 trillion (over $17 billion) worth of Government bonds via auctions on the Hanoi Stock Exchange this year.

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Vietnam collects $76.7 million in taxes from foreign service providers

Foreign cross-border service providers paid taxes worth VND1.8 trillion ($76.7 million) to Vietnam, according to the General Department of Taxation.

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Vietnam - India: Bilateral trade reaches a record of $15 bln

Trading between Vietnam and India in 2022 reach $15.05 billion, up 13.6% from 2021, according to the General Department of Vietnam Customs.

Economy

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Vietnam’s PMI edges up to 47.4 points in January

Vietnam's Manufacturing Purchasing Managers' Index (PMI) edged up to 47.4 in January from 46.4 in December, according to S&P Global Market Intelligence.

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Vietnam records trade surplus of $3.6 bln in January

Vietnam enjoyed a trade surplus of $3.6 billion in the first month of 2023, according to the General Statistics Office.

Companies

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Vietravel returns to profitability after 2 years in the red

Tourism company Vietravel was back in the black in 2022 with pre-tax profits of VND121 billion ($5.1 million) after racking up losses for two years amid Covid.

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Viettel Global records a record profit of over $973mln in 2022

Viettel Global (UPCoM: VGI) has officially released its consolidated financial results for 2022, showing record-breaking revenue and pre-tax profit.

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Masan’s retail arm expects 2023 revenue at VND36 – 40.5 trillion, up 23- 38%

WinCommerce, a retail arm of Masan Group, targets to deliver net revenue within the range of VND36,000 billion and VND40,500 billion in 2023, up 23% to 38% year over year.

Market

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VN-Index dips below 1,000 points

Vietnam’s benchmark VN-Index plunged 2.29% to 996.45 points Monday morning, lowest in 23 months.

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Vietnam stock drops to 1,000 points, a two-year low

The VN-Index fell to 1,003 points on Tuesday afternoon, the lowest since December 2020 on uncertainties from global and local markets.

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Masan's subsidiary to pay cash dividend at the rate of 50%

NET Detergent JSC, a subsidiary of Masan Group plans to pay the 2021 dividend in cash at the ratio of 50%.

Real Estate

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Vietnam among three real estate hotspots in Asia

Asia's diverse economies and cities' excellent development potential show that the area has pockets of positivity spotlight three of these: Vietnam, Singapore, and Japan, according to Savills Prospects

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Ba Ria-Vung Tau motorway and Ring 4 construction cost over $53 million

The Ba Ria-Vung Tau province planned to spend VND1,250 billion ($53 million) for the motorway that would connect Bien Hoa to Ring Road 4 of Ho Chi Minh City.

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HCM City's first metro line to undergo test run on December 21

Ben Thanh - Suoi Tien, the Metro Line No.1, is expected to test run an elevated route of over 8 kilometers from Suoi Tien to Binh Thai on December 21.

World

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Facebook parent Meta partners with AMD for mobile infrastructure program

Meta is trying to cover the uncovered regions and the underdeveloped countries

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Morgan Stanley agrees $13 billion deal to buy online trading platform ETrade

Morgan Stanley has become the latest elite Wall Street bank to turn to Main Street for its future growth, adding stock trading millennials to its customer with the $13bn acquisition of ETrade.

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Facebook-owner Meta gives preview of its first store, enterprise tools

Facebook owner Meta Platforms Inc gave an early glimpse of its first physical store which shows off games on its virtual reality headsets and rooms for testing video calling devices.