Topic: enterprises

Circular No. 12/2022/TT-NHNN from the State Bank of Vietnam (SBV) on foreign exchange management in foreign borrowing and repayments by enterprises will take effect from November 15. Enterprises must publish monthly online reports on their website on foreign loans and repayments that are not guaranteed by the government.

At the Vietnam Blockchain Summit 2022 taking place in two days, October 19-20, 2022, organized by the Vietnam Software and Information Technology Services Association (VINASA) and the Vietnam Blockchain Association (VBA), experts said that Vietnam is one of the potential markets and one of the bright spots in Blockchain technology. Vietnam has more than 10 enterprises in the top 200 blockchain enterprises in the world, which is the premise for blockchain projects in Vietnam to continue to develop.

Strongly-performing export products such as honey, pepper, cashew nuts, vegetables, and rice and rice products were introduced by 36 Vietnamese enterprises at the Sial Paris International Food Industry Fair 2022 in Paris from October 15 to 19. The Vietnamese booths this year also introduced organic products as well as others entering the European market for the first time.

VnEconomy's statistics show that, as of October 19, there were 9 companies in the chemical fertilizer industry that announced their financial statements for the third quarter of 2022. Many large companies reported a sharp increase in profits compared to the same period in 2021, but compared to the previous month, they decreased sharply or moved sideways. Meanwhile, many smaller companies reported a sharp drop in profits in the past period.

Steel enterprises in Vietnam have faced many difficulties in the past but are expected to rebound in the fourth quarter as steel demand increases as construction works accelerate, the recovery in China boosting global steel demand in 2023, and EU steel buyers seeking cheaper steel in Asia, including in Vietnam. Iron and steel continued to be among of the top 10 items in terms of export value in Vietnam in the second half of September.

The information and communications technology (ICT) sector has grown impressively in many respects over recent years.

Despite posting slowing growth since before the pandemic, Vietnam’s construction sector is still a bright spot in the Asia-Pacific region and is forecast to grow by more than 8.71 per cent during the 2022-2027 period. FDI inflows continue to come and the government’s support policies have helped enterprises in the construction sector to recover.

Businesses still have faith in Vietnam’s ability to recover from the current woes.

Many foreign enterprises have recently expressed an interest in investing in Vietnam’s semiconductor industry. Analysts believe the country has an opportunity to become a prominent semiconductor manufacturing center in the region, and it needs to develop medium and long-term strategies to promote the industry.

The Top 10 enterprises providing e-commerce services in Vietnam account for 95 per cent of revenue. These include not only major e-commerce platforms such as Shopee, Lazada, and Tiki but also ride-hailing apps and food delivery apps such as Grab, Bee, Gojek, and Baemin. Revenue in Vietnam’s e-commerce sector is estimated to reach $16.4 billion this year, a 20 per cent increase compared to 2021.