Topic: enterprises

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.

At a dialogue on the corporate bond market held by VnEconomy on September 30, Dr. Le Xuan Nghia said there are still many bottlenecks in the approval of bond issuance documents, resulting in some businesses losing opportunities.

Nearly 6,000 Italian businesses are investing in Vietnam and stepping up trade promotions, in particular entering the culinary field through the introduction of Italian specialties at the “Discover Italian Flavors” week taking place in Ho Chi Minh City from September 29 to October 12. Vietnam is one of ten emerging markets prioritized for developing trade and investment relations by the Italian Government, and is also Italy’s largest trading partner in ASEAN.

The appreciation of the USD against the VND is generally of benefit to exporters, but will also prove disadvantageous if these businesses import raw materials, resulting in higher import costs and transportation costs, and financial difficulties if they have taken out loans in the dollar. Currency fluctuations also trigger inflation in Vietnam’s key markets, reducing purchasing power and significantly affecting export orders.

After consulting with businesses and analysts on a draft report on the implementation of the Vietnam Civil Aviation Law, the Vietnam Chamber of Commerce and Industry (VCCI) has made a series of comments. Analysts believe there are still many inadequate regulations on civil aviation when the State intervenes in production and business plans or restricts aircraft procurement activities, hindering the development of the sector. To solve the problems, the VCCI made two important suggestions relating to utilizing the resources of enterprises and aircraft parking issues.

To promote the development of the science and technology market, the Ministry of Science and Technology (MoST) has proposed establishing three national technology exchanges in the country’s three regions, connected to local technology exchanges and technology exchanges in Asia and the world. Vietnam’s science and technology market is in its infancy and still depends mainly on technology from developing countries. Up to 75 per cent of technology and equipment at Vietnamese enterprises comes from overseas.