Vung Ang is about to launch electric cars; Vietnam Oil and Gas Group has a new name

Vinfast will supply the first cars manufactured in Vung Ang; Vietnam Oil and Gas Group has a new name; a rice exporting giant in An Giang has had a series of bank accounts frozen; the US postpones imposing tariffs for 90 days... are notable economic news of the past week.

Vinfast Ha Tinh factory is about to launch products

Started in December 2024, the VinFast electric car factory construction project in Vung Ang Economic Zone (Ky Anh town, Ha Tinh province) is expected to be completed in early July 2025, creating a new record in the world automobile industry for the speed of factory construction and completion.

It is expected that the first cars produced here will be supplied to the market by early September.

Vietnam Oil and Gas Group officially has a new name

On the afternoon of April 9, Deputy Prime Minister Bui Thanh Son handed over the official decision to change the name of the Vietnam Oil and Gas Group to the Vietnam National Industry and Energy Group ( Petrovietnam ). This decision was signed and issued by the Prime Minister on the same day.

This new designation affirms that Petrovietnam is not only an oil and gas corporation, but also a center of industry, services and a national energy pillar, in line with the energy transition trend and Net Zero commitment.

Rice exporting tycoon in An Giang has a series of bank accounts frozen

An Giang Import-Export Joint Stock Company (Angimex, code: AGM) has just announced unusual information related to the financial situation and bond issuance activities of the enterprise.

Accordingly, Angimex's bank accounts at three bank branches, including VietinBank An Giang Branch, BIDV An Giang Branch and Vietcombank An Giang Branch, have been frozen at the request of the civil enforcement agency of Long Xuyen city, An Giang province.

The above announcement was made after the Ho Chi Minh City Stock Exchange (HoSE) informed about the mandatory delisting of Angimex's AGM shares.

US postpones tax imposition for 90 days, what should Vietnam do immediately?

President Donald Trump unexpectedly announced a temporary suspension of high import tariffs on most of America's trading partners for 90 days but increased reciprocal tariffs on China to 125%.

In just a few hours, global financial and commodity markets witnessed a spectacular comeback.

Not being drawn into a trade war, not confronting and not causing tension, Vietnam has proposed to reduce import tax to 0% on goods imported from the US and wants the US to impose the same tax on Vietnamese goods.

Mr. Trump imposed high tariffs on dozens of trading partners. Photo: CNBC

The US government’s temporary suspension of tariffs to continue negotiations is an opportunity, but also a warning. In an uncertain world, Vietnam needs to clearly establish a decisive development strategy for the coming period.

"At 3am this morning, I received a phone call from my US partners informing me that President Donald Trump decided to suspend the reciprocal import tax for 90 days. They requested to restore the signed orders and export normally," the business representative shared.

Vietnam has 1.2 million tons of grapefruit, Korean retail giant will sell throughout the chain

On April 10, Vietnamese grapefruit was officially sold at Lotte Mart supermarket system (Korea). This is not only a testament to the superior quality of Vietnamese agricultural products but also affirms the efforts of businesses and agencies of the two countries in promoting bilateral economic cooperation between Vietnam and Korea.

According to data from the Korea Rural Economic Institute (KREI), the country's fresh fruit imports are set to surge to a record $1.45 billion in 2024, up 20.1% from the previous year - reflecting the South Korean market's growing dependence on imported fruit.

Bank chaired by Mr. Thuy 'plays big'

LPBank has just announced documents to be submitted to the 2025 annual general meeting of shareholders (AGM).

The highlight presented by LPBank at the General Meeting of Shareholders is the 2024 dividend plan, with a rate of up to 25%. Notably, all dividends will be paid in cash, corresponding to the profit used to pay dividends of VND 7,468 billion. This bank sets a pre-tax profit target of VND 14,868 billion in 2025, an increase of 22.2% compared to the results achieved in 2024.

The Board of Directors will submit to the General Meeting of Shareholders a proposal to establish the Debt Management and Asset Exploitation Company Limited (LPBank AMC). This company has a charter capital of VND 200 billion, 100% of which is held by LPBank.

Vietnam is in the top of pork consumption, businesses spend 460 million USD to import

A report from the Department of Animal Husbandry and Veterinary Medicine (Ministry of Agriculture and Environment) shows that by the end of 2024, the pig herd in our country will increase to 32 million heads - the highest number of heads in the past 5 years.

As Vietnamese people increasingly like to eat meat, in addition to the 53.53 million commercial pigs sold, businesses also spent an additional 460 million USD to import pork to serve domestic demand.

Surprisingly surpassing durian, banana is in the top 2 in the 7 billion USD industry

In the first two months of this year, durian exports dropped sharply by 69.3% compared to the same period last year, bringing in only 52.6 million USD. After 2 years of holding the top position, the "fruit king" has dropped to 3rd place in the export turnover ranking of Vietnam's fruit and vegetable industry, accounting for less than 7.7%.

In 2024, banana exports will rank fourth with a value of 380 million USD, accounting for a modest proportion of 5.32%. In the first two months of this year, this "superfood" fruit reached 71.6 million USD, surpassing coconut and durian to take the top 2 in export value of the industry's strength of 7 billion USD.

International visitors to Vietnam are at an all-time high.

Following the 98% recovery momentum of 2024, the number of international visitors to Vietnam in the first quarter reached over 6 million, an increase of 134% over the same period in 2019. This is also the highest number of international visitors in a quarter ever.

In terms of market size, among the 10 largest markets for Vietnamese tourism, China still leads with a total number of visitors in the first 3 months of the year reaching nearly 1.6 million.

Source: https://vietnamnet.vn/tap-doan-dau-khi-co-ten-goi-moi-dai-gia-xuat-khau-gao-bi-phong-toa-tai-khoan-2390526.html