Supporting industries play a significant role in the economic restructuring towards industrialisation and modernisation, contributing to enhancing labour productivity, competitive capacity, and value creation, and increasing the contribution of the processing and manufacturing industries to the wider economy.

The Vietnam Oil and Gas Group (Petrovietnam) has maintained a high progress of production and business, with all targets overfulfilled by between 3 and 28%.

About 91% of German companies are planning to expand their investment in Vietnam, according to a survey conducted by the Delegation of German Industry and Commerce (AHK) in Vietnam.

The Ministry of Industry and Trade held a conference in Hanoi on August 9 to announce the national plannings in the fields of energy and mining for the 2021-2030 period with a vision to 2050.

The total revenue to the State budget between January and July exceeded 1.01 quadrillion VND (42.53 billion USD), equaling 62.7% of the yearly estimate and dropping by 7.8% from the same period last year.

The State Bank of Vietnam set the daily reference exchange rate at 23,826 VND/USD on August 10, down 5 VND from the previous day.

Indonesia’s PT Perkebunan Nusantara (PTPN) Group and PT Suntory Garuda Beverage have kicked off their maiden export of Oolong tea to Vietnam.

National flag carrier Vietnam Airlines and Expedia Group, one of the world’s biggest travel groups based in the US, have announced that they will expand their cooperation to a global scale.

Prime Minister Pham Minh Chinh on August 9 suggested US healthcare giant Abbott expand its investment and upgrade the quality of its pharmaceutical manufacturing plants in Vietnam, thus helping promote the domestic pharmaceutical industry.

The Australian Cotton Trade Delegation to Vietnam is organising a series of activities in Ho Chi Minh City, Hue and Hanoi from August 7-11 to strengthen relations between Vietnam’s textile manufacturers and Australian cotton producers.

The Vietnamese and Iranian economies are reciprocal, and the two countries have a lot of potential to advance their economic and trade cooperation, making it match the good bilateral political and diplomatic relations, heard a forum on August 9.

The Government has introduced measures to stimulate credit growth to spur the economy, but experts are concerned loans could flow into risky industries that are the most capital thirsty with high absorption capacity.

The international wood material, woodworking machinery fair –BIFA WOOD Vietnam 2023 opened in the southern province of Binh Duong on August 9 with nearly 800 booths from 100 leading enterprises in the industry both at home and abroad.

Hanoi has emerged as a bright spot as it was one of the leading localities in terms of tourism revenue during the early months of 2023, according to Savills Vietnam.

A delegation from the Vietnam Textile and Apparel Association (VITAS) and the Vietnam Leather, Footwear and Handbag Association (LEFASO) joined the 16th edition of the Sourcing at Magic (Magic Show) in the US city of Las Vegas from August 7-9, with 20 stalls.

The northern province of Hung Yen has overfulfilled the 2023 target for state budget revenue from domestic sources, excluding land use fees, in just the first half of the year.

A fast-growing international network has become the highlight of Vietjet as the multinational airline constantly reaches new global destinations. The expansion has fuelled a boom in trade, tourism and cultural exchange everywhere it flies to.

Deputy Minister of Industry and Trade Phan Thi Thang and Additional Secretary of the Indian Ministry of Commerce and Industry Rajesh Agrawal co-chaired the 5th meeting of the Vietnam-India Joint Sub-Commission on Trade in New Delhi on August 8.

So far this year, the service sector in the northern province of Hung Yen has been recovering strongly as total retail sales of goods and services topped 52 trillion VND (USD 2.2 billion), increasing by over 163% over the same period last year.

The southern province of Binh Phuoc is working towards the goal of raising the contributions of the digital economy to the local gross domestic product (GDP) to 20% by 2025, heard a conference recently held by the provincial People’s Committee.