Markets across the capital city of Hanoi are teeming with fresh produce and traditional offerings as locals are preparing to bid farewell to the ong Cong (Land Genie) and ong Tao (Kitchen Gods) to the heaven, an important precursor to the Tet (Lunar New Year) celebrations.

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,341 VND/USD on January 17, up 8 VND from the previous day.

Founded in 2013, Vietnam Public Commercial Joint Stock Bank (PVcomBank) is the result of a merger between Petro Vietnam Finance Joint Stock Corporation (PVFC) and Western Commercial Joint Stock Bank (WesternBank). Over the years, PVcomBank has expanded to become the fifth-largest digital bank in Vietnam. Thanks to its commitment to deliver ‘Banking for Everyone’, it now serves over three million customers across various segments in Retail, SME, commercial and corporate.

Only 9% of households in Vietnam own a car, data from a mid-term population and housing survey for 2024 from the General Statistics Office (GSO) shows.

Remittances to Vietnam in 2024 are estimated to reach about 16 billion USD, showing the confidence of overseas Vietnamese in the domestic situation.

The Vietnamese Business Association in the UK (VBUK) has announced plans to reshape the landscape of Vietnam-UK trade relations, focusing on driving business community forward, fostering its unity and strengthening connections with their Vietnamese partners both at home and abroad.

Cashless payment activities and the digital transformation of the banking sector is continuing to achieve positive results.

Prime Minister Pham Minh Chinh has issued a decision on setting up a steering committee for regional and international financial centres.

The northern port city of Hai Phong achieved a gross regional domestic product (GRDP) growth rate of over 11% last year, ranking third nationwide in terms of economic development.

A proposal on the Lao Cai - Hanoi - Hai Phong railway project is expected to be submitted to the Prime Minister for approval soon so as to kick off construction by the end of this year.

In the dynamic global economic landscape, the asset management sector is emerging as a standout field, with rapid growth fuelled by wealthy, middle-class and high-net-worth investors, transitioning towards professional asset management models and high-tech applications.

The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) dipped below the 50.0 no-change mark for the first time in three months during December 2024, to be at 49.8 from 50.8 in November.

A total of 76,179 enterprises resumed operations in Vietnam in 2024, according to the Agency for Business Registration under the Ministry of Planning and Investment.

Eight Vietnamese rice enterprises have been awarded 200,000 AUD (approximately 3.16 billion VND, or over 124,300 USD) for their efforts in reducing greenhouse gas emissions in rice production.

With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.

The Trade Remedies Authority of Việt Nam recommends businesses involved in the production of the goods carefully review the investigation notice and comply with Indian authorities.

The People’s Committee of the central city of Hue on January 1 announced the organisation of the Visit Vietnam Year 2025 and the Hue Festival 2025.

Localities across Vietnam on January 1 organised ceremonies to welcome visitors on the first day of the New Year 2025, pinning high hopes for a prosperous year.

The State Bank of Vietnam has set a credit growth target of 16% for 2025, moving toward eliminating the credit room system to create a more dynamic financial environment.

Vietnam’s economic diplomacy in 2024 has asserted a leading role with remarkable breakthroughs, achieving key objectives and opening up a “grand path” full of hope for fast and sustainable development.