Ho Chi Minh City attracted nearly $2.9 billion in foreign direct investment in Q1, a 220% increase year-on-year, with notable projects including TikTok Shop Vietnam's $125 million investment and a $1.7 billion injection into VLD Investment and Finance JSC. This strong inflow reflects foreign investor confidence and supports the city's economic growth targets.
The State Bank of Vietnam's SIMO system has successfully prevented nearly 4,000 billion VND in suspected fraudulent transactions across 99 credit institutions and 50 payment intermediaries, significantly enhancing security and consumer trust. This comes as non-cash payments continue to grow robustly, supported by expanded infrastructure and biometric customer data verification efforts.
Cake digital bank, a brand of VPBank, has launched Cake GlobalX, a new international money receiving service designed to simplify cross-border payments for Vietnamese online sellers and freelancers. The service allows users to receive funds from abroad quickly in multiple currencies, enhancing convenience and reducing intermediaries.
Vietnamese companies across various sectors are re-implementing or expanding work-from-home policies in response to surging fuel prices, aiming to cut operational costs and support employees. This trend is driven by global energy price increases and government encouragement for energy saving.
7-Eleven Vietnam explains its slower-than-expected expansion, prioritizing profitability per store over rapid growth, with 150 mostly profitable stores. The company is focusing on online sales via livestreaming and leveraging AI from GreenNode (a VNG subsidiary) for operational efficiency and cost savings.
The Vietnamese dong slightly depreciated against the US dollar at Vietcombank, while the black market saw a decrease in the dollar's value. Globally, the dollar strengthened due to increased safe-haven demand following geopolitical tensions in the Middle East.
Information provided for educational purposes only. Past performance does not guarantee future results. Data sourced from public Vietnamese market feeds.