Business News in Vietnam on April 22, 2024

The prices of Vietnamese paddy and rice have continued to increase, with the Vietnam Food Association reporting a rise in average prices. The average paddy price at fields rose to 8,000 VND per kilo, while the average price for paddy at warehouses expanded to 9,475 VND per kilo. Premium white rice also saw an increase in price.

For export, Vietnamese rice prices are competitive, with 5% broken rice priced higher than Thailand and Pakistan. The 25% broken rice from Vietnam is also sold at a higher price compared to Thai rice.

In other news, US chip giant NVIDIA is exploring investment opportunities in Vietnam. A delegation led by NVIDIA’s vice president is scheduled to visit Vietnam to explore opportunities for establishing an Artificial Intelligence Center for Research and Training and transferring production of graphic processing units to the Vietnamese market.

The VN-Index, after a significant decline last week, shows signs of potential technical recovery. However, geopolitical tensions and exchange rate fluctuations continue to impact investor psychology, leading to a tumultuous trading week in the Vietnamese market.

Construction has started on the final sub-project of the North-South Expressway in Lang Son province. The Huu Nghi-Chi Lang Expressway is expected to cost 11.02 trillion VND and will be completed by 2026.

In the health sector, hospitals and medical businesses are struggling to deploy electronic medical records despite being crucial for digital transformation. The Vietnamese government is emphasizing the importance of implementing EMRs to improve healthcare services.

Overall, the Vietnamese economy is facing challenges and opportunities, with businesses adapting to market dynamics and exploring new investment opportunities. The government is focusing on reforms and regulations to ensure stability and growth in various sectors.