Vietnam Roundup: Gold smuggling, agriculture and rural development, investment from South Korea

Agriculture and rural development

Agribank, a fully state-owned bank, plans to issue 10 million bonds with a total value of $393.5 million to the public. The bonds will have a tenor of ten years with an interest rate of 2-3% higher than the average savings deposit interest rate. The issuance aims to raise capital for the economy’s loan demand, particularly for agriculture and rural development, and small- and medium-sized enterprises. Interested investors, both Vietnamese and foreigners, may register to purchase the bonds from July 11 to August 14. The bonds can also be used as collateral for bank loans at favourable interest rates, Ein News reported.

Gold smuggling

A trial has begun for a group accused of smuggling 4,830kg of gold from Cambodia into Vietnam. The gang aimed to take advantage of the price difference between the two countries, expecting to make around $700,000 from the illegal deal. The trial is expected to last three days, with the defendants accused of smuggling over six tonnes of gold bars. According to Vn Express, the group made a profit of over $697,000 from the illicit trade, with one defendant profiting over $544,000. An arrest warrant has been issued for a suspect who fled the country before prosecution began.

Investment from South Korea

Vietnam anticipates a surge in investment from South Korea, with tens of billions of dollars expected soon. South Korea is a leading investor in Vietnam and is also a major contributor to official development assistance. The Vietnamese government is focused on attracting quality and sustainable foreign investment, with a priority on key sectors such as electronics, renewable energy, and digital economy, Vietnam News explained. Korean enterprises are encouraged to participate in Vietnam's infrastructure projects. A forum and business matching event were held to promote bilateral cooperation between Vietnamese and South Korean businesses.

Media visibility for businesses

Vietnamese businesses now have easier access to global media outlets through international press release distribution services. This opportunity allows companies to expand their reach beyond local borders and build trust with customers and investors. Việt Nam News, in partnership with Media OutReach Newswire, offers reliable and expert press release distribution services, providing access to a network of over 1,500 news outlets worldwide. This collaboration aims to enhance the global visibility and credibility of Vietnamese businesses in the international market.

Securities trading

In June, the number of securities trading accounts in Vietnam increased by 106,580, mostly from individual investors. Foreign investors also opened 185 accounts. In the first half of the year, there were a total of 750,000 new accounts, bringing the total number of accounts for domestic individual investors to nearly eight million, according to Vietnam Plus. Vietnam aims to have nine million accounts for securities trading by 2025 and 11 million by 2030.