The Hoa Phat Group has announced that it had received approval from Australia’s Foreign Investment Review Board to purchase an iron ore mine in the country.
Local construction firms face the risk of bankruptcy as the price of steel has soared 40 percent recently.
Vietnam’s manufacturing sector gained growth pace at the end of the first quarter, with marked increases in output, new orders and exports, leading to stronger rises in employment and purchasing activity, according to a report by the London-based global information provider IHS Markit.