UOB PROJECTS VIET NAM’S Q2 GDP GROWTH RATE TO HIT 6 PER CENT
Singapore-based United Overseas Bank (UOB) has projected the economic growth rate of Việt Nam at 6 per cent for the second quarter of this year and for the full year on increasing chip-making demand, the recovery of Chinese and regional economies, as well as ongoing supply chain shifts.
REDUCED WORKING HOURS MUST GO HAND-IN-HAND WITH IMPROVED PRODUCTIVITY
The Vietnam General Confederation of Labour (VGCL), the sole representative of Vietnamese worker's interests and unified trade union organisation in the country, has for the second time this year called on the Government to reduce the weekly working hours for the private sector workers from 48 to 44, and eventually to 40 hours per week.
SMALL BUT QUALITY FDI PROJECTS INVESTED IN SOUTHEASTERN LOCALITIES
Nguyen Tri Phuong, Head of the Dong Nai Industrial Zones Authority, said that the newly-licensed projects in his province are mainly in the semiconductor, electrical component, electronics, and mechanical engineering industries. There are no polluting or labour intensive projects, he noted.
INVESTORS GRAPPLE WITH PPP WASTE PROJECTS
Haiphong Economic Zones Management Authority is set to begin the process of selecting investors for a waste-to-energy scheme in the northern port city. The project will cost VND2.5 trillion ($100 million) and covers over 10 hectares in the city’s Dinh Vu-Cat Hai Economic Zone.
ROBUST INFRASTRUCTURE AND CUSTOMER DEMAND RESHAPE THE TRANSPORTATION MARKET
Recent robust infrastructure development and customer demand are reshaping the transportation market towards diversifying products and improving services quality, providing significant opportunities for railway and waterways which are holding modest market shares.
STOCK MARKET HOLDS INVESTMENT POTENTIAL FROM NOW UNTIL YEAR END
The stock market holds potential for investment this year in the context of the macroeconomic recovery and a rebound in manufacturing and business activities across most sectors. Economic experts and business representatives shared this opinion at the Vietnam Wealth Advisor Summit (VWAS) 2024 "Adapting to Uncertainties", which took place on June 6 at the Pullman Hanoi Hotel.
VIETNAM MAY REQUIRE $7 BILLION INVESTMENT FOR PILOT SEMICONDUCTOR PRODUCTION
Deputy Prime Minister Tran Hong Ha has announced that Vietnam will invest in several research centres to support universities and innovation hubs, with pilot production costs potentially reaching $7 billion, necessitating collaboration between the government and the private sector.
NECESSARILY IMPROVING INSTITUTIONS AND POLICIES FOR CREATIVE ECONOMY ADVANCEMENT
Despite remarkable strides in socioeconomic development, including economic growth, Vietnam continues to grapple with issues pertaining to the quality and sustainability of this growth. The country’s economic expansion is still heavily dependent on the augmentation of input resources and industries that are labor and resource-intensive. The influence of elements directly associated with enhancing quality, labor productivity, competitiveness, and innovation has not met anticipated standards.
