Business News

Vietnam's GDP expanded by a healthy 5.66 per cent in the first quarter of 2024, marking the strongest first-quarter growth since 2020. While slower than the previous quarter's 6.7 per cent growth, this momentum indicates the country is on track to achieve its 2024 economic targets.

Addressing a Hanoi seminar with 19 Chinese groups operating in green economy and digital economy, the leader said the meeting, the first of its kind, aims to materialise high-level perceptions reached by Party General Secretary Nguyen Phu Trong and Party General Secretary and President of China Xi Jinping, who agreed to build the Vietnam-China community with a shared future.

In particular, it includes an itemised import and export report, in specific markets and also includes an overview of all State management activities and policy mechanisms related to the import, export market along with details of all the legal documents issued in the year.

“Business and production activities of enterprises remain in big difficulties. Domestic purchasing power has reduced and people are tightening their belts,” the MPI stated. “Demands in the domestic market are still standing at a low level, while manufacturing and processing enterprises have low competition. These are among the biggest difficulties.”

The foreign-invested enterprises play an important role in the textile and garment sector, contributing 65 per cent to the sector’s total export turnover. Major investors mainly come from South Korea, Taiwan, Hong Kong, and China. Among them, South Korea is the largest foreign investor in Vietnam’s textile and garment sector.

Let’s join the upcoming HanoiPlas 2024! One of Vietnam's most significant exhibitions in the plastic and rubber industry showcasing innovative technologies and latest industry trend.

Facilitative visa policies and attractive tourism stimulus programmes have proven effective in attracting a high number of international visitors to Vietnam compared to the same period last year.

Enhancing the quality of the 16 free trade agreements (FTA) that Vietnam has signed with partners will be a helpful measure to aid domestic firms in facilitating exports in the coming time, according to experts.