FTAS GIVE STRONG BOOST TO EXPORT GROWTH
Viet Nam's exports accelerated from US$5.4 billion in 1995 to around US$364 billion in 2023, mainly fuelled by the signing of free trade agreements, both bilaterally and multilaterally. In 1995, Viet Nam joined ASEAN Free Trade Agreement (ATFA), the first FTA between Viet Nam and foreign partners since the country began Reform policy in 1986, ushering in a new era of regional and international economic integration.
VIETNAM EXPECTS US$500 MLN FOREST CARBON CREDIT SALES
Promoting forest carbon credit trading is a significant driver for climate change mitigation and sustainable forest management. The prospective financial gains derived from forest carbon ought to be rechanneled into forest conservation and management, while ensuring an equitable distribution of benefits to accomplish objectives within the forestry sector.
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.
