Business News

At the meeting, NA deputies highly valued the Government’s efforts in providing support to businesses. However, Deputy Dương Văn Phước from central Quảng Nam Province pointed out that businesses were facing various challenges, such as difficulties in accessing capital, heavy tax burdens, and volatile prices.

Compared to the previous month, the CPI has risen by 0.08%. This increase can be attributed mainly to higher tuition fees and domestic rice prices. Compared to December, the CPI is up by 3.2%.

In comparison to the same period last year, the number of new businesses set up in October this year was 18.5% higher and their capital increased by 17.7%. Their employment rose 71.2% year-on-year.

According to the Ministry of Industry and Trade, Việt Nam's retail market has a scale of more than US$142 billion, 16 per cent of which comes from e-commerce. This scale is forecast to increase to $350 billion, or nearly 2.5 times higher, by 2025.

There were 2,608 newly registered projects with a combined capital of $15.29 billion, up 66.1 per cent in the number of projects and 54 per cent in capital compared to the same period last year. The value of capital contribution and share purchase deals rose by 35.4 per cent to $5.13 billion.

The scale and capacity of Vietnamese supporting industry enterprises are still limited. Data from the General Statistics Office of Việt Nam showed that the number of supporting industry enterprises nationwide currently stands at about 5,000.

The city is one of the first localities in the country to successfully integrate a system of electronic authentication and identification for citizens with the National Population Database managed by the Ministry of Public Security, the National Public Service e-portal, the Database on Administrative Procedures managed by the Government Office, and other essential national databases (social insurance and justice).

Among the 1,300 European businesses inquiring about the investment climate in Vietnam, up to 63% listed the country among the top 10 destinations for foreign direct investment (FDI) firms, the Sai Gon Giai phong (Liberated Saigon) daily reported.