VIETNAM HAS OVER 15,000 NEW MARKET ENTRANTS IN OCT
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.
VIET NAM A POTENTIAL INVESTMENT MARKET FOR RETAILERS
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.
BOTH FDI INFLOWS AND DISBURSEMENT RAISING
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.
SUPPORTING INDUSTRY: LOW QUALITY, HIGH PRICE
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.
HCM CITY PLANS TO BECOME SMART CITY BY 2030
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).
FIRMS HOLD CHANCES TO BOOST SUPPORTING INDUSTRIES AMID FDI INFLOWS
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.
SINGAPORE TO IMPORT 1.2GW OF LOW-CARBON ENERGY FROM VIETNAM
Singapore’s Energy Market Authority (EMA) on October 24 announced that it has given tentative approval for plans to import 1.2 gigawatts (GW) of primarily wind-generated electricity from Vietnam.
VIETNAM’S ECONOMIC PERFORMANCE IN THE FIRST 9 MONTHS OF 2023
Basic indicators of Vietnam’s economy in the first nine months of 2023: GDP increased by 4.24%, average CPI was 3.16%, foreign investment rose 7.7%, and the trade surplus was estimated at 21.68 billion USD.
