PRIORITIZING INVESTMENT IN SEMICONDUCTOR PROJECTS
By prioritizing investment in high-tech sectors, mechanical engineering, electronics and supporting industries, especially semiconductors, Vinh Phuc province has attracted major semiconductor corporations from Korea, Taiwan, the United States, and other regions, aiming to establish itself as a key electronics hub in the country.
GOVERNMENT CONSIDERING TAX ON MULTIPLE PROPERTIES
The MoC had earlier called on the financial sector to collaborate on drafting tax policies for second homes or unused properties, as property and housing prices have skyrocketed since the start of the year. In some suburban land auctions, winning bids have soared to as high as hundreds of millions of VND per square metre, significantly above starting prices, distorting the healthy development of the market.
BINH DUONG GRANTS APPROVAL FOR EIGHT PROJECTS WORTH $1.8 BILLION
In addition, leaders of Binh Duong province also granted investment approvals for four other projects, including the $451 million Bac An Tay Urban Area, the $550 million Dong An Tay Urban Area, a $141 million high-end apartment complex combined with commercial services, and the $57 million ICD Rach Bap inland port.
HCMC TARGETS 40% HIGH-TECH CONTRIBUTION TO GRDP BY 2030
HCMC has set an ambitious target for high-tech industries to account for 40% of its gross regional domestic product (GRDP) by 2030, said Phan Van Mai, chairman of the HCMC People’s Committee. Speaking at the Friendship Dialogue 2024, themed “Industrial Transformation: Experiences and Priorities in Development Cooperation,” today, September 24, Mai emphasized the importance of shifting from traditional industries to high-tech and high value-added sectors.
EXPORTS TO SINGAPORE SOAR NEARLY 60% IN AUGUST
Vietnam’s exports to Singapore surged by 58.4% to around S$876.3 million in August, marking the highest level since late 2022, according to Vietnam’s trade office in Singapore. This sharp growth has positioned Vietnam as Singapore’s 18th largest export partner.
VIETNAM’S DIGITAL INDUSTRY REVENUE SOARS IN JAN-SEP
Vietnam’s digital industry has stayed on its high growth path, with revenue hitting a record US$118 billion so far this year, rising by 17.78% against the same period last year. The data was announced by Nguyen Khac Lich, director of the Authority of ICT Industry and Communications under the Ministry of Information and Communications, at the recent Top 10 Vietnam Digital Technology Companies award ceremony.
STATE BUDGET REVENUE PROJECTED TO SURPASS 10% TARGET
The 2024 State budget revenue aims to exceed estimates by 10%. This directive is outlined in Prime Minister Pham Minh Chinh's Official Dispatch 85/CD-TTg, dated September 2, 2024, which was sent to ministers, heads of ministerial-level agencies, government agencies, and chairpersons of provincial and municipal people's committees.
MINISTRY OUTLINES TWO ECONOMIC GROWTH SCENARIOS FOR 2025
In the first scenario, the country’s gross domestic product (GDP) is predicted at 6.5-7 per cent, and inflation rate at 4-4.5 per cent, given the global situation staying complicated and unpredictable, the global economic growth remaining low, and the global macroeconomic environment facing numerous risks. As a result, the average economic expansion for the 2021-2025 period will be 5.8-6 per cent.
