SEVEN COMMODITIES WITH EXPORT VALUE OF OVER 10 BILLION USD
In the first 11 months of 2023, seven commodities of Vietnam posted export value of over 10 billion USD, accounting for over 60% of the country's total export turnover.
HANOI'S SUPPORTING INDUSTRY PROMOTES TECHNOLOGY INVESTMENT
Nguyễn Đình Thắng, deputy director of Hà Nội Department of Industry and Trade, said that Hà Nội had determined that the development of the supporting industry would be an important solution to have sustainable economic development, increase the ability to attract foreign direct investment, promote technology transfer, and boost the development of small and medium-sized enterprises.
PLANNING APPROVED FOR HAI DUONG PROVINCE IN 2021-2030 AND TO 2050
Deputy Prime Minister Tran Hong Ha ratified Decision 1639/QD-TTg on December 19, 2023, endorsing the planning for Hai Duong province for the period 2021-2030, with a vision extending to 2050. The planning scope encompasses the entire natural expanse of Hai Duong province, spanning an area of 1,668.28 km². This includes 12 district-level administrative divisions and 235 commune-level administrative units.
VIETNAM’S ECONOMY PROJECTED TO GROW BY 6% IN 2024
The Asian Development Bank (ADB) has adjusted its growth forecast for Vietnam in 2023 to 5.2%, down from the previous estimate of 5.8% in September. However, the projection for 2024 remains unchanged at 6%, as stated in the Asian Development Outlook (ADO) released in December 2023.
NEW LAW CLEARS PATH FOR FOREIGN BUYERS
The new Law on Housing passed by the National Assembly will bring positive changes related to housing ownership of foreigners in Vietnam when it comes into effect in 2025. Talking with VIR, Le Tuan Anh, managing partner of DN Legal, said that foreigners’ right to buy and sell housing from fellow non-nationals is recognised in the new legislation, which was passed on November 27.
REGIONAL ECONOMIES TO SEE SLIGHT GROWTH NEXT YEAR – REPORT
The Mastercard Economics Institute (MEI) has expected modest growth across Asia Pacific in 2024, although regional economies may stabilize and key drivers like exports and tourism approach pre-pandemic levels. The region’s outlook, detailed in the report “Economic Outlook: Balancing Prices & Priorities”, forecast upward trends in economic performance in Singapore, Malaysia, the Philippines and Vietnam.
HONG KONG FOR VIETNAM: FINANCIAL GATEWAY TO GBA, ASIA AND THE WORLD
This is an event in a series of promotional activities organized by VCCI-HCM in collaboration with the Hong Kong Economic and Trade Office in Singapore (HKETOSIN) and Hong Kong Investment Promotion Bureau (InvestHK) to promote cooperation between Hong Kong - Ho Chi Minh City in particular and Hong Kong - Vietnam in general.
VIET NAM SHOULD EXTEND IMPLEMENTATION OF ECONOMIC SUPPORT PROGRAM INTO NEXT YEAR: WB
As Viet Nam’s economy still faces headwinds, the authorities could consider extending the implementation of the economic support program (2022-2023) into next year, suggested the World Bank (WB). In its Viet Nam Macro-monitoring November 2023, the WB noted that November data continued to show improvement in economic activities.
