DANANG LINES UP FRESH URBAN AREAS TO MATCH ASIAN STANDARDS
Danang is aiming to become an international seaport city and the growth pole of the key economic zone of the central Vietnam and Central Highlands regions. According to a master plan for the development of Danang approved this month, the city’s urban space is organised into 12 subdivisions.
NEWLY-REGISTERED FDI AT 25.7 BILLION USD IN 10M
Total newly-registered investment capital, additional capital, contributed capital for share purchases, and contributed capital from foreign investors totalled 25.762 billion USD in the first 10 months of 2023, an increase of 14.7% over the same period of 2022 and the highest increase since the beginning of this year.
VIETNAM ATTRACTIVE TO U.S., EUROPEAN INVESTORS AS ECONOMIC ALLURE GROWS
Ivan Alver, co-founder of Global M&A Partners (GMAP), highlighted this trend on the sidelines of the GMAP conference organized on November 13 by RECOF Vietnam, an international M&A consulting firm. GMAP is a global alliance of 30 M&A firms covering 50 countries and territories across the Americas, Europe, and Asia Pacific.
ELECTRICITY CONSUMPTION FORECAST TO RISE BY 7% THIS MONTH
The average daily electricity consumption is projected to reach 763.5 million kWh in November, up by 7.09% versus the same period last year, according to Vietnam Electricity Group (EVN). EVN said that the entire power system generated a total of 24.28 billion kWh in October, an 11.3% year-on-year increase.
CONTINUED TAX AND FEE CUTS TO PROMOTE ECONOMIC GROWTH
In the spirit of accompanying businesses and people to overcome difficulties to recover and develop the economy, this year the Ministry of Finance (MoF) has continued to submit to competent authorities and promulgate according to its authority policies on exemption, reduction and extension of taxes, fees and charges.
ENTERPRISES CONTINUE TO FIGHT FINANCIAL DIFFICULTIES
The General Statistics Office (GSO) reported that in the first 10 months of this year, Vietnam’s total state budget revenue sat at $59 billion, down 9.2 per cent on-year. Domestic revenues are estimated to stand at nearly $48.84 billion, down 5.9 per cent on-year. The nine-month reduction rate was only 3.2 per cent on-year – meaning enterprises are facing mounting problems.
BA RIA-VUNG TAU’S FDI ATTRACTION RISES BY 2.78 TIMES
The southern province of Ba Ria-Vung Tau has attracted 20 foreign-invested projects worth 751 million USD since the beginning of this year, five projects higher and a 2.78-fold increase in capital compared to the same period last year.
SUPPORTING INDUSTRY GIANTS FAVOUR VIETNAMESE MARKET
In the last months of 2023, a lot of supporting industry giants have announced their strategies to penetrate the Vietnamese market, given the fact that the country has become a strategic destination in the global supply chain.
