VIETNAM INNOVATION CHALLENGE 2024 KICKS OFF
The Vietnam Innovation Challenge 2024 has been formally introduced, with a call for participation from individuals and organisations. The launch was hosted by Vietnam's National Innovation Center (NIC) in collaboration with Meta Corporation on March 18.
HANOI HOUSING MARKET FACES DESPERATE SHORTAGE OF AFFORDABLE SUPPLY
The Hanoi residential real estate market is encountering significant challenges in terms of undersupply, particularly in the realm of affordable housing. Both low-rise buildings and flats are currently experiencing the most substantial shortage in new supply witnessed over the past decade.
VIETNAM’S Q1 ECONOMIC EXPANSION PROJECTED AT 5.5% – UOB
Vietnam’s economic trajectory in the first quarter of this year indicates solid growth momentum, with gross domestic product (GDP) expected to grow by 5.5% year-on-year, according to a report of the United Overseas Bank (UOB). The positive outlook comes on the heels of a robust recovery in the fourth quarter last year, where GDP growth accelerated to 6.72% year-on-year, largely driven by a rebound in manufacturing.
VCCI PROPOSES ZERO TAX RATE TO BE MAINTAINED FOR EXPORTED SERVICES
The Việt Nam Chamber of Commerce and Industry has proposed a zero-value added tax (VAT) rate to be maintained for exported services, over worries that tax hikes would undermine the competitiveness of Vietnamese providers against foreign rivals.
SYNDICATED LENDING PROPOSED TO REDUCE IMPACTS OF LOAN LIMIT POLICY
During a dialogue held by Vietnam Investment Review on Monday, experts said under the Law on Credit Institutions, which will take effect from July 1 this year, banks must reduce the loan limit for a customer from 15 per cent to 10 per cent, and for a customer and their related parties from 20 per cent to 15 per cent according to a roadmap from July 1, 2024 to January 1, 2029.
VIET NAM'S EXPORT RECOVERY GAINS MOMENTUM
Việt Nam’s exports have been on a path of recovery since the beginning of the year. According to a report from the General Statistics Office (GSO), the total export turnover of goods in the first two months of 2024 reached US$59.34 billion, a 19.2 per cent increase compared to the same period last year.
VIETNAM CONTINUES TO BE ASEAN HIGHLIGHT
“The consensus is for GDP growth in ASEAN to rise from 2023’s levels in 2024 on stronger tourism activity, lower inflation and interest rates, and the rebound of the global tech sector,” FocusEconomics said. “Nevertheless, muted activity in China and the El Niño knock-on effects will pose headwinds to growth. Weaker-than-expected external demand and geopolitical tensions pose downside risks.”
BINH DUONG PLANS TO BECOME FAVOURABLE DESTINATION FOR INVESTORS
Leaders of Binh Duong met on March 11 to appraise provincial planning and agreed that to achieve a higher stature, the province should strive to become a bright spot for innovative technology and join global supply chains.
