Business News

Deputy head of the Land Department under the Ministry of Natural Resources and Environment Lê Văn Bình says the Land Law when adopted will ensure that ethnic minority groups living in remote and mountainous regions can lead stable lives and have the necessary conditions for socio-economic development.

The report highlights a steep growth in Vietnam's digital financial services on top of a low base. Digital payments are estimated to reach of $126 billion in 2023 in gross transaction value (GTV), up 19 per cent from $105 billion in 2022. By 2030, digital payments in Vietnam is predicted to reach $190 billion in GTV.

The European Union has released $23.6 million of budget support to the Vietnamese government in the framework of the EU - Viet Nam Sustainable Energy Transition Programme (SETP). The move brings the total disbursement by the EU under this programme to $51.5 million.

The National Data Centre, to be built, managed, exploited and run by the Government, will integrate, synchronise, store, share, analyse, exploit, and coordinate data of state agencies in line with legal regulations to create a data warehouse on people and another gathering data from national databases.

The mining industry grew by 6.1 per cent monthly and 8.9 per cent annually. Meanwhile, the processing and manufacturing industry expanded by 2.5 per cent and 11.1 per cent, respectively, electricity production and distribution sector down 1.1 per cent compared to the previous month but up 5 per cent year on year.

At the meeting, NA deputies highly valued the Government’s efforts in providing support to businesses. However, Deputy Dương Văn Phước from central Quảng Nam Province pointed out that businesses were facing various challenges, such as difficulties in accessing capital, heavy tax burdens, and volatile prices.

Compared to the previous month, the CPI has risen by 0.08%. This increase can be attributed mainly to higher tuition fees and domestic rice prices. Compared to December, the CPI is up by 3.2%.

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.