HCMC’S BUSINESS CONFIDENCE PREDICTED TO IMPROVE IN Q2
In contrast to bleak financial prospects in the January-March period, reflected in the city’s gross regional domestic product expansion of a mere 0.7%, the financial picture may become bright in the year’s second quarter.
MORE THAN $370 MILLION OF FDI POURED INTO DONG NAI PROVINCE
Dong Nai People’s Province granted five foreign-invested enterprises (FIEs) licences to increase their investment capital by a total of more than $370 million on March 31. The project with the largest increase in capital is from Hyosung Dong Nai Co., Ltd. (belonging to South Korea's Hyosung Group) located in the Nhon Trach V Industrial Park. The project increased its investment capital from $742.7 million to $925 million.
FOREIGN SMES POUR CAPITAL INTO VIETNAM
Foreign small- and medium-sized enterprises (SMEs) are paying much attention to Vietnam, given the fact that the number of under-1-million USD projects accounted for nearly 70 per cent of the total number of foreign-invested projects registered in Vietnam in the first three months of this year.
VIET NAM LURES NEARLY US$5.45 BILLION IN FDI IN Q1
Viet Nam attracted US$5.45 billion in foreign direct investment (FDI) in the first quarter of 2023, equal to 61.2 percent of the same period last year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported. Of the above figure, foreign investors pledged to pour US$3 billion in 522 newly-licensed projects, down 5.9 percent in terms of capital volume, and up 62.1 percent in terms of the number of projects.
VIET NAM'S GDP EXPANDS 3.32 PERCENT IN Q1
Viet Nam's GDP expanded 3.32 percent in January-March period, the second growth rate in the last 12 years, the General Statistics Office (GSO) reported Wednesday. The Vietnamese economy is expected to grow by 6.3 percent this year, the World Bank said in its taking stock report themed "Harnessing the potential of the service sector for growth" released on March 13.
CAR INDUSTRY REMAINS FLAT
After strong rebound in 2022 driven by pent-up demand, the local car market has been gloomy for the year to date, which is expected to linger until the year-end. Do Tien Dung, chairman of the Board of Directors at Hang Xanh Motors Service JSC (Haxaco), said that the company counted $3.04 million in profit in Q1 last year.
DONG NAI’S FDI ATTRACTION BOOMING, NEARLY TRIPLE IN Q1
Foreign direct investment in the southern province of Dong Nai surpassed 500 million USD in the first quarter this year, nearly tripling that in the same period last year, according to the management board of the provincial industrial parks.
DOWNWARD TREND IN FDI PERSISTS
According to the Ministry of Planning and Investment's Foreign Investment Agency (FIA), foreign direct investment (FDI) stood at $5.45 billion in the first quarter of 2023, equivalent to just 61 per cent on-year. The reason is said to be the lack of billion-dollar projects, with the $1.32 billion Lego investment making up 41 per cent of FDI in the first quarter last year.
