Business News

The Mekong Delta’s economic scale is projected to expand 2-2.5 times by 2030, according to Resolution No. 78/ND-CP dated June 18, 2022 by the Government regarding an action plan on the implementation of Resolution No. 13-NQ/TW dated April 2, 2022 by the Politburo on socio-economic development orientations and measures to ensure national defence and security in the Mekong Delta by 2030 and vision to 2045.

Up to 85 per cent of enterprises in the processing-manufactoring and construction sectors expected better and stable business situation in the third quarter of this year, while only 15 per cent predicted that the situation may be tougher, according to a survey conducted by the General Statistics Office (GSO).

Over the last decade, Việt Nam has become a top destination for investment in manufacturing thanks to lower labour costs, simpler supply chain integration, better free trade access, and relative political stability, according to an article freshly published by the news site tradefinanceglobal.com.

Vietnamese textile-garment producers set to earn up to 21 billion USD from exports in the second half of 2022, raising total shipments of the year to around 42 – 43 billion USD, Chairman of the Vietnam Textile & Apparel Association (VITAS) Vu Duc Giang told a press conference on July 21.

According to the World Investment Report 2022, launched this month by the United Nations Conference on Trade and Development (UNCTAD), the world’s foreign direct investment (FDI) recovered in 2021 and hit nearly $1.6 trillion, but this course is unlikely to be sustained in 2022.

The COVID-19 pandemic, which has lasted for more than two years, has taken a toll on all business and trade activities, and especially the Ukraine war has pushed the world economy into a gloomy state. However, in the general picture of the economy, FDI into Vietnam was a bright spot in the first months of the year.

The situation would be better back home as agricultural output is expected to keep pace with domestic demand. As farm produce weighs heavily on the Consumer Price Index (CPI), their supply-demand balance would result in inflationary stability.

Ngo Dang Khoa, Country Head of Markets and Securities Services, HSBC Vietnam, said the country's total goods retail sales and consumer service revenues grew 11.7 per cent year-on-year in Q1 this year, or 7.9 per cent if inflation was excluded (1.9 per cent in 2021).