Business News

Deputy Prime Minister Le Van Thanh has signed a Decision approving Viet Nam’s chemical industry development strategy till 2030, with a vision to 2040.

A strategy to 2030 sets sustainable targets with a balanced import-export structure in order to sharpen competitive edge and bolster brand development for Vietnamese products. The idea behind the plan is to raise Vietnam’s position in the global supply chain and serve as momentum for sustainable economic development. The target has been set at an average export growth rate of 6-7% to 2030.

According to forecasts by the International Monetary Fund (IMF), Vietnam will record an economic growth of 6 percent in 2022, among economies with the highest growth rate of the world.

In the draft of the revised Housing Law, the Ministry of Construction (MoC) offered a proposal with two options for apartment ownership: from 50 to 70 years, or according to the life expectancy of the apartment building.

Vietnam is forecast to become the second-largest economy in Southeast Asia after Indonesia and the 20th-largest economy in the world by 2036, according to the World Economic League Table 2022 report by the Center for Economic and Business Research (CEBR).

Vietnam, like many other East and Southeast Asian countries, is further climbing up the global value chain (GVC) thanks to the positive effect of the utilisation of foreign direct investment (FDI), according to the latest report by Hinrich Foundation.

HSBC has lowered its forecast on Viet Nam's inflation rate in 2022 to 3.5 percent from its earlier prediction of 3.7 percent due to stable domestic food price, which is expected to help curb the country's headline inflation.

Six export commodities saw export value from 5 billion USD in the first five months of 2022, according to the General Statistics Office.