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.
VIETNAM'S ECONOMY IN FIRST TWO MONTHS OF 2024
In the first two months of 2024, economic indicators paint a dynamic picture for Vietnam with the Consumer Price Index (CPI) surging by an average of 3.67%, core inflation increasing by 2.84% and total registered foreign investment reaching nearly 4.29 billion USD.
VIETNAMESE GDP SIZE HITS OVER US$430 BILLION IN 2023
The GDP scale of Southeast Asia reached US$3.86 trillion, of which Indonesia took the lead in the region with an estimated GDP of about US$1.42 trillion; followed by Thailand with US$512.19 billion, Singapore with US$497.35 billion and the Philippines with US$435.68 billion.
VIETNAM’S FDI INFLOW SURGES 38.6% IN TWO MONTHS
Total newly-registered foreign investment capital, adjusted and contributed capital to buy shares and buy contributed capital of foreign investors totalled 4.29 billion USD as of February 20, up by 38.6% compared to the same period in 2023. The disbursement of FDI capital is projected at some 2.8 billion USD, reflecting a 9.8% increase against the same period last year.
OUTWARD INVESTMENT VALUES US$25 MILLION IN JAN-FEB
Vietnamese enterprises invested over US$25 million in 17 new projects aboard in the first two months of 2024, equal to 21.7 percent of the capital registered in the same period last year, the Foreign Investment Agency reported.
EXPORT ORDERS ON THE RISE AS FACTORIES UPGRADE TO COMPETE
At Dai Dung Metallic Manufacture Construction and Trade Corporation, an order was signed until the end of 2024 with a production output of over 150,000 tonnes of steel components, an increase of more than half compared to 2023. In the first days of the year, workers in the factories worked three shifts per day, even throughout the recent holiday, to meet the delivery schedule.
MANUFACTURING CONFIDENCE JUMPS TO ONE-YEAR-HIGH
According to a survey released by S&P Global Vietnam on March 1, Vietnam's manufacturing sector continued to grow marginally in February, with both output and new orders up for the second month running.
