VN TO CONTINUE PROACTIVE, FLEXIBLE, TIMELY AND EFFECTIVE MONETARY POLICIES: PM ASKS
Prime Minister Phạm Minh Chính has asked proactive, flexible, timely and effective monetary policies to be continued to promote the country’s socio-economic development while ensuring the safety of the national financial and banking system.
NEXT FEW YEARS WILL DECIDE FUTURE OF VIETNAM'S SEMICONDUCTOR INDUSTRY
“Although Vietnam has entered the ecosystem, it has only contributed human resources, not the entire market,” said Nguyen Thanh Yen, CEO of semiconductor design services provider CoAsia Semi. “Vietnam has successfully attracted many major semiconductor corporations over the years, not because it is a potential commercial market, but because these tech giants choose to invest and expand here. Samsung, Intel, Hana, and Micron come to Vietnam primarily to leverage its workforce.”
INDUSTRIAL PROPERTY COULD BECOME NEXT KEY FDI MAGNET
Experts at last week’s Vietnam Industrial Property Forum 2024, co-organised by Vietnam Investment Review and the Vietnam Industrial Real Estate Association in Ho Chi Minh City, confirmed that stable foreign investment growth is providing a strong foundation for the industrial property sector.
INFOGRAPHIC SOCIAL-ECONOMIC SITUATION IN THE JULY AND SEVEN MONTHS OF 2024
The monthly statistical data presents current economic and social statistics on a variety of subjects illustrating crucial economic trends and developments, including production of agriculture, forestry and fishery, business registration situation, investment, government revenues and expenditures, trade, prices, transport and tourism and so on.
VINH PHUC ATTRACTS OVER US$430 MLN OF FDI FUND IN H1, 2024
Currently, 20 countries and territories have investment projects in the province. South Korea has the most investors, with 231 projects and more than US$3 billion of registered capital. These figures show that FDI flows into Vinh Phuc province continue to grow and set new records in the context of challenging economy.
RETAIL SALES, SERVICES REVENUE UP IN SEVEN MONTHS
In July alone, the value was VNĐ528.3 trillion, a rise of 9.4 per cent from the same period last year, with food sales up 12.1 per cent, household utensils 5.3 per cent, garments 6.9 per cent, lodging and catering services 13.9 per cent and tourism 6.8 per cent.
HANOI'S CREDIT GROWTH SURGES IN FIRST SEVEN MONTHS
According to a report released by Hanoi Statistics Office on July 29, the total outstanding credit in Hanoi had reached $164.04 billion by the end of July, marking an increase of 1.12 per cent compared to the previous month and an 8.84 per cent increase from the end of 2023.
VIETNAM’S ECONOMIC OUTLOOK OPTIMISTIC YET NECESSARILY PRUDENT
The Asian Development Bank (ADB) maintained its growth forecasts for Vietnam at 6.0% and 6.2% in 2024 and 2025, respectively, on the back of strong growth in the first half of 2024. However, the trade-related manufacturing - one of the main drivers of recovery - is expected to slow down in the coming time while domestic demand will remain subdued. Inflation is projected to stabilize at 4% in 2024 and 2025.
