Business News

At a regular meeting held by the Government Office on July 6, the Ministry of Planning and Investment (MPI) reported that registered FDI in the first six months was valued at nearly $15.2 billion, up over 13 per cent on year. Newly registered FDI surpassed $9.5 billion, marking an increase of almost 47 per cent, while implemented FDI was approximately $10.8 billion, an 8.2 per cent rise.

The government allows direct power sales through two methods: private power lines and the national grid. For private power lines (bypassing EVN), renewable energy producers, including solar, wind, small hydro, biomass, geothermal, ocean wave, tidal, marine current, and rooftop solar systems, can participate. These projects are not restricted by capacity, but must possess or be exempt from an electricity operation licence.

Deputy Prime Minister Tran Hong Ha urged precise definitions of mixed-use office cum hotel (Officetel) and condominium cum hotel (Condotel) in the draft decree outlining certain provisions of the Law on Real Estate Business. In a recent live-streamed session chaired by Deputy Prime Minister Tran Hong Ha, stakeholders convened to deliberate on the aforementioned draft decree.

Under the new decree, business facilities opting for the VAT discount method will enjoy a reduced VAT rate of 8% on eligible goods and services. Business entities, including business households and individual businesses, utilizing the revenue-based VAT calculation method will benefit from a 20% reduction in their VAT calculation percentage rate.

@Druce, the lead consultant of Marina Central Tower and Avison Young Vietnam signed a partnership, enabling Avison Young Vietnam as the official leasing partner for the project. Marina Central Tower is a new international grade A building located in the historical Ba Son area of District 1, expected to start operation in Q2/2025, and bringing an additional of 87,000sqm of office space into the Ho Chi Minh city market.

Total funding into Vietnam tech startups dropped 52.7 per cent to $46.5 million in the first half of 2024, compared with $98.5 million in the first half of 2023, according to a report by Tracxn, a leading global SaaS-based market intelligence platform.

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.

The manufacturing and processing sector led the growth with an 8.7% increase, contributing 2.14 percentage points to the overall economic expansion. The electricity production and distribution sector experienced a significant 13% rise, adding 0.5 percentage point, while the water supply and waste management sector grew by 7%, contributing 0.04 percentage point. However, the mining sector contracted by 7%, driving down the overall growth by 0.24 percentage point.