STANDARD CHARTERED PREDICTS SLOWER GDP GROWTH IN Q3
Standard Chartered's early October report predicts Vietnam's third-quarter GDP growth has slowed to 5.1 per cent on-year, down from 6.9 per cent in the second quarter, with a seasonally adjusted on-quarter growth of 1 per cent.
VIETNAM'S GDP CLIMBS TO 7.4 PER CENT IN THIRD QUARTER
According to the General Statistics Office (GSO), this was lower than the GDP growth rate posted in Q3/2022 (13.67 per cent), but higher than Q3/2021 (-6.17 per cent). The economy grew 6.8 per cent in the first nine months of 2024.
CENTRAL BANK CONFIDENT ABOUT CREDIT GROWTH THIS YEAR
The State Bank of Việt Nam is confident about reaching this year's credit growth target, as lending is expected to accelerate in the remaining months of the year on the recovery of production and business, Deputy Governor of the State Bank of Việt Nam (SBV) Đào Minh Tú has said.
BANKS CONDUCTING MASSIVE BOND ISSUANCES
Besides attracting deposits to meet the heightened credit demand at the end of the year, banks are racing to issue bonds to replenish capital sources. On October 2 Military Bank (MB) announced plans to issue 30,000 bonds via private placement, with a total value approximating $125 million.
OPPORTUNITIES FOR BUSINESSES IN 5G
The Ministry of Information and Communications has, as of 2024, granted licences for frequencies to deploy 5G networks to major operators like Viettel and VNPT, with the goal of achieving nationwide coverage by 2030. Viettel, the first network to successfully test commercial 5G technology in 2019, has now expanded testing to 61 provinces and cities nationwide.
QUANG NGAI OFFERS PREFERENTIAL CONDITION TO DRAW INVESTORS
At a conference in Ho Chi Minh City on October 3, Nguyen Hoang Giang, Chairman of Quang Ngai People's Committee, said, "Industrial development has been identified by the province as a priority, so we are focusing on planning and developing economic zones and industrial parks. The most prominent is Dung Quat Economic Zone, one of five coastal economic zones that the government has prioritised for investment, with plans for a new national oil refinery and energy centre there."
VIETNAM REPORTS FDI JUMP OF 11.6 PER CENT
More than $24.78 billion in foreign direct investment (FDI) flowed into Vietnam in the first nine months of 2024, climbing 11.6 per cent on-year, according to the Foreign Investment Agency. A total of 2,492 new projects were granted investment registration certificates in that period, with registered capital of over $13.55 billion, down 4.3 per cent in number but up 11.3 per cent in terms of capital.
CHANGES DRIVING FOREIGN INVESTOR ACTIVITY IN THE STOCK MARKET
The list of prospective investors for the offering includes 66 individuals and organisations. Notably, Pyn Elite Fund, a foreign fund from Finland, is the largest institutional investor with a registered purchase of 21.5 million shares, representing 15 per cent of the total offering, 2.99 per cent of post-issue capital.
