FIRST 9 MONTHS: REGISTERED FDI INTO VIETNAM UP BY 11.6%
As of September 30, the total registered capital from new licenses, adjustments, and capital contributions for share purchases by foreign investors reached over 24.78 billion USD, up 11.6% compared to the same period in 2023.
INFOGRAPHIC ON THE SOCIO-ECONOMIC SITUATION IN SEPTEMBER AND NINE 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.
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."
