Want to be in the loop?
subscribe to
our notification
Business News
FOREIGN INVESTMENT IN VIETNAM HITS $10B
Up to 907 foreign projects, worth $7.56 billion, received investment licences during the reviewed period, up 160 per cent year-on-year while 425 existing projects were allowed to raise $2.59 billion in capital, up 93.3 per cent on last year.
Disbursement of foreign direct investment (FDI) in five months also increased 17.2 per cent to $5.8 billion, the ministry noted.
With $3.42 billion pledged for Viet Nam, South Korea retained its position as the country's leading investor, accounting for 34 per cent of the nation's total FDI. Luxembourg came second with nearly $1.25 billion or 12.3 per cent while Singapore ranked third with $907 million or 8.9 per cent.
Manufacturing and processing sectors continued to be the top sector as it took $6.61 billion, making up 65 per cent of the registered FDI. It was followed by information and communication with $1.3 billion or nearly 13 per cent and real estate with $543 million or 5.3 per cent.
From January to May, the capital city attracted the lion share of FDI with $1.96 billion, equivalent to 19.3 per cent of the country's total FDI. The runner-ups were the northern port city of Hai Phong and southern Dong Nai province with $1.71 billion and $922 million, respectively.
Source: VIR
Related News
ONE-TIME OFFER: COMPLEMENTARY CATHAY PACIFIC LOUNGE PASS
Begin your trip on the right note in Cathay Pacific’s first-ever ferry lounge, located at Shenzhen’s Shekou Cruise home port. Situated at the end of the pier, the ferry lounge offers a breathtaking 270-degree view of the sea. You can immerse yourself in sheer luxury and revel in the panoramic beauty. Catch a glimpse of Hong Kong in the distance.
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.