Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM STRUGGLES TO MEET 2023 PUBLIC INVESTMENT TARGET
With less than six weeks before the year 2023 is out, Vietnam is seeing the public investment disbursement target for the year as an impossible mission.
Data from the Ministry of Finance showed that the nationwide disbursement results up to October amounted to 52% of the full-year plan and achieved 56% of the target set by the prime minister.
However, these disbursement figures displayed notable disparities among ministries and localities, with 15 central agencies disbursing less than 10%, and four localities falling below the 30% threshold. The ministry has expressed concerns that meeting the minimum 95% disbursement target is becoming increasingly difficult.
The substantial remaining budget for disbursement raises worries about the feasibility of achieving year-end goals. Legal constraints, such as issues related to land conversion, forest and agricultural land use, mineral extraction, and a shortage of construction sand, contribute to project delays.
Complications in land clearance, planning, and public dissent over compensation and resettlement plans are identified as key obstacles.
In light of these challenges, the ministry has recommended reviewing slow-disbursing projects and urges ministries, agencies, and localities to prioritize projects with higher potential for accelerated disbursement.
Source: The Saigon Times
Related News
![Card image cap](/uploads/news/bn-01.jpg)
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.
![Card image cap](/uploads/news/Security.jpg)
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.
![Card image cap](/uploads/news/eco2.jpg)
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.
![Card image cap](/uploads/news/FDI.jpg)
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.
![Card image cap](/uploads/news/Eco4.jpg)
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
![Card image cap](/uploads/news/Eco3%20%281%29.jpg)
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.