Business News

The newest edition of the Global Innovation Index (GII) ranked Vietnam 44th in the world, which is a considerable improvement on its average rank of 68th during 2013-2015. The country continues to take the lead in the lower-middle-income group since the previous year.

Only a few spare parts are produced domestically, forcing domestic manufacturing and assembling enterprises to import automobile spare parts from other sources, experts said.

Vietnam may attract about 30 billion USD in foreign direct investment (FDI) in 2021, posting a year-on-year rise of 2 percent, economists forecast, pointing to positive signs in FDI attraction in the first eight months of 2021 despite the complexities of COVID-19.

Banks have been promoting the mobilisation of medium- and long-term capital through bond issuance to meet the State Bank of Vietnam (SBV)’s requirements on capital adequacy ratio (CAR).

The Directive states that the fourth COVID-19 wave tied to the Delta variant has produced tremendous disruption in production, circulation, consumption and export of farm produce, particularly in areas placed under social distancing, leading to high stockpiles and tumbling prices.

The positive achievements in socio-economic development in 2020 amid the prevalence of COVID-19 have offered Vietnam a further premise for the successful realisation of its socio-economic development targets this year.

Vietnamese enterprises invested 575 million USD abroad in the January-August period, up over 74 percent over the same period last year, according to the Ministry of Planning and Investment's data.

Vietnam attracted 14 billion USD in foreign direct investment (FDI) in the first eight months of this year, only 2 percent lower than the same period last year, showing foreign investors’ confidence in Vietnam’s economic scenario in mid-and long terms.