Business News

“The prime target is to remove enterprises’ difficulties and boost both supply and demand, helping them to improve productivity and operational effectiveness, then helping ameliorate the economy’s competitiveness. This will also help us to reach the desired growth goal of at least 6.5 per cent this year,” PM Chinh said.

Vietnam has a population of nearly 100 million, ranking 15th in the world, but the size of its digital market stood at only the 25th position among the 39 countries surveyed in 2022 by Financial Time and Omdia.

Vietnam and Singapore are intensifying their bilateral ties in new fields, focusing on digital economy and innovation, infrastructure, and energy, which will help businesses in both economies to benefit from new forms of cooperation.

Foreign ownership limits at credit institutions were expected to be raised to an appropriate level to attract foreign investment, which plays an important role in improving operational efficiency and accelerating the banking sector's restructuring.

Many billion-dollar investment funds have the intention to pour money into the Vietnamese stock market, an event held by VIR has heard. Quan Duc Hoang, chairman of A+ Fund, made the comments about foreign capital at the roundtable 'New Investments amid New Volatility' hosted by VIR at its headquarters in Hanoi on February 7.

Among Southeast Asian countries, Vietnam is the hottest destination for investors pursuing a longer-term vision, according to a survey by Bain.Investors are confident in Vietnam’s long-term prospects, despite the current economic downturn and lack of funding.

The southeast region is preparing necessary conditions in infrastructure, administrative procedures and human resources to welcome a new wave of foreign direct investment (FDI), as investors have flocked to the region right from the beginning of this year.

2023 is predicted to be the year of many challenges for the Vietnamese economy due to the gloomy outlook of the global economy and multiple crises.