REVIEW OF VIETNAM’S ECONOMY 2022: GLOBAL & LOCAL HEADWINDS HAVE JUST BEGUN
2022 was filled with geo-political turmoil which reversed the anticipated post-COVID recovery momentum across the globe. While an array of drastic measures have been taken by the Vietnamese government, the local economy is still predicted to suffer disturbances over the coming year, according to a report by Dream Incubator that was released this month.
KEY MISSIONS, SOLUTIONS TO SOCIO-ECONOMIC DEVELOPMENT IN 2023
The Government has recently issued Resolution No. 01/NQ-CP on key missions and solutions to developing the socio-economy, improving the business climate, and enhancing national competitive capacity in 2023.
FDI INFLOWS TO VIETNAM REACH ALMOST $1.7 BILLION IN JANUARY
According to the General Statistics Office (GSO), Vietnam lured $1.69 billion in foreign direct investment (FDI) as of January 20 this year, a year-on-year decrease of 19.8 per cent.
VIETNAM’S CPI UP IN JANUARY
Vietnam’s Consumer Price Index (CPI) in January edged up 0.52% month-on-month, according to the General Statistics Office. The index in January this year rose by 4.89% year-on-year, the highest growth rate in January in five years, the local media reported.
NEW FDI APPROVALS DOWN IN JAN
New foreign direct investment (FDI) approvals had totaled US$1.69 billion in the year till January 20, down 19.8% over the same period last year, according to the General Statistics Office. There were 153 new projects with total registered capital of US$1.2 billion approved, increasing 48.5% and 3.1-fold over the same period last year, respectively.
JOINING FORCES FOR A MORE DEVELOPED AND MORE BEAUTIFUL HAI PHONG
Facing the East Sea with a coastline of over 125 km, Hai Phong is an important port city, an industrial and seaport center, as well as an economic, cultural, medical, educational, scientific, commercial and technological center in the Northern Coast of Vietnam.
VIETNAM’S FDI PROJECTED TO REAP UP TO 38 BLN USD IN 2023
According to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), Vietnam is likely to attract 36-38 billion USD in foreign direct investment (FDI) in 2023. The figure was nearly 22.4 billion USD in 2022.
FOREST EXPORTS TARGET $17.5 BILLION
Despite many difficulties, the export of wood and forest products still reached the target of US$16.9 billion last year. Continuing this momentum, the industry has set an export turnover target of $17.5 billion this year.
