Business News

Foreign experts have dubbed the Vietnamese economy as a miracle in Asia and a bright spot of economic growth in Asia-Pacific as a result of the Vietnamese Government’s sound and effective economic management policies.

Việt Nam's industry and trade sector has obtained encouraging results in 2022, contributing to the national socio-economic development. The following is a list of the ten most outstanding events of the year as selected by the Ministry of Industry and Trade (MoIT).

This is the greatest rise since 2010. According to the GSO, the GDP growth rates for the years 2011 through 2021 stood at 6.41 per cent, 5.50 per cent, 5.55 per cent, 6.42 per cent, 6.99 per cent, 6.69 per cent, 6.94 per cent, 7.47 per cent, 7.36 per cent, 2.87 per cent, and 2.55 per cent respectively.

Vietnam is set to fetch US$732 billion in foreign trade this year, representing an annual rise of 10%, said the Ministry of Trade and Industry at a year-end meeting in Hanoi on December 26.

The total disbursed volume of foreign direct investment (FDI) in 2022 has reached a new record of US$22.4 billion, up 13.5 percent over the previous year, according to the Ministry of Planning and Investment.

The consumer outlook report from VNDirect Securities Corporation shows that the pent-up consumption trend during the pandemic is gradually decreasing in the context of rising interest rates and a weakening Vietnamese đồng making consumers tighten their purse strings.

Under the Law on Environment 2020 and the governmental Decree No.08, the recycling of products and packages will be mandatory for those who import or produce batteries, tyres, lubricants, and packaging as of January 1, 2024.

Vietnam is set to fetch US$732 billion in foreign trade this year, representing an annual rise of 10%, said the Ministry of Trade and Industry at a year-end meeting in Hanoi on December 26.