Business News

At a press conference following the Government’s regular meeting in Hanoi on July 1, Phuong said under the first scenario with a growth target of 6% for the whole year, growth in the third and fourth quarters should reach 6.2% and 6.5%, respectively, provided that the COVID-19 pandemic is basically curbed in July and there are no pandemic clusters in industrial parks and no social distancing in major cities and provinces.

While some foreign funds have stopped considering new investments in the Vietnamese market, domestic real estate businesses are actively acquiring projects and increasing land funds to prepare to invite overseas partners when the pandemic is finally under control.

Vietnam’s exports to other major trading partners, including ASEAN, the Republic of Korea and Japan were US$13.8 billion, US$10.5 billion and US$9.9 billion, respectively.

Vietnamese economy grew 5.64 percent in the first six months this year despite the fourth COVID-19 wave which broke out on April 27, according to the General Statistics Office.

Six commodities saw export value of over 6 billion USD during the January-May period, accounting for 63.8 percent of Vietnam's total export turnover.

The World Bank (WB) is a very important development partner, which always supports and actively contributes to Vietnam’s socio-economic development, Prime Minister Pham Minh Chinh has said.

The total inflows of foreign direct investment capital reached US$15.27 billion in the first six months this year, down 2.6 percent compared to the same period last year.

After the fourth wave of COVID-19 emerged, some organizations lowered their growth forecasts for Vietnam. Before the ongoing COVID-19 outbreak, Oxford Economics, IMF, World Bank and HSBC forecast Vietnam's economy to grow by 6.6-6.8% this year. At present, their forecasts have been revised down.