DIGITAL TRANSFORMATION GREATLY BENEFICIAL TO BUSINESSES
Digital transformation and e-commerce will continue to thrive in 2021 and create a new catalyst for economic growth, according to experts. This is also an opportunity for Vietnamese companies to develop new business strategies.
STARTUPS ATTRACTING FUNDS WITH M&A
In the first three months of 2021, there were 16 deals involving Vietnamese startups compared to 20 deals in 2020 and 30 deals in 2019. Although the number of deals decreased, the total value of the deals (excluding undisclosed funding amounts) reached $150 million, up 34 per cent against last year’s period, according to the latest report by Nextrans Venture Capital Fund.
MEAGRE PROFITS FOR SOME LEAD TO LONGER-TERM HOPES
Vietnam witnessed a growth of import-export activities in the first four months of 2021, hitting a 10-year record high despite the pandemic, but profits have been eaten away by high logistics and raw material costs.
SUNNY FDI OUTLOOK AMID SUPPLY STRAINS
While concerns over interruption of global supply chains linger due to serious outbreaks of COVID-19 in India, Thailand, and elsewhere, Vietnam is attempting to remain on the front foot with continued business confidence and inflow of foreign investment.
VIETNAM TO MAINTAIN STRONG, STEADY GROWTH
Vietnam’s economic growth is expected to rebound to 6.7% this year, despite the recent resurgence of the COVID-19 pandemic in nearby countries, and rise to 7% in 2022, said Andrew Jeffries, ADB Country Director for Vietnam, at an event releasing the latest Asian Development Outlook (ADO 2021) in Hanoi.
STEEL PRICES INCREASE ON GLOBAL ISSUES: MINISTRY
Soaring raw material prices coupled with delays in shipping due to the COVID-19 pandemic significantly pushed up steel prices recently, according to the Ministry of Industry and Trade.
ECONOMIC INDICATORS ADVANCE STRONGLY
In April 2021, Vietnam witnessed an increase of roughly 24.1% year on year in industrial production; new corporate establishments and State funds disbursement hit multi-year highs; import and export value expanded at a 10 year high; and business confidence picked up, according to the latest data released by the General Statistics Office (GSO).
VIET NAM ATTRACTS OVER $12B IN FDI IN FOUR MONTHS
As of April 20, Việt Nam attracted US$12.25 billion in foreign direct investment (FDI), equivalent to 99.3 per cent compared to the same period last year, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
