INVESTOR CONFIDENCE LIFTS VIETNAM’S FDI ABOVE $26 BILLION
According to the General Statistics Office, Vietnam attracted 2,534 new foreign direct investment (FDI) projects in the first eight months, up 12.6 per cent from last year. However, total newly registered capital slipped around 8 per cent to just over $11 billion. The processing and manufacturing sector drew the largest share, with $6.53 billion, nearly 60 per cent of the total, followed by real estate at $2.37 billion, with the remainder distributed across other industries.
AUTO OUTPUT JUMPS NEARLY 60%, BOOSTS INDUSTRIAL GROWTH
The index of industrial production (IIP) rose 8.5% in the first eight months of this year, driven by strong growth in automobile manufacturing, according to the National Statistics Office (NSO). Automobile output increased 59.6% from a year earlier, the fastest growth among key industrial products. The sector became the main contributor to overall industrial expansion, the NSO said.
VIETNAM SEES NEWLY ESTABLISHED ENTERPRISES JUMP IN AUG
The number of newly established businesses in August jumped nearly 53% compared to the same period last year, with average registered capital rising 71.2%, official data showed. The country reported 20,500 new firms in August, with total registered capital of VND326.1 trillion and 106,900 workers, according to the National Statistics Office.
RETAIL, SERVICE REVENUE IN AUGUST PUT AT VND588 TRILLION
Vietnam’s retail and service revenue amounted to VND588.2 trillion in August, up by 10.6% year-on-year, driven by a spike in holiday-related activities on the occasion of the 80th anniversaries of the August Revolution and National Day (September 2). Data from the National Statistics Office showed that festival, cultural, and tourism events nationwide boosted consumer demand and service activities during the month.
FDI DISBURSEMENT HITS $15.4 BILLION IN EIGHT MONTHS, HIGHEST LEVEL IN FIVE YEARS
Việt Nam's foreign direct investment (FDI) disbursement reached US$15.4 billion in the January-August period, up 8.8 per cent from the same period last year, according to the National Statistics Office (NSO). This marks the highest level for the eight-month period in five years. Of the total, the manufacturing and processing sector received the lion’s share, with $12.57 billion, accounting for 81.6 per cent of all disbursed FDI.
TARGETING GDP PER CAPITA OF US$8,500 BY 2030
Total state budget revenue for the 2021-2025 period is estimated at VND9.4 million billion, far exceeding the set target. The Party Committee proactively proposed exemptions, reductions, and deferrals of taxes, fees, and land rents totaling about VND1.1 million billion, creating conditions for production and business recovery and earning high appreciation from the business community and the public.
FDI INFLOWS INTO DANANG SOAR NINEFOLD IN AUGUST
Danang attracted US$94.9 million in foreign investment in the first 20 days of August, more than nine times the level a year earlier. The August inflows were driven mainly by 10 newly licensed projects worth US$94.8 million. The city also recorded three cases of capital contributions and share purchases in local firms totaling nearly US$0.1 million, while no existing projects adjusted their capital.
VIETNAM’S WOOD EXPORTS EXCEED US$11 BILLION IN JAN-AUG
Vietnam’s wood and wooden product exports were estimated at US$1.45 billion in August, lifting the total in the first eight months of this year to US$11.1 billion, up by 6.3% year-on-year, government data showed. At a regular press briefing this morning, Deputy Minister of Agriculture and Environment Phung Duc Tien said production and exports of wood products had posted positive results despite severe weather events, including storms, floods and landslides.
