Business News

The monthly statistical data presents current economic and social statistics on a variety of subjects illustrating crucial economic trends and developments, including production of agriculture, forestry and fishery, business registration situation, investment, government revenues and expenditures, trade, prices, transport and tourism and so on.

Currently, 20 countries and territories have investment projects in the province. South Korea has the most investors, with 231 projects and more than US$3 billion of registered capital. These figures show that FDI flows into Vinh Phuc province continue to grow and set new records in the context of challenging economy.

In July alone, the value was VNĐ528.3 trillion, a rise of 9.4 per cent from the same period last year, with food sales up 12.1 per cent, household utensils 5.3 per cent, garments 6.9 per cent, lodging and catering services 13.9 per cent and tourism 6.8 per cent.

According to a report released by Hanoi Statistics Office on July 29, the total outstanding credit in Hanoi had reached $164.04 billion by the end of July, marking an increase of 1.12 per cent compared to the previous month and an 8.84 per cent increase from the end of 2023.

The Asian Development Bank (ADB) maintained its growth forecasts for Vietnam at 6.0% and 6.2% in 2024 and 2025, respectively, on the back of strong growth in the first half of 2024. However, the trade-related manufacturing - one of the main drivers of recovery - is expected to slow down in the coming time while domestic demand will remain subdued. Inflation is projected to stabilize at 4% in 2024 and 2025.

The consumer price index (CPI) rose 0.48 per cent in July on rising domestic petrol prices, higher demand for electricity and higher health insurance premiums following a 30 per cent increase in base salaries from the beginning of this month, data of the General Statistics Office (GSO) showed.

Mobile network operators in Vietnam are rapidly deploying 5G infrastructure, poised to unlock new revenue opportunities for themselves and for domestic and international technology firms. This advancement is set to play a pivotal role in accelerating the country’s digital transformation and fostering the development of its digital economy.

Speaking at a conference on H2 investment opportunities, Dat Tong, senior market strategist of Exness Investment Bank, said, “The advent of working from home during the pandemic is here to stay, but there is much debate about the productivity of working from home. However, it cannot be denied that the adoption of technology by employees increases to an unprecedented high level due.”