Business News

Nguyễn Đình Thắng, deputy director of Hà Nội Department of Industry and Trade, said that Hà Nội had determined that the development of the supporting industry would be an important solution to have sustainable economic development, increase the ability to attract foreign direct investment, promote technology transfer, and boost the development of small and medium-sized enterprises.

Deputy Prime Minister Tran Hong Ha ratified Decision 1639/QD-TTg on December 19, 2023, endorsing the planning for Hai Duong province for the period 2021-2030, with a vision extending to 2050. The planning scope encompasses the entire natural expanse of Hai Duong province, spanning an area of 1,668.28 km². This includes 12 district-level administrative divisions and 235 commune-level administrative units.

The Asian Development Bank (ADB) has adjusted its growth forecast for Vietnam in 2023 to 5.2%, down from the previous estimate of 5.8% in September. However, the projection for 2024 remains unchanged at 6%, as stated in the Asian Development Outlook (ADO) released in December 2023.

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The new Law on Housing passed by the National Assembly will bring positive changes related to housing ownership of foreigners in Vietnam when it comes into effect in 2025. Talking with VIR, Le Tuan Anh, managing partner of DN Legal, said that foreigners’ right to buy and sell housing from fellow non-nationals is recognised in the new legislation, which was passed on November 27.

The Department of Livestock Production has set its sights on achieving a 4-5% increase in production value next year, contributing to around 28-30% of the nation’s overall agricultural output. This target was discussed at a conference held in Hanoi on December 19. Deputy Minister of Agriculture and Rural Development Phung Duc Tien outlined specific objectives for various livestock products in 2024.