DANANG LINES UP FRESH URBAN AREAS TO MATCH ASIAN STANDARDS
Danang is aiming to become an international seaport city and the growth pole of the key economic zone of the central Vietnam and Central Highlands regions. According to a master plan for the development of Danang approved this month, the city’s urban space is organised into 12 subdivisions.
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NEWLY-REGISTERED FDI AT 25.7 BILLION USD IN 10M
Total newly-registered investment capital, additional capital, contributed capital for share purchases, and contributed capital from foreign investors totalled 25.762 billion USD in the first 10 months of 2023, an increase of 14.7% over the same period of 2022 and the highest increase since the beginning of this year.
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VIETNAM ATTRACTIVE TO U.S., EUROPEAN INVESTORS AS ECONOMIC ALLURE GROWS
Ivan Alver, co-founder of Global M&A Partners (GMAP), highlighted this trend on the sidelines of the GMAP conference organized on November 13 by RECOF Vietnam, an international M&A consulting firm. GMAP is a global alliance of 30 M&A firms covering 50 countries and territories across the Americas, Europe, and Asia Pacific.
ELECTRICITY CONSUMPTION FORECAST TO RISE BY 7% THIS MONTH
The average daily electricity consumption is projected to reach 763.5 million kWh in November, up by 7.09% versus the same period last year, according to Vietnam Electricity Group (EVN). EVN said that the entire power system generated a total of 24.28 billion kWh in October, an 11.3% year-on-year increase.
STOCK MARKET REBOUNDS AS BANKING, MINING, AND SECURITIES STOCKS FUEL RECOVERY
Banking stocks gained ground with most of the stocks in the basket rising, including Vietinbank (CTG), Asia Commercial Bank (ACB), Tiên Phong Bank (TPB), National Commercial Joint Stock Bank (NVB), Vietcombank (VCB), Military Bank (MBB), Bank for Investment and Development of Vietnam (BID), Techcombank (TCB), Sacombank (STB) and VPBank (VPB).
ENTERPRISES CONTINUE TO FIGHT FINANCIAL DIFFICULTIES
The General Statistics Office (GSO) reported that in the first 10 months of this year, Vietnam’s total state budget revenue sat at $59 billion, down 9.2 per cent on-year. Domestic revenues are estimated to stand at nearly $48.84 billion, down 5.9 per cent on-year. The nine-month reduction rate was only 3.2 per cent on-year – meaning enterprises are facing mounting problems.
