Business News

The State Bank of Vietnam (SBV), the country’s central bank, has made one-off credit growth quota allocations for commercial banks right at the start of 2024, instead of using the recurring allocation system as seen in previous years.

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.

Hospital referral documents and appointment letters for re-examination will be integrated online into the e-identification app VNeID or digital social insurance app VssID, said Trần Thị Trang, head of Health Insurance Department under the Ministry of Health.

Malaysian property company United Overseas Australia (UOA) in December was one of the latest major names to announce a joint venture agreement with CapitaLand Vietnam Holdings to develop a $247 million property project in Vietnam.

With achievements made in 2023, Hanoi has set its tasks and plans for investment, trade and tourism promotion for 2024 to increase its effectiveness. A meeting was held on December 29 to review the performance of Hanoi’s investment, trade and tourism promotion 2023 and set tasks for 2024.

According to the World Bank, Vietnam's Logistics Performance Index (LPI) ranking decreased by four places to 43rd in 2023. Despite this drop, Vietnam's LPI score increased to 3.3 points from 3.27 points in 2018, indicating gradual improvements, particularly in customs efficiency and infrastructure quality.

The S&P Global Vietnam Manufacturing Purchasing Managers' Inde (PMI) posted 48.9 points in December, remaining below the 50 and signalling a fourth consecutive monthly decline in business conditions in the sector. That said, the index rose from 47.3 points in November to point to a softer rate of deterioration.

The economy continued to maintain quarter-on-quarter recovery pace this year, expanding 3.41 percent in January-March, 4.25 percent in April-June, 5.47 percent in July-September, and 6.27 percent in October-December.