Business News

According to the latest report by the World Bank, Vietnam’s economy is expected to grow by 4.7 per cent in 2023, with a slow recovery to 5.5 per cent in 2024 and 6 per cent in 2025. After registering 8 per cent real GDP growth in 2022, Vietnam’s economic growth decelerated sharply in the first half of 2023, reflecting a global slump and weaker domestic demand.

1. Support crafted to simplify and unify business prospects
2. New resolution intended for robust economic growth
3. Decoding factors affecting Vietnam's economic recovery
4. Vietnam to develop new energy-based development engine
5. Binh Phuoc targets 20pct of GRDP from digital economy
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1. HCM City proposes foreign currency accounts for overseas Vietnamese
2. Citizen database helps reduce credit default risks
3. Economy improves but challenges remain: official
4. Success stories not hard to find at venture capital funds
5. Legal tweaks could unlock potential
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As firms are facing many difficulties and the capital absorption of the economy in the first half of 2023 hit the lowest level in the past 13 years, the Government has urgently required the banking industry to further reduce interest rates and pump capital into the economy.

The deputy PM said improper application of methods or the use of subjective, non-transparent, and inaccurate data inputs employed during the valuation process has often resulted in inaccurate pricing and caused revenue losses to the State budget. Additionally, the complexity of valuation methods and the lack of comprehensive and reliable land price databases in the market also contribute to inconsistent results.

As of July 20, total newly-registered capital, additional capital, and capital contributions and share purchase by foreign investors stood at nearly 16.24 billion USD, up 4.5 per cent compared to the same period of 2022 and 8.8 per cent compared to the first half of the year.

In a recent meeting to seek Japan's support and expertise in implementing Việt Nam's Industrialisation Strategy, Deputy Minister of Planning and Investment Trần Quốc Phương acknowledged the active cooperation, support and assistance from international friends, notably Japan, in the country's journey towards industrialisation and modernisation.

Shares had a good start on Monday thanks to increased demand toward the end of the trading session. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 1.26 per cent to close the day at 1,241.42 points. The southern bourse’s index increased 1.52 per cent last week.