Want to be in the loop?
subscribe to
our notification
Business News
HA NOI ABSORBS ALMOST US$870 MILLION IN FDI LAST MONTH
An estimated US$866.8 million in foreign direct investment (FDI) was channeled into Ha Noi in January, the municipal Statistics Office reported.
An estimated US$866.8 million in foreign direct investment (FDI) was channeled into Ha Noi in January.
That comprises US$859.4 million registered for 10 new projects, US$5.1 million added to six existing ones, and US$2.3 million spent on seven transactions to contribute capital to or buy shares of local businesses.
During the month, 2,529 new companies with combined capital of VND35.4 trillion (US$1.4 billion) were established in Ha Noi, respectively rising 54 percent and 2.4-fold year on year. As many as 3,660 firms resumed operations, up 50 percent.
While 12,300 businesses registered suspension of operations, 457 others were dissolved, increasing 56 percent and 52 percent, respectively, data shows.
The office said consumption demand has continued growing compared to the final months of 2023 as the Lunar New Year (Tet) festival is nearing. Retail sales of goods and consumer service revenue totalled VND 68.8 trillion in January, up 3.2 percent month on month and 9.3 percent year on year.
Nguyen Manh Quyen, Vice Chairman of the Ha Noi People's Committee, said that this year, the city will push forward with administrative reforms to create favorable procedures to attract domestic and foreign investors.
It will organize more trade promotion events both in Viet Nam and abroad to seek potential investors. More high-quality agricultural products and items under the "One Commune, One Product" (OCOP) programs, and those of craft villages will also be developed to serve domestic consumers and tourists, he added.
Source: VGP
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
EXPLORE HONG KONG WITH A COMPANION
From now until 19 August 2024, you can enjoy our exclusive Fly 2 Hong Kong offer on round-trip Economy flights from USD364^ for 2 persons, sponsored by Hong Kong International Airport. Bring along a travel buddy and experience together the excitement and charm of our vibrant home city.
![Card image cap](/uploads/news/Factory%201.jpg)
BUSINESSES INCREASE WISHES FOR SPECIALISED INDUSTRIAL PARKS
Data centres, industrial parks (IPs) reserved for high-tech production, and parks serving Chinese, the United States, Taiwanese, or Japanese investors are gradually being formed to welcome new funding waves, according to Truong An Duong, general manager of North Vietnam and Residential at Frasers Property Vietnam.
![Card image cap](/uploads/news/economic.jpg)
VIETNAM’S H1 ECONOMIC GROWTH QUITE IMPRESSIVE: ADB COUNTRY DIRECTOR
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 per cent in the first half of this year. The growth was mainly driven by strong trade recovery, where export grew by 14.5 per cent and import by 17 per cent over last year, he told the Vietnam News Agency. However, he said, the domestic segment remained sluggish.
![Card image cap](/uploads/news/Infrastructure13.jpg)
REAL ESTATE FIRMS AGGRESSIVELY RESTRUCTURING BOND DEBT
From the start of 2024 to July 5, the market saw 133 private placements and ten bond public offerings, totalling over VNĐ140 trillion. 65.6 per cent of this value was from the banking sector, while real estate bonds accounted for only 24.6 per cent, or over VNĐ34.5 trillion.
![Card image cap](/uploads/news/Eco2.jpg)
GOV’T UNVEILS ACTION PLAN TO ACCELERATE INDUSTRIALISATION
Vietnam aspires to become among the top three industrial powerhouses in ASEAN, with the industrial sector contributing over 40 per cent to GDP. The manufacturing and processing sector is expected to account for around 30 per cent of GDP, with a strong emphasis on high-tech products aiming for over 45 per cent of the sector's value. To further drive the economy, the service sector is projected to contribute over 50 per cent to GDP, with tourism alone generating 14-15 per cent.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).