Blog 31.05.2024 Real estate to benefit from FDI, revisions to Land Law The sluggish property market is expected to benefit from a surge in foreign direct investment and amendments to the Land Law, experts told a forum in HCM City on Wednesday. HCM CITY — The sluggish property market is expected to benefit from a surge in foreign direct investment and amendments to the Land Law, experts told a forum in HCM City on Wednesday. Trương Khắc Nguyên Minh, deputy general director of Vietnam Industrial Parks, pointed to the significant increase in FDI in the property sector, which saw a 70 per cent ..read more

Blog 30.05.2024 Vietnam’s exports surge 15% in January-May On the positive side, both the foreign-invested and domestic sectors recorded good export growth. The Ministry of Industry and Trade (MoIT) projected that Vietnam’s exports would total US$156.5 billion in the first five months of 2024, up 15% from the same period last year. The MoIT emphasized that the agency will continue to strongly support businesses in maximizing export opportunities from free trade agreements (FTAs), while proactively coordinating with other ministries and sectors to expedite negotiations and signing of n ..read more

Blog 30.05.2024 5M trade surplus standing at over $8 bln Export revenue hitting $156.7 billion. Vietnam recorded total trade revenue of $305.53 billion in the first five months of this year, up 16.6% year-on-year, figures from the General Statistics Office (GSO) reveal. Of the figure, some $156.77 billion were from exports, a year-on-year decline of 15.2%, and $148.76 billion from imports, up 18.2%, resulting in a trade surplus of $8.01 billion. In May, total trade value was estimated at $66.62 billion, up 9.1% against April and 22.6% year-on-year. Twenty-six products each posted export re ..read more

Blog 30.05.2024 Industrial Production Index rises 6.8% in 5M The manufacturing and processing sector leading growth, up 7.3%. Vietnam’s Index of Industrial Production (IIP) surged 3.9% in May compared to April and 8.9% year-on-year, according to the General Statistics Office (GSO). The manufacturing and processing sector rose 10.6% year-on-year and electricity production and distribution and water supply and sewerage and waste management and remediation activities surged 7.4% while mining dropped 9.4%. The IIP in the first five months soared 6.8% compared to the same period last year. Fift ..read more

Blog 29.05.2024 Ways for businesses to go green ESG compliance has become an inseparable part of the journey enterprises must take towards green transition. Analysts view worsening climate change, energy crises, and geopolitical and economic conflicts as raising myriad problems for sustainable development in the world’s economies. In response to such threats, growing numbers of major markets have set sustainable standards for commodities that require enterprises strictly comply with ESG (environmental, social, governance) criteria. Pressure on businesses From 2016 to 2021, the number of po ..read more

Blog 29.05.2024 E-commerce boosts exports of Vietnamese products Digital platforms have played a key role in helping Vietnamese firms take their high-quality products to the world, insiders have said. Hanoi (VNA) – Digital platforms have played a key role in helping Vietnamese firms take their high-quality products to the world, insiders have said. Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) Phung Quoc Man said export revenues of wooden products and furniture via e-commerce platforms have been on the rise over the past time, reaching 4.89 billio ..read more

Blog 28.05.2024 Prime Minister orders sufficient power supply for peak season Peak time of electricity consumption is June and July. According to Document No. 244/TB-VPCP, released by the Government Office on May 25, Prime Minister Pham Minh Chinh has urged the Ministry of Industry and Trade to diversify power sources to ensure sufficient power supply in June and July – peak time of electricity consumption in Vietnam, the Government News has reported. The ministry can take into account of importing electricity if necessary, the Prime Minister said. He demanded that the 500kV Circuit 3 tran ..read more

Blog 28.05.2024 New land law will increase real estate prices: experts The 2024 Land Law, which does away government mandated prices for land and allows the market to determine them, is likely to increase housing prices, several experts said. The law, presented by the government to the National Assembly, is expected to take effect on July 1, six months earlier than planned. The law entails new policies, including the removal of the government land price framework and its yearly update. Giang Do, Director of Counseling Services at property firm Savills Vietnam, stated that using market pric ..read more

Blog 28.05.2024 FDI attraction hits $11.7 bln in 5M 1,227 new FDI projects were licensed, worth $7.94 billion. Vietnam attracted FDI capital of over $11.07 billion in the first five months of this year, as of May 20, a year-on-year rise of 2%, according to the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment. The country licensed 1,227 new FDI projects during the period with a total registered capital of $7.94 billion, surging 27.5% in volume and 50.8% in value compared to the same period last year. Meanwhile, 440 projects had their capital added, with a total of ..read more

Blog 27.05.2024 Vietnam’s tra fish export tipped to bounce back Vietnamese tra fish export has roared back to growth after a significant drop recorded earlier this year as countries have scaled up their imports, according to insiders. HCM City (VNA) – Vietnamese tra fish export has roared back to growth after a significant drop recorded earlier this year as countries have scaled up their imports, according to insiders. Statistics from the General Department of Vietnam Customs showed that the country raked in an estimated 725 million USD from shipping tra fish overseas during the first five ..read more