Fdi

The General Statistics Office (GSO) last week reported that after growing 5.03 per cent in Q1 2022, the Vietnamese economy bounced back to 7.72 per cent in Q2, and 13.67 per cent in Q3. Vietnam impressing with GDP growth - illustration photo In the first nine months of this year, it grew 8.83 per cent against the 1.42 per cent in the same period last year and only 2.12 per cent in that of 2020, representing the biggest 5-month increase in a decade. The agro-forestry-fishery expanded 2.99 per cent on-year, while the rates of the industry and construction sector and the service sector were 9.44 and 10.57 per cent, respectively. “The 9-month economic situation has flourished in almost all sectors. The economy’s production and business activities in Q3 have strongly grown on-year,” said GSO general director Nguyen Thi Huong. “Many sectors have bounced back strongly, especially industrial production, making it more favourable for the economy to reach the desired growth … [Read more...] about Vietnam impressing with GDP growth

Coca-Cola Vietnam builds a factory in Long An. — Photo cafef.vn Peeyush Sharma, General Director of Coca-Cola Vietnam Beverage Company Limited (Coca-Cola Vietnam), said the firm is preparing a factory project in Phu An Thanh (IZ) in Long An Province. According to a representative of Coca-Cola Vietnam, the factory, spanning 19 ha with a total investment of US$136 million, will be the fourth since the brand set foot in Viet Nam since 1994. He added it would be the largest factory of Coca-Cola in Viet Nam, applying an intelligent factory model and modern techniques. In addition, the company is committed to supporting the local community. Nguyen Thanh Thanh, head of the Management Board of Long An Economic Zone, directly signed the certificate of investment registration and construction of a factory in Phu An Thanh Industrial Park for Coca-Cola Viet Nam. He told local media: “As it is a big, reputable investor with complete legal documents, we will facilitate local investment … [Read more...] about Coca-Cola Viet Nam to build a factory in Long An

Deputy head of the German Embassy in Hanoi, Simon Kreye spoke at the reception on the occasion of the German Unity Day, which was organised at the ambassador’s residence, that the relationship between Vietnam and Germany has improved, even in the pandemic. Germany has donated more than 10 million vaccine doses and valuable, life-saving medical equipment to Vietnam. This collaboration will continue. “As a result, Germany and Vietnam have not distanced themselves from each other during the pandemic, but have come closer to each other. The German-Vietnamese friendship has stood the test of time during the pandemic,” he said. Germany has donated more than 10 million vaccine doses and valuable, life-saving medical equipment to Vietnam. This collaboration will continue. In recent months, there has been a welcome revival in travel between countries, including official delegations, such as Minister of Foreign Affairs Bui Thanh Son's trip to Germany last week. In addition to … [Read more...] about Germany to support Vietnam in fostering socioeconomic growth

Illustrative image (Source: VNA) Sydney (VNA) – Along with the self-recovery of businesses and people, economic achievements that Vietnam has gained so far this year have shown the efficiency of the Government’s economic management and the bright prospect of the country’s economy this year, held Associate Prof. Dr. Chu Hoang Long from Crawford School of Public Policy, the Australian National University. Long cited the General Statistics Office data showing that the Vietnamese economy expanded 8.8% year on year in the third quarter of 2022, the highest in 10 years. The country’s exports in the first nine months of this year grew over 17%, while the disbursement of foreign direct investment (FDI) increased 16%, a record rate in the recent five years, ensuring major economic balances. A number of reputation credit rankers in the world such as S&P and Moody’s has raised Vietnam’s credit ranking, he noted. The expert underlined that economic results of the country has … [Read more...] about Australian expert optimistic about Vietnam’s economic outlook

Binh Duong New City is a smart city in the southern industrial hub of Binh Duong Province. — VNA/VNS Photo The southern industrial province of Binh Duong eyes an economic growth rate of 8 per cent this year, according to its People’s Committee. Last year, COVID-19 took a heavy toll on the economy, lowering growth rate to just 2.79 per cent. But things are back on track post-pandemic, and growth rate has risen to 8.27 per cent year-on-year in the third quarter, with the year-to-date figure being 7.36 per cent. With this momentum, growth rate for the full year is likely to exceed 8 per cent. Revenues so far this year are an estimated VND48.5 trillion (US$2.03 billion), or 81 per cent of the full-year target. One of the fastest growing provinces in the southern key economic zone and among Viet Nam’s hottest investment destinations, Binh Duong has attracted $2.6 billion worth of FDI this year, 45 per cent more than the full-year goal and up 74 per cent year-on-year. Its … [Read more...] about Binh Duong economy recovers strongly post-COVID