Deputy Director of the FIA Do Van Su said disbursement of foreign investment this year is expected to hit USD 22-23 billion. Su acknowledged that the opening of China’s economy might affect Vietnam's foreign investment attraction, adding that China remained the leading investment destination in the region, so when they opened up, capital will flow into this market while that to Vietnam and other economies in the region will be limited. On the contrary, the investment capital movement of the Republic of Korea (RoK), Japan, and Taiwan (China) will be accelerated. This shift will be accelerated until 2025, and Vietnam will be a preferred investment destination for investors, he added. Currently, the RoK, Japan and Taiwan (China) are Vietnam’s major sources of foreign investment and they have constantly increased their investments in Southeast Asian countries. According to FIA, essential factors for FDI to continue to prosper in 2023 include economic growth results in 2022 and … [Read more...] about Vietnam’s FDI projected to reap up to USD 38 bln in 2023
Vietnam urban sustainable development forum
Under the first, the national GDP will grow 6.47%, inflation 4.08%, and export 7.21%, and export-import revenue is projected at USD 5.64 billion, heard a workshop in Hanoi on January 12. The figures are set at 6.83%, 3.69%, 8.43% and USD 8.15 billion under the second. CIEM Director Tran Thi Hong Minh said Vietnam stayed updated on assessments and recommendations last year in order to maintain macro-economic stability, rein in inflation, and facilitate reform and socio-economic recovery and development. Such efforts paid off as the national GDP grew 8.02% in 2022, the highest in the 2011-2022 period, outpacing the target of 6.5% set by the National Assembly, and inflation was curbed at 3.15%, below the 4% projected earlier, she noted. Nguyen Anh Duong, head of the CIEM's General Research Department, presented a report on Vietnam’s economy in 2022 and prospects in 2023, which said there would be more impacts on the economy this year, such as tight monetary policies adopted by … [Read more...] about CIEM sketches out Vietnam’s 2023 economic scenarios
The article cited the speech by Vietnamese Minister of Plan and Investment Nguyen Chi Dung at a start-up investment forum in December 2022 as saying that in recent years, more and more FDI flows have come to Vietnam’s start-ups. In the first nine months of 2022, Vietnam's innovative start-ups attracted about 500 million USD. Over the past two years, startups have attracted nearly 2 billion USD in foreign investment, which proved that “Vietnamese start-ups are increasingly attractive to international and regional investors.” In 2021, Vietnamese start-ups raised 1.4 billion USD in investment capital, 56% higher than the level of 894 million USD in 2019. The Vietnam National Innovation Center estimates that the capital attraction capacity of Vietnamese start-ups will maintain an upward trend in 2023. Thirty-nine investment funds have committed an investment of 1.5 billion USD to Vietnam in the period 2023-2025, bringing the total investment for Vietnamese start-ups to 5 billion … [Read more...] about Vietnam joins “golden triangle of start-ups” in Southeast Asia: Hong Kong newspaper
OVs in Thailand attend the programme. (Photo: VNA) Bangkok (VNA) – Overseas Vietnamese ( OVs ) in Thailand gathered at a programme hosted by the Vietnamese Consulate General in Khon Kaen province on January 29 to celebrate the traditional Lunar New Year (Tet) festival – the longest and biggest traditional holiday of Vietnam. In his speech at the event, Vietnamese Consul General Chu Duc Dung briefed guests on socio-economic development achievements of Vietnam, as well as the agency’s operation, especially activities to connect Vietnamese expats in the northeast region of Thailand with the homeland. He spoke highly of the role played by OVs for the homeland’s development, affirming that they have been contributing to preserving Vietnam’s cultural identities and values through cultural and religious exchange activities in Thailand. The Vietnamese community abroad is an indispensable part of and important resources for the homeland's development, he stressed, hoping … [Read more...] about OVs in Thailand celebrate traditional Lunar New Year
Phan Cong Chanh, CEO of developer Phu Vinh Group, said the real estate market will pose more risks than opportunities for investors in 2023, adding that would-be investors should save their money instead of spending it. According to Chanh, in the long term the market will benefit from rosy economic growth prospects, better legal frameworks and improved stock markets, especially the corporate bond market, But he said this would be gradual recovery that wouldn’t flourish to its full potential until 2-4 years from now. The Central Institute for Economic Management put forth two economic growth scenarios for this year. Accordingly, GDP growth will either stand at 6.47%, inflation at 4.08%, export growth at 7.21% and trade balance at $5.64 billion, or at 6.83%, 3.69%, 8.43% and $8.15 billion, respectively. With the draft amendments to the Land Law submitted to the National Assembly for potential approval in October, and amendments to other related laws such as the Law on Real Estate … [Read more...] about Should you invest in property or save your money this year?