Economy

Vietnam spends $40bln importing computers, electronic components since early 2022

Computers and electronic components continue to be the lead group of imported goods, with a turnover of approximately $40 billion, according to the latest data from General Department of Customs.

Vietnam reports Q2 economic growth at 7.72%, highest since 2011

Second quarter’s GDP increased 7.72 percent year-on-year, the highest growth rate since 2011, reported the General Statistics Office of Vietnam.

Jan.–June foreign investment reported at $14.03 bln, down 8.9%

As of June 20, the total newly registered, adjusted, and contributed capital to buy shares of foreign investors reached $14.03 billion, down 8.9 percent, according to the Ministry of Planning and Investment.

Vietnam’s number of new enterprises hits record high in first half

The number of newly registered enterprises in the first 6 months of 2022 reached a record level with 76,233 enterprises, according to data from the Ministry of Planning and Investment.

Central bank to speed up foreign currency selling to stabilize exchange ...

The State Bank of Vietnam (SBV) will increase the frequency of selling foreign currency amid rising U.S, interest rates, the Government website reported.

Vietnam posts $9.3bn budget deficit in 2020, higher year on year but still within ...

Vietnam lawmakers have passed a resolution to approve the government’s overspending of about $9.3 billion in 2020, approximately 3.4 percent of the year’s GDP and within the limit set by the legislature.

Twenty-seven export items listed in “one-billion-USD” club in five ...

Twenty-seven export items joined the “one-billion-USD” club in the first five months of this year, as compared with only 23 seen in the same period last year, according to trade official.

FDI sector gains over $13.6 billion of trade surplus

The FDI sector reported a trade surplus of over $13.6 billion in the first five months of 2022, according to the Ministry of Industry and Trade.

Vietnam to become third largest economy in Southeast Asia by 2025: ...

The International Monetary Fund forecasted that Vietnam’s GDP will reach $571.1 billion by 2025, surpassing the Philippines and Singapore to become the third largest economy in the Southeast Asia.

Equitization of State-owned enterprises still going slowly

Due to the slow progress of equitization, the scale of state-owned enterprises in the economy is still large, accounting for 7% of total assets and 10% of the equity of all enterprises.

Vietnam’s five-month FDI disbursement rises 7.8 percent

Disbursed volume of FDI reached $7.71 billion over the last five months, up 7.8 percent from the same period last year, according to the Ministry of Planning and Investment.

Gov’t asks for extension to bad debt programme

The Government has asked for an extension to a pilot program designed to handle bad debt from domestic financial institutions during a meeting of the National Assembly on May 24.

Growth target of 6.5 percent remains big challenge: Deputy PM

The targets set for 2022, including the growth target of 6-6.5 percent, remain a huge challenge given the domestic and international situation, said Deputy Prime Minister Le Van Thanh.

Central bank limits foreign loans for trading stock, real estate

The State Bank of Vietnam wants to limit short-term foreign loans for trading stock and real estate as it seeks to prevent speculative bubbles in the market.

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Economy

US spends over $1 bln on toys, sporting equipment from Vietnam

HSBC upgrades Vietnam’s GDP forecast to 6.9% in 2022

Vietnam's 2022 economic growth projected at 7%