PM Pham Minh Chinh is seeking National Assembly’s approval to allow Ho Chi Minh City to retain 23 percent of its budget revenues, up from 18 percent, to create conditions for development.
Total loans of Vietnam's banking system as of June 15 from end-2020 expanded 5.1 percent, State Bank of Vietnam’s Deputy Governor told local media on Monday morning.
Vietnam's GDP is expected to rise by 5.8% in the first six months of 2021 despite the negative impacts from pandemic, according to figures released by the Ministry of Planning and Investment.
The rising costs of imported raw materials are pushing up prices and threatening to cause inflation amid the ongoing economic recovery.
- Vietnam's credit growth up 5.1 pct as of June 15 from end-2020 1
- Vietnam sees 5.8% GDP growth in the first six months of 2021 2
- Raw material imports increasingly expensive, stoke inflation fears 3
- Foreign investment to HCMC in five months drops 16.5% 4
- Vietnam reports 5-month FDI inflow at $14 bln, up 0.8% despite pandemic 5
- Vietnam’s 2021 import-export revenue expected to reach $600 bln 6
Ho Chi Minh City, Vietnam's largest city, reported $1.34 billion foreign investment inflow in the first 5 months of 2021, down 16.5% from a year ago, according to the municipal Statistics Office.
Jan.-May disbursed capital of foreign direct investment projectsin Vietnam was estimated at $7.15 billion, up 6.7 percent year-on-year.
Vietnam expects $600 billion in import-export turnover in 2021 since the country posted solid export performance in the first quarter of 2021.
Credit institutions in HCMC recorded a credit growth at 3% in the first 4 months of 2021, exceeding growth rate of deposits of 0.65%, according to State Bank of Vietnam, HCMC Branch.
The State budget revenue was estimated at VND543.4 trillion ($23.7 billion) in the first four months of 2021, up 7.3 percent from a year earlier, said the Ministry of Planning and Investment.
Economic growth of Vietnam in 2021 is forecast to rise by 6.5%, higher than the global average of 6%, before climbing to 7.2% in 2022, according to the International Monetary Fund.
Vietnam’s trade surplus in the first three months of 2021 significantly narrowed to $2.02 billion from $2.8 billion in 1Q 2020, according to data from General Statistics Office.
Credit growth as of March 31 is estimated at 2.93% against the end of 2020, higher than 1.3% growth of the same period of 2020, according to the State Bank of Vietnam.
The consumer price index in February increased by 1.52% against the previous month, the biggest increase recorded over the last eight years, according datda released by the General Statistics Office.
Southeast Asia's growth leader in 2021 may be Vietnam. The nation is reportedly targeting a 6.5 percent growth rate this year, according to Nikkei Asia’s article.
Vietnam received $5.46 billion in foreign direct investment in the first two months of the year, down 15.6 percent from a year ago, according to the Ministry of Planning and Investment.
Vietnam reported a trade surplus of nearly $3 billion by mid-February, according to data from the General Department of Vietnam Customs.