Việt Nam News

It’s time to further promote the role of large corporations in this period when the Vietnamese economy needs added impulse to recover from the COVID-19 pandemic and global economic slowdown, according to the Ministry of Planning and Investment.

While Government expenditure was the main driver for the economy in 2023, local consumption will regain the spotlight in 2024, experts predicted.

The Government has set the GDP growth target at 6-6.5 per cent this year, after 2023 slowed to 5.05 per cent on weak global demand. New drivers from promoting innovation, high technology, green growth and digital transformation will create room for a stronger rebound.

Embarking on the journey into the transformative Year of the Dragon, Việt Nam aims to become a dragon-like force in the global landscape.

In Việt Nam, listed companies must now include ESG information in annual reports or submit sustainability reports.

Global economic uncertainties, challenges in the Australian economy, high inflation and exchange rate fluctuations are contributing factors to the decline.

Two-way trade reached US$79.43 billion last year, with Vietnamese exports shrinking 12.3 per cent year-on-year to $53.49 billion.

Sustainable development poses a big challenge for footwear businesses.

Leaders from foreign-invested companies shared their insights with Việt Nam News reporters, discussing their expectations for Việt Nam's economic growth in 2024 and outlining their key focuses for the year ahead.

Statistics of e-commerce data platform Metric showed that Vietnamese spent VNĐ41.5 billion (US$1.7 million) to buy 245,000 áo dài on four e-commerce platforms including Shopee, Lazada, Tiki and Sendo in December, two months before Tết, a rise of 6 per cent against the same period last year.

Prime Minister Phạm Minh Chính has recently issued a dispatch aimed at enhancing logistics connectivity to drive the consumption and export of agricultural, forestry and aquatic products, considering it one of the key tasks in agriculture and rural development.  

Total export-import value in the first month of the year was estimated at $64.22 billion, a rise of 5.5 per cent month-on-month.

Prodexpo, an annual trade fair for the food industry held every February, saw the participation of more than 2,100 companies from 40 countries and territories.

The VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 1.13 per cent to end at 1,212.70 points.

On HoSE, foreign investors net bought a value of VNĐ186 billion in January 2024, equivalent to 64.7 million shares.

Under the new Land Law 2024, the land price list will be published on an annual basis with the first list applied from January 2026.

The Government has issued a decree which provides special policy mechanisms for corporate and personal income tax exemption in HCM City.

Manufacturers are engaging in price competition, and dealers are proactively reducing prices on various motorcycle models, ranging from a few million to tens of millions of Vietnamese đồng, depending on the model.