Condominium market prices in both Hanoi and Ho Chi Minh City maintain an upward trend this year, according to CBRE Vietnam.

Many international financial institutions have expressed their optimism about Vietnam’s GDP growth, and shared the view that it would reach at least 6% this year.

With a lower-than-expected export windfall in 2023, Vietnam’s export landscape for 2024 is expected to face plenty of challenges caused by global demand.

An increase in international air routes is expected to serve as a fulcrum for the industry in 2024, helping domestic airlines end a painful period of losses in Vietnam.

Vietnam’s per capita GDP in 2023 reached US$4,284, US$174 higher than in 2022 but still well below the 2025 target range of US$4,700-5,000, according to the Ministry of Planning and Investment.

Vietnam’s trade sector harvested inspiring achievements in 2023, being listed in the top 20 nations in trade scale.

Members of the Vietnam Automobile Manufacturers’ Association (VAMA) saw their sales drop by 25 per cent on-year in 2023.

Vietnam’s economy is on a firm recovery track, likely returning to its trend growth of 6 percent in 2024, noted HSBC in its recent report Viet Nam at a glance.

Vietnam put its 2023 foreign trade at over US$681 billion, 6.9% lower than in the previous year, according to the General Statistics Office.

It is anticipated that there will be significant changes in the scale of the banking sector’s charter capital this year.

Based on the GDP growth rate in 2024, the Ministry of Industry and Trade has set this year’s export turnover target of increasing by roughly 6%, equivalent to US$377 billion, with trade balance maintaining a surplus of about US$15 billion.

This plan is a key priority for MXV during the 2023-2028 period, with the aim of developing the Vietnamese commodity trading market in accordance with international standards.

The agriculture sector emerged as a firm pillar of the economy last year, setting a series of new records despite global market downturn.

Purchasing power for the traditional Lunar New Year (Tet holiday) will increase 10% from the same time last year, according to the Ministry of Industry and Trade.

The State Bank of Vietnam's (SBV) competent authorities can conduct unscheduled inspections of credit institutions to ensure their compliance with monetary and banking legal regulations from next month, according to a newly issued circular.

A process has begun to allow the Vietnam Shipbuilding Industry Corporation (SBIC) to declare bankruptcy, according to Deputy Minister of Transport Nguyen Xuan Sang.

The Republic of Korea’s KP Aero Industries will start building a 20,000sq.m factory with an investment of $20 million at the central city’s Da Nang Hi-Tech Park, to produce and supply various parts for the aircraft industry.

The Ministry of Finance in Vietnam has proposed a 5% value-added tax (VAT) for fertilizers, a departure from the current tax-exempt status outlined in the Value-Added Tax Law.

Vietnam needs to pool all resources and bring into full play growth drivers in 2024 to meet the Government set target of achieving a GDP growth rate of 6-6.5%, said experts.

Lots of hotels in the central province of Quang Nam’s Hoi An City have been offered for sale amid on-going business difficulties.