Foreign businesses injected nearly US$15.19 billion worth of foreign direct investment (FDI) into the Vietnamese economy in the first six months of 2024, representing a year-on-year rise of 13.1%, according to the General Statistics Office.

Vietnamese payment platform Payoo has revealed statistics indicating that foreign tourists typically spend 40% of their budget on food and drink when visiting the nation.

The GDP for the first six months of 2024 increased by 6.42%, slightly lower than the growth rate of 6.58% in the first six months of 2022. Notably, GDP in the second quarter continued its recovery trajectory.

Despite being a major rice-exporting country, Vietnam spent nearly 700 million USD on rice imports in the first six months of this year to meet domestic production and consumption needs.

Overseas investment activities of Vietnamese enterprises show promising growth but also come with significant potential risks. To avoid major setbacks, it is crucial to plan for contingencies right from the start.

Amid increasingly fierce competition in the digital payments sector, e-wallets are facing significant challenges to maintain their long-term viability.

The MPI has reported back to the Prime Minister on the project ’Developing human resources in the semiconductor industry to 2030, with a vision to 2050’.

The reduction of the rice import tax by the Philippines will create more advantages and increase opportunities for Vietnamese rice to enter the market later this year, insiders said.

The Vietnam Stock Exchange (VNX) reported a decrease of 11% year-on-year in net revenue to more than 3 trillion VND, according to the audited consolidated financial statements for 2023.

The recovery in tourist arrivals is expected to continue, adding more than 1 percentage point to Vietnam’s GDP growth this year, Michael Kokalari, a chartered financial analyst and chief economist at VinaCapital, has said.

Foreign customers, who do not have chip-based ID cards, can visit bank branches and bank staff will guide them to register biometric information directly at the counter.

The volume of Vietnamese products exported and sold on Amazon e-commerce platform of the United States has increased by 300% over the past five years, heard a forum held in Hanoi on June 27.

The USD price in the free market has surged past 26,000 VND/USD (selling), marking its highest level ever. This new peak sees the free USD price nearly 700 VND higher in the buying price compared to bank rates.

Banks will need to issue new Tier-2 capital bonds to replace maturing bonds and bolster their capital adequacy ratios, said experts.

A recent survey conducted by NIQ, a leading authority in consumer and shopper insights, has uncovered notable changes in shopping behaviour among Vietnamese consumers in 2024.

The Vietnamese economy is likely to expand by close to 6% in 2024, driven by a recovering export sector, robust foreign direct investment, and policy support, the International Monetary Fund (IMF) said on June 26.

Vietnam’s export turnover in the first half of this year expanded by 13.8% year-on-year to an estimated 188.97 billion USD, the Ministry of Industry and Trade (MoIT)’s Planning and Finance Department has reported.

The UK’s participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is expected to provide more opportunities for Vietnamese firms to expand export markets and create momentum for economic development.

The news that the government may approve a 50 percent vehicle registration tax cut applied to brand new domestically-assembled cars has caused people to postpone their purchases until the cut goes into effect.

The two largest resettlement quarters in HCM City remain deserted. People who had to give back land to the state to make room for public projects do not want to resettle there as planned.