The State Bank of Vietnam last week cut its policy rates for the third time this year to prop up economic growth.

Vietnam is witnessing a slowdown in trade as the global economy is edging closer to a recession.

Vietnamese enterprises are facing extreme hardships, according to a report sent to the prime minister by the National Private Economic Development Research Board.

Local enterprises were going through a particularly difficult situation, a survey conducted by the National Private Economic Development Research Board under the Government’s Advisory Council for Administrative Procedure Reform has revealed.

Vietnam jumped 12 places in the Economist Intelligence Unit (EIU)’s latest business environment rankings which measure the attractiveness of doing business in 82 countries with 91 crucial indicators.

At important events, Minister of Planning and Investment Nguyen Chi Dung always stresses that new policies and regulations that require people and businesses to spend more, create new procedures, and require more time must not be issued.

In late 2022 and early 2023, enterprises complained they found it difficult to access bank loans. But this is different now: it is not difficult to borrow money, but businesses are not sure how to use the borrowed capital.

Any hope for improving business conditions by midyear has faded due to dismal demand in main markets and macroeconomic instability.

Most enterprises have reported their profits for the first quarter of 2023. Besides those suffering a sharp decline as predicted, there are still businesses with unexpectedly strong growth, making their valuations attractive.

Thousands of business conditions and administrative procedures have been abolished or simplified, greatly facilitating businesses.

The colossal socioeconomic recovery and development initiative continues to suffer from numerous hurdles in implementation, irking the government which has ordered quicker deployment to achieve the desired economic growth.

Vietnam is transforming into a manufacturing-oriented economy via its increasing participation in the global value chain, especially in manufacturing.

Vietnam’s population has reached the 100-million mark, making the nation one of the 15 most populous societies in the world.

Despite impacts caused by the COVID-19 pandemic, foreign direct investment (FDI) is still being poured into Vietnam, contributing importantly to turning the country into a new production hub of the world.

By the end of this April, Vietnam’s population has reached 100 million, according to the United Nations Population Fund (UNFPA). What are advantages and challenges?

TMX Global has reported that recent challenges in the supply chain sector have set the national economy back by a staggering $1.9 billion annually.

Despite a state budget surplus in the first four months of this year, economic difficulties have put a dent in government revenues, with income falling across all sectors.

In its latest macro-economic update on Vietnam, Standard Chartered Bank lowered the country’s 2023 GDP growth forecast to 6.5 per cent from the previous 7.2 per cent and became more cautious on the external front.

The NA's Economics Committee has asked the government to specify the major reasons behind the VND26.2 trillion loss incurred by Electricity of Vietnam (EVN) in 2022 and draw up solutions to fix the problems in the electricity pricing scheme.

In the current challenging situation, Vietnamese enterprises are optimistic about economic performance in 2023, projecting revenue of trillions of VND.