Weekly News Bulletin - No. 01, August 2022
As Vietnam’s recovery was set to gather momentum in 2022, several industries have been reported with robust results. According to the Ministry of Planning and Investment, in the first seven months of this year, Vietnam’s total investment abroad neared 358.76 million USD, or about 63 percent against the figure in the same period of 2021.
Vietnam also enjoyed a trade surplus of £3.9 billion (over US$4.7 billion) in the four quarters to the end of March 2022, up nearly 22 percent over the same period to 2021, reported the UK’s Department for International Trade.
Meanwhile, that seven maritime economic clusters will be formed was included in a decision recently signed by Deputy Prime Minister Le Van Thanh, approving a project on the development of marine economic clusters associated with building strong sea-based economic centres by 2030. The clusters will not only attract large-scale enterprises and high-tech projects to contribute to green growth but also protect the marine ecological environment as well as the marine economy.
Last week highlight
The Vietnamese economy is likely to grow 10% year on year in the third quarter of this year, driven by strong domestic consumption, reported by VinaCapital’s chief economist.
Let’s look at some other key financial and business headlines during the past week
1. Vietnam’s overseas investment nears 358.76 million USD in first 7 months
In the first seven months of this year, Vietnam’s total investment abroad neared 358.76 million USD, or about 63 percent against the figure in the same period of 2021.
2. Vietnam records $4.7 billion trade surplus with UK over 12 months
Việt Nam enjoyed a trade surplus of £3.9 billion (over US$4.7 billion) in the four quarters to the end of March 2022, up nearly 22 per cent over the same period to 2021.
3. Property market enjoys lively M&As in first 7 months
Vietnam’s property market, including the industrial, residential and office segments, saw vibrant merger and acquisition activities in the first seven months as companies pour big bucks into potential projects.
4. Enterprises, workers in non-State sector and FDI rise rapidly
The number of enterprises and employees working in the non-State sector and FDI increased rapidly, whereas that of State sector fell markedly.
5. Seminar seeks ways to optimize EU-Vietnam FTA
The socio-economic impacts of the two-year-old EU-Vietnam Free Trade Agreement (EVFTA) along with issues that the deal poses for Vietnam were under focus at a scientific seminar held in Hanoi on August 4.
6. Vietnam to form seven marine economic clusters by 2030
Seven maritime economic clusters will be formed by 2030, serving to turn Vietnam into a strong marine country.
7. July’s retail sales of goods, services surge
Việt Nam’s retail sales of goods and services in July are estimated at VNĐ486 trillion (US$20.8 billion), up 2.4 per cent month-on-month, and 42.6 per cent year-on-year, according to the General Statistics Office.
8. Vietnam a market with highest potential: Apple CEO
Apple CEO Tim Cook said Vietnam is one of four emerging markets for the tech giant that have contributed to the company's success in the second quarter of 2022.
9. Countries share experience in developing blockchain technology
Representatives from some foreign embassies in Hanoi shared their respective countries’ experience in developing blockchain technology at a workshop held in Hanoi on August 5.
10. Tourism recovery dogged by lack of staff, main market tourists
The number of new hospitality businesses is rising, but a shortage of staff and tourists from pre-Covid major markets are hampering the tourism industry’s revival.
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