Economy

Standard Chartered has revised up its forecast for Vietnam’s 2024 GDP growth to 6.8% from the previous 6.0%, reflecting the stronger-than-expected expansion in the third quarter of this year.

Vietnam is becoming a global automotive tyre manufacturing hub, with the export turnover of technical rubber products expected to reach 4 billion USD in 2024.

Trade between Vietnam and the US in the first eight months of this year reached 87.7 billion USD, with significant increases in both exports and imports, according to the Vietnamese Ministry of Industry and Trade (MoIT).

The State Bank of Vietnam (SBV) has launched a programme offering low-interest loans to farmers to serve sustainable rice production in the Mekong Delta.

The Vietnamese sugar industry has led the region in sugar productivity for the first time, according to the Vietnam Sugarcane and Sugar Association (VSSA).

In recent months, the price of fresh cocoa has surged, reaching 12,000 VND per kg (0.48 USD) for fresh pods, three to four times higher than in previous years.

Vietnam’s import-export value is likely to touch the 800 billion USD mark by year-end, far exceeding a record of 732 billion USD seen in 2022, economic expert Dinh Trong Thinh has said.

Vietnam's overseas investment, including new and adjusted capital, amounted to 189.6 million USD, down 54.5% year-on-year, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

Investment of the Republic of Korea in Vietnam has gradually expanded from heavy industries to a wide range of high-tech industries, significantly contributing to the development of the manufacturing industry.

Auto sales by members of the Vietnam Automobile Manufacturers’ Association (VAMA) reached 36,585 units in September, a 45% increase over the previous month.

Provinces, ministries and government agencies had allocated 664.9 trillion VND (26.7 billion USD) for public investment as of the end of September, showed data from the Ministry of Finance (MoF).

Bac Ninh province continued topping the nation for foreign direct investment (FDI) influx with a total of over 4.2 billion USD during January-September.