Retail nbfcs may see revival in second half

People shop at a supermarket in An Phú, Thủ Đức Municipal City. VNA/VNS Photo HÀ NỘI — Supply of goods and services for the domestic market during the first half of the year has been ample with a slight uptick observed for a number of commodities, said the Ministry of Industry and Trade (MoIT) during a conference in Hà Nội yesterday. Disruptions caused by the pandemic have been mostly resolved, especially in regard to essential goods including foodstuff, livestock feed and fertiliser even during high-demand seasons. Demand for goods and services has been steadily on the rise, particularly in the travel and hospitality market. Meanwhile, fuel prices have seen sharp spikes due to geopolitical events around the world and will likely stay volatile for the foreseeable future. Domestic retail of goods and services in June reached VNĐ472 trillion (US$20.3 billion), a 1.4 per cent increase month-on-month, bringing the total figure for the first six months of the year to VNĐ2.717 … [Read more...] about Supply stays ample, fuel prices likely rise in 2nd half of 2022

A shopper buys goods at a supermarket in HCM City. (Photo: VNA) HCM City (VNA) – Ho Chi Minh City’s economy has seen a steady revival and is on course to return to pre-COVID levels, Chairman of the municipal People’s Committee Phan Van Mai said on June 29. Speaking at a meeting on the city’s socio-economic situation in the first half of the year, he said the administration had made great efforts to help businesses access funds for their recovery and provided significant policy support to ensure socio-economic activities proceeded smoothly. Administrative procedures remain the biggest obstacle to capital disbursement, hindering capital flow s into production and trade activities and the creation of new jobs, he said. Mai called on authorities in Thu Duc city and the city’s districts and government agencies to focus on smoothing administrative procedures to speed up economic recovery and growth. Director of the Department of Planning and Investment Le Thi Huynh Mai … [Read more...] about HCM City’s economy continues strong recovery momentum

People buy goods at a supermarket in HCM City. VNS Photo Thu Hằng HCM CITY — HCM City’s economy has seen a steady revival and is on course to return to pre-COVID levels, chairman of its People’s Committee, Phan Văn Mãi, has said. Speaking at a meeting yesterday on the city’s socio-economic situation in the first half of the year, he said the administration had made great efforts to help businesses access funds for their recovery and provided significant policy support to ensure socio-economic activities proceeded smoothly. “Administrative procedures remain the biggest obstacle to capital disbursement, hindering capital flows into production and trade activities and the creation of new jobs.” He called on authorities in Thủ Đức City and the city’s districts and government agencies to focus on smoothing administrative procedures to speed up economic recovery and growth. Lê Thị Huỳnh Mai, director of the Department of Planning and Investment, said the Government’s policies to … [Read more...] about HCM City economy recovers, back almost to pre-COVID level

The positive economic performance in the second quarter helped Vietnam’s GDP growth reach 6.4% year-on-year in the six months. Vietnam’s GDP growth in the second quarter of 2022 is estimated at 7.72% year-on-year, the highest since 2011, according to the General Statistics Office. Production of aircraft components at MHI Aerospace Vietnam at Thang Long Industrial Park. Photo: Pham Hung Such a rate put the country’s economic growth at over 6.4% in the first half of 2022, higher than the 2.04% rate in the same period of 2020 and 5.74% in the first six months of last year. During the period, the majority of economic sectors have shown signs of recovery, in which the agro-forestry-fishery expanded by 2.78%; the industrial and construction sectors grew by 7.7%, and services by 6.6%. Manufacturing and processing remained a growth-driving engine for the economy with an expansion rate of 9.7% year on year. The high economic growth was also reflected in the … [Read more...] about Vietnam’s GDP in 2Q hits decade-high

Foreign investors poured funds into 18 industries out of a total of 21 national economic sectors. Of which, the processing and manufacturing industry continued to lead with a total investment of nearly 8.84 billion USD. The real estate sector ranked second with total investment capital of 3.15 billion USD. Regarding investment partners, 84 countries and territories invested in Vietnam, among which, Singapore led with a total investment capital of more than 4.1 billion USD. The Republic of Korea ranked second with over 2.66 billion USD. By investment location, Binh Duong led the way with a total registered investment capital of more than 2.53 billion USD, up over 98 percent over the same period in 2021. According to the Foreign Investment Agency at the ministry, realized investment capital of FDI projects in the first six months increased by 8.9% compared to the same period in 2021. That shows that enterprises are constantly recovering, maintaining and expanding production and … [Read more...] about Vietnam attracts more than 14 billion USD of FDI in H1