27.8 C
Ho Chi Minh City
Wednesday, July 24, 2024

spot_img

AUTHOR NAME

Thanh Tam

Thanh Tam

1455 POSTS
0 COMMENTS

Growth drivers in Q2

The second quarter of 2024 saw Vietnam attaining higher-than-expected economic growth. What fueled this strong recovery? Q2 growth drivers Having grown by 5.66% in the first quarter, GDP in the second quarter continued to expand by 6.93% year-on-year, bringing the first-half GDP growth to 6.42%. This is slightly below the 6.58% growth in the first half of 2022 during the 2020-2024 period. This is quite an unexpected result given the challenges the Vietnamese economy has been facing. The foreign direct investment (FDI) sector remained a significant driver. While total investments in the economy in the first half rose by 6.8% year-on-year, the FDI sector alone recorded a 10.3% spike in investments, and raised the proportion of its investments in the economy’s total to 17.9%. This is a predictable trend as FDI inflows in the first half of this year amounted to US$10.84 billion, up by 8.2% versus the same period last year, the highest first-half rise since 2020. However, the most surprising driver might be the strong reemergence of the private domestic sector. While Q1 investments of this sector increased by just 4.2% year-on-year, below the 4.9% increase in the public sector, Q2 saw a 7.9% increase, taking the H1 […]
To read more, please click here.

Hot-rolled steel imports from China surge

HCMC – Vietnam has seen a pickup in hot-rolled steel imports from China recently, making up 74% of the country’s total import value of...

Sea sand to be used for Hau Giang-Ca Mau Expressway foundation

HCMC – Sea sand will be used for the roadbed of the Hau Giang-Ca Mau Expressway, stretching 45 kilometers across three Mekong Delta provinces. As...

Auto market awaits registration fee cut

HCMC – Many businesses are hopeful that a 50% reduction in registration fees for home-made cars in the year's second half would boost consumption...

Health Ministry rushes to control diphtheria spread

HCMC – Concerned about the rising spread of diphtheria, the Ministry of Health has told medical facilities to intensify control on the disease, including...

Coca-Cola launches STEAM Summer Experience program

HCMC - Coca-Cola Beverages Vietnam, in collaboration with Linh Trung Ward, Thu Duc City, and the social enterprise Green Connect, has launched the STEAM...

More banks fund social housing projects

HCMC – The Ministry of Construction has announced that two more banks have registered to join the VND120-trillion credit package aimed at funding social...

Banks inject VND480 trillion into economy in June

HCMC – June saw commercial banks injecting VND480 trillion into the economy in the first five months of the year, a significant amount given...

Latest news

spot_img