Hanoi posted an increase of 3.27 percent in Gross Regional Domestic Product (GRDP) in the first quarter of 2020 – the lowest in recent years, according to the municipal Statistics Office.
Hanoi (VNA) – Hanoi postedan increase of 3.27 percent in GrossRegional Domestic Product (GRDP) in thefirst quarter of 2020 – the lowest in recentyears,according to the municipal Statistics Office.
This was attributed to impact of the ravaging COVID-19 pandemic.
The agro-forestry-aquaculture sector saw a decrease of 1.17 percent,while the industry-construction and service fields respectively rose by 5.46percent and 3.2 percent, the office said.
In the reviewed period, retail and service revenuein the capital city totaled 135.7 trillion VND (over 5.7 billion USD), up 2.3percent year-on-year. Meanwhile, its export turnover reached 2.74 trillionUSD, 18.1 percent lower than the figure posted in the same period last year.
Tourism, transportation, accommodation andcatering services; processing and manufacturing industries; import and exportsand a number of other service sectors recorded sharp declines.
As much as 63 trillion VND of development investment was disbursed in the period, representing ayearly increase of 5.2 percent.
The capital city attracted 646.4 million USD in foreign direct investment (FDI),including 389 million USD from 170 new projects and 36 with added capital, and257.4 million USD in capitalcontribution to buy shares.
Hanoi is now home to 6,102FDI projects with a total registered capital of 42.75 billion USD,of which 26.5 billion USD has been disbursed./.
Hanoi has maintained a high growth rate so far this year, with the GRDP expanding 7.35 percent in the first nine months of this year, it was reported at the 10th session of the city’s People’s Council on October 25.
Hanoi is seeking to fulfill socio-economic targets in 2020 amid the complicated and unpredictable developments of the acute respiratory disease caused by SARS-CoV-2 (COVID-19).
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Illustrative image (Photo: internet) 
