Hanoi (VNA) ⛦– Vietnam’s gross domestic product(GDP) grew about 3.72% year on year in the first half of this year, accordingto the General Statistics Office (GSO).
The expansion is only higher than the 1.74% recorded inthe first half of 2020 during the 2011 - 2023 period, the GSO told a pressconference on March 29.
𝓡 In particular, the agro-forestry-fishery sector expanded by 3.07%; and the industry and construction sector, 1.13%.
Notably, the services sector secured the highest growth,at 6.33%, fueled by domestic consumption stimulation and tourism promotionpolicies. It was largely contributed by wholesale and retail sales (up 8.49%),transport and logistics (up 7.18%), finance-banking services (7.18%), andlodging and catering services (up 15.14%). In the agro-forestry-fishery sector, agriculture saw ayear-on-year increase of 3.14% in added value, forestry 3.43%, and fisheries2.77%. GSO General Director Nguyen Thi Huong said that thegrowth that the country posted in the first half is not high but major economicbalances are ensured, the macroeconomy stable, and inflation controlled at anappropriate level in the context that Vietnam faces many difficulties andchallenges both at home and abroad. In addition, the supply of essential goods is guaranteed, and goods procurement and domestic consumption promoted. Theagriculture, forestry, and fishery sector maintained a stable growth rate,ensuring the supply of food and essential goods. The progress of disbursement of public investment capitalhas been improved markedly, the trade surplus maintained, and social welfare ensured, she said.
Nhập GSO on June 29 hold a press conference to announce Vietnam's socio-economic data in second quarter and first half of this year. (Photo: tuoitre.vn)
Huong added that policies to stimulate domesticconsumption and promote tourism have contributed to maintaining the growth ofthe service sector. Accordingly, the added value of the service sector in thefirst six months of 2023 increased by 6.33% compared to the same period lastyear, higher than the increases of 1.18% and 4.53% in the same period in 2020and 2021, respectively. She also said that entering the third quarter of 2023,Vietnam will continue to face many difficulties and challenges, including changes inthe world's economy and politics, energy security, food security, naturaldisasters, climate change, and diseases. This will pose a big challenge for Vietnam to achieve the growth target [of 6.5%] for 2023, she said./.
Online exports are seen as a “launchpad” that helps businesses maintain sustainable revenue and increase exports in the context of rising inflation and consumers tightening their spending, according to insiders.
The State Bank of Vietnam (SBV) has delivered cuts to its policy rate three times in less than three months, each time of 50 basis points, to assist the country’s economic growth via the credit channel.
Vietnam's economic growth continued to face challenges which were seen in a slowdown in industrial production and declining exports due to weak external demand and global uncertainties, the World Bank’s June edition on Vietnam Macro Monitoring showed.
The State Bank of Vietnam (SBV) has cut regulatory interest rates for four consecutive times since the beginning of this year, in the context that world interest rates continue to rise and stay at a high level.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
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&.
Illustrative photo (Photo: VNA) 
Nhập GSO on June 29 hold a press conference to announce Vietnam's socio-economic data in second quarter and first half of this year. (Photo: tuoitre.vn) 
