Vietnam’s gross domestic product (GDP) in the first nine months of this year rose by 4.24% from the same period last year, the General Statistics Office (GSO) announced on September 29.
Vietnam’s GDP in the first nine months of this year rises by 4.24% year-on-year. (Photo: VNA)
Hanoi (VNA) – Vietnam’s gross domestic product (GDP) in the firstnine months of this year rose by 4.24% from the same period lastyear, the General Statistics Office (GSO) announced on September 29.
In the third quarter, the country's economic growth rate was estimatedat 5.33% compared to the same quarter of 2022.
The GSO assessed that although the nine-month growth rate is onlyhigher than those in the same period of 2020 and 2021 in the past 12 years, it showed a positive trend of increasing gradually over the quarters: 3.28% in thefirst quarter, 4.05% in the second quarter and 5.33% in the third quarter.
In the January-September period, the agro-forestry-fisherysector expanded by 3.72%, contributing 8.03% to the total added value of theentire economy. The growth rates of the industrial and construction sector and the service industry were 5.19% and 6.24% with contribution proportions of 38.63% and 53.34%, respectively.
Illustrative image (Photo: VNA)
Amidst common difficulties and challenges of the worldeconomy, most international organisations have revised down their forecasts ofVietnam’s growth rate for 2023 based on results and forecastsof domestic production and business activities and the impact of the worldeconomy.
The Vietnamese Government and Prime Minister Pham Minh Chinhhave directed ministries, sectors and localities to implement drastic measuresto solve difficulties, promote growth, and maintain macro-economic stabilityand major balances of the economy./.
Vietnam’s digital economy has played an important role in the country’s socio-economic development in recent times, and accounted for nearly 15% of GDP in the first half of this year, according to the Ministry of Information and Communications.
Exports and investments will continue driving Vietnam's economic growth in the remainder of this year, helping the nation realise the growth target of 6-6.5%, according to insiders.
Deputy Minister of Planning and Investment Tran Quoc Phuong on September 9 pointed out measures to boost the Gross Domestic Product (GDP) growth and the disbursement of public investment capital.
The total consolidated revenue of 19 State-owned economic groups and corporations hit 1.871 quadrillion VND (77.9 billion USD) last year, or 20% of the country’s gross domestic product (GDP), up 0.6% from 2018, heard a workshop in Hanoi on September 26.
The Vietnamese booth featured fresh durian, durian ice cream, durian cakes, and other fruits such as dragon fruit and passion fruit, attracting strong interest from Beijing residents and ASEAN diplomats.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
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.
Vietnam’s GDP in the first nine months of this year rises by 4.24% year-on-year. (Photo: VNA) 
Illustrative image (Photo: VNA) 
