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Day: January 10, 2024

Vietnam’s Economy, December 2023: Snapshot

the-shiv January 10, 2024

December in Vietnam began with state media announcing the wave of lay-offs that had plagued the manufacturing sector in Ho Chi Minh City was drawing to an end. This conclusion was reached based on just 13,300 people registered to receive unemployment benefits in November, a drop of nearly 25 percent

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Vietnam’s economy likely to see 5.5 percent growth in 2024: World Bank

the-shiv January 10, 2024

The World Bank is estimating Vietnam’s GDP growth will cap-out at 4.7 percent  for 2023, with 5.5 percent growth expected in 2024 next year, according to the World Bank’s Global Economic Prospects–January 2024 report.  This is slightly less than official data provided by Vietnam’s General Office of Statistics which estimated

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Vietnam’s loan-deposit ratio reaches 104 percent

the-shiv January 10, 2024

Deposits at Vietnamese banks hit US$554.53 billion at the end of 2023, VN Express is reporting. Also at the end of 2023, it was announced that credit growth had hit 13.7 percent making total credit to the economy at around US$555.07 billion. This puts Vietnam’s loan-deposit ratio at 104 percent.

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Nestle to double processing capacity at southern Vietnam plant

the-shiv January 10, 2024

Nestle intends to drop an additional US$100 million on its plant in Vietnam’s Tri An province to double its processing capacity, Vietnam News is reporting. The factory currently processes Vietnamese coffee for export to 29 countries. Notably Nestle is the biggest buyer of coffee in Vietnam, buying up around US$700

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