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Vietnam’s Economy in 2024: A Brief Recap
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Day: December 12, 2024
Vietnam sees strong growth in accommodation and food services FDI in November
Year-to-date (YTD), the sector has attracted a total of 36 new projects with US$101 million in newly registered capital, reflecting strong growth in this area.
European tourist arrivals in Vietnam grow by 27.49 percent in November
Year-to-date, European arrivals totalled 1,782,578, representing a 23.6 percent growth compared to the same period last year. Among key contributors, France led with 33,027 visitors in November, a 44.16 percent increase from October.
Vietnam bond market continues upward momentum in November
Year-to-date, 362 private placements have been made, raising VND 342,716 billion (or US$13.71 billion), alongside 21 public offerings worth VND 32,114 billion (or US$1.28 billion)…
Vietnam’s food processing, manufacturing production jumps in November
Year-on-year, the sector achieved notable growth of 10.91 percent in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, the IPI for food processing and manufacturing rose by 7.65 percent compared to the same period last year, underscoring its significant contribution to Vietnam’s industrial output.
Vietnam’s vape ban hits a nerve with pro-vaping group
Of note, Vaping360 a vaping retailer and pro-vape website has covered this issue in a somewhat aggressive op-ed. But whereas the tone and wording might be a smidge hyperbolic it does raise a good point in that Vietnam has one of highest smoking rates in the world and therefore banning a less-harmful alternative does seem counterproductive.
NVIDIA announces intentions to buy Vietnam’s VinBrain
Whereas this has been heralded as a coup for Vietnam’s tech sector–VietnamBiz has gone so far as to suggest this supports the thesis that Vietnam is is becoming a ‘promised land’ for global tech firms– it’s difficult to know exactly what this might mean on a practical level at this point in time.
Vietnam’s household equipment and appliance prices record November increase
Throughout 2024, the sector has experienced stable, gradual growth. September’s CPI stood at 1.17 percent, while mid-year figures remained consistent, with 1.14 percent in August and 1.15 percent in July…
Vietnam sees significant drop in transport and warehouse FDI in November
Year-to-date (YTD), the sector has attracted a total of 102 new projects with US$462 million in newly registered capital, showing that the sector’s performance has fluctuated over the course of the year.
Vietnam trade records slight fall in November but strong year-on-year gains
Exports in November totalled US$33.73 billion, down 5.3 percent from October. Imports for the same period reached US$32.67 billion, representing a 2.8 percent decline. This brought Vietnam’s trade balance for the month to a surplus of US$1.07 billion, reflecting a sustained positive trend despite the slowdown.
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