Hanoi ranks third nationwide in FDI attraction with US$3.13 billion
The city attracted 438 new foreign-invested projects during the January – October period.
The city attracted 438 new foreign-invested projects during the January – October period.
Assuming there is no further massive outbreak domestically, it is expected the recovery to extend further in the fourth quarter.
The services sector faced the most severe impacts with 68.9% of its workforce directly affected, followed by the industry and construction sector and agro-forestry and fishery.
The Vietnamese manufacturing sector returned to growth in September as concerns around the outbreak of the Covid-19 pandemic in the country eased.
Businesses – the backbone of each country’s economy – have been advised to find proper ways to survive and thrive in the global health crisis.
Although the country’s GDP growth in the third quarter is estimated at a decade-low of 2.62%, this is an improvement from the 0.36% growth in the second quarter.
Samsung plays a significant role in promoting the Vietnam – South Korea relations and the development of Vietnam’s manufacturing sector, stated Deputy Prime Minister Trinh Dinh Dung.
Despite a drop in output in July, firms remained confident in the 12-month outlook for production.
FDI commitments in the January – July period totaled US$18.82 billion, down 6.9% year-on-year.
Vietnam’s central bank is expected to pursue a stronger dong, especially as this might weigh on the recovery of the country’s export-oriented manufacturing sector over the coming months.