The government’s decision to slash the registration fee for domestically-produced cars by 50% is set to further boost the sale of domestic cars in the two remaining quarters of this year.
Vietnam's exports slightly declined by 0.9% year-on-year to US$100.21 billion in the January-May period, and imports decreased 4.6% to US$96.67 billion.
The number of newly established enterprises in Vietnam in the first five months of 2020, however, was down 10.5% year-on-year to 48,300.
A positive growth rate of Hanoi’s industrial production in May led to an expansion of 2.6% year-on-year in the January – May period.
The growing trend of FDI to Hanoi showed result of the city authorities’ efforts to reform administrative procedures and ensure a favorable investment environment.
Due to travel restrictions, disbursement of FDI projects in Vietnam totaled US$6.7 billion in the first five months of 2020, down 8.2% year-on-year.