Total export turnover was over US$ 82.13 billion, up 5.7% or nearly US$4.44 billion against the same period last year.

WB: VN mid-term economic prospects positive

The World Bank (WB) forecasted that Gross Domestic Product (GDP) of Viet Nam in 2016 could reach 6%, thanks to the constant increase in domestic demand, personal consumption and investment.

The information was released at a meeting on reviewing Viet Nam’s economic performances held on July 19, in Ha Noi.

To maintain the high economic growth rate, Viet Nam needs to continue restructuring to promote labor productivity, said Achim Fock, the WB’s Acting Country Director for Viet Nam.

European firms deliver positive response to business climate in VN

The European Chamber of Commerce in Viet Nam (EuroCham) on July 21 announced the Business Climate Index (BCI) for the second quarter of 2016 at 77 points, which indicated the positive response from the community of European enterprises to the local business environment.

The survey was conducted among EuroCham’s 883 member businesses ahead of the United Kingdom’s referendum on Brexit (June 23), so its results did not bear any relations to the event.

Specifically, 66.7% of the respondents described the business situation in the April-June period as “excellent” and “good”, while only 12.5% classified it as “not good” and “very poor”. Over 63% of the surveyed enterprises assessed the business outlook as “excellent” and “good” for the next quarter.

Petrol prices slide over 600 VND per litre in 7th cut of the year

The prices of RON 92 petrol and bio-fuel E5 slid 665 VND and 604 VND per litre, respectively, from 3:00 pm on July 20, according to the Ministry of Industry and Trade and the Ministry of Finance. 

The two ministries issued a joint decision on the base fuel prices every 15 days, depending on the fluctuation of world oil and gas prices since the previous announcement. 

They decided to make no change to the prices of diesel 0.05S, mazut and kerosene this time. 

VN’s biggest motor show to be held in October

The biggest ever motor show in Viet Nam is scheduled to take place in Ho Chi Minh City from October 26 – 30 with the presence of 19 renowned car brands. 

Though only the second of its kind, the Viet Nam International Motor Show 2016 (VIMS 2016) of the Viet Nam car importers association VIVA is on a bigger scale than the show sponsored by the Viet Nam Automobile Manufacturers’ Association (VAMA). 

VIMS 2016 will be attended by the official importers of 19 renowned car brands either imported into or assembled inVietNam such as Audi, Bentley, BMW, Jaguar, Porsche and Rolls Royce, compared to only nine importers present at last year’s event. 

Dong Nai’s FDI attraction surpasses 134% of the year’s plan

Dong Nai province attracted US$1.34 billion in new and additional foreign direct investment (FDI) pledges as of July 19, up 20% year-on-year and equivalent to 134% of the year’s plan, according to the provincial Department of Planning and Investment.

Dong Nai licensed 58 new projects worth US$724 million this year, including Thai-owned Amata Vietnam Company Ltd (registered capital of US$309 million) and the Republic of Korea's Dong Won Viet Nam Company (registered capital of US$60 million), Brunei's Promax Textile Viet Nam Co (registered capital of US$55 million), Brunei's Great Kingdom Giang Dien (registered capital of US$50 million.

Fruit and vegetable imports up 40% in first half

Fruit and vegetable imports hit US$351 million during the first half of this year, up 40% over the same period of two years ago, the General Department of Viet Nam Customs reports.

Higher volumes of imported fruit and vegetables came from key markets- Australia (up four times to nearly US$20 million), and New Zealand (double to nearly US$11.3 million).

Other markets like the Republic of Korea, India, South Africa and Brazil also experienced relatively high import growth while imports from China saw a slight increase of 30% to US$80 million.

4G to be licensed in the third quarter of 2016

Minister of Information and Communications Truong Minh Tuan urged enterprises to send recent reports on 4G testing results as the Government had policies to accelerate the licensing for 4G this year.

The Ministry of Information and Communications (MIC) recently held a review meeting for the first half of this year.

Previously, many enterprises and localities have proposed to the ministry to grant 4G license soon as the technology is a foundation for cities and provinces to implement e-Government, Internet of Things (IoT) and modern information systems.

By Thuy Dung

Source: Chinhphu.vn