In January 2.2 times as many Vietnamese businesses resumed operation as in December, FDI attraction reached 2.36 billion USD, and 1.5 million tourists visited Vietnam.
Notable signs
Vietnam's macroeconomy continued to be stable, inflation was controlled, and major balances were maintained. The Consumer Price Index increased just 0.31% in January.
As the lunar new year draws near, commercial and service activities are seeing growing consumer demand. Total retail sales and service revenue in January exceeded 22 billion USD, up 8.1% from the same period last year.
Made-in-Vietnam products are becoming more popular with Vietnamese people, and Vietnam has become a destination for many foreign investors. As of January 20, total foreign investment capital exceeded 2.36 billion USD, up 40% from the same period last year. Newly registered investment capital increased sharply. Hanoi led the advance with more than 867 million USD, 40 times higher than the same period last year.
The production index of most key industries grew in January. Wood furniture production increased 66.7%, followed by the textile industry, which surged 46.2%.
Disbursement of public investment capital in January grew 2.58%. Deputy Minister of Planning and Investment Do Thanh Trung said: "We adopted measures at the beginning of the term and implemented breakthrough solutions to remove obstacles. Procedures for many public investment projects with regional linkages have already been completed, which promises to raise this year’s disbursement rate of public investment."
Vietnam’s tourism is booming this year, already receiving more than 1.5 million foreign visitors, the most in one month since the COVID-19 pandemic.
Nguyen Trung Khanh, Chairman of the Vietnam National Authority of Tourism, said: "We will accelerate tourism recovery and growth this year, aiming to earn 36 billion USD."
International organizations give optimistic forecasts of Vietnam’s growth
According to the Purchasing Managers' Index Report of S&P Global, Vietnam's January PMI index rose to 50.3 points, compared to 48.9 points in December.
Recent reports from the World Bank and the Asian Development Bank suggest that Vietnam should continue its policies for economic recovery, consumer stimulus, and investment promotion. Standard Chartered Bank said it believes Vietnam's economy is promising in the medium term and predicts the country’s GDP growth of 6.7% this year.