EXPORT - IMPORT
- Export turnover in February was estimated at US$10.3 billion, representing a month-on-month decline of 22.9% but year-on-year surge of 8.4%. In the January-February period, export turnover valued at US$23.7 billion, representing a year-on-year surge of 2.9%, of which the domestic sector contributed US$7.1 billion (up 4.2%) and the FDI sector (including crude oil) earned US$16.6 billion (up 2.3%). (chinhphu.vn, Mar 1, 2016)
FOREIGN DIRECT INVESTMENT (FDI)
- As of February 20, 291 projects worth over US$1.9 billion landed Viet Nam, up 96.6% in number and 167.5% in value against the same period last year. The capital city of Ha Noi attracted the largest amount of FDI with US$242.4 million (12.7% of total); followed by Bac Giang with US$206.1 million (10.8%);
Bac Ninh with US$200.6 million (10.5%). (chinhphu.vn, Feb 29, 2016)
- The northern province of Vinh Phuc granted investment licences to five new FDI projects in the first two months of 2016. The province also allowed other two operational projects to add capital, bringing its total FDI registered capital over the last two months to 60 million USD. (www.mpi.gov.vn, Feb 29, 2016)
OFFICIAL DEVELOPMENT ASSISTANCE (ODA)
- The Republic of Korea’s Government announced that from now to 2020, the nation will provide US$500 million in Official Development Assistance (ODA) for developing nations, including Viet Nam. Viet Nam will benefit from the US$200 million sum which will be used for large projects to develop scientific skills.
Other beneficiaries include Uzbekistan, Nepal, Ethiopia, Columbia, and Peru.
(chinhphu.vn, Mar 1, 2016)
February 24 – March 2, 2016
- - The Japan External Trade Organization (JETRO) - yesterday published a report on business performance
- of Japanese enterprises in Viet Nam. As much as 557 Japanese enterprises were involved in the survey. Under the survey, nearly 60% of respondents reported profits in Viet Nam, thus, 63.9% tends to expand operation in Viet Nam. (www.mpi.gov.vn, Feb 26, 2016)
- After witnessing a sharp decrease in January, the VN Index recovered in February and ranked 10th among the best performing markets in the world.
The VN Index rose 2.59% in February, standing at 559.37 points.
(chinhphu.vn, Mar 2, 2016)
- Some commercial banks have continuously increased interest rates to attract depositors, setting a record two
-year high of 8% per year. Under the current regulation, the central bank sets the cap of 5.5% per year only for short-term deposits of under six months. The rates for medium- and long-term deposits are floated. (chinhphu.vn, Mar 2, 2016)
- More than one million tons of rice were exported in January and February at 445 million USD, doubling
that of 2015 in terms of volume and value. The volume of rice exported in February is estimated at 523,000 tons for 228 million USD. The surge in rice exports is largely due to the Philippines and Indonesia strengthening rice imports and price increases of about 40 percent. (www.mpi.gov.vn, Mar 1, 2016)
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