Capital invested by the state was estimated at 153 trillion VND, up 11.5% and accounting for 26.2% of the total figure, while private investment rose 1.8% to 328.6 trillion VND, accounting for 56.4%.

A section of Ho Chi Minh City's Ben Thanh-Suoi Tien metro line.

Investment from the foreign sector fell 1.1% to 101.5 trillion VND, equivalent to 17.4% of the total capital.

According to the GSO, the 3.7% growth rate reflected a slowdown in business activity due to various adverse impacts, including global inflation and monetary tightening in many countries.

However, the 11.5% increase in public investment demonstrated the efforts of the government, ministries, and localities in boosting economic growth with public funding.

In the January-March period, foreign direct investment pledges to Vietnam plunged 38.8% year on year to 5.45 billion USD, while Vietnam’s overseas investment fell 43.5% to 119.5 million USD.

Total budget revenue in the first quarter was estimated at 491.5 trillion (20.9 billion USD), up 1.3% and equivalent to 30.3% of the full-year target.

Spending during the period rose 7.2% to 363.4 trillion VND (15.47 billion USD).

US businesses exploring investment, business opportunities in Vietnam

Representatives of more than 50 US companies will visit Vietnam from March 21-22 to discuss investment and business opportunities under an annual programme hosted by the US-ASEAN Business Council.

PM chairs meeting on investment plans for expressways

Prime Minister Pham Minh Chinh on March 12 chaired a meeting with ministries, sectors and localities, discussing plans to invest in an expressway connecting the northern provinces of Ninh Binh, Nam Dinh and Thai Binh, and another linking Gia Nghia city in the Central Highlands province of Dak Nong and Chon Thanh township in southern Binh Phuoc province.

China’s Sunny Optical Technology Group plans 2.5B investment in Vietnam

China’s Sunny Optical Technology Group is planning to invest up to US$2.5 billion to build an optical production complex in northern Thai Nguyen Province.

Vietnam among top five property investment destinations for wealthy Singaporeans

Vietnam is the fifth most popular destination for property investment for wealthy Singaporeans after Australia, India, Hong Kong, and mainland China, according to a new report.

PM calls for focus on economic diplomacy to attract foreign investment

Vietnam needs to strengthen its economic diplomacy to attract investments from multinational companies and achieve green transformation and sustainable development, PM Pham Minh Chinh has said.

Source: NDO