Investments

According to S&P Global, Vietnam's manufacturing sector maintained its solid growth trajectory in July, following an impressive performance in June. The surge in new orders prompted producers to ramp up their production levels, with the rate of expansion accelerating to near-record highs. Meanwhile, input costs and output charges continued to rise significantly, although inflation eased slightly compared to the previous month.

On Monday, July 31st, at the Government Headquarters, Deputy Prime Minister Tran Hong Ha received Mr. Yamada Takio, Advisor to the Ministry of Foreign Affairs and Ambassador in charge of the Asia Zero Emissions Community Initiative (AZEC) of the Government of Japan.

According to the Ho Chi Minh City Statistics Office, the construction of the Metro Line No. 1 has surpassed 98% completion and is on track to commence operations this year.

The People's Committee of Bac Ninh province has instructed its departments and sectors to strictly adhere to the conclusions outlined in the Official Dispatch No. 121, dated October 31, 2023, regarding addressing challenges and obstacles faced by Build-Transfer (BT) projects and corresponding investment ventures. The committee has also urged investors to conduct a comprehensive review and provide detailed reports on any difficulties or impediments they encounter. These reports will be used by the provincial authorities to assign specialized agencies to resolve these issues and ensure the timely progress of the projects.

The National Assembly's Standing Committee, through Resolution No. 1104/NQ-UBTVQH15, has approved the reorganization of administrative units at the district and communal levels in Nam Dinh province for the 2023-2025 period. This involves the restructuring of 2 district-level units and 79 commune-level units in Nam Dinh, aiming to streamline and enhance the efficiency of local governance.

In July, Vietnam welcomed 1.15 million international arrivals, a significant boost to the country's tourism industry. This brings the total count of international visitors for the first seven months of the year to an impressive 10 million.

As of July 1, 2024, the Ministry of Labour, Invalids and Social Affairs (MOLISA) has received feedback from businesses regarding challenges in implementing the new regional minimum wage increase.

With an impressive FDI equity of nearly 6.52 billion USD, this country has taken the lead among 91 countries and territories investing in Vietnam in the first seven months of 2024.

On August 2nd, Nguyen Ho Hai, the Permanent Deputy Secretary of the Ho Chi Minh City Party Committee, had a courtesy meeting with the Chief Executive of the Hong Kong Special Administrative Region (SAR) of China, John Lee Ka-chiu.

The Ministry of Home Affairs has received a proposal from Cao Bang Province regarding public sector salary reform.