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Newly established enterprises increase 44.6 percent in November

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As many 4,958 enterprises resumed their operations in November, an increase of 15.2 percent compared to the previous month.

Newly established enterprises increase 44.6 percent in November hinh anh 1

Business activities of enterprises have begun to recover after over one month of implementation of Government Resolution No.128 on the adoption of provisional guidelines on safe and flexible living with COVID-19, with the number of new enterprises registered in November up by 44.6 percent compared to the previous month.

According to the General Statistics Office, the country saw 11,900 newly established enterprises with total registered capital of nearly 150 trillion VND ( 6.6 billion USD), up 38 percent month-on-month. The number of registered employees stood at 76,600, an increase of 30.2 percent

Despite a significant improvement compared to October, the average registered capital of a new enterprise in the month was only 12.6 billion VND, down 4.5 percent over the previous month and a decline of 42.1 percent year-on-year

As many 4,958 enterprises resumed their operations in November, an increase of 15.2 percent compared to the previous month.

During the 11-month period, the whole country witnessed 105,600 newly registered enterprises with a total registered capital of nearly 1.45 quadrillion VND and a total registered labour force of 784,200, representing an annual decline of 15 percent, 22.6 percent and 19.2 percent, respectively.

From January to November, 52,100 enterprises temporarily suspended their operations, an increase of 17.3 percent over the same period last year while 39,500 others stopped operating for dissolution procedures, a 7.4 percent hike, and 14,900 completed dissolution procedures, down 3.7 percent./.

Source: VNA

Source: https://vietnamnet.vn/en/business/newly-established-enterprises-increase-44-6-percent-in-november-797128.html

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Vietnam’s 2022 economic growth projected at 7%

Vietnam’s GDP is likely to expand by around 7 percent in 2022, much higher than 2.58 percent growth of 2021.

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Minister of Planning and Investment Nguyen Chi Dung made the above statement at the Cabinet meeting in Hanoi on July 4.

With this scenario, the economy needs to expand 9 percent in the third quarter and 6.3 percent in the last quarter this year, the minister said.

In the first half, the Southeast Asian country’s GDP accelerated to 6.42 percent growth compared to the optimistic scenario of 5,1-5,7 percent as figured out in the Government’s Resolution No. 01/NQ-CP, dated January 01, 2021 on major tasks and solutions for implementation of socio – economic development plan and state budget estimate for 2022. 

Especially, the GDP grew 7.72 percent in the second quarter, which is the fastest growth pace for April-June period since 2011.

Earlier, the World Bank predicted Vietnam’s 2022 GDP growth at 5.5 percent if the COVID-19 pandemic is controlled.

The projection is lower than the Vietnamese Government’s predictions at 6.5-7 percent, HSBC at 6.5 percent and Standard Chartered at 6.7 percent.

Source: https://e.nhipcaudautu.vn/economy/vietnams-2022-economic-growth-projected-at-7-3346528/

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Dragon Capital buys 2.1 million shares of Sacombank

Asset management company Dragon Capital has bought 2.1 million shares of HCMC-based Sacombank, increasing its stake in the bank to 6.09 percent.

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On June 29, two affiliated funds, CTBC Vietnam Equity Fund and Norges Bank, bought 2.3 million shares of the lender while a third, Samsung Vietnam Securities Master Investment Trust, sold 200,000 shares.

The value of the deal is estimated at VND47.5 billion (US$2.03 million) based on the share’s closing price last Wednesday.

Funds under Dragon Capital own 114.8 million shares or a 6.09 percent stake in the bank.

In March, Dragon Capital had raised its stake from 4.98 percent to 5.05 percent, after its largest fund, Vietnam Enterprise Investment Limited, bought 1.25 million shares.

Source: VnExpress

Source: https://e.nhipcaudautu.vn/companies/dragon-capital-buys-21-million-shares-of-sacombank-3346515/

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Vietnam targets 7% GDP growth this year: minister

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HANOI — Vietnam is aiming for economic growth of 7% this year, the country’s planning and investment minister said on Monday, higher than an official target of 6.0%-6.5% set previously.

To achieve this, year-on-year economic growth in the third quarter needs to be 9.0% and in the fourth quarter 6.3%, minister Nguyen Chi Dung also said during a government meeting.

Dung said Vietnam’s budget was in surplus, giving scope for fiscal policy to be used to support businesses and residents.

“Credit institutions will need to further cut their lending interest rates to reduce input cost pressure for businesses and for the economy,” he said.

Vietnam, a regional manufacturing hub, started lifting its coronavirus curbs late last year, allowing factories to resume full operations.

The economy is recovering after growing only 2.58% last year, the slowest pace in decades.

The Southeast Asian country reported GDP growth of 7.72% in the second quarter, backed by strong export growth, but warned of upward inflation pressure for the rest of the year. 

Source: https://tuoitrenews.vn/news/business/20220704/vietnam-targets-7-gdp-growth-this-year-minister/67932.html

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