Standard Chartered forecasts Vietnam's Q3 GDP to show continued recovery

Standard Chartered Bank forecasts Vietnam's Q3 GDP growth to pick up to 5.1% y/y from 4.1% y/y in Q2, according to its latest global research report titled "Vietnam Macro: Q3 GDP to show ongoing recovery". 

September data is likely to show a slight improvement from August, supported by retail sales. The bank expects September retail sales growth to remain robust at 8.2% yoy, while exports to fall 6.2% yoy, imports to fall 7% y/y, and industrial production growth to pick up to 3.2% y/y. The bank maintained its GDP growth forecast for 2023 at 5.4%.

Vietnam to join nearly 30 tourism stimulus programs in 2024

Mu Cang Chai in Yen Bai Province attracts a large number of tourists. Photo: Duy Khanh/The Hanoi Times

The Vietnam National Tourism Authority and the Vietnam Tourism Development Fund under the Ministry of Culture, Sports and Tourism will coordinate with localities and businesses to send delegations to nearly 30 events to promote Vietnam tourism in 2024, such as the ASEAN Tourism Forum 2024, ITB 2024 Exhibition, Seoul International Tourism Fair 2024, China-ASEAN Expo 2024, Festival for Adventurous Music and Art 2024.

The agency plans to organize trips to conduct research in Vietnam's key source tourism markets, including China, Taiwan (China), Europe, ASEAN, Australia, India, and the US.

Vietnamese spend over US$33 million on Australian lobster

Vietnamese spent US$33.3 million on lobster imported from Australia in the first seven months of this year, up more than 138% year-on-year, according to Rebecca Ball, Australia's Senior Trade and Investment Commissioner. Seafood products from Australia are becoming increasingly popular with the Vietnamese people, she said.

Fruit and vegetable exports exceed $4 billion in Jan-Sep

Fruit and vegetable exports reached an estimated $4.1 billion in the first nine months of 2023, up nearly 70% year-on-year, according to the Vietnam Fruit and Vegetable Association. Durian, bananas, and dragon fruit contributed significantly to the growth. At present, China remains Vietnam's largest importer of fruits and vegetables, followed by the US, South Korea, and Japan.

Each district/ town in Hanoi to build at least one smart new rural model

Semi-industrial poultry slaughter line in Hanoi's Chuong My District. Photo: Anh Ngoc/The Hanoi Times

Hanoi encourages each district and town to build at least one smart new rural model or e-commerce rural model, and consider replicating them, according to the newly formulated plan of the Hanoi People's Committee on implementing the digital transformation program in building new rural areas, towards smart new rural areas in Hanoi by 2025.

Deputy PM calls for tougher penalties for traffic violations

At the regular meeting of the National Traffic Safety Committee on September 21, Deputy Prime Minister Tran Luu Quang called for the use of scientific and technological solutions to collect data and impose penalties for traffic violations instead of direct fines.

He also requested the Ministry of Public Security to expedite the implementation of a project aimed at installing surveillance cameras and traffic command centers to monitor safety and maintain order while addressing administrative violations. Additionally, there is a need to simplify the processes and procedures for handling and paying fines related to traffic violations.

Hanoi approves plan to turn Gia Lam into urban district

A decision to make Gia Lam an urban district of Hanoi, based on the existing natural area of over 116 km2 and a population of over 300,000, was approved by the municipal People's Council on September 22.

Gia Lam District will be designated as an urban area, extending eastward from the capital city's downtown, with primary functions in commercial services, education, and healthcare facilities integrated with industry and high technology. The infrastructure will be developed in alignment with the strategy of combining industrial growth with residential and service development. Gia Lam encompasses 16 wards, formed from the consolidation of the district's original 22 communes and towns.