OneStepVietnam presents
Monthly Newsletter of April 2024
ECONOMIC NEWS
As reported from the Foreign Investment Department (FID) of the Ministry of Planning and Investment, the foreign investment disbursement in the first four months of this year was expected to be US$6.28 billion, which is a record high over the previous five years. Meanwhile, the foreign investment inflows into Vietnam during the reviewed period also saw a modest increase of 4.5% to nearly $9.27 billion. When up to 966 new foreign-invested projects were licensed with a total registered capital of more than $7.11 billion (up 28.8% and 73.2% respectively), there is a 70.1% decrease in the foreign investors’ capital contributions and share purchases of domestic companies (which totaled $929.6 million).
The manufacturing and processing industry drew the most amount of foreign investment with $5 billion, or 70.2% of the total, followed by the real estate sector with about $1.6 billion, accounting for 22.5% of the total. Singapore topped the list of the 50 nations and territories that invested in Vietnam with approximately $2.59 billion, accounting for 36.4%.
Although Vietnam’s textile and garment export turnover in the first three months of the year reached nearly 10 billion USD, an increase of about 10% over the same period in 2023, the sector is still facing many difficulties and challenges amidst the decrease of consumer demand, the increase of inventory, and geopolitical instability in some countries around the world.
Source: Online Newspaper of the Government, Nhan Dan Online
NEW LEGAL REQUIREMENTS
There is no new legal regulation related to compliance and sustainability issued in this month.
ONESTEPVIETNAM NEWS
On this month, OneStepVietnam’s employees took 2 national Holidays on April 18, 2024 (Hung Kings Commemoration Day) and April 30, 2024 (Victory Day) according to the Labor Code 2020. In addition, we provided regular audit, assessment, Higg FEM and SLCP verification services for its customers as our usual business.
OneStepVietnam team – April 2023