OneStepVietnam presents
Monthly Newsletter of September 2024
ECONOMIC NEWS
Typhoon Yagi, the strongest in Asia this year, cost Vietnam around VND 50 trillion (US$2 billion) and is predicted to affect the country’s GDP growth by 0.15 percent. However, international groups remain optimistic about Vietnam’s ability to withstand economic challenges. The IMF increased the estimate of Vietnam’s GDP growth to 6.1 percent in its September report, up from its own estimate of nearly 6 percent in the June edition. IMF recommended that the Vietnamese government move quickly to maintain macro financial stability as both internal and foreign challenges hampered the country’s economic recovery from the pandemic.
Vietnam attracted over US$24.78 billion in foreign direct investment (FDI) in the first nine months, a year-on-year increase of 11.6 percent, as reported by the Foreign Investment Agency (FIA). The above figure includes US$13.55 billion poured in 2,492 newly-licensed projects, up 11.3 percent from the same period last year. Foreign investors committed to increasing investments by US$7.64 billion in 1,027 existing projects, up 48.1 percent on year in terms of capital volume. Foreign investors have invested in 18 out of 21 economic sectors, with the manufacturing and processing industry leading the way with over US$15.64 billion, accounting for 63.1 percent of total registered capital. The FIA highlighted the quality of foreign investment flows into Vietnam during the January-September period as there were large-scale projects in the semiconductor and energy sectors, as well as the production of components, electronic products, and many other products.
Source: Vietnam Economic News
NEW LEGAL REQUIREMENTS
There is no new legal regulation related to compliance and sustainability issued in this month.
ONESTEPVIETNAM NEWS
Besides the regular audit, assessment, Higg FEM and SLCP verification services for our customers. OneStepVietnam also provided the training for factory to improve the CSR/ESG system and develop internal assessment skills.
OneStepVietnam team – September 2024