Despite a slowdown in industrial production, confidence among the business community is expected to continue climbing, which is backed by government efforts to provide a more friendly business environment.

Vietnam’s manufacturing sector displayed signs of improvement in January 2024, ending a five-month falling streak, as the S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 50.3 from December’s 48.9.

Entering the market is already difficult, but maintaining market share can be even more difficult.

Businesses, supermarkets and petty merchants at traditional markets have prepared large inventories for the Tet sale season, but sales have been going slowly as people have cut back on spending.

The Ministry of Industry and Trade held a trade promotion conference in Hanoi on January 31 in an effort to boost trade promotion and market development in 2024.

The US Chamber of Commerce is reviewing the process of recognizing Vietnam’s market economy status, hoping to make it in time by June 2024, revealed US Ambassador to Vietnam Marc Knapper.

In 2024, the Government plans to improve the business environment through comprehensive reforms, policy changes and supporting businesses in 2024.

Joining IPEF, the new high-standard economic cooperation framework with the participation of strong power like the US and other countries in the Indo-Pacific could help Vietnam overcome numerous challenges posed by the sluggish global economy.

The government has requested new measures to assist Vietnam in maintaining its growth outlook and ensuring it meets export targets this year, via its annual resolution covering the general economic situation.

Despite a raft of challenges, the country recorded relatively comprehensive socio-economic achievements, standing out as a bright spot in the region and the world as a whole.

The Vietnamese economy will grow by 6% this year with the strength of the national economy coming from a combination of consumer and investment spending, according to the 2024 Investment Outlook report for the first half of the year released by HBSC.

According to the Asia House Annual Outlook 2024, Vietnam's economy is likely to continue to outperform its regional neighbours through 2024.

With a recovering economy in 2023, Vietnam has earned upbeat growth projections from international organisations for this year.

Vietnam’s economic outlook for 2024 is anticipated a 6 per cent growth, driven by a rebound in exports, AMRO forecasts.

Over 17 years of being a member of the World Trade Organisation (WTO), Vietnam has seen hallmark economic growth thanks to economic integration into the world, providing strong momentum for further development.

The joyful atmosphere on those days is a result of Vietnam’s successful navigation through the challenging year of 2023, marked with positive developments.

The tough year of 2023 is expected to be followed by positive signs of an economic recovery. Vicente Nguyen, CIO of AFC Vietnam Fund, talked with VietNamNet about economic prospects in 2024, and the advantages and problems in the economy.

Competent Vietnamese agencies are formulating additional breakthrough support policies aimed at luring strategic investors amid fierce competition in foreign investment attraction and the imposition of the 15% global minimum tax in 2024.

Manufacturers in key industries are grappling with rising costs and plummeting demand that is weakening manufacturing and export activities.

The government has proposed using more than VND63 trillion from contingency fund of the 2021-2025 public investment sourced from the 2022 increased budget revenue for development projects.