I/ Socio-Economic News:
The gross domestic product (GDP) growth in 2017 of Viet Nam is estimated to hit 6.81 percent surpassing the Government’s preset target of 6.7 percent. It is the highest rate in the 2011-2017 period. The average GDP per capita is estimated at VND 53.5 million (US$2,385), up US$170 compared to the 2016 rate (as reported by the General Statistics Office GSO)
By the end of 2017, the foreign exchange reserves of Viet Nam has reached US$51.5 billion (as reported by the State Bank of Viet Nam)
Viet Nam’s export and import turnover in 2017 hit US$400 billion, compared to 30 billion in 2011. Viet Nam has over 200 trade partners over the world, including 29 export markets and 23 import markets reaching a turnover upwards of US$1 billion. Of these, there are four export markets and five import markets that reached a turnover higher than US$10 billion. Total export and import value between Viet Nam and Asia in the period hit US$257.4 billion, making up 67 percent of the total turnover (in the speech of Deputy Prime Minister Vuong Dinh Hue on 19 December 2017).
As of 20 December 2017, the total foreign investment capital in Viet Nam, including newly registered capital, increased capital and capital contribution to buy share of foreign investors is US$35.88 billion, up 44.4% over the same period in 2016. The disbursement of foreign investment capital has hit a record up to US$17.5 billion, up 10.8% over last year. Of these, 2,591 new projects were granted investment registration certificates, with a total registered capital of US$21.27 billion, an increase of 42.3% over the same period of 2016. In addition, there were 1,188 projects registered to increase capital with a total to US$8.41 billion, an increase of 49.2% over the same period in 2016. There were 5,002 project of contribution capital, share purchase of foreign investors with a total capital contribution value of US$6.19 billion, up 45.1% over the same period of 2016.
Among invested fields, the industrial processing and manufacturing reached US$15.87 billion, contributing to 44.2% of total investment; fields of production and electricity provision have registered capital of US$8.37 billion, contributing to 23.3% of total investment. In third place is real estate with total registered capital of 3.05 billion USD, contributing to 8.5%. Also in 2017, there are 115 countries and regions investing in Viet Nam, with Japan in the first place with total investment fund of US$9.11 billion, contributing to 25.4% of total investment. Korea is in the second place with total registered capital of US$8.49 billion, contributing to 23.7%; Singapore is in third place with total registered capital US$5.3 billion, contributing to 14.8% (Ministry of Planning and Investment).
The export value of vegetables and fruits is estimated to reach US$3.5 billion this year, marking a year-on-year increase of 43,02 per cent. Viet Nam exports about 40 kinds of fruits and vegetables to 60 countries and territories, including major export markets like China (75,6%), Japan (3,64%), the US (2,94%), South Korea (2,59%)... (The Vietnam Fruit and Vegetable Association)
The number of foreign arrivals to Viet Nam in 2017 was estimated at 13 million, up 29% against 2016. Among them, the number of guests travelling by air hit 10.9 million, representing a year-on-year growth of 32%; by roads by 1.8 million, up 19.5% (the General Statistics Office - GSO).
In 2017, the competitiveness of and the business environment in Viet Nam have been substantially improved. The World Economic Forum (WEF)’s ranked Viet Nam's Global Competitive Index (GCI 2017-2018) 55th out of 137 countries, jumping 20 ranks over five years. Viet Nam’s market size ranks 31st out of 137. According to the WB in a report published 31 October 2017, Viet Nam's 2018 Doing Business ranking is 68th out of 190 countries, an increase of 14 ranks compared to the previous year (ASEAN-5 Group). The World Intellectual Property Organization (WIPO) published their 2017 Global Innovation Index report in May 2017, which showed that Viet Nam advanced to rank 47th among 127 countries and economies, a 12-rank jump (the Governmental Portal)
Viet Nam’s average CPI in 2017 will increase by 3.53% compared to 2016 (the General Statistics Office).
Viet Nam is ranked the 3rd place out of 52 countries and territories investing in Laos with a total capital of US$5.38 billion (VOV).
During the eleven months of 2017, a collective US$4.55 billion of foreign remittances was transferred to accounts in Viet Nam. By the end of 2017, a total of US$5.2 billion (4.5 per cent up against 2016) is estimated. Of these, 60 per cent came from the US and 19 per cent from Europe (Ho Chi Minh City branch of the State Bank of Viet Nam)
Vietnam Airlines has been recognized at global level with two prestigious awards: 'World's Leading Cultural Airline' and 'World's Leading Airline - Premium Economy Class' by World Travel Awards at the Grand Final Gala Cer