Business

Despite a modest share of 1.3%, the travel and tourism industry reached an estimated VND40.6 trillion ($1.54 billion), posting a strong growth rate of 12.2%.

The figure representing a year-on-year rise of 25%.

The company signed a memorandum with Thailand’s Woothi Interdrug as part of a broader push to deepen economic cooperation between Thailand and Vietnam and advance healthcare supply chain modernization in the region.

Among the 58 countries and territories with newly licensed investment projects in Vietnam during this period, Singapore was the largest investor with $6.8 billion (45.9% of total newly registered capital).

The rise mainly driven by increases in electricity and water prices amid higher demand during hot weather, as well as higher prices of construction materials, housing rents and petrol.

Priority will be given to sectors linked to trade and investment to attract development resources, particularly for large-scale infrastructure projects in these regions.