Topic: 2022

Figures from the Da Nang Statistics Office show that the central city recorded high socio-economic growth in the first nine months of 2022. Its gross regional domestic product (GRDP) growth was estimated at 16.76 per cent year-on-year, with the service sector rising 21.69 per cent, the industry-construction sector 7.83 per cent, and the industrial sector 9.09 per cent. Da Nang’s economic recovery continues apace.

The Ministry of Industry and Trade has reported that electricity both produced and imported for the power network reached 204.359 billion kWh in the first nine months of 2022, up 6.3 per cent over the same period of 2021 but 1.898 billion kWh lower than the 2022 plan.

Total State budget revenue in the first nine months of 2022 in north-central Thanh Hoa province increased 56.5 per cent year-on-year and exceeded the estimate by 39.7 per cent, of which revenue from accommodation and catering services more than doubled. The industrial production index, meanwhile, increased 16.03 per cent. However, the province’s FDI attraction fell sharply, by 39.1 per cent year-on-year.

S&P Global on October 3 released its Purchasing Managers’ Index (PMI) report for Vietnam’s manufacturing industry in September, which reached 52.5 points. There were three highlights: output continued to increase sharply; inflationary pressure eased; and inventories of purchased and finished goods rose. The report shows that Vietnam’s manufacturing industry continued to maintain its growth momentum at the end of the third quarter. New orders are increasing, supporting output, employment, and purchasing activity.

The government and international organizations are optimistic about Vietnam’s economic growth in 2022 and 2023.

A survey conducted by the General Statistics Office (GSO) shows that many enterprises believe that production and business as well as orders will increase by the end of the year, even if global inflation increases. Notably, the non-State sector was the most optimistic, with 83.6 per cent of respondents anticipating better production and business conditions in the fourth quarter. The rate among foreign enterprises was 80.9 per cent.

The average transaction value per session in the stock market reached nearly VND23 trillion ($963 million) in the first nine months of 2022, down 14.5 per cent compared to the average in 2021. In the derivatives market, the average trading volume of futures on the VN30-Index reached 210,910 contracts per session, up 12 per cent from the average last year.

GSO puts growth in the third quarter at 13.67 per cent year-on-year, significantly higher than the 10-11 per cent forecast previously.

Deputy Prime Minister Le Minh Khai has signed a Decision adjusting and supplementing estimates on investment and development expenditures from the central budget in 2022 for ministries, central agencies, and localities. Nearly VND3 trillion ($126 million) was cut from nine ministries and central agencies and two localities, to supplement estimates for the Vietnam Development Bank and the Vietnam Bank for Social Policies.

At the recent “Propaganda and promotion to support the development of trade in mountainous areas and islands in 2022” conference, Mr. Tran Duy Dong, Director of the Domestic Market Department at the Ministry of Industry and Trade, said the production potential of mountainous and remote areas and islands is significant because of their area and geographical location, with many products bestowed upon them by nature.