Vietnam attracted nearly US$22 billion in foreign investment in 2013, the highest figure since 2008, according to statistics from the Ministry of Planning and Investment (MPI)'s Foreign Investment Agency.
The Government has committed to undertaking economic restructuring in 2014, focusing on investment, credit organizations, the financial market, SOEs, agriculture and rural areas, industry and service.
Senior officials from Vietnam and the Republic of Korea signed a Memorandum of Understanding (MoU) on agricultural cooperation and food safety and security.in Sejong on January 13.
The Vietnamese business community continues to believe in brighter economic prospects for 2014, due to the Government's drastic measures on easing difficulties and expectations emerging from a Trans-Pacific Partnership (TPP), said domestic experts.
The Vietnam Food Association (VFA) has forecasted Vietnamese rice will face tough competition from Thailand and other rice-exporting Asian nations in 2014.
Encouraging movements in business activities, bank services, liquidity, credit and capital mobilisation in the banking system in the fourth quarter of 2013 signal a brighter 2014 for the sector.
The future is looking brighter for Viet Nam as the country begins the Year of the Horse, economists say.
Despite 2013's economic difficulties, Vietnam attracted more than US$21 billion in registered foreign direct investment (FDI), a 54.5% improvement on 2012. But experts warn the country risks lagging behind without stronger efforts at reform.
The economy of Vietnam expanded by 5.42% in 2013, with one fifth of GDP contributed by foreign-invested companies. With pledges totalling US$21.6 billion, foreign direct investment (FDI) in 2013 far exceeded the estimate of US$13-14 billion.
Vietnam's industrial production value in 2013 grew by 7.4 percent from last year's figure thanks to the remarkable recovery of the processing and manufacturing industry.
Vietnam's exports are forecast to enjoy a good year in 2014 thanks to the country's efforts to expand markets and new opportunities generated from trade deals that are expected to be concluded next year.
Vietnam's export revenue from agriculture, forestry and fishery in December totalled over US$2.3 billion, bringing the aggregate sectoral export revenue in 2013 to US$27.4 billion, up 0.7% over 2012.
German Press Agency (DPA), Bloomberg, and The Wall Street Journal (WSJ) recently published articles, announcing economic prospects in Viet Nam in which full-year growth rose 5.42% and inflation reached a record low in ten years.
The Consumer Price Index (CPI) in December increased by 0.51% against the previous month, contributing to a year-on-year rise of 6.04%, the lowest rate recorded for a decade.
This year's GDP grew by 5.42% compared to the previous year, lower than the set target for 5.5% but higher than last year's figure of 5.25%.
Commercial banks are expecting a sharp increase in overseas remittances as 2013 draws to a close, estimating a yearly total approaching US$11 billion.
Vietnam is likely to record a trade surplus in 2013 for a second consecutive year marking a shift in Vietnam's trade relations with other countries.
Total trade turnover between Vietnam and Japan over the first eleven months this year reached more than USD22.9 billion, a year-on-year rise of 1.7 percent, according to the General Department of Vietnam Customs.
With an average growth turnover reaching 35.9% from 2010 to 2012, making up a proportion of 33.9 % of Vietnam's export turnover, China is still one of Vietnam's key markets for farm produce.
Viet Nam attained over US$ 1 billion trade surplus in the 11th month from shipping goods abroad, higher than US$ 0.75 billion of 2012.
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