Investment

The northern province of Bac Ninh collected more than VND18.62 trillion to the state budget in the Jan-Aug period of 2020, fulfilling 64% of the estimate or equivalent to 93% of the same period last year, according to a report of the provincial Department of Finance.

There were some 13,400 new enterprises established during August with total registered capital of 288.8 trillion VND (12.45 billion USD) and 96,300 jobs, according to the General Statistics Office (GSO).

Vietnam attracted 19.54 billion USD worth of FDI as of August 20, down 13.7 percent year-on-year, according to the Ministry of Planning and Investment.

The northern province of Ninh binh's total retail sales revenue hit 2,6 trillion (112 million USD) in July, up 10.6 per cent year-on-year.

Ninh Binh had 12 products qualified for standards of One Commune-One Product (OCOP) program in 2019.

The wood processing industry is to become a spearhead economic sector by 2025, posting export turnover of about USD 20 billion to contribute to socio-economic development and stabilize the livelihoods of people living in forested areas.

There are few opportunities for businesses to develop support industries in Vietnam amid the global economic crisis caused by COVID-19, according to economists.

Since the beginning of the year, the country has installed more than 19,000 rooftop solar power projects with a total capacity of 541.66 MWp, said the Vietnam Electricity Group (EVN).

The Government has issued Resolution 115/NQ-CP figuring out goals and measures to boost the development of supporting industry through 2030.

Vietnam exported 3.9 million tonnes of rice, earning 1.9 billion USD, in the first seven months of this year, according to the Department of Agro Processing and Market Development under the Ministry of Agriculture and Rural Development.

The National Assembly's resolution on reducing corporate income tax by 30% for small and medium-sized businesses came into effect on August 3.

The US, China, EU, ASEAN, Japan and the Republic of Korea were the biggest importers of Vietnamese goods in the first seven months this year, according to the General Statistics Office.

PM Nguyen Xuan Phuc has recently issued Directive 31/CT-TTg on building socio-economic development norms and state budget estimates for 2021.

The northern province of Ninh Binh has for years implemented a plan to develop and expand its traditional handicraft villages, especially six famous craft villages to serve tourism needs and preserve traditional crafts.

The Vietnamese economy is expected to expand by 3.8% this year in the optimistic scenario that the coronavirus outbreak does not flare up again and domestic economic activity gradually returns to normal, according to a think-tank.

The Department of Industry and Trade of Ninh Binh province said it would not adjust its export target despite a wide range of difficulties caused by the COVID-19 pandemic.

Vietnam's public investment disbursement in the first half of 2020 was estimated at VND156 trillion (US$6.7 billion), according to the Ministry of Planning and Investment (MPI).

Vietnam's industrial production grew by a modest 2.71% in the first six months of 2020 due to the impact of the coronavirus, according to the General Statistics Office.

Retail and service revenue amounted to some 2.38 quadrillion VND (103 billion USD) in June, up 6.2 percent on month and 5.3 percent on year.