The Vietnamese economy is forecast to expand at 5.5% in the first quarter of the year as manufacturing and trade regain momentum, according to the United Overseas Bank Limited (UOB).

Domestic automobile market is currently facing a situation of high supply and low demand. This has resulted in a decline in sales and an excess of inventory for carmakers.

Leading Vietnamese electric vehicle (EV) maker VinFast said on February 21 that it will break ground on its integrated electric vehicle (EV) manufacturing site in Thoothukudi city, India’s Tamil Nadu state, on February 25.

VOV.VN - Vietnam will implement a national strategy on semiconductor industry development in 2024 to make it a key national industry in the coming decades, said Minister of Information and Communications Nguyen Manh Hung.

Vietnam’s Manufacturing Purchasing Managers' Index (PMI) recorded a return to growth in early 2024, driven by an improved economic outlook that led to an increase in new orders, S&P Global has reported.

The index of industrial production (IIP) in January fell 4.4% month on month but still went up 18.3% year on year, reported the General Statistics Office (GSO).

Vietnam’s manufacturing sector displayed signs of improvement in January 2024, ending a five-month falling streak, as the S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 50.3 from December’s 48.9.

VOV.VN - Vietnam is one of the several leading countries that can benefit from the CHIPS and Science Act of the United States with large funds to be allocated, reported Nikkei Asia quoting Jose Fernandez, US undersecretary of state for economic growth, energy and the environment.

VOV.VN - Prime Minister Pham Minh Chinh and senior Vietnamese officials attended a panel discussion with global businesses in Davos, Switzerland, on January 16, examining ways to develop artificial intelligence (AI), automobile technology, semiconductor chips and ecosystems in Vietnam.

The sales index of the processing and manufacturing sector in December 2023 rose 3.1% month-on-month and 5.1% year-on-year, according to the Ministry of Industry and Trade (MoIT).