The State Bank of Vietnam has issued a directive urging credit institutions to accelerate credit growth from the early months of 2024, a pivotal step toward propelling economic growth.

As the Lunar New Year (Tet) approaches, decoration shops along the streets of Ho Chi Minh City such as Hai Thuong Lan Ong, Tran Hung Dao, Nguyen Trai, Phung Hung are showcasing a plethora of Tet-themed products, boasting diverse designs.

Total retail sales of goods and revenue from consumer services in January were estimated at VND524.1 trillion (US$21.47 billion), up 8.1% year-on-year, as consumers have been on the mood to shop for the upcoming Tet (Lunar New Year) Festival, according to the General Statistics Office (GSO).

Vietnam is the destination with the highest number of business class bookings, followed by Thailand and Japan, according to data from Gmarket’s analysis of 2023 airline ticket sales in the Republic of Korea (RoK) market.

Hanoi real estate market in 2023 saw the lowest sales in the villa and townhouse segment in the past 10 years, but selling prices of the villa and townhouse segment in Hanoi continued to increase strongly.

Purchasing power for the traditional Lunar New Year (Tet holiday) will increase 10% from the same time last year, according to the Ministry of Industry and Trade.

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).

With bright signs seen in the last months of 2023, many experts predicted that the domestic steel sector can recover in 2024.

2023 was a challenging year for the Vietnamese automobile market as sales fell 25% year-on-year despite a 50% cut in the registration fee from July 1, according to the Vietnam Automobile Manufacturers Association (VAMA).

Vietnam has emerged as a frontrunner in B2B sales on credit, boasting a 67% ratio, surpassing the 51% average in Asia, reported a recently-revealed Atradius Payment Practices Barometer survey.