Many large and unexpected merger and acquisition (M&A) deals were made in 2016, with retail and real estate continuing to dominate the domestic market.

The Vietnam National Textile and Garment Group reported garment and textile enterprises have received enough orders to keep them busy through the first quarter of this year.

VOV.VN - The US founded retail chain 7-Eleven announced plans in mid-2016 to open its first store in Vietnam in the spring of 2017.

The Vietnamese Ministry of Construction will carry out routine compliance inspections on 12 major corporations, including Vingroup, Sun Group, Bitexco, and Phu My Hung.

The US magazine Forbes said Vietnam can meet its target of 6.7% GDP growth in 2017 thanks to five engines, including its resources and trade agreements with other nations.

By developing an agricultural value chain, the southern province of Tay Ninh expects to raise its agricultural GDP and average farmer income per year from the current figures of US$3 billion and US$1,500 to US$8 billion and US$5,000, respectively, after five years.

Giant steel maker Hoa Sen Group (HSG) targets revenues of US$1 billion for the fiscal year 2016-17, HSG announced at its annual shareholders’ meeting, in HCM City recently.

VOV.VN - Hanoi is making moves to fuel development since it assesses local GDP growth, which hit 8.2% in 2016 – a six-year high, as unsustainable.

VOV.VN - Although Vietnam’s economy had no major breakthroughs in 2016, it managed to maintain a stable growth thanks to careful government management. 

 A seminar took place in Ho Chi Minh City on January 7 to discuss risks in international trade and foreign debt recovery following the recent fraud faced by several seafood exporters. 

Authorities of the central province of Thua Thien-Hue will spend VND2 trillion (around US$88.6 million) on technical infrastructure in 2017, towards satisfying local socio-economic development requirements. 

The State Bank of Vietnam has set a credit growth target of 18% for this year and it pledged to continue measures to keep credit growth suitable to the country’s economic development.

Industrial zones in Ho Chi Minh City are expected to attract investments worth US$500 million in 2017.

The leather and footwear sector forecasts its export earnings can reach US$18 billion this year, up more than 10% from 2016, while manufacturing index would grow by 5%.

Sai Gon Giai Phong newspaper has hosted a ceremony in Ho Chi Minh City to honour 30 outstanding businesses in various fields with “the most favourite Vietnamese brand names in 2016”, as voted by the newspaper readers.

Vietnam exported 1.79 million tonnes of coffee in 2016, earning US$3.36 billion, according to the Ministry of Agriculture and Rural Development. 

State budget revenues surpassed the yearly target to hit VND1.1 quadrillion (US$48.4 billion) as of December 31, 2016, up 7.8 % or VND79.6 trillion higher than the target.

The Vietnam News Agency has selected ten outstanding economic events of 2016 as follow.

VOV.VN -  2016 has seen many milestones with Vietnam signing free trade deals which have benefited its economy.

VOV.VN - Transnational companies from the Republic of Korea (ROK) operating in Vietnam have yet to yield the profit levels they anticipated from investments in the emerging Southeast Asian country’s market, according to trade reports.

VOV.VN - A trade fair showcasing the simple designs, classic forms and practical uses of Japanese consumer goods has opened in Hanoi at the Friendship Palace at 91 Tran Hung Dao Street.

VOV.VN - Chung cake, green bananas, pork pies, peach and kumquat trees are much sought after when the Lunar New Year festival or Tet is nearing 

VOV.VN - Telephones and components, garments, electronics, footwear, machinery and equipment are among top ten export products in 2016 that contributed to elevating the country’s total export revenue to US$175.9 billion, according to the General Statistics Office of Vietnam.

The General Statistics Office has estimated Vietnam’s 2016 retail revenue at US$118 billion, a 10.2% rise over the previous year.

VOV.VN - Vietnam has set targets of 6.7% GDP growth, stabilizing the macro-economy, and ensuring social security for 2017. To meet these goals, the Government has initiated a number of action plans.

The future of Thach Khe mine in Ha Tinh, where Kobe Steel’s unmoving Nghe An project expects to source ore for steel production, has become unclear thanks to financial troubles.

Many banks have plans to expand employment this year as around 25.6% of banks said they had fallen short of staff by the end of last year, the Monetary Statistics and Forecasting Department of the State Bank of Vietnam revealed in a survey.

On December 28, the People’s Committee of Thua Thien-Hue licensed PSH Group from Spain to develop Hue Amusement & Beach Park at Vinh Thanh and Vinh An communes of Phu Vang district.

The Mekong Delta city of Can Tho fulfilled 11 out of 13 socio-economic development targets in 2016 thank to all-out efforts of local authorities and people. 

According to statistics from the General Customs Department, by December 15 Vietnam had imported a total 13 million tonnes of coal worth US$860 million, more than four times the targeted 3 million tonnes.