Reaching the Muslim market

Vietnam’s economy continued to receive positive assessments in August, including those from the World Bank (WB) that upgraded its growth forecast for this year to 6.1% from 5.5%.

The Australian Government will permit up to 1,000 Vietnamese workers to be employed in its agricultural sector at any given time, as part of the labour mobility programme between the two countries.

The Southeast Asian economies remain steadfastly resilient and delivered credible economic growth in the second quarter of 2024, with Vietnam and the Philippines continuing as the region’s top two performing economies, growing at 6.9% and 6.3%, respectively, according to McKinsey & Company, a US multinational strategy and management consulting firm.

With the Chinese real estate market stagnant, Chinese cement surplus is set to compete with Vietnamese cement in export markets like the Philippines, Central America and South Africa. This competition is straining the health of cement firms, a trend likely to persist through 2024.

Vietnam is one of the fastest-growing economies in Southeast Asia with promising potential and favourable macroeconomic factors such as a young population, skilled labour force, and abundant natural resources, according to Deputy Chairman & CEO of Singapore-based United Overseas Bank (UOB) Wee Ee Cheong.

About 14.15 billion USD worth of foreign direct investment (FDI) was disbursed in the first eight months of this year, up 8% year-on-year, marking the highest for an eight-month period over the past five years, according to the Foreign Investment Agency under the Ministry of Planning and Investment.