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China saw 46,893 new foreign-invested firms in the first ten months of 2024, marking an 11.8% year-on-year increase. This growth underscores China's resilience and global investment appeal.
Dubai's economy expanded by 3.3% year-on-year in Q2 2024, reaching AED116 billion. The strong growth reflects resilient diversification strategies and robust tourism and real estate sectors.
The complex, strategically located, aims to produce a wide range of petrochemical products, including polyethylene, polypropylene, and other essential chemicals used in various industries. By leveraging advanced technology and efficient production processes, the facility is set to meet both domestic demand and export requirements, significantly bolstering Vietnam's position in the global petrochemical market.
The Vietnamese government has recognized the importance of this industry as a key driver of economic growth and technological advancement. With a vision to establish a robust semiconductor ecosystem, the strategy aims to attract foreign investment, enhance research and development capabilities, and foster collaboration between domestic companies and international partners.
The recent expansion can be attributed to several factors, including trade agreements that enhance market access and a shift in production from traditional manufacturing hubs. As companies seek more resilient supply chains, Vietnam has emerged as an attractive alternative, offering competitive labor costs and a skilled workforce.
In addition to these investments, Bac Ninh signed cooperation agreements for future projects with South Korea’s Samsung Display and Japan’s Aeon Mall Vietnam, with total investments of $1.8 billion and $190 million, respectively.
Large-cap stocks in the financial and manufacturing sectors led the market’s decline. Notably, the Bank for Investment and Development of Vietnam (BID) saw the steepest drop, decreasing by 0.71% and contributing nearly 0.5 points to the VN-Index's overall decline. FPT Corporation (FPT) and Southeast Asia Commercial Joint Stock Bank (SSB) also faced losses, falling by 0.96% and 3.63%, respectively.
As of the latest trading session, the ringgit was seen strengthening, with analysts attributing the gains to improved economic indicators. Lower inflation rates are typically viewed as favorable, as they suggest stability in the economy and can lead to increased consumer spending. This shift has provided a more favorable environment for the currency, enhancing its appeal to investors.
The speech, scheduled for early afternoon local time, is expected to highlight Japan’s investment opportunities, economic reforms, and the government's commitment to creating a more investor-friendly environment.
Ramaphosa's defence comes in response to Western criticism that China's loans, particularly for large infrastructure projects, burden African nations with debt they struggle to repay.
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