VietNamNet Bridge – Vu Viet Ngoan, head of the Prime Minister’s Economic Advisory Team, talks to Thời báo kinh tế Việt Nam (Việt Nam Economic Times) about how the country can maintain its strong growth in 2019 and the next few years with internal strengths. Loading cargoes at the Hoang Dieu Port in the northeastern city of Hai Phong. — VNA/VNS Photo Thong Nhat The Government’s report said 2018 saw “comprehensive and positive achievements across all socio-economic aspects”. In your opinion, what was the highlight? In 2018, the Vietnamese economy witnessed growth in all three sectors – agriculture, industry and service. Not only have we attained high GDP growth, we have also consolidated macroeconomic fundamentals and increased the quality of growth, with the increase in productivity and higher ratio of manufacturing industries in the GDP compared to 2017. For me, there are two points that outshine … [Read more...] about Market confidence to drive Vietnam economic growth in 2019
10x growth con 2019
Economist Vo Tri Thanh At the end of 2018, Viet Nam’s Gross Domestic Product (GDP) – one of the primary indicators used to gauge the health of a country’s economy – was announced by Vietnam General Statistics Office, beating forecasts made by many international institutions. Earlier, the International Monetary Fund (IMF) predicted the country’s 2018 GDP growth rate would stand at 6.6 per cent in its October report titled ‘Asia at the Forefront: Growth Challenges for the Next Decade and Beyond’. The Australia and New Zealand Banking Group’s Research Unit lowered its projection by 0.2 percentage points to 6.5 per cent. Though more optimistic, the Asian Development Bank (ADB) still cautiously adjusted its growth forecast from 7.1 per cent to 6.9 per cent for 2018. In fact, the 2018 figure reached an amazing growth rate of 7.08 per cent, the strongest growth Vietnamese people have seen in 10 years. However, whether the country is able to … [Read more...] about High growth in 2019: Realistic or optimistic?
The agricultural sector targets 3 percent in gross domestic product (GDP) growth in 2019. (Photo: VNA) Hanoi (VNA) – The agricultural sector targets 3 percent in gross domestic product (GDP) growth in 2019, according to the Ministry of Agriculture and Rural Development. It will strive for some 42-43 billion USD in export revenue, 48-50 percent of communes recognised as new-style rural areas, and 41.85 percent in forest coverage. The ministry said that the sector enjoyed a successful 2018 when it contributed 8.7 percent to the country’s economic growth in the year. The value of agriculture, forestry and fishery expanded 3.76 percent, the highest level in recent seven years. Meanwhile, the export of agro-forestry-fishery products hit a record high of 40 billion USD. As of the end of 2018, a total of 3,787 communes nationwide or 42.4 percent had been recognised as new-style rural areas, representing a year-on-year rise of 8.02 percent. According to the National … [Read more...] about Agricultural sector strives for 3 percent GDP growth in 2019
Vietnam Economy HCMC targets 8-8.5% GRDP growth in 2019 By Van Nam Monday, Aug 20, 2018,17:57 (GMT+7) HCMC targets 8-8.5% GRDP growth in 2019By Van Nam The city is striving to develop its urban infrastructure to provide safe water, control flooding and reduce traffic congestion. – PHOTO: VAN NAM HCMC – The HCMC government aims for a gross regional domestic product (GRDP) growth rate of 8-8.5% next year, according to a newly released directive. The municipal government will make every effort to improve the quality of the city’s economic growth and its competitiveness, the directive says. The development of a favorable and transparent business environment will be necessary to draw investments and develop the local business community. At the same time, the local government will restructure its State-owned enterprises to enhance their operational efficiency. The municipal administration aims to push up its … [Read more...] about HCMC targets 8-8.5% GRDP growth in 2019
Based on the gross regional domestic product (GRDP) in the first six months of this year, localities are required to estimate the figure for the whole year and forecast development prospects to identify a rational GRDP for 2019. To reach the goal, the Government will accelerate administrative reforms and build a modern and professional administrative system to serve national development. Meanwhile wage reform will be sped up in line with the resolution adopted at the 7th plenary session of the 12th Communist Party of Vietnam Central Committee. The reform must ensure that payrolls encourage investment in human resources and greater labour productivity. Regarding the settlement of complaints and denunciations, and corruption prevention, inspections should be enhanced in fields that pose risks like land management, public assets and construction using State funds. Examination, prosecution and trial will be carried out for serious economic frauds and punishment will be given to anyone … [Read more...] about Government targets 6.8 percent in GDP growth in 2019