The government is boosting public investment, which will help reach growth goals, photo Le Toan Deputy Minister of Planning and Investment Tran Quoc Phuong told VIR that the Ministry of Planning and Investment (MPI) is designing feasible scenarios for economic growth next year, with the target of about 6 per cent considered achievable. … [Read more...] about Positive growth trajectory likely
6 month growth chart
“As per our calculations, revenues from state-owned enterprises, foreign-invested enterprises, and non-state enterprises have and will in 2020 continue to drastically reduce as compared to 2019,” Hien said, adding, “Unpaid debts remain at a very high level. As of September 30, the figure was VND106.5 trillion ($4.63 billion), up 23.3 per cent against the end of last year. The main cause is that the COVID-19 pandemic, natural calamities, and climate change have badly affected enterprises’ production and business activities in all sectors.” … [Read more...] about Budget rise to cushion country’s growth hopes
Hanoi (VNA) – The acceleration of a digital economy is one of the Vietnamese government’s focuses to foster economic restructuring in combination with renewing the growth model and growth quality. Vietnam needs to make the best use of the Fourth Industrial Revolution to build a digital society and develop a digital economy, towards an industrialised country by 2045. Digital transformation will help hike Vietnam’s GDP by 1.1 percent each year. This requires Vietnam to conduct the process more strongly because digital transformation is the key to building a digital economy. According to the General Statistics Office, labour productivity in the Vietnamese economy was estimated at 102 million VND (4,512 USD) per workhand in 2018, up 5.93 percent from the previous year. In the 10-year period (from 2007-2016), Vietnam recorded a high productivity increase compared to other ASEAN nations with an annual average increase of over 4 percent. However, Vietnam's labour … [Read more...] about Digital transformation: The key to digital economy development
In 2021 the government’s direct debt service will likely be nearly VND368.3 trillion (over $16 billion) and the public debt will exceed VND4 quadrillion ($173.9 billion), with an increasing debt service. However it is forecasted that by late 2021, the public debt will be about 46.1 per cent of GDP in the case that GDP will be reassessed, and be about 58.6 per cent of GDP if it is not. … [Read more...] about Tight control of debt safeguarding finances
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