Asia pacific gdp growth

One slide from Boeing’s 2020 Commercial Market Outlook (CMO) ranks Việt Nam in the top 5 countries which add the most airlines capacity between 2010-19. HÀ NỘI — Southeast Asia will need 4,400 new airplanes valued at US$700 billion to support expanding demand for air travel over the next 20 years, said Darren Hulst, Boeing vice president of Commercial Marketing. In an online conference yesterday, Hulst quoted Boeing’s 2020 Commercial Market Outlook (CMO), saying: “The intra-Southeast Asian market will become the fifth largest in the world by 2039, and the vast domestic and regional air-travel network across the region positions it well for a post-pandemic recovery.” With low-cost carriers providing affordable service and added capacity, CMO estimated traffic growth in Southeast Asia to grow by 5.7 per cent annually in the next 20 years, making the region the second largest aviation market in the Asia-Pacific region after China. Boeing, at the same time, projected the region’s commercial airplane fleet to grow 5.3 per cent annually during the period while the demand for aftermarket commercial services could reach US$790 billion. Hulst said: “Southeast Asia’s fundamental growth drivers remain robust. With an expanding middle-class and growth in private consumption, the region’s economy has grown by nearly 70 per cent over the last decade, which increases propensity to travel,” adding: “Governments in the region continue to recognise the travel and tourism sectors as important drivers of economic growth.” Boeing’s vice president said: “Indonesia, Thailand, Việt Nam, Malaysia and the Philippines are the markets that most contribute to the growth in the global aviation market. They are also places with more room for expansion because of the emerging middle class, which could be 60 million new passengers in the next 15 years.” Hulst also considered Việt Nam as the fastest growing market in terms of growth of air travel in the region with the …

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One slide from Boeing’s 2020 Commercial Market Outlook (CMO) ranks Viet Nam in the top 5 countries which add the most airlines capacity between 2010-19. Southeast Asia will need 4,400 new airplanes valued at US$700 billion to support expanding demand for air travel over the next 20 years, said Darren Hulst, Boeing vice president of Commercial Marketing. In an online conference yesterday, Hulst quoted Boeing’s 2020 Commercial Market Outlook (CMO), saying: “The intra-Southeast Asian market will become the fifth largest in the world by 2039, and the vast domestic and regional air-travel network across the region positions it well for a post-pandemic recovery.” With low-cost carriers providing affordable service and added capacity, CMO estimated traffic growth in Southeast Asia to grow by 5.7 per cent annually in the next 20 years, making the region the second largest aviation market in the Asia-Pacific region after China. Boeing, at the same time, projected the region’s commercial airplane fleet to grow 5.3 per cent annually during the period while the demand for aftermarket commercial services could reach US$790 billion. Hulst said: “Southeast Asia’s fundamental growth drivers remain robust. With an expanding middle-class and growth in private consumption, the region’s economy has grown by nearly 70 per cent over the last decade, which increases propensity to travel,” adding: “Governments in the region continue to recognise the travel and tourism sectors as important drivers of economic growth.” Boeing’s vice president said: “Indonesia, Thailand, Viet Nam, Malaysia and the Philippines are the markets that most contribute to the growth in the global aviation market. They are also places with more room for expansion because of the emerging middle class, which could be 60 million new passengers in the next 15 years.” Hulst also considered Viet Nam as the fastest growing market in terms of growth of air travel in the region with the advantage of a strong …

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Techcombank's credit market share increased 86 basis points in the past five years. — Photo nhipcaudautu.vn Private banks have posted significant growth in credit market share in the past five years. According to statistics from Viet Dragon Securities Company (VDSC), 26 listed banks by the end of 2020 increased their total credit market share to 71.3 per cent from 65.4 per cent at the end of 2015. Of which, the group of private banks, whose credit market share is more than 2 per cent each, posted a 3.5 per cent growth in credit market share in the period, VDSC statistics showed. In which, MBBank ranked first with an increase of 90 basis points, followed by Techcombank and VPBank with rises of 86 and 78 basis points, respectively. The three banks also had compound annual credit growth of more than 20 per cent while their capital adequacy ratios also topped the list. Sacombank was the only bank to lose credit market share with a reduction of 2 basis points. VDSC’s statistics also showed banks made a strong shift to corporate bonds in 2020 so as to spur credit growth in the year when loan demand was affected adversely. The contribution rate of corporate bonds to banks’ credit growth in 2020 ranged from 20-38 per cent. According to VDSC, Viet Nam's economy has been heavily dependent on credit. Therefore, to maintain the country’s GDP growth rate of 6-8 per cent in the coming years as projected, VDSC estimated the credit growth of the banking industry to stay at double digits. VDSC forecast credit growth of the banking industry this year would be 13.1 per cent on average. Major private banks, including Techcombank, MBBank, VPBank and ACB, are expected to maintain their credit growth higher than the industry’s average rate. The State Bank of Viet Nam (SBV) targeted a credit growth rate of 12 per cent this year, equivalent to the growth of 12.13 per cent last year. However, it said the goal was not a fixed figure, as it might adjust it if necessary. …

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