Credit growth rate

Its crude steel output rose to 5.8 million tons last year, double the 2019 figure. Hoa Phat accounted for 32.5 percent of the construction steel market. … [Read more...] about Steelmaker Hoa Phat reports 80 pct profit growth

Vientiane (VNA) – Economic expansion of Laos is forecast to contract this year for the first time since 1980s due to impacts of the COVID-19 pandemic, but the economy will recover in 2021, according to the Asian Development (ADB)’s recent report. The Asian Development Outlook (ADO) 2020 Update predicts Laos’ GDP to contract by 2.5 percent in 2020, marking its first negative economic growth since 1986-1987. The growth is expected to rebound to 4.5 percent in 2021, suggesting a slow recovery as the pandemic outbreak is said to subside slowly. ADB Country Director for Laos Yasushi Negishi said the COVID-19 outbreak has not only affected the economic growth in 2020 but also hampered the government’s prospect to collect revenues. The Lao government needs to improve macro-fiscal framework and accelerate public finance reform to create more fiscal space to buffer shocks, he stressed. The bank’s report also shows that agriculture would grow at 1.9 percent … [Read more...] about Laos’ GDP forecast to contract by 2.5 percent: ADB

At the end of 2020, Thien Long and FPT signed an agreement on the consultancy of the overall digital transformation process so that Thien Long can be closer to consumers, reduce costs and increase the effectiveness of its operation. The greatest difficulty in digital transformation is the change of the old governance mindset to a new one. That is also a target set by Thien Long. … [Read more...] about An ambition of huge revenue

The general development goal for the 2021-2025 period and following years is improving the leadership and ruling capacity and the combativeness of the Party; building a pure and comprehensively strong Party and political system; reinforcing people’s trust in the Party, State and socialism; sparking the desire to develop a prosperous and happy nation with the promotion of the will and strength from the national great solidarity bloc in combination with the power of the era; comprehensively speeding up the cause of renewal, industrialization, and modernization; constructing and firmly safeguarding the Fatherland, firmly maintaining a peaceful and stable environment; and striving to turn Vietnam into a socialist-oriented developed country by the middle of the 21st century. … [Read more...] about 13th National Party Congress: Stepping up renewal process, rapid and sustainable national development

With steady and strong growth, phones and phone parts have surpassed traditional export commodities such as textiles and footwear to become the country’s largest export commodity. Over the past several years, they accounted for approximately 20% of the country’s total exports. … [Read more...] about Vietnam’s phone exports fall 0.4% in 2020