Viet Nam News SINGAPORE — The World Economic Form has released the latest version of its Global Competitiveness Index which saw differing fortunes for longstanding Asian giants. The 2018 edition of the World Economic Forum’s competitiveness Index saw China slip down in the rankings on the back of a slowing macroeconomic situation and longstanding barriers within the Chinese work force. The rankings were led, in Asia, by Singapore and Japan who made significant changes to the economy and work force to make it more competitive and future-proof. According to Singapore Deputy Prime Minister Tharman Shanmugaratnam, employers and educators must address a fundamental challenge for competitiveness, which is to create quality jobs for the future. “It is a challenge because, one way or another, if we succeed in improving speed and efficiency, there will not as be as many jobs in manufacturing in the long term. There will be jobs, there will … [Read more...] about World Economic Forum releases the latest version of its Global Competitiveness Index
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Vietnam among economic outperformers: McKinsey
Vietnam among economic outperformers: McKinseyBy Thanh Thom Workers are seen on a production chain of Samsung Vietnam in the northern province of Bac Ninh. In Vietnam, global players such as Foxconn, Intel, Samsung and Wintek have invested heavily to set up local production facilities and build partnerships with local part manufacturers – PHOTO: VNA HCMC – Vietnam is classified as one of the 11 more recent, less heralded and more geographically diverse outperformers among the emerging economies, according to a report by U.S.-based McKinsey Global Institute. The report, titled, “Outperformers: High-growth emerging economies and the companies that propel them,” was released on September 12 as part of activities within the framework of the ongoing 27th World Economic Forum on ASEAN in Hanoi City. Vietnam is listed among the 11 economies that achieved average annual per capita gross domestic product (GDP) growth of at least 5% over 20 years between 1996 and … [Read more...] about Vietnam among economic outperformers: McKinsey
WEF hails Vietnam’s economic development
Peter Vanham, Media Lead at the US and Industries of the World Economic Forum (WEF) has hailed Vietnam's impressive economic development in an article posted recently on its website. A woman reads a newspaper while selling flowers in a Hanoi market November 14, 2006. Photo by Reuters In the article titled "The story of Vietnam's economic miracle" published September 11 on the WEF's website, the writer said he felt "boundless energy everywhere" in Hanoi. "Vietnam is young, growing, and anything feels possible," the article said. The article showed how has Vietnam grown to become a middle-income country from one of the poorest in the world when the 20-year American War ended in 1975. Under the government’s subsequent five-year central plans after the war, per capita GDP was stuck between $200 and $300 By the mid-1980s. But then something changed. In 1986, the government introduced Đổi Mới, a series of economic and political reforms, and steered … [Read more...] about WEF hails Vietnam’s economic development
WEF on ASEAN starts with open forum
WEF ASEAN 2018: PM welcomes Google’s leaderWEF ASEAN 2018: PM Nguyễn Xuân Phúc welcomes Singaporean counterpartASEAN leaders affirm deeper integration key to growth in Industry 4.0-eraVietnamese MIC raises a flat ASEAN initiative at WEFViệt Nam vows to be reliable, prestigious member of AIIB Panelists at the Open Forum ASEAN take a selfie on stage on September 11. - VNA/VNS Photo Lâm KhánhViet Nam News HÀ NỘI - More than 1,000 participants joined the open forum: ‘ASEAN 4.0 for All?’, which officially kickstarted the World Economic Forum (WEF) on ASEAN 2018, on Tuesday morning in Hà Nội. Speaking at the forum, Vietnamese Minister of Science and Technology Chu Ngọc Anh stressed the importance of the fourth industrial revolution for countries in the region, including Việt Nam. The minister said: "The fourth industrial revolution presents both opportunities for growth and challenges, … [Read more...] about WEF on ASEAN starts with open forum
McKinsey report: Vietnam among economic outperformers
Plastic component production at Seiyo Vietnam Co., Ltd. in Bac Ninh province (Photo: Danh Lam/VNA) Hanoi (VNA) – Vietnam is classified as one of the outperformers among emerging economies, according to a report of McKinsey Global Institute (MGI). The report entitled “Outperformers: High-growth emerging economies and the companies that propel them” was launched on September 12 as part of activities in the framework of the ongoing 27th World Economic Forum on ASEAN in Hanoi. The report identifies the emerging economies which have achieved a track record of stronger and more consistent growth than their peers and examines key factors determining their outperformance. Of the 71 major emerging economies the report analyzes, 18 economies - about one in four - are classified as “outperformers”. Vietnam is listed among the 11 economies that grew at a faster pace for a shorter period - 5 percent annually in the 20 years from 1996 to 2016. They are Azerbaijan, … [Read more...] about McKinsey report: Vietnam among economic outperformers