Economic growth

The report said that Vietnam’s economic outlook in the long run will rely on the attraction of foreign direct investment, the removal of institutional barriers, the improvement of the business environment and the equitization of State-owned enterprises. … [Read more...] about Better legal framework needed to fuel economic growth: VEPR

In order to meet the target, experts suggest the Government should focus on economic reform, while speeding up public investment disbursement and completing major infrastructure works. Improving the business environment with a focus on the private sector was among their other recommendations. … [Read more...] about Challenges remain for economic development in 2020

Singapore (VNA) – The ASEAN +3 Macroeconomic Research Office (AMRO) paints a positive economic outlook for the ASEAN region, China, Japan, and the Republic of Korea (RoK), projecting their growth to hit 4.9 percent in 2020. AMRO upgraded its growth forecast just a month after its previous prediction of 4.7 percent in December 2019, thanks to the signing of a Phase One trade deal between the US and China following nearly two years of dispute. In its report “ASEAN 3 Regional Economic Outlook 2020” released on January 17, AMRO said economic growth of ASEAN 4 (Indonesia, the Philippines, Malaysia and Thailand) and Vietnam will be at 5 percent, while that of China, Japan, the RoK is predicted at 6.1 percent, 0.5 percent, and 2.4 percent, respectively. In the ASEAN bloc, highest growth will be seen in Myanmar (7.1 percent), Cambodia (7 percent) and Vietnam (6.9 percent). AMRO also said that inflation rate of the ASEAN 3 region will be around 2.3 percent, with highest … [Read more...] about Bright growth outlook forecast for ASEAN +3 in 2020

Hanoi (VNA) - The Asian Development Bank (ADB) and the provincial People’s Committees of Ha Giang, Vinh Phuc and Thua Thien-Hue on July 6 signed project agreements totaling 223.87 million USD for the Secondary Green Cities Development Project. The project will support environmentally sustainable and inclusive development in the provincial capital cities of Ha Giang, Vinh Yen and Hue to enhance their economic competitiveness, according to a news release issued by the ADB on the same day. “The ADB will help the cities of Ha Giang, Vinh Yen and Hue integrate green features into their urban infrastructure, such an energy efficient street lighting and nature-based embankments,” said Eric Sidgwick, ADB Country Director for Vietnam. “Building on ADB’s support in preparing Green City Action Plans for the three cities, this project will demonstrate how the right mix of integrated urban planning and blended financing can improve livability, resilience and … [Read more...] about ADB helps Vietnam develop green, resilient cities

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc met a delegation of overseas Vietnamese (OVs) joining the annual “Homeland Spring 2020” programme in Hanoi on January 18. At the meeting, the PM welcomed the expatriates home for the traditional New Year, saying that their participation in the programmer reflects their warm sentiment for and close bonds with the home country. He affirmed that Party and State leaders highly value the OVs’ contributions to the development of the host countries. Phuc added that he is impressed by OV communities’ efforts to maintain the Vietnamese cultural identity abroad such as teaching of Vietnamese language, and holding events featuring Vietnamese cuisine and folk music, thus introducing the Vietnamese culture to international friends. The Government leader also lauded the trade and consumption of Vietnamese goods abroad, as well as remittances sent to the country for economic development. He noted that Vietnam is one … [Read more...] about Prime Minister hails OVs’ warm sentiment for homeland