Delegates attend a meeting on digital enterprises and innovation in Hanoi on October 26 (Photo: tienphong.vn) Hanoi (VNS/VNA) - Vietnam’s gross domestic product (GDP) growth reached 6.81 percent last year, the highest in the last decade. The country’s competitive capacity increased five places to rank 55th out of 137 countries, its innovation index increased 12 ranks and the index of sustainable development rose 20 places. These achievements are attributed to the efforts of the Government in transforming the economic growth model, applying the achievements of industry 4.0 and promoting innovation in the digital era, announced a meeting on digital enterprises and innovation in Hanoi on October 26. It was co-organised by the Institute for Brand and Competitiveness Strategy (BCSI) and the Vietnam Internet Association. The digital economy has four pillars, which are digital technology infrastructure, supporting infrastructure, electronic business and e-commerce, said … [Read more...] about Technology key to Vietnam’s economic growth
Economic growth
NA talks key tasks for next stage of economic growth
There are nine key tasks that must be accomplished in 2019-20 to restructure Viet Nam’s economy, according to the Minister of Planning and Industry Nguyen Chi Dung.– VNA/VNS Photo There are nine key tasks that must be accomplished in 2019-20 to restructure Viet Nam’s economy, according to the Minister of Planning and Industry Nguyen Chi Dung. Minister Dung told the National Assembly on Monday afternoon that the Government needed to improve the mechanisms of the market-oriented economy to restructure the economy. Private companies and people must be empowered and given more incentives and reductions in taxes and administrative procedures to nurture their business development, he said. Secondly, a competitive market must be built on two main pillars: better allocation of resources for the private sector and better practice of property rights, Dung said. In addition, the Government has to improve the quality of land right regulations and try to figure out how to improve … [Read more...] about NA talks key tasks for next stage of economic growth
Bright picture forecast for Vietnam’s economic growth
The first three quarters of 2018 have ended with numerous reports on Vietnam’s economic growth. Reports by the Asian Development Bank, World Bank and IMF affirmed the economic target of 6.5 to 6.7% growth set by the National Assembly is achievable and likely to be surpassed. However, there is still lots of work to do to sustain the economy and prepare for 2019. In early October, the World Bank released the East Asia Pacific Economic Update report, which praised Vietnam’s achievements thanks to the recovery of the global economy and also domestic reforms. The World Bank lifted Vietnam’s GDP forecast this year to 6.8% from 6.4% in April. According to experts, the problems facing Vietnam are fiscal imbalance, a lack of diverse capital mobilisation channels and limited management capacity of enterprises. Those problems need all-out and long-term efforts as well as joint collaboration among the government, enterprises and people to solve.-VNA … [Read more...] about Bright picture forecast for Vietnam’s economic growth
Vietnam’s economic growth forecast at 6.88 percent in 2018: CIEM
Ilustrative photo (Photo: VNA) Hanoi (VNA) - The Central Institute for Economic Management (CIEM) has forecast Vietnam’s economy growth for 2018 may be at 6.88 thanks to positive socio-economic results in the first nine months of this year. The forecast is higher than the institute’s prediction of 6.71 percent released three months ago. For the whole year, export growth is also forecast at 13.34 percent, trade surplus at 5.1 billion USD, and average inflation at 3.97 percent, the CIEM said at a seminar themed "Vietnam's Economy: Deepening Reforms and Enhancing Investor Confidence", co-hosted by CIEM and the Australian-funded programme, Australia Supports Economic Reform in Vietnam (Aus4Reform), in Hanoi on October 17. The workshop aimed to update and evaluate the macroeconomic developments in the third quarter and the outlook for the whole year, while giving recommendations on economic reform and macroeconomic management orientations in the last months of 2018 and the … [Read more...] about Vietnam’s economic growth forecast at 6.88 percent in 2018: CIEM
Vietnam’s economic growth forecast at 6.88% for the whole year: CIEM
>>> Think tank sets positive outlook for economic growth in 2018 The estimated data was provided by the Central Institute for Economic Management (CIEM) at a seminar themed "Vietnam's Economy: Deepening Reforms and Enhancing Investor Confidence", co-hosted by CIEM and the Australian-funded programme, Australia Supports Economic Reform in Vietnam (Aus4Reform), in Hanoi on October 17. The workshop aimed to update and evaluate the macroeconomic developments in the third quarter and the outlook for the whole year, while giving recommendations on economic reform and macroeconomic management orientations in the last months of 2018 and the following years. Priorities given to macroeconomic stability According to CIEM's report, high economic growth in the first two quarters of this year will help to significantly reduce the pressure on achieving the economic growth targets in the last months of the year. Exports and the disbursements of foreign investment increased quite stably, … [Read more...] about Vietnam’s economic growth forecast at 6.88% for the whole year: CIEM