Economic zones

“Global companies have been testing Vietnam’s capabilities for several years —even before the added impetus from the US-China trade wars,” explained Min Zhou and Vivian Chen, research analysts at global asset management firm AllianceBernstein, in a recent report. “Labour costs in Vietnam, with its younger workforce and ample supply, are about 40 per cent lower than in China. Many popular clothing and sportswear brands, including Nike and Adidas, already have a large manufacturing presence in Vietnam.” … [Read more...] about World watches as China moves ahead on economic chessboard

According to the World Bank’s East Asia and Pacific Economic Update April 2020, Viet Nam is strongly positioned to benefit from numerous free trade agreements that are coming into force over the forecast period. In the first two months, its exports have expanded by 8%, FDI inflows amounted to US$2.5 billion and retail sales were up by 5.4%, the bank said, noting that while prospects remain favorable for the Vietnamese economy in the medium term, GDP growth will be affected negatively by the recent coronavirus outbreak, now a global pandemic. The WB cited preliminary estimates as suggesting that the rate of expansion of the economy could decline to about 4.9% in 2020. Over the medium term, growth is projected to rebound back to 7.5% in 2021 and converge at around 6.5% in 2022, reflecting an improved external demand and a firming of the services sector, as well as a gradual recovery in agricultural production, the WB added. It also suggested Viet Nam manage external risks by … [Read more...] about WB: Vietnam’s economy stays resilient to external shocks

Tuyet Dung, Visa Country Manager for Viet Nam and Laos, said: “Mobile Point-of-Sale [mPOS] technology allows us to connect with more merchants and cardholders in Viet Nam than ever before, which is why we’re so excited to be launching this partnership with NextPay. SMEs make up the vast majority of businesses in Viet Nam, and mPOS makes it even easier for these businesses to accept digital payments, allowing more individuals and businesses to participate in the digital economy.” … [Read more...] about Visa ties up with NextPay

Motorbikes are assembled at a Piaggio Việt Nam factory. Piaggio and other motorbike producers sold more than 282,000 vehicles per month on average last year. — VNA/VNS Photo Trần Việt Viet Nam News HÀ NỘI — The Vietnamese motorcycle market in 2018 broke its sales record set seven years ago with nearly 3.4 million units sold for a year-on-year increase of 3.5 per cent. … [Read more...] about Rising motorcycle market revving up

Malaysia's movement restrictions have prevented major daily spikes in coronavirus infections, the government said on Tuesday, but the World Bank warned the trade-reliant country's economy would shrink this year for the first time in more than a decade. … [Read more...] about SE Asia Stocks-Indonesia, Vietnam rise on govt measures to soften virus impact