The Hanoitimes - The target is challenging as the higher the income is, the more difficult it becomes maintain high economic growth. By 2045, Vietnam’s nominal GDP is forecast to stand at around US$2.5 trillion, leading to income per capita of US$18,000, according to Prime Minister Nguyen Xuan Phuc. Illustrative photo. Since the economic reform in 1986, Vietnam’s economy has maintained impressive growth, Phuc said at a the National Assembly sitting on November 1. From the GDP per capita of US$230 in 1985, the figure is poised to reach nearly US$2,540 by end-2018, while the income gap between Vietnam and other nations has narrowed significantly, stated Phuc. However, the GDP per capita target of US$18,000 is challenging, as the higher the income is, the more difficult it becomes to keep a high growth rate, the PM said, adding that this requires joint effort from the government and each citizen. Phuc said many Vietnamese generations … [Read more...] about Vietnam’s GDP per capita to reach US$18,000 by 2045: PM
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Vietnam GDP growth set to reach 7% for first time in 10 years: NCIF
The Hanoitimes - Vietnam`s economy would maintain a fast growth pace in the remaining months of 2018, thanks to strong growth from a number of key sectors. Vietnam's GDP is projected to grow by 7.01% in 2018 for the first time in 10 years, according to the National Center for Socio-economic Information and Forecast (NCIF). Illustrative photo. Based on Vietnam's economic performance in the first nine months of 2018 and other factors, NCIF has drawn up two scenarios for growth in 2018. For the first scenario, for 2018, Vietnam's economy is forecast grow 6.83% and the average consumer price index (CPI) of 4%, while the growth rate is expected at 7.01% and CPI of 4 - 4.2% in the second. In 2019, NCIF predicted Vietnam's GDP growth rate at 6.9% and CPI 4% in the first scenario, and the respective figures are 7.1% and 4.5% in the second scenario. The center's analysts assesed that the second one is more likely to happen. According to NCIF, Vietnam's economy … [Read more...] about Vietnam GDP growth set to reach 7% for first time in 10 years: NCIF
Gov’t eyes 6.6-6.8% GDP growth rate for 2019
The Government sets an economic growth target of 6.6-6.8% for 2019, said PM Nguyen Xuan Phuc while presenting a report for socio-economic development norms on October 22 in Hanoi. Prime Minister Nguyen Xuan Phuc delivers a report on Vietnam's socio-economic situation this year and the development plan for 2019 at the opening of the parliament's 6th session on October 22 (Photo: VNA) PM Phuc stressed that in 2019 the Government would continue to consolidate the macro-economy; control inflation; raise self-control competence for the economy; improve the investment and business environment; make practical changes in strategic breakthroughs; restructure the economy and transform the growth modal; raise productivity, quality, efficiency and competitiveness; develop innovations, scientific and technological applications; and make full use of the fourth industrial revolution. The Government will develop culture, society, ensure social security; raise people’s … [Read more...] about Gov’t eyes 6.6-6.8% GDP growth rate for 2019
Việt Nam holds its own against external trade threats, achieves 6.7% GDP growth
Viet Nam News HÀ NỘI — Well-crafted policies have increased the national economy’s ability to adapt to global economic shifts, especially against the looming prospects of a trade war and international financial and monetary risks, Prime Minister Nguyễn Xuân Phúc said. The Vietnamese Government leader made the remarks as he was delivering a report on socio-economic progress in 2018, the Government’s plans for 2019, as well as the mid-term assessment of the five-year programme (2016-20 period) in front of the 6th sitting of the 14th National Assembly (NA) that commenced on Monday. According to the report, GDP growth reached 6.98 per cent in the first nine months of 2018 with the year-end figure reaching an estimated 6.7 per cent, higher than the target assigned by the parliament. Import-export turnover reached US$352 billion, well on the way towards $475 billion by year’s end, translating to a growth rate of 11.7 per cent. National … [Read more...] about Việt Nam holds its own against external trade threats, achieves 6.7% GDP growth
Vietnam’s per capita GDP up 17.3 pct in 3 years: PM
In term of purchasing power parity (PPP), the per capita income in 2018 is estimated at $7,640, and expected to rise annually by six percent to reach $8,580 in 2020, the prime minister said. "Many international organizations said that Vietnam has good prospects, and is one of the fastest growing economies in the region and in the world," Phuc noted. Vietnam is likely to achieve GDP growth of 6.7 percent in 2018, he said, adding that despite complex fluctuations in the domestic and global economies, caused in particular by the US-China trade war, as well as financial and currency market risks, Vietnam has managed to pull through 2018 with several positive economic signs. GDP growth reached 6.98 percent between January and September, and foreign direct investment inflows into Vietnam this year will likely reach a record $18 billion, Phuc said. It is expected that inflation will be kept at below 4 percent for the year, the third year in a row that the government has maintained this level, … [Read more...] about Vietnam’s per capita GDP up 17.3 pct in 3 years: PM