Gdp

The National Assembly (NA) are targeting a gross domestic product (GDP) growth for 2020 of 6.8%, according to the government’s draft resolution on the nation’s socio-economic development plan. The NA also aimed for CPI growth of below 4% for 2020. Meanwhile, export turnover growth for 2020 was set at 7% and the percentage of trade deficit over export turnover of under 3%. Other targets approved by the NA include the percentage of trained labour of 65%; the percentage of the population with health insurance of 90.7% and the rate of forest area at 42%. … [Read more...] about Vietnam GDP growth target 6.8% next year

National Assembly deputies voted on the adoption of the Resolution on Socio-economic Development Plan for 2020 on Monday morning in Hà Nội. — VNA/VNS Photo Lâm Khánh HÀ NỘI — The National Assembly (NA) this morning approved the Resolution on socio-economic development plan for the year 2020, targeting 6.8 per cent GDP growth and improvements to national competitiveness. A total of 430 legislators took part in the vote during the ongoing 8th session of the 14th NA tenure, with 426 in favour of the resolution, or 88.2 per cent approval, with two against and two abstaining. Vũ Hồng Thanh, Chair of NA Committee of Economic Affairs, said that many have called for revisions of targeted GDP growth to “upwards of 6.8 per cent” or “within 6.7 to 6.8 per cent” in the resolution but the NA Standing Committee, the top body in the Vietnamese parliament, didn’t agree. The 6.8 per cent GDP growth is a reasonable … [Read more...] about NA adopts socio-economic resolution for 2020, targeting 6.8% GDP growth

At the eighth session of the 14th National Assembly (Photo: VNA) Hanoi (VNA) – The National Assembly voted to pass a resolution on the socio-economic development plan for 2020 during the ongoing eighth session in Hanoi on November 11. The resolution, adopted with 88.2 percent of approval votes, sets out some specific targets. For example, the gross domestic product (GDP) is set to increase by about 6.8 percent, while the consumer price index (CPI) is kept at below 4 percent. The total export turnover is expected to increase by 7 percent, whilst the total amount of social development investment capital will make up about 33-34 percent of the GDP. The rate of poor households is set to reduce by 1-1.5 percent. The unemployment rate in urban areas is below 4 percent. Up to 90.7 percent of the population will join health insurance. General targets are set under the resolution such as stabilising macro-economy; curbing inflation; increasing productivity, quality, efficiency, … [Read more...] about NA adopts resolution on socio-economic development plan 2020

E-commerce firms not only are spending big money to run marketing campaigns to lure more customers, but are also expanding their warehouse networks and logistics services. Giao Hang Nhanh (GHN) has put an automatic goods classification system into operation at its Long Bien warehouse in Hanoi which can classify 30,000 items an hour. In the past, when the classification was done manually, it took GHN three hours to classify goods, while it now takes 30 minutes only. BW Industrial, which has an industrial land fund of 230 hectares in Vietnam, announced strategic cooperation with Shopee and BEST Inc. The storehouse in HCMC is the third order of Shopee and the first automatic storehouse of BEST Inc in Vietnam. BEST Inc is a Chinese smart logistics service provider in China which has been taken over by Alibaba. It handles 20 million delivery orders each day, and the figure is expected to hit 30 million later this year. With the two products, BW Industrial hopes to create a new … [Read more...] about E-commerce logistics war looms in Vietnam

By increasing processed and high-tech products and taking advantage of free trade agreements, Vietnam’s goods are being increasingly chosen by consumers in the world market. The Ministry of Industry and trade (MOIT) reported that raw exports are on the decrease, while processed and hi-tech industrial products are on the rise, especially farm produce, phones and electronic components. By the end of April 2019, phone and electronic export turnover had reached $16.01 billion, of which the exports to the EU alone brought $.438 billion. Meanwhile, Vietnam earned $3.32 billion from the US market, an increase of 94.4 percent, and $1.67 billion from South Korea, an incraese of 8.1 percent compared with the same period last year. As for textiles and garments, the export value in the first four months of the year was $9.46 billion, increasing by 10.2 percent. According to the General Department of Customs (GDC), the US remains the biggest textile and garment importer, consuming $4.42 … [Read more...] about Vietnam’s exports see more opportunities in world market