Growth

Shipping containers are seen at a port in Hai Phong city, Vietnam July 12, 2018. Photo by Reuters/Kham. The Trade20 Index recently released by British lender Standard Chartered Bank ranks 20 economies out of the 66 based on 12 metrics across three pillars: economic dynamism, trade readiness and export diversity. The economic dynamism pillar was measured by inward foreign direct investments (FDI), export volume growth and GDP growth. Trade readiness refers to the market’s foundations to support future trade growth, and was measured by factors such as the quality of trade and transport infrastructure and ease of doing business, while export diversity was measured by export count. Vietnam showed the strongest progress in trade growth potential of all Southeast Asian markets, driven by improvements to its trade readiness and economic dynamism. Its improving strength in trade readiness is due to infrastructure enhancements and improvements to its ease of doing business score, … [Read more...] about Vietnam sixth in world’s trade growth potential ranking list: Standard Chartered

The export of tuna to the EU fell by 6.3 per cent to nearly US$92 million in the reviewed period. Despite this, exports to the Italian and Spanish markets have risen as the both European nations now represent the two largest import markets of Vietnamese tuna within the EU bloc. Meanwhile, tuna exports to the Netherlands suffered a drop of 11.5 percent to close to US$15 million in the first eight months of the year. Aside from a decline in exports to the EU, Israel, and China, tuna exports to Canada also showed signs of decline during August. In spite of Vietnam’s tuna exports to the ASEAN bloc growing during August, this growth was not enough to compensate for the fall in previous months. As a result, the tuna export value during the first eight months of the year dipped 0.9 per cent to only US$33 million. Currently, the country's fresh, frozen, and dried tuna exports to the ASEAN market have experienced an upward trend, while canned tuna exports to the regional grouping have … [Read more...] about Tuna exports endure sluggish growth

VNA/VNS Photo The gain was slower than last year when credit rose 9.52 per cent. Capital mobilised by banks was also moderate, rising by 8.68 per cent compared with 9.15 per cent during the same period last year. Interest rates remained relatively stable, with the rate of mainly medium- and long-term deposits inching up at some banks that needed capital to meet the central bank’s adequacy ratio regulations. Interest rates for one-to-six month deposits stood at 4.5-5.5 per cent per year, 5.5-6.8 per cent per year for six-to-12 month deposits, and 6.6-7.5 per cent for 13 months and upwards. Meanwhile, lending rates averaged 6 to 9 per cent per year for short-term loans and 9 to 11 per cent per year for medium- and long-term loans. In the first nine months, banks largely met credit demands in the investment, production and business sectors. Notably, banks continued focusing on manufacturing, business borrowers and prioritised … [Read more...] about Credit growth expands 8.4 per cent

The Bank of Thailand feels upbeat about the country's economic growth in Q3. (Photo: bangkokpost.com) Bangkok (VNA) – Thailand’s economic growth in the third quarter is likely to improve from the second quarter’s reading, mainly thanks to positive tourism growth and the government’s economic stimulus measures, according to the Bank of Thailand. Senior Director at the BoT’s macroeconomic and monetary policy department Don Nakornthab said GDP growth in the third quarter is expected to surpass 2.3 percent, which was recorded in the second quarter, and the economic expansion was supported by the government’s stimulus package, growth in the tourism sector and exports. Thailand’s economy grew at the slowest pace in almost five years in the second quarter as exports and tourism deteriorated, buffeted by the US-China trade tensions and the strong Thai baht. GDP rose 2.3 percent from a year ago, down from 2.8 percent in the first quarter, the … [Read more...] about Bank of Thailand upbeat about economic growth in Q3

Illustrative image (Source: VNA) Hanoi (VNA) – Vietnam’s credit growth has expanded by 8.4 percent from the end of 2018 so far this year, the General Statistics Office (GSO) has reported. The gain was slower than last year's figure when credit rose 9.52 percent. Capital mobilised by banks was also moderate, rising by 8.68 percent compared with 9.15 percent during the same period last year. Interest rates remained relatively stable, with the rate of mainly medium- and long-term deposits inching up at some banks that needed capital to meet the central bank’s adequacy ratio regulations. Interest rates for one-to-six month deposits stood at 4.5-5.5 percent per year, 5.5-6.8 percent per year for six-to-12 month deposits, and 6.6-7.5 percent for 13 months and upwards. Meanwhile, lending rates averaged 6 to 9 percent per year for short-term loans and 9 to 11 percent per year for medium- and long-term loans. In the first … [Read more...] about Vietnam’s credit growth expands 8.4 percent