The Hanoitimes - But the potential negative impact of trade tensions on global growth would be more detrimental for Vietnam. Vietnam is keeping its stride, topping the major ASEAN economies with expected GDP growth rate of 6.7% in 2018. But external headwinds pose downside risks for the coming quarters, HSBC stated in its latest report. The country outperformed most of its regional peers in the third quarter of 2018 with GDP growth of 6.8% year-on-year, according to HSBC. The manufacturing sector steadied from the previous quarter despite a cyclical slowdown in electronics trade and rising trade tensions globally. Meanwhile, the services sector continues to outperform due to declining unemployment, rising wages, and expansion of the tourism industry. Vietnam is particularly vulnerable to trade risks given its reliance on exports and manufacturing. As such, rising trade tensions globally are likely to impact Vietnam more significantly than other economies. But the imposition … [Read more...] about Vietnam tops major ASEAN economies in 2018: HSBC
Public banks vs private banks
Thao lives in Tan An, the capital of the Mekong Delta’s Long An province, 37 km from the proposed construction site of Long An-I, a 1,320 MW coal-fired power plant to be completed around 2020 and put into use in 2024.Though he has never lived near thermal power plants, he reads online articles about their environmental impact and is familiar with recent headline-making environmental disasters, including pollution from the Vinh Tan power plant in south-central Binh Thuan province. Like 15,166 others, Thao signed up with Stop Long An, an electronic petition on wakeitup.net started by an anonymous group of climate activists intent upon preventing the execution of the project and its 1,600 MW follow-up, Long An-II.He also worried about the effects of the plant’s toxic discharges on the surrounding land and water system, citing heavy metal poisoning and its impact on the food chain as his main concern. “It will destroy the rivers that serve as our source of water and … [Read more...] about Higlighting the downside of thermal power
In 2016 and the first half of 2017, Vietnam has seen a series of multimillion dollar mergers and acquisitions (M&A) deals. Here is the list of Vietnam’s top merger and acquisition deals (The List 50) announced at this morning press conference organised by VIR and AVM Vietnam. Outstanding merger deals 1. TTC and Bien Hoa Sugar Thanh Thanh Cong Tay Ninh Sugar JSC (TTCS) will make a share swap to fully acquire Bien Hoa Sugar Joint Stock Company (JSC) in order to become the biggest sugar producer in Vietnam. TTCS will issue nearly 304 million shares to convert all outstanding shares of Bien Hoa Sugar at a ratio of 1:1.02. The conversion ratio was calculated by a third-party company that valued the shares of TTCS and Bien Hoa Sugar at VND20,944 ($0.92) and VND21,356 ($0.94), respectively. The deal will be carried out within 90 days (plus extensions if needed), starting from the day TTCS receives the permit from the … [Read more...] about List of the largest M&A deals in Vietnam in 2016-2017
VietNamNet Bridge - Economists have urged the government to reconsider the role of consumption and select it as the springboard to promote economic growth in the future. Three decades have elapsed since doi moi (renovation) kicked off in 1986. Vietnam has been developing its economy based on three important pillars – import/export, infrastructure development and consumption. Of the three pillars, consumers once played a key role in the national economy’s growth, which made up 84.3 percent of GDP in 1990, according to the World Bank. Nguyen Xuan Thanh, director of the Public Policy Program belonging to Fulbright University, said that Vietnam has long been a consumer-aided economy. Though the role of consumers has gradually weakened over time under the impact of increases in investment and import/export, the proportion that household consumption contributes to Vietnam’s GDP has been high, 65.1 percent in 2015.Of the three pillars, consumers once played a key role in … [Read more...] about Will a focus on consumption serve as the economic springboard for Vietnam?