The latter half of the year is set for a substantial rebound, riding on the back of Q2's initial recovery signs. The bank's outlook for 2023 remains steady, with a GDP growth estimate of 5.4 per cent. Standard Chartered anticipates September’s figures to marginally outpace those of August, predominantly buoyed by retail sales. The forecast details an impressive 8.2 per cent annual growth in September's retail sales, though exports might dip by 6.2 per cent. Imports are slated to shrink by 7 per cent, while industrial production growth could see a surge to 3.2 per cent. Furthermore, the trade surplus might slim down to a mere $1.3 billion. The inflation index is set to tick up to 3.2 per cent on-year from August's 3 per cent, steered primarily by the education, housing, and food sectors. Conversely, transport-led inflation appears to be subsiding. In the tourism front, Vietnam welcomed approximately 7.8 million international travellers in 2023's initial eight months, closely … [Read more...] about Vietnam’s Q3 GDP poised for growth, Standard Chartered reports
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Mekong Delta provinces step up efforts to combat illegal fishing
Mekong Delta provinces have stepped up efforts in the fight against IUU fishing. (Photo: VNA) Kien Giang (VNA) – Mekong Delta provinces have intensified their efforts to prevent illegal, unreported and unregulated (IUU) fishing in a bid to have the European Commission (EC)’s “yellow card” warning against Vietnamese seafood lifted. Kien Giang province reported no fishing boats violating foreign waters in recent months, according to the provincial steering board for IUU fishing prevention and control. The result was attributed to the local authorities’ application of drastic and synchronous measures against IUU fishing, with a wide range of inspections and enhanced communications work to raise local fishermen’s awareness of current regulations on IUU fishing prevention put in place, said Deputy Director of the provincial Department of Agriculture and Rural Development Quang Trong Thao, who is also deputy head of the steering board. To date, the vessel monitoring system … [Read more...] about Mekong Delta provinces step up efforts to combat illegal fishing