Us gdp growth rate by year

Le Thanh Tam, Director of the municipal Department of Planning and Investment, said the growth rate is the second highest among the five centrally-run cities in the country. Specifically, the agro-forestry-fishery sector expanded by 3.28%, industry-construction 11.8% and services 7.62%, contributing 0.4%, 3.56% and 3.95% to the overall growth rate, respectively. The Index of Industrial Production picked up 12.86% year-on-year, while the export turnover of goods and services top 1.1 billion USD, up 15.16%. Total revenues from retails and services were estimated at 55.5 trillion VND (2.39 billion USD), an increase of 21.09%. However, the low disbursement of public investment has affected the growth of some sectors, such as construction with a growth rate of 4.88%. The director said the planning and investment sector will work closely with other sectors to implement tasks to promote economic recovery and development in the remaining months of the year. He said if set plans and … [Read more...] about Can Tho posts three-year high economic growth

Marcel Schröder, Economist, Economic Research and Regional Cooperation Department Asian Development Bank At the beginning of the conflict, the crude oil price breached $130 per barrel in March, the highest since 2008. Since then, it retreated to about $100 in April, before rising again to $120 following the European Union’s partial ban on Russian oil in May. Some worry that the oil price could spike to $200 per barrel in the coming months and how such a shock would impact the economic prospects of Asia’s developing countries. While many institutions, including ours, project a significantly higher oil price in 2022 compared with 2021, these predictions do not foresee $200 per barrel because they attach a low probability of a sudden shock to the global oil supply. A sudden shock is unlikely given the EU’s decision to gradually phase out Russian oil imports by the end of 2022, allowing an orderly transition to alternative supplies and keeping prices stable and affordable for … [Read more...] about Additional oil spike impacts cannot be ruled out

Hue said that the Vietnamese N.A. high-ranking delegation's ongoing official visit to Hungary aims to further promote and deepen the comprehensive partnership between the two countries and cooperation between the two parliaments in particular, opening up new prospects in bilateral relations as well as stronger coordination between the two countries at regional and international forums amid complicated global developments. Highlighting the traditional friendship and all-round partnership between the two countries over the past 70 years, the top legislator clarified that Vietnam always treasures and hopes to further bolster multifaceted ties with Hungary – the first comprehensive partner of Vietnam in Central and Eastern Europe. For his part, László reviewed major milestones of the Hungary-Vietnam Friendship Association’s development since it was established in 1989, and highlighted a number of activities that the association has carried out recently and its plans to promote the … [Read more...] about N.A. Chairman receives Hungary-Vietnam Friendship Association’s leaders

Reciprocating her sentiment, her Vietnamese counterpart Bui Thanh Son welcomed Wong’s choice of Vietnam as her first Southeast Asian destination since taking office last month. He said her visit would strengthen and boost bilateral relations. Wong will conclude her official visit to Vietnam on Tuesday, the Ministry of Foreign Affairs said in a statement. She said Australia has always valued Vietnam's role in the region and that the new government was committed to further strengthening the strategic partnership with Vietnam. The two ministers agreed that it was important the two countries strengthen cooperation in sectors and industries hit hard by the pandemic like tourism, education, and labor cooperation, as well as traditional areas like trade, investment, defense and security. They also agreed that the two countries would expand collaboration in climate change, green growth, and sustainability. Son wanted Australia to continue contributing to regional cooperation with … [Read more...] about Australia values Vietnam’s partnership, regional role: FM

The ministry said it is collecting opinions from other ministries and departments on a draft report on measures to combat Covid-19 in the "new normal" situation for submission to the government. The latest assessment comes more than two months after the PM had asked the health ministry to work on declaring Covid-19 an endemic. The ministry said that from March until now, the number of new Covid-19 cases and deaths has "stably decreased," and the number officially registered with the national database has stayed at fewer than 1,000 cases each day in recent times while the death rate has fallen to 0.06 percent of the total number of infections. Vietnam has covered almost 80 percent of its 96-million population with two vaccine doses; and the group of those from five years old are to receive the second doses within June. Despite this, the ministry said it was not the right time for Vietnam to consider Covid-19 endemic because the novel coronavirus is constantly changing and it is … [Read more...] about Not time yet to declare end of Covid-19: health ministry

Further information regarding the BA.5 cases and their conditions have not been disclosed. According to Lan, the detection of new strains is inevitable as Vietnam has reopened under the new normal. BA.5 was first discovered in South Africa in January. So far, it has become a dominant strain in some countries such as Israel and Germany. Some studies show that BA.4 and BA.5 spread faster than the previous subvariant BA.2, but there has been not enough data on severity rate. Lan said the Ministry of Health will continue to monitor new strains and World Health Organization (WHO) information to adjust Covid-19 prevention measures when necessary. Vietnam has recorded 142,000 Covid cases over the past two months, and the death rate has fallen to 0.06 percent of the total number of infections. Vietnam has covered almost 80 percent of its 96-million population with two vaccine doses, and the group of those from five years old are to receive the second doses within June. The health … [Read more...] about Vietnam detects Omicron’s subvariant BA.5

An ETC station on the Hanoi-Hai Phong Expressway. (Photo: VNA) Hanoi (VNS/VNA) - The Ministry of Transport has asked the Directorate for Roads of Vietnam (DRVN), the Vietnam Expressway Corporation (VEC), the Vietnam Infrastructure Development and Finance Investment Joint Stock Company (VIDIFI), and other service providers to realise the Prime Minister's request on completing automatic non-stop toll collection (ETC). The ministry requested VEC to direct service providers and related units to urgently install and operate the ETC system on highways by July 31. In case of delay, the ministry will handle it according to its competence or report it to authorities for strict handling in accordance with the law, including the suspension of toll collection. The ministry asked DRVN to direct and coordinate with VEC in deploying the ETC system on highways managed by VEC, ensuring the schedule and smooth operation. Meanwhile, VIDIFI was asked to continue piloting the ETC on the … [Read more...] about Automatic toll collection set for all expressways in Vietnam by end of July

Peter Bernhardt, team leader of the ARISE+ Vietnam project Since coming into force in August 2021, the EU - Vietnam Free Trade Agreement (EVFTA) has become an effective tool for boosting trade ties between the EU and Vietnam. What should Vietnam pay attention to in order to benefit more from this deal? I agree that the overall picture of EVFTA performance in this starting period, where exporters and government authorities from both sides have to adapt to the new situation, looks definitely promising. The EVFTA is the most ambitious FTA that the EU has ever signed with a developing country. The deal will mutually lift about 99 per cent of the tariffs within 10 years. Duty was lifted from 65 per cent of EU exports to Vietnam and 71 per cent of Vietnamese exports to the EU, immediately after the EVFTA came into effect. As most Vietnamese exporting products are consumer products, the real challenge Vietnam exporters will face to comply with EU consumer protection regulations is … [Read more...] about EU supporting comprehensive implementation of the EVFTA

Fifteen airlines are expected to operate international flights connecting numerous destinations with Da Nang from now until the end of the year, promising ample opportunities for the promotion and development of local tourism. These airlines will operate international routes from such countries as South Korea, Thailand, Singapore, Japan, and Malaysia, among others, to Da Nang with a total frequency of up to 90 flights per week, Ho Ky Minh, vice-chairman of the municipal People’s Committee, said on Monday. The Vietnamese coastal city recently collaborated with budget carrier Vietjet Air in opening five air routes to major cities in India and Singapore. In the first six months of this year, Da Nang has welcomed 286 international flights carrying 35,000 passengers, according to vice-chairman Minh. On June 24, the city received a record of 120 domestic and international flights, the official added. The local tourism sector has had a positive and breakthrough recovery with a … [Read more...] about 15 airlines to operate more intl’ flights to, from Vietnam’s Da Nang

A view of the first Wink Hotel in HCM City. The developer will complete its goal of building 20 Wink hotels across the country within the next 5-7 years. — Photo courtesy of the firm Despite the negative impact of the COVID-19 pandemic that paralysed the tourism industry, project developer Indochina Kajima persisted in its goal of building 20 Wink Hotels across the country. Michael Piro, CEO of Wink Hotels, said that after the first Wink hotel with 237 rooms opened in HCM City early last year, the second hotel is expected to open in November this year in the central Da Nang City with 243 rooms. There will be another Wink hotel expected to welcome visitors next summer in this coastal city. In Ha Noi, two hotels will be built on Thuy Khue and Pham Hung streets as well as others in Phu Yen, Can Tho and Hai Phong. Piro said that at the current rate of development, Indochina Kajima would complete its goal of building 20 Wink hotels across the country within the next 5-7 years, … [Read more...] about Wink Hotels holds ambition to create a revolution in the hotel industry