Us nominal gdp growth

Ly Dai Hung from the institute’s Macro-economy and Economic Institution Division said that the world situation is showing positive signs, as COVID-19 vaccines have begun to be introduced in countries such as India, Indonesia, and Switzerland and will be expanded to others throughout the year. The world economy will warm up along with the implementation of various economic support packages, thus promoting Vietnam’s trade and investment activities, he said. Delegates from research institutes discussed measures at the conference to boost post-pandemic economic growth based on innovation and digital transformation. They stressed the importance of renewing policies and institutions to encourage the engagement of the private sector in the process. It is also necessary to quickly carry out a digital transformation strategy in line with new economic stimulus packages, they added./. … [Read more...] about GDP growth to reach 5.49 pct. in normal scenario in 2021: Economics Institute

Viet Nam's economy is likely to experience a strong bounce back in 2021 with GDP growing at 6.9 per cent in the best-case scenario in which the country able to secure significant FDI investment boosts coupled with a strong recovery of the global economy, according to a forecast by the Vietnam Institute of Economics (VIE). … [Read more...] about VN eyes strong recovery from pandemic this year

Hanoi (VNA) – Vietnam has started to emerge as the latest Asian nation with a strengthening position in the region, and a future high potential for economic growth, wrote Murat Ungor, a Senior Lecturer, Department of Economics, University of Otago in his article run by New Zealand’s website asiamediacentre.org.nz on January 18. In the article, the author cited data from the World Bank as saying that the country’s  gross domestic product (GDP) grew by 7 percent in 2019, similar to 2018, one of the fastest growth rates in the region. It is argued that if Vietnam can maintain a 7 percent increase in economic growth over the next decade, the country will follow the same trajectory as the previous "Asian Tigers,”  according to the article. International trade was also progressively liberalised, with the signing of various free trade agreements, it said, adding that the World Bank now considers Vietnam one of the most dynamic emerging … [Read more...] about New Zealand media: Vietnam – the time has come

The ministry has urged ministries and sectors to promptly prepare guiding documents for EVFTA implementation. The government issued Decree 111/2020/ND-CP on Vietnam’s special preferential import and export tariffs in accordance with the EVFTA, for application from 2020-2022; Decree 103/2020/ND-CP on certification of fragrant rice exports to the EU; and Decree 102/2020/ND-CP on ensuring legal timber in Vietnam. Meanwhile, Prime Minister Nguyen Xuan Phuc issued decisions approving EVFTA implementation plans and appointing organizations to chair EVFTA implementation. The Ministry of Industry and Trade issued Circular 11/2020/TT-BCT referring to the origin of goods associated with the EVFTA. … [Read more...] about Efficient EVFTA implementation contributes to economic recovery

Hanoi (VNA) - Vietnam's growth accelerated to 4.5 percent in the last quarter of 2020, resulting in an annual growth rate of 2.9 percent - making it one of the fastest growing economies in the world, according to the World Bank (WB). In the January edition of its monthly Vietnam Macro Monitoring, the bank said the country’s industrial production and retail sales continued to expand solidly, with growth rates close to pre-pandemic levels. December 2020 marked another strong performance of merchandise trade, with double digit growth rate in imports (23.1 percent) and exports (17.8 percent), while FDI inflows slowed. Consumer price index remained flat in December 2020, as food prices stabilised, while consumer demand has yet to fully recover from the crisis. Credit growth picked up slightly after the State Bank of Vietnam cut policy interest rates in October, ending 2020 at 10.1 percent. Auctions and granting of land use and rental improved revenue collection in the last … [Read more...] about Vietnam – one of fastest growing economies: WB