According to the World Bank’s East Asia and Pacific Economic Update April 2020, Viet Nam is strongly positioned to benefit from numerous free trade agreements that are coming into force over the forecast period. In the first two months, its exports have expanded by 8%, FDI inflows amounted to US$2.5 billion and retail sales were up by 5.4%, the bank said, noting that while prospects remain favorable for the Vietnamese economy in the medium term, GDP growth will be affected negatively by the recent coronavirus outbreak, now a global pandemic. The WB cited preliminary estimates as suggesting that the rate of expansion of the economy could decline to about 4.9% in 2020. Over the medium term, growth is projected to rebound back to 7.5% in 2021 and converge at around 6.5% in 2022, reflecting an improved external demand and a firming of the services sector, as well as a gradual recovery in agricultural production, the WB added. It also suggested Viet Nam manage external risks by … [Read more...] about WB: Vietnam’s economy stays resilient to external shocks
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Citizens are advised to maintain a minimum distance of two meters in social interaction, the prime minister said in a directive on Tuesday, insisting that the government bans any gathering of more than two people outside public offices, schools, hospitals, and in public spaces in general. … [Read more...] about Number of recovered COVID-19 patients hits 60 in Vietnam
The Toyota plant in Vinh Phuc produced 50,114 units last year. The year 2019 also marked a new milestone for the company, with the accumulated production of 500,000 units and the return to assembly of the Fortuner. Toyota lines assembled at the factory include the Vios, Innova, Fortuner and Corolla, which are also its best-selling models. … [Read more...] about Toyota Vietnam suspends production
A Sacombank office in Tây Hồ District, Hà Nội. The bank shares surged 7.0 per cent on Wednesday to lift the benchmark VN-Index up 2.69 per cent. - Photo baodauthau.vn … [Read more...] about VN stocks pick up after officials’ reassurances
When the epidemic is contained, investors’ confidence will return. They will withdraw money from shelter channels and pour money into risky assets. As the dollar will no longer be the shelter, the demand will decrease and the exchange rate will return to normal again. Meanwhile, foreign investors are selling shares in Vietnam. As they are buying dollars in large quantities to transfer money abroad, the dollar price has increased. … [Read more...] about Why has the US dollar price escalated?