Earlier in April 2018, the bank forecasted Vietnam’s economy to grow by 6.5 percent this year. According to the bank’s latest report, growth in the East Asia and Pacific region is expected to remain solid, slowing marginally to 6.3 percent in 2018 and to an average of 6.1 percent in 2019-2020. Conditions are mostly favourable for the region in 2018, with robust global trade, moderate borrowing costs and sustained capital inflows. Private consumption continues to be supported by solid consumer confidence and rising household wealth, amid mild inflation. Regional financial markets have remained buoyant, despite volatility in early and mid-2018 related to the prospects of monetary policy tightening in advanced economies and escalating trade tensions. Bond spreads in some countries have increased, following volatility in stock markets, but remain close to low levels of 2017. Domestic monetary conditions have tightened somewhat and prudential policies … [Read more...] about WB: Vietnam’s economy to grow by 6.8 percent in 2018
Vietnam economy 2017
Chronic shortcomings in Vietnam economy yet to be tackled
Chronic shortcomings in Vietnam economy yet to be tackledThuy Dung One of current problems is the increasing number of complaints about land use and management policies - PHOTO: DINH DUNG HANOI – Despite positive results in socio-economic development, National Assembly (NA) deputies have pointed out chronic shortcomings in the local economy, especially those related to land, regulations, capital disbursement and business conditions, which must be remedied if the economy is to sustain growth. Such issues were tabled at a NA meeting on May 25 on the nation’s socio-economic performance and the State budget-related problems last year and in the first months of this year. Deputy Vu Tien Loc from the northern province of Thai Binh nevertheless said the country has kept public debts from rising and replenished the State budget by using one-off revenues from public land and asset sales, and sales of stakes in State-owned enterprises. When these sources dry up, the Ministry … [Read more...] about Chronic shortcomings in Vietnam economy yet to be tackled
FDI sector significantly contributes to Vietnam’s economy
A phone charging cable production line of the KSD Vina Co. Ltd, invested by the Republic of Korea, in Thai Nguyen province (Photo: VNA) Hanoi (VNA) – The foreign direct investment (FDI) sector has become an important part in Vietnam’s economy, with remarkable contributions to the country’s socio-economic development. As of April 2018, Vietnam had attracted 25,524 FDI projects with total registered capital of more than 320 billion USD from 126 countries and territories across the world, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. Minister of Planning and Investment Nguyen Chi Dung said the FDI sector contributes about 25 percent to social investment capital and 20 percent to the gross domestic product (GDP). Close to 58 percent of total FDI capital has went to the processing and manufacturing industries, helping Vietnam increase the value of products and create a shift in domestic economic sectors in a more … [Read more...] about FDI sector significantly contributes to Vietnam’s economy
Vietnam economy seen expanding 6.83% in 2018
Vietnam economy seen expanding 6.83% in 2018The Saigon Times Daily Discounted travel bags are on sale at a booth of a local company at a trade fair. Inflation in quarter one rose slightly compared with previous quarters, largely influenced by upward adjustments of public services fees such as healthcare and education - PHOTO: THANH HOA HCMC – Vietnam’s gross domestic product (GDP) growth is forecast to reach 6.83% this year, the Vietnam Institute for Economic and Policy Research (VEPR) is quoted by news website Nguoi Dong Hanh as saying. Given the strong growth of 7.38% in quarter one, VEPR says the 2018 growth target of 6.5-6.7% approved by the National Assembly (NA) could be achievable thanks to a host of favorable conditions. However, there remain uncertainties such as growing protectionism in global trade and a possible trade war between the United States and China, the world’s two biggest economies. VEPR expects the 2018 growth model will be different … [Read more...] about Vietnam economy seen expanding 6.83% in 2018
Vietnam economy grows at best rate in a decade
Vietnam's economy saw its strongest first-quarter growth in a decade, data showed on Thursday (Mar 29), driven by a surge in electronics manufacturing and exports. While agriculture and wholesale and retail trade have seen steady rises, manufacturing remains a the pillar of Vietnam's growth. (Photo: AFP/Hoang Dinh Nam) The reading comes as the communist country is poised to expand its overseas markets after signing an 11-nation Asia-Pacific trade deal this month that replaces the Trans-Pacific Partnership (TPP), scrapped by the US last year. Observers said a spike in exports was a promising sign that Vietnam's market has not been dented by US President Donald Trump's protectionist agenda. The 7.38 per cent GDP expansion in January-March was sharply up from the rate of just over five per cent seen in the same period last year, according to the Government Statistics Office, and well above the government's annual target of 6.7 per cent. The figures are the best since a 7.40 per … [Read more...] about Vietnam economy grows at best rate in a decade