Vietnam economy: risks are down but not out, says ANZ By Phuong Thao - The Saigon Times Daily HCMC - Vietnam has been spared the worst of the global financial crisis and two main risks facing the country in 2008, sharply rising inflation and a burgeoning trade deficit, have receded, Australia and New Zealand Banking Group, or ANZ, said in a just-released report. ANZ said that Vietnam's GDP growth, fell to a record low of 3.1% compared to 8% to 9% pace of late 2006 and 2007, had likely bottomed. This assessment reflects the apparent stabilization of global trade and manufacturing as well as effects of the Government's economic stimulus packages. The bank predicted Vietnam's GDP growth rate this year at 4.5%, "the lowest outturn since the late 1980s, but near the haed of the pack in emerging Asia." "Looking further ahead, we do not see a quick return to the go-go days of 2006 or 2007," the bank said, and noted that the underlying speed limit problem has yet to be addressed. "We would … [Read more...] about Vietnam economy: risks are down but not out, says ANZ
Vietnam economy growth
ADB projects Vietnam economic growth at 6.7%
ADB projects Vietnam economic growth at 6.7% Tu Hoang By Tu Hoang - The Saigon Times Daily HANOI - The Asian Development Bank (ADB) has forecast that Vietnam’s economy would expand 6.7% this year before slowing to 6.5% next year. The growth projections were announced by ADB country director for Vietnam Eric Sidgwick at the launch in Hanoi on March 30 of the Asian Development Outlook 2016 report. ADB said Vietnam’s economy would remain stable in 2016 with growth of 6.7% followed by a modest slowing of growth to 6.5% in 2017. The forecast is in contrast to that of the Economist Intelligence Unit, which predicted earlier that Vietnam would attain gross domestic product (GDP) growth of 6.8% this year and 6.9% in 2017. Vietnam’s economy grew 6.68% in 2015, the highest in eight years. Speaking at a cabinet meeting in February, Prime Minister Nguyen Tan Dung urged ministries and government agencies to do whatever it takes to achieve growth of 7% this year, instead of … [Read more...] about ADB projects Vietnam economic growth at 6.7%
Enormous Room for Vietnam Logistics Growth
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Enormous Room for Vietnam Logistics Growth “There is still enormous room for Vietnam logistics growth” was the statement of Mr Vo Tan Thanh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) and Director of VCCI - HCM, at the Conference “Logistics and Supply Chain: How Vietnamese companies can enhance their competitiveness in the integration context” held by VCCI - HCM. According to Mr Thanh, by becoming a member of the ASEAN Economic Community (AEC) and participating in numerous free trade agreements of the new generation such as: the Trans-Pacific Partnership Agreement (TPP), the Vietnam-EU Free Trade Agreement (EVFTA), Vietnam was on the way to become a processing centre of the world; trade volume in ports enjoyed sustainable increase (reached 427 million tonnes and 12 million TEU in 2015, exceeding expectations), creating a fertile market for logistics. Moreover, Vietnamese businesses were now under restructuring to strengthen … [Read more...] about Enormous Room for Vietnam Logistics Growth
IMF: Vietnam economy has been stable
(VOVworld) - The International Monetary Fund (IMF) said last week that Vietnam's macro economy has been stable for the last year, but risks may surface next month. According to the IMF, Vietnamese exporters have seen encouraging signs, especially foreign invested enterprises, but domestic companies have not yet improved their situation despite a better environment. The same day, the Wall Street Journal published an article with similar observations, pointing out that Vietnam has recently overcome many of its economic problems while other emerging economies in the region are still struggling because of the faltering Chinese economy. Vietnam's GDP grew 5% in the 2nd quarter, 0.2% more than in the same period last year. Economists predict that Vietnam's growth rate will reach 5.5% this year, compared to 5.03% last year. … [Read more...] about IMF: Vietnam economy has been stable
Vietnam economy to be stable
(VOVworld) - The International Monetary Fund (IMF) said last week that Vietnam's macro economy has been stable for the last year, but risks may surface next month. According to the IMF, Vietnamese exporters have seen encouraging signs, especially foreign invested enterprises, but domestic companies have not yet improved their situation despite a better environment. The same day, the Wall Street Journal published an article with similar observations, pointing out that Vietnam has recently overcome many of its economic problems while other emerging economies in the region are still struggling because of the faltering Chinese economy. Vietnam's GDP grew 5% in the 2nd quarter, 0.2% more than in the same period last year. Economists predict that Vietnam's growth rate will reach 5.5% this year, compared to 5.03% last year. … [Read more...] about Vietnam economy to be stable