The Hanoitimes - World Bank (WB) Country Director for Vietnam Ousmane Dione appreciated what Vietnam has achieved in the context of global challenges. Many experts have forecast the Vietnamese economy will enlarge by 7%, and with drastic reforms taken, the growth will reach 7.06%. The National Center for Socio-economic Information and Forecast (NCIF) has released two growth scenarios for 2019 and 2020. Accordingly, Vietnam's economy may grow by 6.84%-7.02% in 2019 and 7%-7.2% in 2020. The NCIF's report shows that the economic growth in the period of 2016 - 2018 is on the rebound, but improving the quality of growth has not met the target. Labor productivity has improved but still falls short of expectation. The business environment has improved but its impacts have not been widespread. Public debt has declined, but foreign debt and debt servicing are tending to approach the safety limits. Head of Analysis and Forecasting Department (under NCIF) Dang Duc Anh said that there … [Read more...] about Vietnam economy forecast to grow by more than 7% in 2019
Vietnam economy growth
Vietnam economy is forecast to grow by more than 7% in 2019
The Hanoitimes - World Bank (WB) Country Director for Vietnam Ousmane Dione appreciated what Vietnam has achieved in the context of global challenges. Many experts have forecast the Vietnamese economy will enlarge by 7%, and with drastic reforms taken, the growth will reach 7.06%. The National Center for Socio-economic Information and Forecast (NCIF) has released two growth scenarios for 2019 and 2020. Accordingly, Vietnam's economy may grow by 6.84%-7.02% in 2019 and 7%-7.2% in 2020. The NCIF's report shows that the economic growth in the period of 2016 - 2018 is on the rebound, but improving the quality of growth has not met the target. Labor productivity has improved but still falls short of expectation. The business environment has improved but its impacts have not been widespread. Public debt has declined, but foreign debt and debt servicing are tending to approach the safety limits. Head of Analysis and Forecasting Department (under NCIF) Dang Duc Anh said that there … [Read more...] about Vietnam economy is forecast to grow by more than 7% in 2019
Standard Chartered Bank says Vietnam economy to grow faster than expected
By Dang Khoa  July 19, 2018 | 02:36 pm GMT+7 A woman works at Xuan Hoa furniture factory in Xuan Hoa town, outside Hanoi, Vietnam April 5, 2018. Photo by Reuters/Kham GDP to grow by 7 percent this year and not 6.8 percent as forecast earlier. Standard Chartered Bank’s Global Focus report on the economy for the third quarter said manufacturing and construction will be the fastest growing sectors this year. FDI inflows will remain strong, with 50 percent coming into manufacturing, it said. Vietnam received an estimated $16.2 billion in FDI in the first half of this year, down 4.4 percent from the same period last year, according to the General Statistics Office (GSO). "We are positive on Vietnam’s growth medium-term on strong manufacturing activity as FDI inflows to manufacturing remain strong. We believe that Vietnam will remain one of the fastest growing economies in Asia in 2018,” Asia Economist for Standard Chartered … [Read more...] about Standard Chartered Bank says Vietnam economy to grow faster than expected
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
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