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
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
Experts warn of challenges to Vietnam economy despite good prospects
At a recent workshop on prospects for the Vietnamese economy in 2018 and to 2020, Minister of Planning and Investment Nguyen Chi Dung said the country will benefit from the recovery of the world economy this year and there are many reasons to be optimistic about domestic economic growth from now to 2020. Participants at the workshop The advisory group to the Prime Minister on economic affairs said economic development in the recent past was driven by reform efforts with drastic measures, which improved the business and investment environment, along with flexible and coordinated macro-economic policies and the effect of new policies such as developing the private sector. The group devised three scenarios for Vietnam’s economic growth in 2018-2020, which envision annual average GDP growth rate at 6.7 percent, 6.83 percent and 7.47 percent, respectively. The group also proposed the target of an average annual growth of 6.85 percent for the next three years (2018 to … [Read more...] about Experts warn of challenges to Vietnam economy despite good prospects
Japan capital stimulates Vietnam economy
Japan capital stimulates Vietnam economyTrung Chanh Delegates at the “Meeting Japan-Mekong Delta” conference in Can Tho City on April 18 - PHOTO: TRUNG CHANH CAN THO – Grants and official development assistance (ODA) loans of the Japanese Government have played a crucial role in fueling Vietnam’s economic development, especially in the Mekong Delta, heard a conference in Can Tho City on April 18. At the conference “Meeting Japan-the Mekong Delta,” Luu Quang Khanh, director of the Foreign Economic Relations Department under the Ministry of Planning and Investment, expressed appreciation of Japan’s support for the Mekong Delta and Vietnam as a whole. The Japanese Government has offered Vietnam grants totaling US$1.6 billion for healthcare, customs, agriculture and rural development projects, with Bach Mai Hospital, Hue Central Hospital and fresh water supply projects among the beneficiaries. Japan has also pledged to provide Vietnam … [Read more...] about Japan capital stimulates Vietnam 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