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
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
DEPOCEN pinpoints challenges for Vietnam economy
DEPOCEN pinpoints challenges for Vietnam economy Tu Hoang HANOI - Major challenges for Vietnam’s economy are related to how the Government can attract private investment in programs that back socio-economic growth and inflation control, according to the Development and Policies Research Center (DEPOCEN). DEPOCEN said in a February report on Vietnam’s macroeconomic issues that the private sector is of paramount importance to the country’s socio-economic growth given State budget constraints and the fact that Vietnam can no longer get official development assistance loans from international donors from July this year. The report said Vietnam is expected to attain economic growth of 6.3% in 2017 thanks to the Government’s endeavor to ensure macroeconomic stability and further improve the business environment. Inflation is projected at 4.3-4.5% this year. Earlier, the National Assembly approved this year’s economic growth of 6.7%, export expansion of 6-7%, … [Read more...] about DEPOCEN pinpoints challenges for Vietnam economy
Vietnam economy seen facing multiple challenges in 2017
Vietnam economy seen facing multiple challenges in 2017 Van Nam A view of the teleconference between the central and local governments on December 29. Vietnam’s economy would face a slew of challenges in 2017 such as poor weather, rising public debt, bad debts and low competitiveness - PHOTO: CHINHPHU.VN HCMC – Vietnam’s economy would face a slew of challenges in 2017 such as poor weather, rising public debt, bad debts and low competitiveness, heard a teleconference between the central and local governments on December 29. Minister of Finance Dinh Tien Dung told the meeting that the ministry had taken measures to inspect tax payments, fight transfer pricing and collect VND42 trillion (US$1.8 billion) in tax arrears. Budget collections have met the full-year target with revenues of provinces and cities exceeding the estimate by 15%. Dung said there are a number of reasons behind the lower-than-expected gross domestic product (GDP) growth this year. Oil … [Read more...] about Vietnam economy seen facing multiple challenges in 2017
Vietnam economy: risks are down but not out, says ANZ
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