WB: Vietnam economy grows amid fiscal risks Tu Hoang By Tu Hoang - The Saigon Times Daily HANOI - Vietnam’s expected economic growth of 6.5% this year is a good performance though it is facing fiscal risks, the World Bank (WB) said in its report released on December 2 on the country’s recent economic developments. Victoria Kwakwa, WB Country Director for Vietnam, said the medium-term economic growth outlook for Vietnam is underpinned by stronger domestic demand, robust exports, low inflation and improved confidence. “This is a good time to solidify macroeconomic stability and rebuild policy buffers including through decisive efforts to rein in fiscal imbalances and tackle remaining vulnerabilities in the banking sector,” Kwakwa said in a statement. The report titled Taking Stock: An Update on Vietnam’s Recent Economic Developments said despite the positive outlook, risks abound. With limited policy buffers, external and domestic shocks could … [Read more...] about WB: Vietnam economy grows amid fiscal risks
More PE investors upbeat about Vietnam economy Binh Nguyen By Binh Nguyen - The Saigon Times Daily HCMC - More private equity (PE) investors are optimistic about Vietnam’s outlook over the next 12 months given improvements in economic growth and stable macro-economic factors in this market, according to Grant Thornton Vietnam. The 11th bi-annual PE report by the firm for the second quarter of 2014, also known as the Q2-2014 report, showed nearly 48% of PE investors have a positive outlook for Vietnam’s economy over the next 12 months compared to 43% in the fourth quarter of last year (the Q4-2013). “This continues the trend of increasing in investor confidence in Vietnam’s economy over the previous few quarters,” the company said and added the report’s findings are based on the opinions of economic and business decision makers and individuals in Vietnam and the region, who have “a significant focus on Vietnam’s economy.” Ken … [Read more...] about More PE investors upbeat about Vietnam economy
Hanoi Times - Will Vietnam economy which known as an "emerging economy", "new star" continue to tell its miraculous story as in the past years? In these days, there comes bad news from the economy. In the domestic market, inflation and gold price are on the rise. In contrast, the economic growth and stock market plunge. Besides, the world market is being staggered by the American financial crisis and the increasing prices of food and crude oil. All these have portrayed an overall and vivid picture of the economy. In fact, the difficulties facing Vietnamese economy in the first 4 months can be understandable when Vietnam intensively integrates into the regional and international market. Moreover, it is also a good chance for us to restructure the ineffective economic sectors which are not competent enough to compete in both domestic and international markets. Regarding the reasons of economic turmoil in the first 4 months of 2008, the Party's Politburo put the blame on the … [Read more...] about A contemplation of Vietnam economy in “price storm”
How is the Vietnam economy in the 2009-2010 period? What are the economy's impacts on local firms? These were questions discussed at a conference entitled "Prospect of Vietnamese economy and challenges faced by local businesses between 2009 and 2010" recently held by Business Forum Newspaper under the Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam Institute of Economics in Hanoi. Impacts Dr. Dang Xuan Thanh from the Institute of World Economics and Politics, said the world economic crisis have lasted 18 months and seriously influenced Vietnamese economy in medium and long term. The country has seen a sharp fall in economic growth, export turnover, foreign direct investment, tourist number and revenues and labor export. He added that, in the long run, Vietnam may cope with high risks of inflation, a low FDI inflow, slow recovery of global trade tiers and more fierce trade competition. According to Dr. Vo Tri Thanh, Deputy Head of Central Institute for Economic … [Read more...] about Which Prospect for Vietnam Economy in 2009-2010 Period?
StanChart says Vietnam economy on solid recovery track By Thanh Trung - The Saigon Times Daily HANOI - Vietnam has weathered the global economic crisis relatively well with the assistance of proactive fiscal measures and resilient domestic demand, according to Standard Chartered Bank. The country's latest GDP growth data, for the third quarter of 2009, show that its economy is on a solid recovery track although the export sector remains sluggish, says the bank's latest report on Vietnam's economy. Tai Hui, StanChart regional head of research in South East Asia, said, "We have revised up our growth forecasts to 4.9% from 4.2% for 2009 to reflect this better-than-expected performance." Vietnam's GDP growth for 2010, the economist predicted, will be 6.7% instead of 5.0% as earlier forecast by the bank. For 2011, the rate has also been revised up to 7.2% from the previous 6.0%. The report, however, warns of new challenges that the country will be facing. The bank has revised its inflation … [Read more...] about StanChart says Vietnam economy on solid recovery track