VietNamNet Bridge - ADB (Asian Development Bank) has predicted a 6.8 percent GDP growth rate for Vietnam in 2018, a figure which is much higher than the average growth rate in the region. ADB has predicted a 6.8% GDP growth rate for Vietnam in 2018 The Vietnam economy depends heavily on the world economy which began entering a prosperous period after 10 years of difficulties. The FED’s plan to raise the prime interest rate four times in 2018 would slightly decrease by 0.0075 percentage points Vietnam’s GDP. Huong mentioned the possibility that the Vietnam stock market would be upgraded to an Emerging Market by the end of 2019 or early 2020. RELATED NEWS GDP grows sharply as economy relies on foreign-invested enterprises Vietnam cautious about economic growth for 2018 Mai Thanh … [Read more...] about How will the Vietnam economy be in 2018?
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
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
Which Prospect for Vietnam Economy in 2009-2010 Period? 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. … [Read more...] about Which Prospect for Vietnam Economy in 2009-2010 Period?
Vietnam’s GDP growth of 6.98 percent in the first three quarters came even as many other Asian peers posted slower growth. China’s Q2 GDP grew 6.2 percent, lowest in almost three decades, while India’s Q2 economy expanded 5 percent, a six-year low. However, Vietnam’s exports in the period grew only 8.2 percent, compared to 15.8 percent in the same period last year and 20 percent in 2017. The slower export growth has been attributed to declining agriculture and seafood exports. Agriculture exports in the first three quarters this year has decreased by 6.3 percent year-on-year. Exports to China have fallen because of new quality control regulations. China is no longer "easy" on Vietnamese agriculture produce, said Nguyen Trung Tien, head of the trade statistics department under the GSO. Vietnam’s trade deficit with China, its largest import market, has ballooned by 50 percent year-on-year to $28 billion due to declining exports and increasing imports. … [Read more...] about Slowing exports could prove a drag on Vietnam economy