Vietnam among markets driving future trade growth: Standard Chartered A recent research by Standard Chartered has listed Vietnam among the 13 markets driving future trade growth, and with its enhanced integration into the global economy, the country is holding numerous advantages for bolstering export. In its research, titled “Future of Trade 2030: Trend and markets to watch”, the bank forecast Vietnam will record an average annual exports growth rate of 7 percent to earn 535 billion USD in revenue in 2030. Notably, up to 41 percent of the global firms surveyed by Standard Chartered are operating in Vietnam or planning to invest in the country in the next five to 10 years. The US and China will remain the largest export markets of Vietnam, respectively accounting for 26 percent and 19 percent of the Southeast Asian country’s total exports by 2030. Meanwhile, shipments to India are also projected to grow fast, by 11 percent annually between 2020 and 2030. With …
Indonesia projected to grow 4.7-5.5 percent in 2022
A Bank Indonesia logo is displayed on a gate in Jakarta (Photo: AFP) Jakarta (VNA) – Bank Indonesia (BI) said it expects Indonesia’s gross domestic product ( GDP ) to increase by between 4.7 and 5.5 percent in 2022, higher than the previous forecast of 3,2-4 percent. The bank forecast the economy will recover from the COVID-19 pandemic next year, supported by a rebound in both domestic demand and global economic activity. As quoted by The Jakarta Post, BI Governor Perry Warjiyo said in his annual speech that “Strong policy synergy and economic performance in 2021 will be our capital to further rebound and be optimistic about a better economic recovery for Indonesia in 2022.” He said the national vaccination campaign against COVID-19, the reopening of the economy, and stimulus measures have played a key role in accelerating the country's recovery. According to Our World in Data (OWID), as of November 22, the number of Indonesians who had received at least one …
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VIETNAM BUSINESS NEWS NOVEMBER 29
Online Friday 2021 to open on December 3 The Vietnam E-Commerce and Digital Economy Agency under the Ministry of Industry and Trade (MoIT) on November 26 announced an e-commerce week and the Vietnam Online Shopping Day – Online Friday 2021. The Online Shopping Week will be held from November 27 to December 5 while the Vietnam Online Shopping Day – Online Friday 2021 is scheduled for December 3 nationwide. Vietnam will work toward incorporating its Online Shopping Day with the online shopping event in the region to catch up with trans-border e-commerce trend as well as step up cashless payment, thus laying a foundation for authorities to suggest policies in support of enterprises in promotional activities. Consumers across the country could visit the website https://onlinefriday.vn and Online Friday app to acquire information about discounts and promotion programmes by participating firms and shop at websites and apps of others. The online shopping day was started in 2014./. …
VIETNAM BUSINESS NEWS NOVEMBER 28
November CPI up 0.32 percent The Consumer Price Index (CPI) in November was up by 0.32 percent compared to October, according to the General Statistics Office (GSO). It was driven by the hikes of prices of petrol and gas across the globe, as well as consumer goods and services in localities in the new normal. Among 11 groups of main commodities and services, nine experienced rising prices. In the first 11 months, the CPI went up 1.84 percent compared to the same period last year, the lowest level since 2016, attributed to the fuel price hikes by 30.32 percent year-on-year, after 20 adjustments. Housing and construction materials posted a year-on-year expansion of 6.8 percent and education grew 2.44 percent. Meanwhile, foodstuff inched down 0.52 percent and electricity prices dropped 1.06 percent against the same period last year. As COVID-19 prompted travel restrictions, air ticket prices fell 21.39 percent while travel package slipped 2.42 percent. Core inflation in …
Top official discusses need to free up resources for industrial development
Increased competitiveness According to Vice Chair of the Party Central Committee's Economic Commission Nguyen Duc Hien, Vietnam’s industries have developed intensively, with a number of industrial products exported on a large-scale occupying a strong position in the world market. According to the United Nations Industrial Development Organization (UNIDO), the global competitiveness ranking of Vietnam’s industrial sector increased from 58th in 2015 to 42nd in 2019. Deputy Minister of Industry and Trade Do Thang Hai emphasized that Vietnam’s industrial competitiveness has significantly improved, and UNIDO's Industrial Competitiveness Report has moved Vietnam from the group of “developing economies” to the group of “emerging industrial economies”. However, the Deputy Minister also frankly admitted that the process of industrialization and modernization still faces difficulties. The domestic industry remains weak by and large, while the competitiveness of domestic …
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Vietnam eyes stronger e-commerce application in agriculture
Illustrative image (Photo: tapchitaichinh.vn ) Hanoi (VNA) - Visa Inc., one of the largest electronic payment technology company, has cooperated with the Ministry of Industry and Trade’s Vietnam e-Commerce and Digital Economy Agency (iDEA) to speed up digital transformation in agribusinesses, cooperatives and farmer households in Vietnam. Accordingly, the two sides have signed a cooperation agreement to promote e-commerce applications and acceptance of digital payments in order to affirm the agriculture sector’s key position in Vietnam’s economic development. Dang Tuyet Dung, Director of Visa in Vietnam and Laos, said that through its cooperation with iDEA, Visa can contribute its expertise, and bring its electronic payment solutions closer to Vietnam's agriculture sector. Digitalisation will help create advantages for Vietnamese producers to develop faster, and modernise and improve the capacity of agricultural product distribution systems of the country, she said. …
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Central city takes PEMSEA president role
Vice chairman of Đà Nẵng City's people's committee, Lê Quang Nam is elected as the new president of the Partnerships in Environmental Management for the Seas of East Asia for the 2022-2025 term. — Photo courtesy of Lê Vũ Hoàng Trang ĐÀ NẴNG — Vice chairman of Đà Nẵng City’s People’s Committee Lê Quang Nam was elected as the new president of the Partnerships in Environmental Management for the Seas of East Asia (PEMSEA) for the 2022-2025 term. The vote took place during the annual forum of the PEMSEA Network of Local Governments for sustainable coastal development (PNLG) hosted by the Provincial Administration Preah Sihanouk in Cambodia on Wednesday. The forum had representatives of 52 local government members from 10 countries -- Cambodia, Indonesia, Japan, Malaysia, the Philippines, South Korea, Thailand, Timor-Leste and Việt Nam -- along with associate members, NGOs and development agencies. Đà Nẵng has made significant contributions to the effective management of …
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Marina-integrated real estate – where lifestyle creates property value
Yachts have always had great emotional value, redolent of a luxurious lifestyle and ownership linked with highly accomplished people. The Marina di Portofino, the most beautiful and luxurious marina in the Mediterranean Sea, the Porto Montenegro with its tall mountains casting shadows down on the beautiful cobalt sea and Monaco’s Port Hercules, where luxury events such as the Monaco Yacht Show and F1 Formula Race have always been a gathering place for billionaires, leaders and famous people around the world. Whether day or night, these marinas are always bustling with sports and entertainment activities besides lavish malls and gorgeous restaurants. Yachts – more than just a lifestyle Despite the pandemic, the global yacht industry has been growing strongly. It was worth an estimated US$64.1 billion in 2020, and is expected to grow to $84.7 billion in 2027, a compounded annual growth rate of 4.1 per cent in 2020-2027. Communities of elites have formed near marinas in many …
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