The Hanoitimes - Uncertainties surrounding global trade activities, especially the escalating trade tensions between the US and China and the FED`s decision of hiking interest rates are putting pressure on Vietnam`s macro-economic management. Vietnam still maintains high economic growth rate of 6.88% in the third quarter and 6.98% in the first nine months of 2018, however, global uncertainties continue to pose threats to the country's economic prospects, according to Nguyen Dinh Cung, director of the Central Institute for Economic Management (CIEM). Overview of the conference. Source: Ngoc Mai. Uncertainties surrounding global trade activities, especially the escalating trade tensions between the US and China and the FED's decision of hiking interest rates, are putting pressure on Vietnam's macro-economic management, Cung said in a conference on October 17. "It is vital that the government solidify the macro-economic foundation, in turn ensuring economic … [Read more...] about Global uncertainties continue to pose threats to Vietnam economy: CIEM
Economy
Vietnam’s economy to continue to develop strongly and remarkably
(VEN) - Vietnam Economic News’ reporter Minh Long spoke with Stephen Wyatt, CEO of JLL Vietnam, about how regulations and the current situation of the Vietnamese financial sector might influence the economy. Stephen Wyatt, CEO of JLL Vietnam Following the State Bank of Vietnam’s Circular 06/2016 and Circular 16/2018, as of January 1, 2019 all commercial banks, branches of foreign banks, will have to reduce the current rate of short-term and medium-term loans from 45 percent to 40 percent. Do you think this will affect the economy in general and the real estate market in Vietnam in particular? This decision is the next step in a series of consistent policy easing measures by the government and the State Bank of Vietnam to support economic growth. In the context of continued high credit growth and orientation will continue to push for the whole year, if officially applied, will help significantly reduce the pressure of mobilization with commercial banks. As … [Read more...] about Vietnam’s economy to continue to develop strongly and remarkably
City Party Committee plans for market-oriented economy
Speakers at the 18th HCM City Party Committee conference, which closed yesterday in HCM City. VNA/VNS Photo Tiến LựcViet Nam News HCM CITY — HCM City has set out a plan to use the Party’s assets more effectively based on market economy principles, according to the secretary of HCM City Party Committee. Speaking at the 18th HCM City Party Committee conference which closed yesterday, Nguyễn Thiện Nhân said: “It’s vital to ensure that the city’s Party’s assets are used effectively on the basis of a market economy”. In the coming time, the city Party Committee Office will not be in charge of doing business but will transfer responsibility to appropriate companies under the city’s Party, according to Nhân. For example, the city Party Committee has been involved in business activities such as leasing out land and property to generate revenue, but it will no longer take part in such activities. He also … [Read more...] about City Party Committee plans for market-oriented economy
Vietnam – world’s top emerging economy: experts
Workers process shrimp for export at the Minh Phu Seafood Corp. in the Mekong Delta province of Hau Giang. Illustrative photo. (Photo: VNA) Washington (VNA) – Embracing free trade policies, reducing overregulation and costs of doing business, and investing in human capital and infrastructure are three ingredients that help Vietnam become a top emerging economy in less than three decades, said a writing posted on the US hakernoon.com. According to the article citing the World Bank’s recent report, the Vietnamese Government’s efforts have been paid off as its trade liberalisation opened the door to new agreements, lowering taxes for international commerce operations, and increasing regional competitiveness. To date, the Southeast Asian country has successfully inked 16 bilateral and multilateral free trade deals. Also, it has become a member of the World Trade Organisation (WTO), the Association of Southeast Asian Nations (ASEAN), and the Eurasian Customs Union. … [Read more...] about Vietnam – world’s top emerging economy: experts
10 years on, Việt Nam’s vision of strong sea-based economy faces rows of roadblocks
Fish is carried from boats at Cà Ná Fishing Port in Thuận Nam District, south central province of Ninh Thuận. — VNA/VNS Photo Công Thử Viet Nam News HÀ NỘI — Việt Nam is reaping the benefits of a national strategy laid out 10 years ago to garner riches from the country’s long coastline, over 3,000 islands and abundant water areas three times the size of its land mass. In 2007, the 10th Party Central Committee ratified the Việt Nam Maritime Strategy towards 2020. The strategy, and the myriad guidelines, policies and generous investment that have followed it have turbo-charged Việt Nam’s coastal economy, which includes tourism, fisheries, oil and gas, and other sectors reliant on the sea. However, a wide range of challenges stands in the way of the country reaching its primary targets: ensuring the sea-based economy accounts for 53-55 per cent of the country’s gross domestic product … [Read more...] about 10 years on, Việt Nam’s vision of strong sea-based economy faces rows of roadblocks