The Hanoitimes - Vietnam is one of the most open economies in the world, with its trade-to-GDP ratio at above 200%. WB wants to help Hanoi transform its urban transport landscape Vietnam needs to accelerate “Doi Moi” to boost productivity and innovation Vietnam should attach importance to efficient and reliable transport and logistics, which plays a critical role in supporting the country’s export-oriented economy, World Bank Country Director for Vietnam Ousmane Dione said at a workshop on sustainable development of inland waterways transport in Vietnam and strengthening Vietnam’s trucking sector in Hanoi on March 28. Ousmane Dione emphasized that Vietnam is one of the most open economies in the world, with its trade-to-GDP ratio at above 200%. As tariffs on international trade have been sharply reduced and manufacturing costs have increased, Vietnam’s export competitiveness is increasingly dependent on factors such as quality, productivity, … [Read more...] about Vietnam should enhance trucking sector and inland waterways transport: WB
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Economic growth could reach 6.9 percent in 2019: VEPR
Boats at Quy Nhon Port in Binh Dinh province (Photo: VNA) Hanoi (VNS/VNA) – Vietnam’s economic growth could reach 6.9 percent in 2019, an increase of 0.1 percent compared to the 2019 socio-economic development plan adopted by the National Assembly, in the context that Vietnam is benefiting from the US-China trade tension. The statement was made by Nguyen Duc Thanh, Director of the Vietnam Institute for Economic and Policy Research (VEPR) at a conference held in Hanoi on January 10. However, Thanh noted the use of foreign exchange reserves to stabilise the value of the Vietnamese dong (VND), as the State Bank of Vietnam (SBV) has done in recent years, is not a long-term solution when Vietnam’s foreign exchange reserves are in fact small in scale. The pressure of exchange rates and inflation along with the regulation of restricting the use of short-term capital for medium- and long-term loans has caused the interest rate of VNĐ to increase … [Read more...] about Economic growth could reach 6.9 percent in 2019: VEPR
Economic growth could reach 6.9% in 2019: VEPR
Representatives discuss Viet Nam’s economy 2018 and prospects for 2019. — VNS Photo Phuong Thao Viet Nam’s economic growth could reach 6.9 per cent in 2019, an increase of 0.1 per cent compared to the 2019 socio-economic development plan adopted by the National Assembly, in the context that Viet Nam is benefiting from the US-China trade war. The statement was made by Nguyen Duc Thanh, director of the Viet Nam Institute for Economic and Policy Research (VEPR) at a conference held in Ha Noi on Thursday. However, Thanh noted, the use of foreign exchange reserves to stabilise the value of the Vietnamese dong (VND), as the State Bank of Viet Nam (SBV) has done in recent years, is not a long-term solution when Viet Nam’s foreign exchange reserves are in fact small in scale. The pressure of exchange rates and inflation along with the regulation of restricting the use of short-term capital for medium- and long-term loans has caused the interest rate of VND to increase … [Read more...] about Economic growth could reach 6.9% in 2019: VEPR
Vietnam’s GDP growth to surpass 7% in 2018: Brokerage
The Hanoitimes - In order to achieve the growth target of 6.7% for 2018, the Vietnamese economy would need to increase by around 6.1% in the fourth quarter. Ho Chi Minh Securities Corporation (HSC) predicted that Vietnam's GDP growth target of 6.7% in 2018 is feasibl and could even go beyond the 7% mark. Illustrative photo. Vietnam posted year-on-year GDP growth of 6.98% in the first three quarters of 2018, the best first-nine-month performance since 2011. As a result, in order to achieve the growth target of 6.7% for 2018, the local economy would need to expand by around 6.1% in the fourth quarter, stated HSC in its latest report. This scenario is achievable, especially when the average growth rate of the fourth quarter in the last five years was 6.87%, HSC added. HSC assumed that the growth rate of the fourth quarter of 2018 may be in range of 6.1 - 6.8%, resulting in an overall growth rate of 6.7 - 6.9% for the whole year. The rate may even reach 7 - … [Read more...] about Vietnam’s GDP growth to surpass 7% in 2018: Brokerage
ASEAN’s financial services sector to outpace more mature market
Illustrative photo (Photo: ASEAN SAS) Jakarta (VNA) – PricewaterhouseCoopers (PwC) has predicted that the financial services sector in ASEAN will outpace that of more mature markets, according to the ASEAN Post. An article on “The future of ASEAN financial services” on the ASEAN Post on September 19 highlighted economic achievements of the Association of Southeast Asian Nations (ASEAN) over the past 20 years. After the financial crisis of 1997 swept across Asia devastating many, including the Southeast Asian community, the ASEAN has strived to pull itself back together and has since flourished as an economy, the article said. The bloc now has a combined GDP of 2.4 trillion USD and is collectively the third fastest growing Asian economy after China and India. The financial crisis that damaged the region has proven to be a blessing in disguise, it reads, with most countries going on to build strong foundations for economic growth. One such driver of growth is … [Read more...] about ASEAN’s financial services sector to outpace more mature market