Potential gdp growth

The growth of e-commerce will lead to an upswing in warehouse demand in Vietnam, which is still in a relatively nascent stage and accounts for only 5.5 percent of total retail sales, he said. Foreign firms optimistic about potential of Vietnam's warehouse sector. Despite negative impacts of the COVID-19 pandemic, Vietnam continues to be an attractive destination for foreign investors, especially those operating in the warehouse sector thanks to its advantage of geographical location and skilled labour force, according CEO of BW Industrial Development JSC Lance Li. While the pandemic left the world grappling with supply-chain and logistical disruptions, the demand for warehouses has soared due to overwhelmed transport networks and a surplus of raw materials to ward off inventory shortages, Mingtiandi.com of Thailand quoted Li in its article on November 28 as saying. The pandemic has certainly led to an unfortunate series of events, however, from a business …

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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./. …

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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 …

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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 …

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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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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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President Nguyễn Xuân Phúc (right) and CEO of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev had talks in Moscow, Russia. — VNA/VNS Photo Thống Nhất MOSCOW — President Nguyễn Xuân Phúc hosted receptions on Thursday for leaders of big Russian companies which have business ties in Việt Nam, including the Russian Direct Investment Fund, Gazprom, Novatek, Sistema and Miratorg, as part of his visit to Russia. During the meetings, the Vietnamese President praised the strength of Russian enterprises and investors. He said Việt Nam, with one of the highest economic growth rates and largest amount of foreign investment attracted in the region, has always created favourable conditions for foreign investors, including those from Russia. He expressed a wish that Russian businesses expand their investment in and cooperation with Việt Nam so as to tap the potential and strength of both countries and meet their needs, contributing to promoting the bilateral strategic partnership. …

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An article by H.E. Mr. Nikorndej Balankura, ambassador of Thailand on the birthday anniversary of His Majesty King Bhumibol Adulyadej The Great, Thai National Day and Thailand Father's Day (December 5) Every year December 5 marks the most significant day for Thai people around the world as we commemorate the National Day of the Kingdom of Thailand, the birthday anniversary of His Majesty King Bhumibol Adulyadej the Great and Thailand's Father's Day. In addition, since 2013 the day has been observed as the World Soil Day by the United Nations to honour the efforts and dedication of His Majesty King Bhumibol Adulyadej the Great in the field of soil resources based on the adoption of the “Sufficiency Economy Philosophy (SEP)”. The home-grown approach, comprising the three core principles of moderation, reasonableness and self-protection, has been translated in to over 4,000 royal initiatives and projects that have been guiding Thai people in achieving sustainability by drawing …

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President Nguyen Xuan Phuc said that Russian enterprises investing in Vietnam are not only international investors but also close friends who contribute to the building of the traditional relationship between the two countries. Vietnamese President Nguyen Xuan Phuc On December 1, 2021, the Vietnam-Russia Business Forum was organized in Moscow with the participation of 100 Vietnamese and Russian enterprises. The forum was an opportunity for Vietnamese enterprises to be introduced to Russian enterprises, distributors and clients, and for Russian businesses to better understand Vietnam as an attractive and safe destination. Speaking at the forum, Phuc said that the outcome of the talk with Russian President Putin, which lasted four hours, outlined the directions to deepen the comprehensive strategic partnership between Vietnam and Russia. The most discussed issues were related to trade, investment and development of the two countries. “Vietnam and Russia have a very good …

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