Rd economic growth

The country’s economic growth in the first half of the year is expected to remain lower than expected due to the pandemic affecting production and business. However, whether the economy can ensure its growth target for the whole year remains in question, with some international forecasts still proving upbeat. While COVID-19 has been a blow, the Vietnamese economy is looking at great prospects in the coming years. Photo: Le Toan Minister of Planning and Investment Nguyen Chi Dung has reported to the government a fresh scenario for economic growth for the first half of 2021, based on positive performance of the economy in the first five months in defiance of difficulties caused by the health crisis. The Ministry of Planning and Investment (MPI) forecast that the economy will likely grow 5.8 per cent on-year in the first six months, or 1.31 per cent lower than the target of 7.11 per cent set in the government’s Resolution No.01/NQ-CP released on January 1 on key tasks … [Read more...] about Positive factors in place for economic growth in 2021

At a shopping mall in Bangkok, Thailand (Photo: VNA) Bangkok (VNA) – Thailand’s plan to fully reopen the country within 120 days would support economic growth of 2.3 percent this year as forecast by the Fiscal Policy Office (FPO), said the office's director-general Kulaya Tantitemit. Thai Prime Minister Prayut Chan-o-cha said on June 17 that the nation will fully reopen by mid-October, with all businesses able to resume normal operations and visitors free to travel across the country. Roughly 50 million people will have received at least one COVID-19 vaccine jab by then. Kulaya said the 120-day target falls in the fourth quarter, in line with the FPO's forecast made in April that foreign arrivals will return to Thailand in greater numbers during this period. The FPO predicted if the country can fully reopen this year, Thailand will record around 2 million foreign arrivals, of which 190,000 are expected to arrive in the third quarter and another 1.7 million in the … [Read more...] about Thailand’ reopening plan expected to aid economic growth

Disbursement of public investment capital has been stepped up Positive signal Associate Professor Pham The Anh from the VEPR said Vietnam’s economy expanded by 4.48 percent in the first quarter of 2021, higher than the 3.68 percent recorded in the same period last year. On average, the consumer price index (CPI) rose 0.29 percent in the reviewed period, the lowest increase for the first quarter recorded in the last two decades. The agro-forestry-fishery sector grew 3.16 percent, while the industrial and construction sector expanded by 6.3 percent and the services sector by 3.34 percent. Positive results in the first quarter of 2021 were attributed to the government’s drastic actions to control the pandemic from the early stages, along with the signing of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA), as well as rapid disbursement and accelerated implementation of key public investment projects, helping maintain a … [Read more...] about VEPR forecasts 6-6.3 percent economic growth in 2021

Participants at the press conference (Photo: VNA) The information was announced by the SBV at a press conference on June 21 to review the banking sector’s activities in the first half of 2021. According to SBV Deputy Governor Dao Minh Tu, thanks to synchronous management solutions, as of June 15, total credit in the economy expanded 5.1 percent from the end of 2020. The credit growth rate in the same period last year was only 2.26 percent Attention has been paid to strictly controlling credit for areas with potentially high risks, and taking measures to remove difficulties facing enterprises and people in accessing bank credit, he said. Total M2 payment vehicle - one of the tools to measure the level of "pumping money" into the economy from the banking system – in the period increased by 3.96 percent compared to the end of 2020 and surged 14.27 percent over the same period last year. The credit institution system maintains smooth liquidity. The sector has continued to … [Read more...] about Flexible monetary policy helps recover credit growth amid pandemic

Most of Vietnam's economic indicators in April were good: WB report (Photo: VNA) Hanoi (VNA) - The World Bank in Vietnam has recently announced its updated report on Vietnam Macro Monitoring in May 2021, which states that most of Vietnam's economic indicators in April were good. However, it warns of several risks to the Vietnamese economy due to the most recent outbreak of the COVID-19 pandemic in late April. According to the report, industrial production continued its strong growth momentum last month, increasing by 1.1 percent compared to March, 24.1 percent higher than the same period in 2020. Revenue from retail sales in April also expanded by 2.3 percent month-on-month, after two consecutive months of decline. The consumer price index in April also recorded an increase of 0.5 percent compared to March, reflecting a recovery in household consumption. In terms of exports, a double-digit growth rate was recorded in all major export items, with the fastest … [Read more...] about WB: Most of Vietnam’s economic indicators in April good