Vietnam could drop out of the Top 20 economies of global growth. Is this because Vietnam is going more slowly or the world is going faster? Vietnam is now considered a ‘rising star’ after the US-China trade war breakout. While other countries have to struggle with economic growth slowdown or the fluctuations of local currencies, Vietnam still keeps high economic growth rates and macrostability. Vietnam is now considered a ‘rising star’ after the US-China trade war breakout. While other countries have to struggle with economic growth slowdown or the fluctuations of local currencies, Vietnam still keeps high economic growth rates and macrostability. By 2024, the global growth rate is predicted to soar to 3.6 percent. However, the major reason behind the growth would be related to emerging and developing countries, not big economies such as the US, Germany and Japan. Kim Chi Vietnam’s economy stays positive amid global growth slowdown: PM … [Read more...] about How long will Vietnam stay in the top 20 in economic growth?
Strong economic growth
CSR Strong advocator of Vietnam’s business development By Son Hoang Monday, Dec 9, 2019,09:35 (GMT+7) Strong advocator of Vietnam’s business developmentBy Son Hoang Mr. Shin Dong Min, CEO of Shinhan Bank in Vietnam, and representatives of SFL Vietnam welcome potential startups to join in “Acceleration program” When it comes to corporate social responsibility, Shinhan Bank chooses the rougher path: helping develop new startups for the local economy. Over the past three years, many Vietnamese startups have emerged and gained initial success owing to the support from the South Korean bank. The initiative to support Vietnamese startups stemmed from the success of Shinhan Future’s Lab (SFL), a subsidiary of Shinhan Financial Group known as the leading start-up acceleration program in South Korea. SFL Korea was founded in 2015 and has since supported a lot of successful startups. Some 93.4% of … [Read more...] about Strong advocator of Vietnam’s business development
“We think that in 2020-2022, Vietnam may face negative impact from the trade war instead of short-term positive impact, ” said Tran Toan Thang from the Centre for Socio-Economic Information and Forecast (NCIF). Vietnam's 2016-2020 socio-economic development plan has gained impressive achievements despite difficulties. The economic structure has shifted too quickly into the service sector while the industrial base remains weak, supporting industries have developed slowly and enterprises mostly still do outsourcing. The economic structure has shifted too quickly into the service sector while the industrial base remains weak, supporting industries have developed slowly and enterprises mostly still do outsourcing. Thanh Mai Vietnam’s economy stays positive amid global growth slowdown: PM Vietnam’s economy remains positive despite the slowdown in global economic growth, especially in Asia, over the last 11 months, Prime Minister Nguyen Xuan Phuc … [Read more...] about Vietnam may see negative impact from trade war in 2020: economists
An international workshop on Vietnam's economic prospects until 2025: opportunities and challenges brought by new-generation FTAs (Photo: dangcongsan.vn) Under its 5-year socio-economic development plan until 2020, Vietnam has maintained an annual GDP growth rate of more than 6.8%. Last year’s growth was more than 7% and this year is expected to exceed 7%. Vietnam has achieved the GDP growth target set for the entire period. Inflation has been under control and the public debt ratio has been decreasing. But growth has been heavily dependent on capital. The support industry has grown slowly. The contribution of services with high added value has remained low. Logistics costs are high. Exports depend on foreign-invested enterprises. Most Vietnamese businesses haven’t participated in global value chains and their ability to innovate hasn’t improved much. At a recent international workshop on Vietnam's economic prospects until 2025, many experts pointed … [Read more...] about New-generation FTAs create opportunities, challenges for Vietnam’s economy
French Prime Minister Édouard Philippe strongly believes that Vietnam and his country should advance their ties in order to turn Hanoi into Paris’ partner of reference in Southeast Asia, given their current comprehensive cooperation. In an exclusive interview with Tuoi Tre News this week, the prime minister addresses a broad range of topics, from high-level exchange visits, trade, innovation, to culture, the French language, and history, on the occasion of his visit to Vietnam from November 2 to 4. PM Philippe did not forget to voice his expectation for the entry into force of a free trade agreement between Vietnam and the EU, which he believed would ease flows of trade and bring benefits to both nations. The pact is waiting to be ratified in both Europe and Vietnam after having been adopted by the European Commission on October 17. One highlight of his stay in the Southeast Asian country is his visit to Dien Bien Phu, the old battlefield of the French … [Read more...] about France wants Vietnam to become partner of reference in Southeast Asia: PM Édouard Philippe