Employees at Electronics Việt Nam Co Ltd at Hà Nam Province’s Đồng Văn 2 Industrial Zone produce electronics for export. Electronics exports account for 50 per cent of the country’s total exports. – VNA/VNS Photo Vũ SinhViet Nam News HÀ NỘI – Việt Nam’s targeted growth rate of 6.7 per cent for this year may be too ambitious given both macro and micro economic conditions, said Nguyễn Đức Thành, President of the Vietnam Institute for Economic and Policy Research (VEPR) yesterday at a conference. Thành made the statement when he and his research team launched the Việt Nam Annual Economic Report 2016, entitled, “Forging new foundations for economic growth.” It is difficult for the country to reach its targeted growth rate of 6.7 per cent this year and an average growth rate of between 6.5 per cent and 7 per cent during the period 2016-20 due to a decline in … [Read more...] about Ambitious growth rate
Sustainable growth rate formula
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?
At 5.2 percent it was behind only the Philippines (8.7 percent), and the global average was only 3.4 percent. Nielsen said Vietnam’s retail landscape is undergoing a change because of rising consumer demand for frequent shopping trips for everyday needs. "We’ve been seeing solid growth in the convenience and mini-market channels across Southeast Asia for some time now, but over the past year or so that growth has really hit fever pitch," Vaughan Ryan, Nielsen’s managing director, Southeast Asia, said. Data released by Nielsen showed that Vietnamese shoppers made 4.5 trips a month to convenience stores last year, three times the number in 2010. "Consumers throughout the region are living increasingly fast-paced lives, and this lifestyle shift is driving increasing demand for on-the-go offerings," Ryan added. Local retailers are seeking to take advantage of the trend. Conglomerate Vingroup last week launched the first virtual store chain in the country, which allows … [Read more...] about Vietnam FMCG sales growth second fastest in Southeast Asia
Cái Răng Floating Market in the Mekong Delta city of Cần Thơ. — VNA/VNS PhotoViet Nam News HÀ NỘI — Việt Nam’s economy continues to perform well, propelled by the sustained global recovery and continued domestic reforms, according to a new World Bank (WB) report. The report, titled “Navigating Uncertainty”, is the October 2018 edition of the World Bank East and Pacific Economies Update. Released on Thursday, it says that Việt Nam’s medium-term outlook has improved further. The country’s real gross domestic product (GDP) is now projected to expand by 6.8 per cent in 2018, up from 6.5 per cent in the WB’s previous projection in April. The economic growth is also projected to moderate to 6.6 per cent in 2019 and 6.5 per cent in 2020 due to the forecasted cyclical moderation of global demand. Despite reduced slack in the economy, the WB expects inflation to remain around the 4 per cent … [Read more...] about Domestic reforms propel Việt Nam’s robust economic growth: WB
Chart showing growth in Southeast Asia. ICEAW predicts that economic growth across the region will slow from 5.1 per cent in 2018 to 4.5 per cent in 2019 and remain unchanged in 2020. — Photo Courtesy ICEAW Viet Nam is an exception which has benefited from some trade diversion effects caused by the trade war, according to the Institute of Chartered Accountants in England and Wales’ latest Economic Update: South-East Asia report. Nonetheless, ICAEW added, momentum in Viet Nam was expected to ease to 6.6 per cent in 2020 from 7 per cent in 2019, given weaker Chinese import demand and increased trade protectionism. Export-oriented economies had been the most impacted by the ongoing trade tensions, with Singapore only narrowly avoiding a technical recession in the third quarter. Economic growth across the region was expected to slow from 5.1 per cent in 2018 to 4.5 per cent in 2019 and remain unchanged in 2020 amid high risks of a re-escalation in trade tensions. Regional … [Read more...] about Southeast Asia GDP growth hit by trade war: report