Sustaining vietnams growth the productivity challenge

This preliminary assessment was made by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to Vietnam from May 3 - 18. “The Vietnamese economy is expected to grow at 6.3 percent in 2022 and 6.5 percent in 2023. Inflation is projected to remain contained,” said AMRO Group Head and Lead Economist Kalra. “This positive outlook rides on strong external demand, a recovery in domestic consumption and healthy investments inflows, bolstered by an appropriate macroeconomic policy stance.” The domestic outbreak of the Omicron variant receded sharply in April 2022, and border restrictions and domestic containment measures were eased. The aggregate output gap is expected to narrow significantly by the end of this year. The recovery is, nevertheless, uneven across sectors. While both the manufacturing and service sector outputs have surpassed their 2019 levels, the service sector still has pockets of distress, especially in the tourism, hospitality and … [Read more...] about AMRO forecasts Vietnam’s strong recovery amid external headwinds

An employee passes electronic boards showing share prices inside Hồ Chí Minh Stock Exchange in HCM City. — VNA/VNS Photo Hữu Khoa HÀ NỘI — An upgrade to emerging status will not only help the stock market develop quickly, transparently and sustainably, but also attract huge foreign capital inflows, said experts. Recently, the Government has directed to purge the market and improve the trading system’s capacity, showing its determination to enhance the quality of the stock market. The refinement is to protect investors and open a door for the Vietnamese stock market to be upgraded from a frontier to an emerging market. Prime Minister Phạm Minh Chính has taken an interest in the development of the capital market and the stock market, including the matter of upgrading the market. During a trip to attend the ASEAN-US Special Summit, on May 16, the PM visited the New York Stock Exchange (NYSE) – the largest stock exchange in the world – hoping it supports and shares experience to … [Read more...] about Upgrading the market for the sake of all participants

Prime Minister Pham Minh Chinh attends Gia Lai's 90th founding anniversary celebration ceremony in Pleiku City on May 21 evening. (Photo: VNA) Gia Lai (VNA) - Gia Lai should make renewable energy a key economic sector and pay more attention to developing tourism and processing industries while, Prime Minister Pham Minh Chinh stressed at the Central Highlands province’s 90th founding anniversary celebration ceremony held in Pleiku City on May 21 evening. Gia Lai is blessed with various natural and cultural advantages, Chinh said in his remarks, noting that the province has magnificent, green landscapes; fertile soil; a wealth of minerals and resources; distinctive cultures; as well as hardworking and friendly people. To make the most of such advantages and potential to turn Gia Lai into a strong province with improved living standards, the provincial Party organisation, administration and people must work harder, cement their solidarity, and stay active, … [Read more...] about Gia Lai should make renewable energy key sector: PM