Nation ‘stands out’ as Asian leader in growth (24-04-2007) Delegates at yesterday’s Viet Nam Economic Forum are convinced Asia will be the next world leader in terms of economic development, growth and sustainability but the road ahead is littered with regional challenges. Workers of Global Sourcenet Ltd in the northern province of Hung Yen sew export products.— VNA/VNS Photo Tran Tong S Iswaran, Minister of State for Trade and Industry, Singapore Asia looks set to transform itself and the world in this century. It is one of the leading drivers of the world economy, backed by the traditional powerhouse nations and the new emerging economies. Today, Asia accounts for more than 35 per cent of the global GDP. The Asian Development Bank forecasts developing Asian economies to expand at 7.6 per cent in 2007 and 7.7 per cent in 2008. This would be underpinned by the phenomenal growth of China and India, which accounted for about 70 per cent of the economic … [Read more...] about Nation ‘stands out’ as Asian leader in growth
Value chain vs supply chain
VietNamNet Bridge – “FDI-driven economy” is the phrase used by many economists at recent business forums, meaning that foreign direct investment (FDI) is the major motive power for the national economy. FIEs leading in production and export Samsung Electronics Vietnam, a South Korean-invested company, reportedly exported $23 billion worth of products in 2013, putting phone and phone accessories into the Number 1 position among the major export items. A report of the General Department of Customs showed that foreign-invested enterprises (FIEs) year after year make up a higher value of xports than the domestic-invested enterprises. In 2013, the export revenue earned by FIEs accounted for 67 percent of total export revenue. The report also pointed out that the export growth rate created by FIEs has been continually higher than domestic enterprises, 22.4 percent vs 3.5 percent in 2013. While domestic enterprises cannot earn big money from exports, they spend … [Read more...] about The FDI-driven economy?