In the update of its Asian Development Outlook released on December 12, the bank said inflation rate in Vietnam is expected to hit 4% in 2018 and 4.5% next year. The bank maintained its 2018 and 2019 economic growth estimates for Asia at 6.0% and 5.8%, respectively. The ADB also kept its 6.6% and 6.3% growth projections for China as well as its 7.3% and 7.6% growth expectations for India for both years. Early this month, US President Donald Trump and Chinese counterpart Xi Jinping agreed on a 90-day truce on further tariffs as they try to negotiate a deal. But while the truce was a welcome development, ADB Chief Economist Yasuyuki Sawada said "the unresolved conflict remains to be the downside risk to economic prospects in the region." The 2019 growth outlook for Central Asia was raised to 4.3%, from the September projection of 4.2%, the ADB said, but the forecasts for Southeast Asia and South Asia for next year were lowered to 5.1% and … [Read more...] about ADB maintains forecast for Vietnam’s growth at 6.9% in 2018
Vietnam conflict
ADB maintains forecast for Vietnam’s growth at 6.9 pct in 2018
Illustrative image (Photo: VNA) Hanoi (VNA) – The Asian Development Bank (ADB) has retained its forecast for Vietnam’s economic growth at 6.9 percent in 2018 and 6.8 percent in 2019 in its new report. In the update of its Asian Development Outlook released on December 12, the bank said inflation rate in Vietnam is expected to hit 4 percent in 2018 and 4.5 percent next year. The bank maintained its 2018 and 2019 economic growth estimates for Asia at 6.0 percent and 5.8 percent, respectively. The ADB also kept its 6.6 percent and 6.3 percent growth projections for China as well as its 7.3 percent and 7.6 percent growth expectations for India for both years. Early this month, US President Donald Trump and Chinese counterpart Xi Jinping agreed on a 90-day truce on further tariffs as they try to negotiate a deal. But while the truce was a welcome development, ADB Chief Economist Yasuyuki Sawada said "the unresolved conflict remains to be the downside … [Read more...] about ADB maintains forecast for Vietnam’s growth at 6.9 pct in 2018
Vietnam among 10 fastest-growing economies
GDP growth forecast (Source: /vietnamnews.vn) HCM City (VNS/VNA) - While growth is set to ease in 2019, Vietnam will still be among the top 10 fastest-growing economies globally, according to the “Economic Insight: South-East Asia” report recently released by the Institute of Chartered Accountants in England and Wales (ICAEW). In the report, ICAEW predicts that economic growth across Southeast Asia (SEA) is expected to slow down in 2019 to 5 percent, after an estimated 5.3 percent in 2018. It attributed the slowdown to US-China tensions. “The resulting slowdown in Chinese demand will weigh significantly on SEA growth, especially for export-dependent economies with a high level of exports to China, like Singapore and Malaysia,” the report said. Economic growth continued to moderate across most SEA economies in the third quarter of 2018, with the average GDP growth slowing to 4.8 percent year-on-year, from 5.2 percent in second quarter of 2018, it said. … [Read more...] about Vietnam among 10 fastest-growing economies
New advanced technologies posing grave threats to Vietnam
At the conference, Deputy Minister of Information and Communications Nguyen Thanh Hung stated that more than 60 percent of the Vietnamese population (ranking the 15th in the world) are using the Internet, making the nation a lucrative market of cyber services to various international technological businesses. “It is the logical legal frame for cyber services that Vietnam is lacking. The fight between taxi companies Vinasun and Grab is one typical example of that. This fight not only displays a conflict between traditional and modern borderless taxi companies but also demonstrates a fierce battle between the conventional and more modern technological business models”, said Mr. Hung. Representatives of the Working Group to Foster the Vietnamese Digital Ecosystem under the Ministry of Information and Communications advised that the domestic digital ecosystem should be developed by a Vietnamese business to serve domestic demands under advantageous conditions and … [Read more...] about New advanced technologies posing grave threats to Vietnam
Vietnam may reap benefits from US companies leaving China: AmCham
The Hanoitimes - The question would be how Vietnam can take advantage of this opportunity. One third of US companies operating in China are considering relocating their production facilities abroad, and Vietnam is one of their top destinations, according to Michael Kelly, chairman of the American Chamber of Commerce (AmCham) Hanoi. Overview of the VBF 2018. Source: VGP. China, however, remains a key player in the global supply chain, but there is a growing trend of companies and suppliers relocating facilities out of China, Kelly said at the Vietnam Business Forum 2018 on December 4. But the question would be how Vietnam can take advantage of this opportunity to maintain high economic growth rate, Kelly added. Kelly pointed to the fact that Vietnam has been one of the world’s main destinations of FDI, but some National Assembly deputies expressed concern whether the presence of a large number of FDI enterprises would be good for Vietnamese … [Read more...] about Vietnam may reap benefits from US companies leaving China: AmCham