(VEN) - Ousmane Dione, Country Director for the World Bank (WB) in Vietnam, shared his views on the Vietnamese economy with Vietnam Economic News’ Nguyen Huong. He said he was impressed by Vietnam’s economic development and believes the country would achieve even greater success if it accelerated reforms. Ousmane Dione, Country Director for the World Bank (WB) in Vietnam In a recent semiannual report on Vietnam’s economic development, the WB forecast Vietnam could realize its economic growth target of 6.8 percent for 2018. What impresses you about the growth of the Vietnamese economy? The results Vietnam achieved in 2018 were impressive in the context of hard-to-predict changes in the global economy. In our semiannual report on the Vietnamese economy in the first half of 2018, our growth forecast for Vietnam was 6.3 percent. However, we had raised this forecast to 6.8 percent, while maintaining our forecast for new emerging economies in East Asia and … [Read more...] about World Bank rep lauds Vietnam’s economic stability
Vietnam economic news
Vietnam, a potential high flyer for CFM
(VEN) - Vietnam Economic News’ Nguyen Huong spoke with Gael Meheust, President and Chief Executive Officer of CFM International - the world’s leading manufacturer of jet engines for single-aisle aircrafts. Gael Meheust, President and Chief Executive Officer of CFM International What do you think about the Vietnamese aviation market? According to a report compiled by the International Air Transport Association (IATA), Vietnam will have about 250 million air traffic users by 2030, three times higher than in 2017. This is one of the strategic potential markets that CFM targets. We are attracted by Vietnam’s business models. For example, Vietjet Air has increasingly attracted more and more passengers due to its fare policy. The number of aircraft has also increased, which makes us feel very optimistic about doing business with Vietjet. Vietnamese airlines are growing rapidly with clear plans and strategies, so we have many advantages in developing the … [Read more...] about Vietnam, a potential high flyer for CFM
Visit by Vietnam’s Deputy PM to Laos boosts relationship
(VEN) - Vietnamese Ambassador to Laos Nguyen Ba Hung lauded the growing Laos-Vietnam relations during the visit of Deputy Prime Minister and Foreign Minister Pham Binh Minh to Laos on December 16-19. Vietnam Economic News’ Thu Hang reported on the interview he gave the media. Vietnamese Ambassador to Laos Nguyen Ba Hung How do you assess the achievements of Laos-Vietnam relations? The traditional friendship, special solidarity and comprehensive cooperation between Laos and Vietnam have continuously developed and achieved many important results in all fields. Frequent exchanges of high-level visits highlight closer Laos-Vietnam relations. Through such events, the two nations’ party and state leaders have reached important and strategic agreements for long-term ties. In terms of economics, Vietnam remains one of the biggest investors and major trade partners of Laos. Investment projects of Vietnamese businesses in Laos have contributed to promoting the … [Read more...] about Visit by Vietnam’s Deputy PM to Laos boosts relationship
The cost of Vietnam’s cement export growth
(VEN) - Vietnamese cement manufacturers have had to export their products at lower prices than their domestic ones in order to reduce inventories. Vietnam Economic News’ Nguyen Hanh spoke about this with Associate Professor Dr. Dinh Trong Thinh from the Academy of Finance. Cement exports continue to grow What do you think about cement being exported at a price lower than its domestic price? It is important to acknowledge that the cement industry has a major negative impact on the environment. However, the industry’s development for the domestic market is necessary. When supply exceeds demand in the domestic market, it is necessary for businesses to export product even at a price lower than the domestic price to avoid amassing inventories and earn foreign currency revenues. However, in the long run, exporting cement at such a low price is not sustainable given production costs and the price of similar products in other countries. The low export price … [Read more...] about The cost of Vietnam’s cement export growth
Vietnam’s economy to continue to develop strongly and remarkably
(VEN) - Vietnam Economic News’ reporter Minh Long spoke with Stephen Wyatt, CEO of JLL Vietnam, about how regulations and the current situation of the Vietnamese financial sector might influence the economy. Stephen Wyatt, CEO of JLL Vietnam Following the State Bank of Vietnam’s Circular 06/2016 and Circular 16/2018, as of January 1, 2019 all commercial banks, branches of foreign banks, will have to reduce the current rate of short-term and medium-term loans from 45 percent to 40 percent. Do you think this will affect the economy in general and the real estate market in Vietnam in particular? This decision is the next step in a series of consistent policy easing measures by the government and the State Bank of Vietnam to support economic growth. In the context of continued high credit growth and orientation will continue to push for the whole year, if officially applied, will help significantly reduce the pressure of mobilization with commercial banks. As … [Read more...] about Vietnam’s economy to continue to develop strongly and remarkably