Chủ đề: economy

Forum hears that while Vietnam is expected to maintain GDP growth there will be obstacles along the way.

Vietnam’s efforts in restructuring its growth model and economy need to be faster, workshop hears.

In a recent report, the World Bank (WB) assessed that economic activity in Vietnam is continuing to recover, with a number of bright spots clearly visible, and recommended that the country encourage export enterprises to seek new markets and create new products through global value chains and FTAs to strengthen export resilience.

Covid-19 continues to be a threat to Vietnam’s economic recovery, but the country is now able to live with the pandemic. The increasing industrial production index and purchasing managers index, the higher recovery speed compared to the world, the thriving digital economy, and the socio-economic recovery program worth nearly VND350 trillion ($15.35 billion) are factors that will help the country in its recovery process.

There are risks, but HSBC believes Vietnam will see economic recovery over the course of this year.

The securities sector grew significantly in 2021, proving that existing institutions in the stock market are suitable for the high and sustainable development of Vietnam’s economy.

City’s business and production activities clearly on the mend.

The following six months is an important period for Vietnam’s economy to recover and develop, Mr. Kidong Park, acting United Nations (UN) Resident Coordinator said at a meeting between himself and heads of UN agencies in Vietnam and the Prime Minister on October 21. He also affirmed that the UN will continue to accompany and support Vietnam along the way.

The resumption of economic activities is as important as pandemic prevention, experts told the “Entrepreneurs and social responsibilities, from a Covid-19 viewpoint” forum on October 12. Continuing limits on passenger and goods transport may trigger economic recession, they added.

World Bank notes positive outlook but authorities must address high fiscal, financial, and social risks.

Border trade turnover reached $30 billion in 2020, accounting for just 5.5 per cent of Vietnam’s total. Strong solutions and attractive mechanisms and policies are required for the border economy to post breakthroughs, in which infrastructure improvements are needed.

Continuing concerns over pandemic sees organizations reconsidering growth forecasts.

Minister of Planning and Investment Nguyen Chi Dung proposed eight groups of solutions to help enterprises cope with the ongoing difficulties at a conference between the Government and businesses on August 8. Notable solutions include promoting business support for digital transformation and innovation; pushing the development of the digital economy, e-commerce platforms, and electronic payment transaction technology; and developing large-scale corporations and State-owned enterprises that operate effectively and will play a leading role into the future.

Vietnam’s index of industrial production (IIP) rose just 1.8 per cent in July compared to June and 2.2 per cent compared to July 2020; the lowest figure for seven months as Covid-19 continues to make its presence felt.

Vietnam still boasts potential for future development despite Covid-19, thanks to increased export activities, continued FDI attraction, and steady economic growth. It also gives foreign investors and experts priority to enter the country.

In a report forecasting Vietnam’s economic development, HSBC has lowered its growth projection from 6.6 per cent to 6.1 per cent due to the ongoing Covid-19 outbreak. It also predicted that the Vietnam dong (VND) exchange rate will fluctuate widely in the second half of this year.