Photo: Vietnam Finance According to the report, there will be two scenarios for Vietnam’s economy in 2019. Under the first scenario, Vietnam’s economy will grow 6.56% and inflation will be at 4.21% while the second scenario forecasts Vietnam’s economy will grow by 6.81% with inflation at 4.79%. Experts say the second scenario is more likely thanks to growth factors from 2018, and the Vietnamese government efforts to increase economic competitiveness and productivity, together with Vietnamese enterprises’ increasing participation in international trade. GM_EN_PC_ARTICLE_Native_ads The annual report also mentions 4 scenarios concerning Vietnam’s digital economy by 2045. Accordingly, digital transformation will help the economy grow additional 1% annually, with digital exports contributing 0.45% to annual economic growth, and digital consumption contributing 0.43% of the growth while the traditional digital scenario is at 0.38%. … [Read more...] about Scenarios for Vietnam’s future economy
Vietnam economy
On summit sidelines, North Koreans study Vietnam’s economy
Eric Talmadge, Associated Press Updated 4:13 am PST, Wednesday, February 27, 2019 Policemen stand guard outside VinFast, an automotive startup manufacturer in Hai Phong, Vietnam Wednesday, Feb. 27, 2019. As North Korean leader Kim Jong Un prepared for his second summit with President Donald Trump, top members of his delegation made a whirlwind tour of one of Vietnam’s most successful conglomerates. less Policemen stand guard outside VinFast, an automotive startup manufacturer in Hai Phong, Vietnam Wednesday, Feb. 27, 2019. As North Korean leader Kim Jong Un prepared for his second summit with President Donald ... more Photo: Minh Hoang, AP Photo: Minh Hoang, AP Image 1 of / 7 Caption Close Image 1 of 7 Policemen stand guard outside VinFast, an automotive startup … [Read more...] about On summit sidelines, North Koreans study Vietnam’s economy
Vietnam’s fiscal deficit likely to remain wide during 2019
With budget collection likely to be constrained due to the loss of import duties and tariffs as Vietnam continues to open up its trade doors, the country’s budget deficit is likely to remain wide, reported a research firm. Fitch Solutions, a macro research subsidiary of Fitch Group said in a newly-released outlook for Vietnam economy that the country’s budget deficit as a share of GDP is estimated at around 5.7 per cent in 2019, similar to the estimated 5.8 per cent in 2018. The research unit added that the Vietnamese Government is likely to miss its five-year target of cutting the number of State-owned enterprises (SOEs) to 103 by 2020 (a drop from 583 in 2016). Many efforts to attract more foreign investment are losing steam amid tightening monetary conditions globally and complex bureaucratic red tape. These developments pose downside risks to Vietnam’s positive economic growth outlook given that the Government would find it difficult to plug the large … [Read more...] about Vietnam’s fiscal deficit likely to remain wide during 2019
Vietnam looks to an economy with globally extensive connectivity: PM
Prime Minister Nguyen Xuan Phuc (standing) co-chair a WEF dialogue on Vietnam economy (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has delivered Vietnam’s strong message, aspiration, and determination to become a “country of renovation and creativity” and an economy with globally extensive connectivity when engaging in every activity of the World Economic Forum (WEF) 2019 in Davos, Switzerland. He participated in 37 activities where he and heads of State and Government leaders of 50 countries and executives from leading groups around the globe discussed and dialogued matters relating to the forum’s theme “Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution”. PM Phuc said the Fourth Industrial Revolution is “knocking” on every enterprise and bringing profound changes that no country can be an outsider, and delivered Vietnam’s wish to become one of the passengers at … [Read more...] about Vietnam looks to an economy with globally extensive connectivity: PM
Vietnam’s economy grows robustly, but risks intensify
According to Taking Stock, the World Bank’s bi-annual economic report on Vietnam released on December 11, the pace of expansion is forecast to remain at 6.8% this year, higher than the projected figure of 6.3% for emerging markets in the East Asia and the Pacific. Over the medium term, in line with the global trend, Vietnam will see a slower pace – 6.6 and 6.5% in 2019 and 2020, respectively.Inflation will remain muted at 4% as the result of tightening monetary policies. “Despite a challenging global context, Vietnam continues to achieve robust growth accompanied by moderate inflation and a relatively stable exchange rate” said Ousmane Dione, World Bank Country Director for Vietnam. “Policy makers should take advantage of the still favorable growth dynamics to advance structural reforms to enhance private sector driven investment and growth, along with improving efficiency in public sector investment.” Risks to the outlook have intensified and are … [Read more...] about Vietnam’s economy grows robustly, but risks intensify