The Economist: Vietnam among safe economies in wake of COVID-19
Vietnam has been listed as the 12th strongest economy, according to The Economist’s report on the financial strength of the 66 emerging economies in the wake of the COVID-19 fallout.
Vietnam ranks 12th among the 66 emerging economies regarding financial strength. (Photo: zingnews.vn)
Hanoi(VNA) – Vietnam has been listed as the 12th strongest economy, according to TheEconomist’s report on the financial strength of the 66 emerging economies inthe wake of the COVID-19 fallout.
The ranking examinesthe vulnerability of selected economies across four potential sources of peril– public debt, foreign debt and cost of borrowing and reserve cover.
The Economist calculatedtheir likely foreign payments this year (their current-account deficit plustheir foreign-debt payments) and compare this with their stock offoreign-exchange reserves. A country’s rank on each of these indicators is thenaveraged to determine its overall standing.
Vietnam is inthe safe group thanks to stable and strong financial indicators.
Accordingly,more than 30 emerging economies are facing great pressure, the worst beingLebanon and Venezuela.
Botswana topsthe list of the safe economies, followed by Taiwan (China) and the Republic of Korea.
The Economistsaid that most of the economies were strong enough to overcome the pandemic.The 30 weakest economies was relatively small, accounting for only 11 percentof the total GDP of the 66 economies.
It said theCOVID-19 hurts emerging economies by locking down their populations, damagingtheir export earnings and deterring foreign capital.
Even if thepandemic fades in the second half of this year, GDP in developing countries,measured at purchasing-power parity, will be 6.6 percent smaller than the IMF’sforecast in October, states the report./.
Vietnamese landlords should consider shifting from their traditional fixed-rent model to base rents and revenue sharing like in many other countries to spread the risk, experts have suggested.
Some 81 percent of members of the Vietnam Business Council for Sustainable Development (VBCSD) will strengthen sectoral links to prevent their supply chains from suffering any future disruption caused by a disaster similar to the COVID-19 pandemic, a survey has found.
Despite the impact of the COVID-19 pandemic and many countries limiting customs clearance, solar power enterprises with manufacturing plants in Vietnam are still taking advantage of the domestic market to serve customers and sustain growth.
The Civil Aviation Authority of Vietnam (CAAV) has asked the Ministry of Transport to increase domestic flights and remove social distancing on aircraft.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Vietnam ranks 12th among the 66 emerging economies regarding financial strength. (Photo: zingnews.vn) 
