UK newspaper highlights Vietnam’s growth potential
Vietnam is now a thriving regional hub with ample scope for further rapid development, assessed an article recently published on the UK news site of financial analysis moneyweek.com.
Smartphone production at Samsung Electronics Vietnam Company Limited located in Yen Binh Industrial Park, Thai Nguyen province. (File photo: VNA)
Hanoi (VNA) – Vietnam is now a thriving regionalhub with ample scope for further rapid development, assessed an articlerecently published on the UK news site of financial analysis moneyweek.com.
According to the author, Vietnam’s smartphone dominance is in large part due tohuge investments by the Republic of Korea (RoK)’s giant Samsung. The country isintent on pivoting from “labor-intensive” textiles and electrical assembly workinto more profitable sectors, such as semiconductors. Foreign capital is keento help, given the growing pressure to diversify supply chains.
“Vietnam’s booming economy has remained below the radar formost foreign investors for a simple reason: it is still not classified as anemerging market by MSCI,” noted the article. An upgrade to emerging market (EM)status would prompt large inflows from funds that track the benchmark EM index,delivering a boost to local stocks of an estimated 5 billion USD – 8 billionUSD.
Vietnamese stocks are the single largest component of thefrontier-markets sector, and foreign investors have spent recent years bettingthat an upgrade for such a dynamic emerging economy was only a matter of time,it said.
Meanwhile, Vietnam has faced milder inflation than manyWestern economies of late, enabling the central bank to cut interest rates fourtimes this year.
“For investors, the volatile nature of the local stockmarket means that Vietnam isn’t yet one to put at the centre of a portfolio,but it still merits a nibble,” said the author, adding that even as a frontiermarket, the Southeast Asian nation is a compelling play./.
Mexico’s magazine Voces Del Periodista (Voice of Mexican journalists) has run a story spotlighting the traditional ties between Vietnam and Latin America in general and Brazil in particular, on the occasion of Vietnamese Prime Minister Pham Minh Chinh’s official visit to Brazil from September 23-26.
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Over the medium-term outlook for the next five years, a number of key drivers are expected to continue to make Vietnam one of the fastest growing emerging markets in the Asian region, said an article published by the S&P Global Market Intelligence on October 5.
Vietnam has uniquely positioned itself to be among the fastest-growing economies in the coming decade, according to an article published recently on Australia-based website eastasiaforum.org.
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Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
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Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Smartphone production at Samsung Electronics Vietnam Company Limited located in Yen Binh Industrial Park, Thai Nguyen province. (File photo: VNA) 
