Vietnam forecast to grow 6.8 pct this year: UN survey
Vietnam is forecast to grow 6.8 percent in 2016 and 6.9 percent in 2017, according to a survey released by the United Nations Economic and Social Commission for Asia and the Pacific on April 28.
Hanoi (VNA)🐭 – Vietnam is forecast to grow 6.8 percent in 2016 and 6.9 percent in 2017, according to the Economic and Social Survey of Asia and the Pacific, released by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on April 28.
The survey predicted that the Trans-Pacific Partnership and the free trade agreement between Vietnam and the European Union will make it easier for Vietnam to attract investment, expand markets and improve its export capability.
In his report, deputy head of the Central Institute of Economic Management’s Macro-economic Policy Department Nguyen Anh Duong urged Vietnam to persevere with reform and labour productivity improvement, including loosening requirements on market access and businesses’ rights to asset ownership.
He also called for attention to renovating approaches to education-training and science and technology reform, in combination with promoting connectivity between domestic and foreign enterprises.
Evaluating regional economic prospects, the survey rated it generally stable with an economic growth of 4.8 percent and 5 percent in 2016 and 2017.
It suggested regional countries improve labour productivity and salary, business climate and infrastructure, while accelerating regional cooperation in science and technology application.-VNA
Vietnam’s gross domestic product (GDP) growth is forecast to be robust in 2016 and 2017, possibly outperforming other countries in the region, according to international banks.
Some foreign economic and financial organisations have maintained an optimistic outlook for Vietnam’s economy in 2016, in spite of the recent slower than expected GDP expansion.
Vietnam is forecast to grow 6.5 percent or less in 2016, depending on economic restructuring progress, said Truong Dinh Tuyen, a former trade minister.
Prime Minister Nguyen Xuan Phuc has urged the Ministry of Planning and Investment (MPI) and other ministries and agencies to promptly reach consensus on solutions to the lingering problems.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
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&.
A corner of Vietnam (Source: VNA)
