Vietnam to remain important link in global supply chains: economist
Vietnam will remain an important link in global supply chains and a destination favoured by many businesses, said Tim Leelahaphan, Standard Chartered's economist for Thailand and Vietnam, on February 28.
Hanoi (VNA) – Vietnam will remain an important link in global supplychains and a destination favoured by many businesses, said Tim Leelahaphan,Standard Chartered's economist for Thailand and Vietnam, onFebruary 28.
Speaking at the seminar titled “Global Economic andFinancial Outlook Update: Implications for Vietnam” held by the Ministry ofForeign Affairs and the British bank, he said that Vietnam’s GDPgrowth rate may hit 7.2% this year and 6.7% in 2024.
The country's economy still faces some macro risks such asinflation, public debt, and confidence recovery in the first half of 2023, butthe recovery outlook is positive in the second half, he predicted.
Delegates attend the seminar. (Photo: VNA)
Michele Wee, Chief Executive Officer at Standard CharteredBank Vietnam Ltd., said that Vietnam has medium- and long-term development outlooks,which helps increase growth potential and attract investment.
Vietnam is playing an increasingly important role ininternational trade activities and global supply chains, she affirmed, addingthat Standard Chartered always strives to support Vietnam's recovery andsustainable growth in 2023 and the coming years.
Ambassador Giorgio Aliberti, Head of the European UnionDelegation to Vietnam, and many economists attending the seminar agreed thatVietnam should promote green trade and provide comprehensive support for sustainabilitygoals in the context that accelerating the implementation of commitments todigital transformation and green transformation associated with environmentalcriteria is a mandatory trend for almost all countries.
They proposed Vietnamese enterprises take appropriatepreparations to catch up with this inevitable trend by innovating the way ofthinking, changing governance methods, and building a green export strategy.
Assistant to Foreign Minister Nguyen Minh Hang speaks at the event. (Photo: VNA)
Speaking at the event, Assistant to Foreign Minister NguyenMinh Hang stressed that the promotion of international cooperation to takeadvantage of the collaboration and support of international partners forsocio-economic recovery measures, and for boosting new growth drivers such asgreen growth and digital transformation is very important to Vietnam./.
Experts are urging Vietnamese firms to incorporate integrity principles into their corporate governance since they believe business integrity would be the passport to global supply chains.
The implementation of free trade agreements (FTAs) will continue to prove fruitful for Vietnam in 2023, said Minister of Industry and Trade Nguyen Hong Dien.
A survey conducted by the association showed 63% of Japanese enterprises said they would continue investing in operation expansion in the next 1-2 years, reflecting that investors have great expectations for Vietnam's economic growth.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
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.
Illustrative image (Photo: VNA) 
Delegates attend the seminar. (Photo: VNA) 
Assistant to Foreign Minister Nguyen Minh Hang speaks at the event. (Photo: VNA) 
