WB: Vietnam’s economy to grow by 6.8 percent in 2018
Vietnam's economy is forecasted to expand by 6.8 percent in 2018, 6.6 percent in 2019 and 6.5 percent in 2020, according to the World Bank (WB)’s Global Economic Prospects.
A corner of Ho Chi Minh City - the southern economic hub of Vietnam (Photo: VNA)
Hanoi (VNA) – Vietnam's economy isforecast to expand by 6.8 percent in 2018, 6.6 percent in 2019 and 6.5percent in 2020, according to the World Bank (WB)’s Global Economic Prospects.
Earlier in April 2018, the bank forecastedVietnam’s economy to grow by 6.5 percent this year.
According to the bank’s latest report, growth in the East Asia and Pacificregion is expected to remain solid, slowing marginally to 6.3 percent in 2018and to an average of 6.1 percent in 2019-2020.
Conditions are mostly favourable for the regionin 2018, with robust global trade, moderate borrowing costs and sustainedcapital inflows.
Private consumption continues to be supported bysolid consumer confidence and rising household wealth, amid mild inflation.
Regional financial markets have remainedbuoyant, despite volatility in early and mid-2018 related to the prospects ofmonetary policy tightening in advanced economies and escalating trade tensions.
Bond spreads in some countries have increased,following volatility in stock markets, but remain close to low levels of 2017.
Domestic monetary conditions have tightenedsomewhat and prudential policies have kept credit growth in check.-VNA
The quality of Vietnam’s economic growth in 2011-2017 has improved in many aspects with high expansion of gross domestic product (GDP) and increasing labour productivity and incremental capital output ratio (ICOR).
Although May featured a downtrend for Vietnam’s stock market, market capitalisation still rose sharply and the market still has a good outlook in the long term, according to Chairman of the State Securities Commission of Vietnam Tran Van Dung.
Although Vietnam’s economy maintained an uptrend in the first five months of 2018, growth rates in some industries have slowed down, making it difficult for the country to achieve this year’s targets.
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 Ho Chi Minh City - the southern economic hub of Vietnam (Photo: VNA) 
