Challenges ahead for 2018 economic growth

HÀ NỘI — In their latest report, experts at the Australia and New Zealand Banking Group (ANZ) are optimistic about Việt Nam’s 2018 economic situation. They have taken into consideration expectations of higher GDP growth rate, restored export and industrial growth attracting FDI inflows, and improving bad debts since the past three years. Speaking at a press announcement on Thursday, Eugenia Victorino, ANZ’s economic specialist for the Greater Mekong Subregion and Southeast Asia, said that ANZ Research Unit’s GDP growth forecasts for Việt Nam have been adjusted from 6.5 per cent to 6.7 per cent, matching the government’s set goal.…... [read more]

NDO - The gross regional domestic product (GRDP) of Thai Binh province in 2017 has increased by 11% compared to 2016, making it one of the three provinces and cities in the Red River Delta region to post the highest economic growth in 2017. The information was announced by Chairman of Thai Binh provincial People's Committee Nguyen Hong Dien at the working session with Deputy Prime Minister Truong Hoa Binh, in Thai Binh, on December 21.Dien noted that 2017 is also the second consecutive year that the province has recorded a two-digit economic growth rate.In addition, the province reported total…... [read more]

The Hanoitimes - In the program “Business Night 2017” recently held in Hanoi, the authority emphasized that small and medium-sized enterprises are the driving force for the Capital’s socio-economic development. The program drew the participation of Vuong Dinh Hue, Politburo member and Deputy Prime Minister (PM); Nguyen Duc Chung, member of the Party Central Committee, Deputy Secretary of the Ha Noi Party Committee and Chairman of the municipal People’s Committee; Vu Hong Khanh, Chairman of the Vietnam Fatherland Front’s Hanoi chapter, representatives of departments, sectors, agencies and outstanding entrepreneurs. Vice Chairman and General Secretary of the Association Mac Quoc Anh…... [read more]

City deputies still concerned over economic growth in H2Van Nam By Van Nam - The Saigon Times Daily HCMC - Despite positive improvements in the first half of this year, HCMC is still coping with a host of challenges in the second half, said Nguyen Thi Quyet Tam, chairwoman of the HCMC People’s Council. Tam raised the concern given the adverse impacts of China’s illegal placement of its oil drilling rig in Vietnam’s waters in the East Sea at the 14th session of HCMC People’s Council which opened on July 8 morning. At the opening day of the session, deputies…... [read more]

High inflation erodes economic growthBy Pham Vu and Minh Tam - The Saigon Times DailyConsumer prices are forecast to grow 1.98% this month, the highest monthly rise this year, which strong affects the year’s CPI, according to the General Statistics Office.Experts told local media they were not surprised as the market trends had shown the impossibility that inflation could be kept at a single-digit rate of 7% as approved by the National Assembly.The sharp CPI increase in the last quarter of the year is ascribable to poor management of money supply on the market, Le Dinh An, director of the…... [read more]

During a visit to the province on March 11-12, Mr Trong acknowledged the socio-economic achievements that the local Party, administration and people have made since Binh Phuoc was re-established in January 1997. He analysed difficulties and challenges facing Vietnam and Binh Phuoc in 2009 and asked the province to effectively implement the Party’s resolution on agriculture, farmers and rural development as well as the Government’s measures to maintain steady economic growth and ensure social welfare. “Along with economic development, the province should seek ways to improve local people’s physical and spiritual lives and harmoniously settle pressing social issues such as…... [read more]

Shosuke Mori, senior managing executive officer at Sumitomo Mitsui Banking Corporation, told yesterday’s Nikkei-led forum on Vietnam’s growth outlook in Hanoi that the Vietnamese economy boasts great potential for higher growth with higher quality.“The Vietnamese economy has been consistently growing over 20 years. Vietnam is the only country among the ASEAN-5 that has consistently achieved more than 5 per cent growth since 2000,” Mori said.According to him, along with this high growth, Vietnam’s economy has undergone transformational changes since 1990. The country’s GDP per capita has grown by 22-fold, from $98 in 1990 to $2,172 in 2016, and nominal GDP…... [read more]

Cambodia’s economy is forecast to grow 6.9 percent next year. (Photo: Penh (VNA) – Cambodia’s economy is forecast to grow 6.9percent next year, higher than a projected 6.8 percent increase in 2017,despite risks including uncertainties over the 2018 elections, the World Bank(WB) said on November 22.The country’s economic growth has hovered around 7 percent for the past sixyears.The WB said textile exports moderated and construction sector showed signs ofslowing down; however, manufacturing exports increased and Cambodia drew moretourists, particularly those from China.Outlook for Cambodia’s economic growth remains positive, but a possibleslowdown of the regional economy, especially China, and potential…... [read more]

The world saw a sluggish year in 2012 with slower-than-predicted growth, adversely affecting the Vietnamese economy given its much greater integration into the global economy. Despite recording some encouraging achievements, the Vietnamese economy did not flourished as expected in 2012. The slowdown poses new challenges to policy makers on how to drive the country out of stagnation and boost economic expansion. 2012: HighlightsIn 2012, the Government adopted a package of measures aimed at reviving the economy and initially achieved some results managing to bring inflation under control, reducing the trade deficit, replenished foreign reserves and improving the balance of payments.…... [read more]

The draft instruction also states that state budget revenues would contribute around 21 percent of GDP in 2018. Domestic revenue estimates (excluding revenues from crude oil, land use fees and lottery receipts) are expected to increase by an average of 12-14 percent over the estimate for 2017, while estimated revenues from import-export activities are expected to increase by an average of 5-7 percent compared to the estimate for 2017.Next year is the mid-term of the five-year socio-economic development plan for the 2016-2020 period, which is important in accelerating the achievements of the five-year socio-economic development objectives for 2016-2020 and the…... [read more]