Laos’ economic growth may reach 7 percent in 2018: expert

China recorded a year-on-year economic growth of between 7-8 percent in the first nine months of 2009. Chinese officials conclude the government’s 586-billion-USD stimuluspackage unveiled in November last year has had its intended effect onthe country’s economic recovery. It is believed that the country will achieve its full-year goal of 8percent, an important factor for generating more jobs and ensuringsocial security. The world’s third-largest economy recorded a growth of 7.1 percent inthe first half of this year, after growing 6.1 percent in the firstquarter and 7.9 percent in the second. The global economic recession drove down Chinese exports and restrainedthe…... [read more]

The National Assembly underlined that the average economic growth from 2011 to 2015 was only 5.9 percent, much lower than the targeted 7 percent. The country expects economic momentum to pick up in the next five years, which will greatly improve the average annual income to $3,500 in 2020, equivalent to a 70 percent increase from the average income of $2,109 in 2015, according to the plan. Vietnam will also try to keep its budget deficit under 4 percent of GDP by 2020. The country’s lawmakers have tried to place a cap on the budget deficit, however state budget expenditure…... [read more]

There were signs of economic growth slowdown, said Mr. Lam at a press conference on GDP, Labor, and Employment in Q1, 2016 which took place on March 25 in Ha Noi. Strong export competition According to Mr. Lam, in Q1, the domestic economy encountered with numerous challenges due to complicated economic development, unpredictable oil prices and monetary and financial situations in the global market. Market competition in terms of output and input production costs among countries with similar production capacities became hotter, said the Director General. In addition, the record cold weather in the North, serious droughts in the Central and Central Highland Regions, saltwater intrusion in the Mekong…... [read more]

The Bank of Thailand (BoT) has raised its forecast for the country’s economic growth in 2017 to 3.9 percent from 3.8 percent (Photo VNA)Bangkok (VNA) – The Bank ofThailand (BoT) has raised its forecast for the country’s economic growth in2017 to 3.9 percent from 3.8 percent.The central bank also forecast the Thai economywill expand by 3.9 percent in 2018, up from its previous estimate of 3.8percent growth.According to the bank, export - the main driverof the country - will increase by 9.3 percent this year, surpassing theanticipated level of 8 percent.In 2018, Thailand’s export is likely to rise by4 percent, higher…... [read more]

A garment factory in Phnom Penh (Photo:Internet)Phnom Penh (VNA) – The Cambodian economic growth will continue to reach about 7 percent annually over the next three years, according to the Global Economic Prospects report released by the World Bank on January 7.This year’s projection for economic growth is about 6.9 percent, while that of 2017 and 2018 is forecast at about 6.8 percent.According to economists, the country’s economic growth will decrease slightly compared to the robust growth of the past period, as the agricultural product prices will decline due to the impact created by the Trans-Pacific Partnership (TPP), of which…... [read more]

US companies upbeat about Vietnamese market S&P highlights Vietnam’s economic improvementsHowever, there remain challenges preventing the nation from reaching the targeted growth rate. Curbing inflation Although the consumer price index (CPI) in August inched up 0.63 percent after two consecutive months of decline, it remains relatively low compared to the same period recorded over the last eight years.Therefore, it appears likely that the CPI will sit at around 7-8 percent, conistent with the set target. To have inflation contained at a single-digit figure will be one of the most significant economic achievements for 2012.inflation is likely to raise its ugly…... [read more]

The State Bank of Vietnam reduced its lending interest rate by 0.25 percent to 6.25 percent last Friday for the first time in three years, but at the same time cut deposit rates to 4.25 percent from 4.5 percent. The changes came into effect on Monday. The central lender said the move aims to boost economic growth. “Vietnamese companies still rely heavily on bank loans. We just need to be mindful about how the loans will be used to avoid increasing bad debt.” Do Ngoc Quynh, head of treasury at the Bank for Investment & Development of Vietnam in Hanoi,…... [read more]

EU Trade Commissioner Cecilia Malmstrom (the sixth from the left) and ASEAN member nations' economic ministers at a meeting in Manila, the Philippines (Source:EPA/VNA)Hanoi (VNA) – Economic growth iscritical as the engine that drives rising incomes and prosperity of ASEANmember nations, according to Justin Wood, head of Asia-Pacificat the World Economic Forum (WEF). In his article titled “ASEAN at 50:youth, technology and growth” recently published on Indonesia’s Jakarta Globe website, Wood gave areview of the group’s formation and development process, and its proudachievements over the last five decades.The year 2017 sees ASEAN celebrating its 50th anniversary, which isalso a moment…... [read more]

Prime Minister Nguyen Tan Dung has said he is confident in the prospects for economic growth in 2013.The Government leader made the remarks at a regular cabinet meeting on September 5, which discussed the socio-economic situation in August and measures to meet targets for the remaining months of the year.Positive signs for the economyAccording to cabinet members, Vietnam’s socio-economic situation in August saw various positive signs of development.The consumer price index (CPI) in August bounced back to 0.63 percent after two consecutive months of decline, bringing CPI growth in eighth months to 2.86 percent compared to 2011 and 5.04 percent…... [read more]

Vietnam’s economy has to pick up speed in the second half of 2016 to offset slowing growth in the first half, otherwise the country will find it hard to reach its growth target of 6.7 percent for the whole year, Nguyen Bich Lam, head of the General Statistics Office, said in an interview with the Vietnam News Agency. The Vietnamese government has set a growth rate target for 2016 of 6.7 percent, but achieving this target will not be easy due to several obstacles, said Lam. Vietnam's economy slowed in the first six months of 2016 after an historic drought took…... [read more]