About gdp growth

Other sectors will also be affected, especially garment-textile, leather and footwear production. In the first three months of the year, the textile sector is expected to grow 1.9 percent, while the garment sector is forecast to contract 1.5 percent and the leather and shoe production sector is likely to expand 0.5 percent. Without COVID-19, the growth of these sectors are likely to reach 10.5 percent, 7.9 percent and 8.5 percent, respectively. … [Read more...] about VN industrial sector’s growth likely to slow down due to COVID-19

However, Prime Minister Nguyen Xuan Phuc told the government’s cabinet meeting last week on Vietnam’s socio-economic development that despite big losses caused by global economic difficulties and the nCoV, the government “has no plans to revise its growth target,” and “greater efforts must be made to reach the set target.” … [Read more...] about Government retaining prudent stance over 2020 growth targets

Bangkok (NNT/VNA) – Thailand’s International Economic Policy Committee has held a meeting chaired by Deputy Prime Minister Somkid Jatusripitak to consider the pros and cons of Thailand joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as well as gathering public input. Outcomes from this meeting will be proposed to the Cabinet for consideration within this April. The Department of Trade Negotiations’ (DTN) Director General Auramon Supthaweethum, said on February 15 that as a member of the CPTPP, Thailand may gain an additional 0.12 percent in GDP growth worth 13 billion THB. However Thailand may lose 0.25 percent in economic growth if it chooses not to join the partnership, resulting in a loss of about 26 billion THB. She said the CPTPP will provide opportunities for Thai products to hit new markets in countries without existing FTA agreement with Thailand, such as Canada and Mexico, while certain products such as rice, … [Read more...] about Thailand considers CPTPP membership

The Vietnam National Administration of Tourism (VNAT) held a conference, themed “The tourism sector copes with the acute respiratory infection which is caused by a new strain of Corona virus”, to objectively and full assess the evolution of the disease caused by Covid-19 as well as forecast the extent of damage and losses caused by the disease to the tourism sector and propose measures to quickly restore Vietnam's tourism activities as soon as possible after the epidemic is controlled. The VNAT set many solutions, including those in terms of market, tourism promotion and communication. Accordingly, in addition to urgent and long-term measures, the tourism sector will pay attention to domestic and nearby markets with convenient air routes and high growth rates including the Republic of Korea, Japan, Taiwan (China) and ASEAN. The sector will also continue to exploit potential markets such as India, while enhancing the attraction of visitors from the North America, Western … [Read more...] about BUSINESS NEWS HEADLINES FEB. 12

Đặng Ngọc Cẩn, general director of Lavifood JSC, said: “We specialise in processing fruits and vegetables for exports to fastidious markets such as South Korea, Japan, the US and the EU. To help reduce farmers’ difficulties due to the impact of the epidemic, we have increased the purchase of dragon fruit and process it into various products such as juice, dried fruit, soft-dried fruits, and frozen products. … [Read more...] about BUSINESS NEWS HEADLINES FEB. 14