Albania economic growth

Production at Toyota Vinh Phuc (Photo: VNA) Vinh Phuc (VNA) – The northern province of Vinh Phuc saw good economic growth in the first nine months of this year with high results in the majority of areas. The locality recorded a gross regional domestic product (GRDP) growth of 8.63 percent year on year in the reviewed period, with the industrial sector expanding by 13.01 percent, reported the provincial Department of Statistics. Among major industrial sectors of the province, electronic accessories production grew 45.55 percent in the period. Meanwhile, the service sector continued to record stable development with year on year rise of 6.98 percent, contributing 1.38 percent point to the overall growth of Vinh Phuc. As of September 24, the province’s State budget collection reached over 24.76 trillion VND (nearly 1.1 billion USD), fulfilling 89.09 percent of the plan. At the same time, the consumer price index (CPI) of Vinh Phuc rose 1.32 percent compared to the same … [Read more...] about Vinh Phuc enjoys high economic growth so far

Illustrative image (Photo: VNA)     Hanoi (VNA) – Experts from the Vietnam Institute for Economic and Policy Research (VEPR) have forecast that economic growth will reach 7.26 percent for the fourth quarter and 7.05 percent for 2019, compared to 6.6 – 6.8 percent as assigned by the National Assembly. During a conference on October 10 to announce the macro-economic report, the VEPR reviewed the second-quarter macro-economic performance and quoted statistics from the General Statistics Office as saying that the Vietnamese economy grew by 7.31 percent in the third quarter. Economist Can Van Luc highlighted bright spots in exports, improved competitiveness and lesser reliance on banking credit. According to Luc, credit contributed to 57 percent of the total social investment during the 2016 – 2017 period, which was reduced to about 46 percent in 2018 and in the first nine months of 2019, proving that private capital and foreign direct investment have … [Read more...] about Vietnam’s economic growth predicted to be higher than target

The Bank of Thailand feels upbeat about the country's economic growth in Q3. (Photo: bangkokpost.com) Bangkok (VNA) – Thailand’s economic growth in the third quarter is likely to improve from the second quarter’s reading, mainly thanks to positive tourism growth and the government’s economic stimulus measures, according to the Bank of Thailand. Senior Director at the BoT’s macroeconomic and monetary policy department Don Nakornthab said GDP growth in the third quarter is expected to surpass 2.3 percent, which was recorded in the second quarter, and the economic expansion was supported by the government’s stimulus package, growth in the tourism sector and exports. Thailand’s economy grew at the slowest pace in almost five years in the second quarter as exports and tourism deteriorated, buffeted by the US-China trade tensions and the strong Thai baht. GDP rose 2.3 percent from a year ago, down from 2.8 percent in the first quarter, the … [Read more...] about Bank of Thailand upbeat about economic growth in Q3

Industry 4.0 technologies are revolutionising most of the countries economic sectors The latest report on Vietnam Digital Marketing by Andrews University showed that 64 million Vietnamese people use the internet, an increase of 28 per cent compared to 2017. There are 143.3 million mobile subscriptions and, on average, each person owns 1.4 mobiles. In 2019, mobile payment growth increased by 232 per cent in value and 98 per cent in volume over the same period last year. In particular, the proportion of consumers paying with mobile in Vietnam has risen to 61 per cent from 27 per cent in 2018. Meanwhile, the latest report on the digital economy in Southeast Asia published by Google, Temasek, and Bain & Company showed that Vietnam’s digital economy would reach $12 billion in 2019, leading the area along with Indonesia. According to the Ministry of Science and Technology, in 2015, the digital economy in Vietnam was worth $3 billion, and now has reached $9 billion. The … [Read more...] about Swift digital revolution drives Vietnam’s economic  growth

Singaporean Prime Minister Lee Hsien Loong (Photo: bloomberg.com) Singapore (VNA) – Singaporean Prime Minister Lee Hsien Loong said on October 16 that the city-state’s economy will hopefully grow slightly in 2019. Speaking at the 2019 Forbes Global CEO Conference, Lee said Singapore’s economy will expand less than 1 percent this year. “If we are lucky, we should be above zero but the momentum has substantially diminished.” The trade-reliant economy, seen as a bellwether for global growth, is facing uncertain times due to the China-US trade war and a global economic slowdown. The city-state narrowly dodged recession in the third quarter, data showed this week, and its central bank eased monetary policy for the first time in three years. In the third quarter of 2019, Singapore’s GDP growth reached only 0.6 percent, reversing from the minus 2.7 percent recorded in the second quarter./. VNA … [Read more...] about Singaporean PM forecasts slight economic growth in 2019