Economic growth rate

Vinh Phuc (VNA) – The northern province of Vinh Phuc’s industry has been growing to become a key economic sector that contributes greatly to the local gross regional domestic production (GRDP). According to the provincial People’s Committee, nine out of 20 industrial parks and clusters approved by the Prime Minister have become operational. The locality has had more than 10,500 businesses. In the 2015-2020 period, the average growth of the province’s industrial-construction production value is estimated to reach 12.1 percent per year, nearly doubling the target set at the resolution released at the 16th Party Congress of the province. The sector also makes up more than 65 percent points to the whole economic growth of the province. The added value of the processing-manufacturing sector of the province accounts for 4.5 percent of the added value of the sector in the whole country. Meanwhile, electronic spare parts have been the leading export products of … [Read more...] about Industrial sector helps promote Vinh Phuc economic growth

Quang Ninh (VNA) - Investment in industrial parks (IPs) and economic zones (EZs) has become a new driver of growth in the northeastern province of Quang Ninh, with local authorities issuing various policies to attract investors. According to experts, Quang Ninh is considered a strategic investment destination in Vietnam’s northern region and an important link in the Hanoi - Hai Phong - Quang Ninh northern economic growth triangle. The province possesses major advantages, with Van Don district to become a multi-sectoral marine economic zone and an entertainment centre, with a casino, high-end sea-island tourism, and general services. The province has planned to develop eleven IPs and four EZs that together span over 368,000 ha, accounting for more than 30 percent of Quang Ninh’s total natural area. Six of the 11 IPs have already been issued investment registration certificates and have infrastructure invested in and leased. Investors have so far poured about 27.35 … [Read more...] about Industrial parks, economic zones create new growth momentum in Quang Ninh

HCM City needs strong determination to become a regional economic hub: top leader Party General Secretary and President Nguyen Phu Trong asked the Party Committee of HCM City to show stronger determination to build the city into a key regional economic and financial hub in draft documents of the city’s Party Congress. … [Read more...] about Thu Duc City set to be new growth pole for HCM City

The rating agency also predicted that Việt Nam’s foreign reserves will increase to some US$66 billion by the end of this year from $49 billion in 2017, while the general government debt is likely to decline to below 50 per cent of the gross domestic product (GDP) by 2019. … [Read more...] about Fitch raises rating for Việt Nam

At the seminar, Dr. Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy, said that the Covid-19 pandemic can be considered a test because, in the future, there might be many changes with greater influences in the context that economies in the globe are increasingly interconnected, tied, and relied on each other. The Vietnamese economy is under great pressure from the poor demand for goods, products, and services, and now faces the risk that the supply capacity is affected. According to Dr. Vo Tri Thanh, after two investigations, only 2 percent of enterprises have not been affected. The vast majority of enterprises have not had enough cash flow of revenues and expenditures, and many of them have ceased operation or gone bankrupt. With the same point of view, Mr. Pham Binh An, Deputy Director of the Ho Chi Minh City Institute for Development Studies, said that up to 84 percent of HCMC-based enterprises have been facing difficulties, and only 10 percent of … [Read more...] about Economic reopening helps enterprises to recover