Economic growth

According to him, amid the COVID-19 outbreak, the macro-economy remains stable and the monetary policy has well served macro-economic stability. Foreign exchange reserves now reach 92 billion USD and are expected to top 100 billion USD this year. August’s CPI increased by 0.07 percent. Agriculture continues to be a pillar assisting the economy and is striving for a growth rate of 2.6-2.8 percent in 2020. Vietnam also enjoyed a trade surplus of 11.9 billion USD during January-August. … [Read more...] about Substantial measures needed to achieve highest possible economic growth: PM

Reports from international organizations and the press have also highly valued the results of Doi Moi over the past three decades. The UK-based newspaper Financial Times reports that although the “darkness” is surrounding emerging economies, Vietnam is still an exception when it continues to grow relatively fast. According to figures released by the Capital Economics, since 2010 Vietnam has been one of the emerging economies that has successfully maintained a high economic growth pace in comparison to the average economic growth rate of the world. Meanwhile, results of a number of international research projects show that only Vietnam and 4 other European countries, namely Romania, Czech, Hungary and Poland, have benefited from the reduced oil prices. But when the GDP of Romania, Czech Republic and Hungary saw a modest growth rate during 2008-2014, the Vietnamese economy grew 40 percent in the period, the studies say. … [Read more...] about Part 1: The evident truth about Vietnam’s economic growth

Hanoi (VNA) - Cambodian Prime Minister Samdech Techo Hun Sen has said that strengthening globalisation and multilateral trade are crucial to supporting global economic growth and reducing poverty. The Cambodian PM made the statement at the Global Manufacturing and Industrialisation Summit which was held virtually on September 4 - 5 and co-hosted by the United Nations Industrial Development Organisation (UNIDO) and the Ministry of Energy and Infrastructure of the United Arab Emirates. In his speech, he called on countries to continue strengthening the momentum of globalisation, which has significantly contributed to economic growth and created unprecedented conditions that promote poverty reduction and livelihood of people from all walks of lives. He said in the context of globalisation, countries must ensure that their cooperative mechanism can maintain the spirit of open-mindedness and support for multilateral trade, by speeding up social and economic interlinkages to support each … [Read more...] about Cambodian PM: globalisation, multilateral trade vital for global growth

Singapore (VNA) – Economists of Singapore are more optimistic about the outlook for the country’s economy next year, with a survey showing that they expect growth of 5.5 percent on average in 2021, said the Monetary Authority of Singapore (MAS) on September 7. Overall, the 28 economists who responded to the MAS survey gave economic growth forecasts of between 4 percent and 5.9 percent for 2021. This is higher than the 4.8 percent growth for the year that they had forecast when last surveyed in June. While the respondents are more positive about next year, they are slightly more pessimistic about 2020. The economists now expect the economy to contract by 6 percent as a whole this year. In June, they had forecast a 5.8 percent decline for 2020. According to the economists, the top risk to Singapore’s growth outlook is a further deterioration of the COVID-19 situation. The escalation of tensions between the US and China was also identified as a risk, they noted, … [Read more...] about Economists optimistic about Singapore’s economic outlook in 2021

The report shows that out of 106 countries and territories investing in Vietnam in the first eight months of 2020, Singapore took the lead with US$6.54 billion, followed by South Korea (US$2.97 billion), and China (US$1.75 billion). … [Read more...] about VN to remain ASEAN’s strongest growth performer despite Covid-19 outbreak: HSBC