The economic growth of Vietnam is expected to reach 6.9 per cent in 2018, which is slightly lower than the 7.1 per cent projected in April as exports, agriculture, construction, and mining are expected to moderate in the second half of the year, according to the predictions of the Asian Development Bank (ADB). The ADB has lowered Vietnam's growth forecast to 6.9 per cent this year According to statistics published by the ADB, the Vietnamese economy continued to perform strongly in the first half of 2018, although external and domestic challenges could affect the country’s growth outlook for this year and the next. In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2018, the ADB forecasts Vietnam’s economic growth at 6.9 per cent for 2018, while retaining its 2019 growth forecast of 6.8 per cent. Economic growth will likely hold up well in the near-term, buoyed by resilient domestic demand, improved business conditions, and … [Read more...] about Vietnam’s economic growth forecast to reach 6.9 per cent this year
Economic growth
ADB approves 7.8 bln USD credit package for Philippines’ economic growth
Illustrative Image (Source: Internet) Hanoi (VNA) - The Asian Development Bank (ADB)’s Board of Directors has approved a new six-year country partnership strategy with the Philippines, under which the bank will provide a credit package worth 7.8 billion USD to the Southeast Asian country until 2021 to support it in attaining sustained high and inclusive economic growth. According to the ADB, its programs and projects in the Philippines will focus on three priority areas, including accelerating infrastructure and long-term investments, promoting local economic development in the central and southern Philippines, and investing in people. The 7.8 billion USD package, or nearly 2 billion USD annually from 2018 to 2021, is the bank’s highest for a four-year period. Vice President Stephen Groff said that the partnership strategy aims to improve Filipinos’ living standard, particularly the poorest half of the population, and allow them to feel the benefits of a growing … [Read more...] about ADB approves 7.8 bln USD credit package for Philippines’ economic growth
Vietnam among ASEAN’s highest highest socio-economic growth: FKI Chairman
The Hanoitimes - On September 12, Vice Chairman of Hanoi People’s Committee Ngo Van Quy met with Chairman of the Federation of Korean Industries (FKI) Huh Chang Soo. Chairman of the Federation of Korean Industries (FKI) Huh Chang Soo affirmed that Vietnam is one of the fastest-growing economies in the Southeast Asian region, coupled with political stability, sufficient infrastructure, high-quality human resources, large consumption market and great potential for long-term development. And these are the reasons South Korea companies want to invest in Hanoi. Vice Chairman of Hanoi People’s Committee Ngo Van Quy met with Chairman of the Federation of Korean Industries (FKI) Huh Chang Soo. Photo: Ha Phuong The chairman of FKI stressed that information and communication technology, heavy industry and high technology are the fields South Korea companies are interested in and hope to invest in Hanoi. South Korea companies are fully able to help Vietnam in general and … [Read more...] about Vietnam among ASEAN’s highest highest socio-economic growth: FKI Chairman
South’s economic growth 1.5 times higher than country’s
A shrimp processing plant in a Southern province. The region’s economic growth for the first seven months was 1.5 times higher than the country’s. – Photo ssgp.org.vn Economic growth of the southern region for the first seven months of the year was 1.5 times higher than the national average, attracting over 60 per cent of FDI projects and contributing to 60 per cent of the national budget, according to the Ministry of Planning and Investment. During the period, the region’s Industrial Production Index rose by 9.81 per cent compared to last year. Retail and service revenue was VND1.4 quadrillion (US$61.87 billion), 12.4 per cent higher than last year and accounted for 57.8 per cent of the national figure. The region also accounted for around 47 per cent of the country’s exports, with total export value around US$62.9 billion, 12.07 per cent higher than last year. Favourable policies, simplified administrative procedures, co-operation between regions, as … [Read more...] about South’s economic growth 1.5 times higher than country’s
Economic growth in 2018 may surpass 6.7%: PM
Economic growth in 2018 may surpass 6.7%: PM Prime Minister Nguyen Xuan Phuc (standing) speaks at a regular cabinet meeting on the socioeconomic performance of the country on August 30 – PHOTO: VGP HCMC – Gross domestic product (GDP) growth this year may beat the 6.7% target, said Prime Minister Nguyen Xuan Phuc at a regular cabinet meeting on the socioeconomic performance of the country today, August 30, reported the Vietnam News Agency. Citing statistics, the Government leader forecast that of the 12 targets assigned by the National Assembly for this year, four will certainly be met while the other eight could be surpassed. He also predicted that the State budget collection would be 3-5% higher than estimated while public debts would decrease. The execution of the 2018 plan is rewarding for the country, in terms of both quantity and quality. Labor productivity, and production and business capacity, including infrastructure for healthcare and education, … [Read more...] about Economic growth in 2018 may surpass 6.7%: PM