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Projected GDPs for ASEAN+3 countries. Vietnam is forecast to be the second fastest-growing economy in the region this year. (Photo amro-asia.org) Hanoi (VNS/VNA) – Vietnam is expected to come out second only to the Philippines in terms of projected GDP for 2022 and on top for 2023, according to a recent Quarterly Update of the ASEAN + 3 Regional Economic Outlook. Specifically, the country was projected to achieve a growth rate of 6.3% this year and 6.5% next year, well above the region-wide figures which were estimated at 4.3% and 4.9% respectively. Compared to the previous update, Vietnamese growth rates were revised downwards to reflect the lower growth forecasts for China and the US, its major trade partners. The country was expected to top the list with growth rates of 6.5% and 7.0% in the April update. “Vietnam is a much more open economy and very exposed to the US and Chinese economies. Because we are expecting reductions in growth rates in these countries and … [Read more...] about Vietnamese economy to perform well: AMRO

Projected GDPs for ASEAN+3 countries. Viet Nam is forecast to be the second fastest-growing economy in the region this year. — Photo amro-asia.org Viet Nam is expected to come out second only to the Philippines in terms of projected GDP for 2022 and on top for 2023, according to a recent Quarterly Update of the ASEAN +3 Regional Economic Outlook. Specifically, the country was projected to achieve a growth rate of 6.3 per cent this year and 6.5 per cent next year, well above the region-wide figures which were estimated at 4.3 per cent and 4.9 per cent respectively. Compared to the previous update, Vietnamese growth rates were revised downwards to reflect the lower growth forecasts for China and the US, its major trade partners. The country was expected to top the list with growth rates of 6.5 per cent and 7.0 per cent in the April update. “Viet Nam is a much more open economy and very exposed to the US and Chinese economies. Because we are expecting reductions in growth rates … [Read more...] about Viet Nam to do well economically this year and the next: AMRO

At the sixth plenary session of the 10th tenure People’s Council of HCMC The statement was made by deputy Tang Huu Phong , Editor-in-Chief of the Sai Gon Giai Phong (SGGP) Newspaper at the sixth plenary session of the 10th tenure People’s Council of HCMC on July 6. Vietnam Bank for Social Policies (VBSP) has temporarily suspended receiving loan application documents from disadvantaged borrowers because of the shortage of loan capital, he added. Deputy Tang Huu Phong, Editor-in-Chief of the Sai Gon Giai Phong (SGGP) Newspaper speaks at the meeting. Deputies at the meeting also suggested that the municipal government must strengthen public investment disbursement effectively to create jobs for people and socioeconomic impulse for the city as well as speed up investment promotion. Deputy Doan Thi Ngoc Cam, Standing Vice Secretary of the Party Committee of Can Gio District proposed the city give the authority to Chairpersons of the People’s Committees of districts … [Read more...] about Deputies concern with pandemic pushing needy people into extreme poverty