The city identifies the goal as a priority for economic development and to ensure social welfare. Hanoi plans to provide safe water to 90% of its population in urban and rural areas by 2023 and 100% by 2025. Overview of the discussion. Photo: The Hanoi Times “The local authorities consider the target not only a priority for economic development but also to ensure social welfare,” Vice Chairman of the Hanoi People’s Committee Duong Duc Tuan set the target during a group discussion among the municipal People’s Council deputies on December 7. With 149 Hanoi neighborhoods still without access to potable water, Tuan said the municipal People's Committee had authorized the Hanoi Clean Water Company No.2 to supply water to the northern and southern neighborhoods of the city, bordering Ha Nam Province to obtain water from Ha Nam. On the wastewater treatment issue, Tuan said the city is pushing to complete the Yen Xa Wastewater Treatment Plant before 2025. “The … [Read more...] about Hanoi plans 90% safe water coverage by 2023
Euston road bicycle lane
Hanoi will continue economic restructuring efforts, promote new growth drivers, and strengthen its self-reliance and resilience to external shocks. Hanoi's regional gross domestic product (GDP) is projected to grow by 7% by 2023, above the country's target of 6.5%. Overview of the session. Photos: Thanh Hai Vice Chairman of the Hanoi People's Committee Ha Minh Hai made this forecast today [December 8] at the 10th session of the municipal People's Council. According to Hai, such a prediction is based on anticipation of the complicated global situation and the country’s GDP forecast at 6.5%. “Out of the three scenarios, the 7% growth target – a 1.08-fold higher than the national average- is deemed suitable to the situation,” Hai said. Faced with growing concern from businesses, especially the lack of access to working capital, Hai said Hanoi would continue to create policies to support economic activities while closely monitoring the global and domestic … [Read more...] about Hanoi eyes GRDP growth of 7% for 2023
Vehicles on a road in Manila, the Philippines (Photo: AFP/VNA) Hanoi (VNA) – Driven by pent-up demand from consumers, the Philippine economy is forecast to grow 7.2% in 2022 before tapering off to an average of 5.7% in 2023, according to a report released by the World Bank on December 6. The Philippines Economic Update said this year’s forecast rides on the momentum of a 7.7% growth rate in the first three quarters of 2022, buoyed by the removal of remaining restrictions on people’s mobility and business operations and the recovery of incomes and jobs. The latest project is higher than the 6.5% forecast issued by the WB in September. The report said the economy stays resilient despite an external environment full of challenges, noting that it is also facing an internal challenge which is high inflation, standing at an average of 5.4% over the last 10 months and hitting 7.7% in October. The WB update revised the GDP growth forecast for 2023 down to 5.7% from the … [Read more...] about WB upgrades Philippines’ 2022 growth forecast to 7.2%
Infographic by HSBC Since the advent of US-China trade tensions, Viet Nam has been one of the biggest beneficiaries in terms of both trade and FDI diversion, boosting its export share in the US market in particular. As a result, Viet Nam has become increasingly vulnerable to a US economic slowdown. In its recent 'Vietnam at a glance' report, HSBC said Viet Nam has been hit hard by a global trade slowdown, seeing the first meaningful year-on-year decline in its exports in two years. In particular, the decline has been led by an economic slowdown in the US, Viet Nam’s largest export destination. After over two years of booming trade, the “pay-back” time has come. Global orders have been falling sharply, taking a toll on Asian exporters. Viet Nam is no exception, and it has been on the front line in terms of feeling the pain. In November, the country saw the first meaningful year-on-year decline in its exports in two years, with broad-based weakness. In particular, shipments of … [Read more...] about HSBC: Is an export winter approaching?