Fastest growing economies

Viet Nam is one of the two fastest-growing digital economies in Southeast Asia, with the average growth rates in excess of 40% since 2015, in which e-commerce is a key driver behind the impressive numbers. These dynamics are unlocking opportunities for entrepreneurial Vietnamese SMBs, which have jumped onboard the Internet economy to do business, says the Report Investor confidence in Viet Nam is on the rise. Over the last four years, Viet Nam’s Internet economy has attracted almost US$1 billion in funding, with 2019 in line to be a record year. Viet Nam has set goal to increase the GDP share of digital economy to 20% by 2025, according to the Resolution No. 52-NQ/TW of the Politburo on guidelines for participation in the 4th Industrial Revolution. The 2019 report covers five key sectors of the Internet economy: Online Travel, Online Media, Ride Hailing, e-Commerce, and Digital Financial Services across Southeast Asian countries. Just over a decade ago, four in five Southeast … [Read more...] about Viet Nam’s digital economy forecasted to reach US$43 billion by 2025

REMARKS BY H.E. PRIME MINISTER NGUYEN XUAN PHUC AT THE RECEPTION OF THE 74TH ANNIVERSARY OF INDEPENDENCE DAY OF THE SOCIALIST REPUBLIC OF VIET NAM (Ha Noi, August 29th, 2019) Leaders of the Communist Party, the State and the Viet Nam Fatherland Front, Excellency Dean of the Diplomatic Corps, Excellencies Ambassadors, Charges d’affaires, Heads of Office of international organizations in Hanoi, Distinguished guests, ladies and gentlemen, On behalf of the Government and the people of Viet Nam, allow me to extend my warmest welcome to you all to the Reception of the 74th Anniversary of the Independence Day of the Socialist Republic of Viet Nam.   We are enjoying the serenity of the mild sunny autumn of Hanoi. Also, 74 years ago, in this very moment, the streets of Hanoi were witnessing a most vibrant atmosphere. With the aspiration for independence and freedom, our people have risen to reclaim independence. The oath for “independence” echoed in the hearts of each … [Read more...] about Full remarks by PM Phuc at reception marking 74th anniversary of National Day

Ladies and gentlemen, At the outset, allow me to extend my warmest congratulations to His Majesty Emperor Naruhito, and express my belief that the Japanese people shall achieve even greater heights in national development during the new Reiwa period. May your country remain ever beautiful as your blooming spring under the shade of the cherry blossom. It is my great pleasure to address the 25th Future of Asia conference – a leading regional forum for policy dialogue – to discuss emerging trends, opportunities and challenges that our world is facing today, and share with you Viet Nam's efforts to contribute to the common cause of peace and prosperity. Allow me to make my contribution to our theme of “Seeking a new global order – overcoming the chaos”, as follows:  1. A new phase with its various uncertainties and challenges We are entering a phase of considerable political, social and economic uncertainty. The world is undergoing the most rapid and … [Read more...] about Deputy PM, FM Minh’s full remarks at 25th Int’l Conference on Future of Asia

Prime Minister Nguyen Xuan Phuc (second from right) and Cambodian Prime Minister Samdech Techno Hun Sen (third from right) witness the signing ceremony of a Memorandum of Understanding on investment cooperation between the Vietnamese Ministry of Planning and Investment and the Cambodian Development Council. Photo: VGP      >>> PM Phuc hosts official welcome ceremony for Cambodian counterpart Hun Sen made the call while addressing the Viet Nam-Cambodia trade and investment promotion conference in Ha Noi on Friday. The event was also attended by Vietnamese Prime Minister Nguyen Xuan Phuc. He affirmed that Cambodian Government will make greater efforts to improve business climate through holding dialogues with businesses, cutting business costs, and developing new investment law in a bid to create more favorable conditions for investors. Hun Sen pledged to meet with Vietnamese investors annually while suggesting regular meeting between the Council for … [Read more...] about PM Hun Sen supports establishment of VN-Cambodia special economic zone

Shipping containers are seen at a port in Hai Phong city, Vietnam July 12, 2018. Photo by Reuters/Kham. The Trade20 Index recently released by British lender Standard Chartered Bank ranks 20 economies out of the 66 based on 12 metrics across three pillars: economic dynamism, trade readiness and export diversity. The economic dynamism pillar was measured by inward foreign direct investments (FDI), export volume growth and GDP growth. Trade readiness refers to the market’s foundations to support future trade growth, and was measured by factors such as the quality of trade and transport infrastructure and ease of doing business, while export diversity was measured by export count. Vietnam showed the strongest progress in trade growth potential of all Southeast Asian markets, driven by improvements to its trade readiness and economic dynamism. Its improving strength in trade readiness is due to infrastructure enhancements and improvements to its ease of doing business score, … [Read more...] about Vietnam sixth in world’s trade growth potential ranking list: Standard Chartered