Forecasting gdp growth

Workers of the Lazada e-commerce platform sort goods before delivery (Photo: VNA) Hanoi (VNA) – A strategy for developing domestic trade between 2021 and 2030 has been signed off by Deputy Prime Minister Le Van Thanh, aiming to raise domestic trade’s proportion in the country’s GDP to 15 - 15.5 percent in the next 10 years. Under the strategy, domestic trade will grow by an average 9 - 9.5 percent a year, and retail sales of goods and consumer service revenue by 13 - 13.5 percent during the period. By 2030, domestic trade via e-commerce is expected to increase by about 20 - 21 percent annually to account for 10.5 - 11 percent of total retail sales of goods and consumer service revenue. The percentage of small- and medium-sized enterprises involved in trading activities is hoped to surpass 40 - 45 percent. The strategy looks to achieve fast and sustainable growth of domestic trade, build brands for Vietnamese goods, and protect the interests of consumers, businesses, … [Read more...] about Domestic trade to make up 15 percent of GDP by 2030

Pandemic-hit HCM City looks to sustain growth momentum this year Ho Chi Minh City, the biggest economic hub in southern Vietnam, aims to sustain growth momentum in the remaining months of 2021 even when it is battling the worst-ever COVID-19 resurgence which began in late May. Data from the municipal Statistics Office, the city’s Gross Regional Domestic Product (GRDP) grew 5.46 percent year-on-year in the first half of this year. Total retail sales of goods and services reached about 542 trillion VND (23.5 billion USD), up 7.3 percent year-on-year. Budget revenue exceeded 198.56 trillion VND, up 20.7 percent and representing 55.7 percent of the yearly plan. Its Industrial Production Index (IIP) picked up 5.9 percent during the period, with growth seen in all four key industries – food and beverage (1.2 percent), pharmaceutical chemistry (2.6 percent), electronics (15.6 percent), and mechanical engineering (10.7 percent). This year, HCM City sets to achieve … [Read more...] about VIETNAM BUSINESS NEWS JULY 25

Golden Gate Ventures forecasts tremendous growth in the Southeast Asian startup scene, with Vietnam being one of the focal points Golden Gate Ventures highlighted Vietnam as the rising star in Southeast Asia's startup landscape. According to the latest report by the venture capital firm, Vietnam has already solidified its growing prominence in the region. In 2022, the number of Southeast Asia-focused venture capital funds will put more effort into early stage investments in Vietnam, and it will continue to grow in the next 10 years. There are five industries in Vietnam that are predicted to catch foreign investors' attention, including e-commerce, financial services, online media, online travel, and food and transport. Emerging home-grown startups include Tiki.vn, Sendo, MoMo, Giaohangnhanh (GHN), Lozi, VNPAY, and others. According to the report, capital flowing into the Southeast Asian startup scene grew phenomenally over the past decade with total capital invested per annum … [Read more...] about Vietnam to grow into third-largest startup ecosystem in Southeast Asia

In June the central bank allowed VietinBank to increase its charter capital from VND37.2 trillion (US$1.6 billion) to over VND48 trillion ($2.1 billion) by paying dividends in shares for 2020. — Photo vietnamplus.vn At least around seven billion shares issued as dividends, under employee stock ownership plans and public issuances by banks are expected to enter the stock market in the two remaining quarters of the year. They include MB and Vietinbank with nearly two billion shares. In June MB shareholders approved the 2020 dividend payout of 35 per cent in shares. Also in June the central bank allowed VietinBank to increase its charter capital from VND37.2 trillion (US$1.6 billion) to over VND48 trillion ($2.1 billion) by paying dividends in shares for 2020. SHB offered 175 million shares for sales to the public at the same time. Besides, more than 540 million shares were issued as dividends at the rate of 25 per cent by ACB, 443 million bonus shares at the rate of 40 per … [Read more...] about More bank shares to hit stock market on bonuses, public issues

Illustrative image (Photo: Vietnam Plus) Land prices cool down, property market well adapts During a online ceremony to announce reports on the real estate market in the second quarter of 2021 and the outlook for the market trend in the last six months of the year on July 6, Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said the economic growth rate in general and the demand for Vietnam's real estate market in particular in the second quarter were still very positive. The number of newly established real estate businesses in the second quarter of 2021 increased by 45 percent compared to the first half of 2020. The registered capital also increased by 24 percent. In terms of economic growth, Vietnam's average GDP reached 6.61 percent andreal estate business grew by 4 percent over the same period last year. These figures show that despite the epidemic, Vietnam is still controlling stable economic development. For more detailed information about the real … [Read more...] about Real estate during pandemic: bouncing back once COVID-19 pushed back

With distinctive digitally-driven initiatives, MB is executing new banking propositions that uphold its role as one of the largest, most prestigious financial behemoths in Vietnam Military Commercial Joint Stock Bank (MB) held its online Analyst Meeting on July 22. The event saw the participation of 300 guests, including representatives of 90 domestic and international investment funds and 30 securities firms, both domestically and internationally. The meeting discussed MB Group’s achievements in the first six months of the year and important strategic goals in its next phase of development. Although the COVID-19 pandemic has exerted adverse pressure on the whole economy, MB Group has proven resilient by maintaining stable operations and upbeat business performance. By the end of the second quarter, MB achieved total consolidated assets of more than VND523 trillion ($22.74 billion), up 5.65 per cent compared to the end of 2020. Its total operating income in H1 reached … [Read more...] about Financial behemoth MB Group likely to secure $5 billion in revenue by 2026