Gdp

At a meeting reviewing the 2016-2020 socio-economic developmentplan, the MoIT said the domestic market played an important role in goods consumption, contributing to poverty reduction and ensuring social welfare, evidenced by a growth of nearly 9.2 percent in retail and services revenue in the last five years. … [Read more...] about Domestic trade to contribute 13.5 percent of GDP by 2025

Also in this period, the state divested VND25.17 trillion (nearly $1.1 billion) and collected VND171.84 trillion ($7.47 billion), which was 6.8 times higher than the book value. Total money collected from equitisation and divestment since 2016 reached more than 218 trillion ($9.47 billion), which is 2.79 times higher than the total revenue from equitisation and divestment in the 2011-2015 period (about VND78 trillion or $3.4 billion). The money transferred to the state budget under the National Assembly resolution hit VND211.5 trillion ($9.2 billion) out of VND250 trillion ($10.87 billion), tantamount to 85 per cent of the plan for the 2016-2020 period. … [Read more...] about How to drive the economy by reforming state-owned debt

Hanoi (VNA) – The Philippines has so far secured a total of 8.83 billion USD in borrowings, loans and grant assistance for the government's COVID-19 response efforts from its development partners and the commercial markets, China’s Xinhua News Agency reported. The Philippine Department of Finance (DOF) said on September 6 that of the total amount, 5.98 billion USD  is budget support financing from the Asian Development Bank, the World Bank, the Asian Infrastructure Investment Bank, the French Development Agency and the Japan International Cooperation Agency. A total of 2.35 billion USD was sourced from the government's latest global bond offering that fetched its lowest ever coupon in the USD market, the DOF added. The DOF said the remaining 496.36 million USD is from grant and loan financing from the Philippines' development partners for various COVID-19 specific projects. Finance Secretary Carlos Dominguez said that total government borrowings for 2020 and 2021 … [Read more...] about Philippines secures over 8.8 bln USD for COVID-19 response

Mark Billington, ICAEW regional director for Southeast Asia, said that the road to economic recovery in Southeast Asia will be long due to the tensions between the US and China, a long-term slowdown in global trade activity, and the potential of a prolonged COVID-19 pandemic. … [Read more...] about Vietnam recovery prospects brightest in Southeast Asia: ICAEW

Well over half also reported falling pre-tax profits, with 31 percent saying they fell significantly or even suffered losses, according to the report released on Thursday by market research firm Vietnam Report (VNR). … [Read more...] about Covid-19 takes heavy toll on Vietnamese firms’ incomes: survey