By Hung Le  July 19, 2019 | 10:01 am GMT+7 A Vietnamese employee in the painting shop at an automotive plant in the northern province of Hai Duong. Photo by AFP/Hoang Dinh Nam. The Asian Development Bank maintains its Vietnam GDP growth forecast at 6.8 percent this year, and 6.7 percent in 2020, the highest in Southeast Asia. According to the ADB's Asian Development Outlook 2019 issued Tuesday, Vietnam’s growth in 2019 is being underpinned by sustained domestic demand, which saw growth of 7.3 percent in 2017 and 7.2 percent in 2018.The outlook for private consumption remains robust as households enjoy rising incomes and stable inflation, the report adds. Private investment is also likely to rise as Vietnam continues to improve its business environment and forges stronger ties with international partners through various trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) ratified last year, and … [Read more...] about Vietnam fastest-growing economy in Southeast Asia: ADB
Growing economies
Vietnam among 10 fastest-growing economies
GDP growth forecast (Source: /vietnamnews.vn) HCM City (VNS/VNA) - While growth is set to ease in 2019, Vietnam will still be among the top 10 fastest-growing economies globally, according to the “Economic Insight: South-East Asia” report recently released by the Institute of Chartered Accountants in England and Wales (ICAEW). In the report, ICAEW predicts that economic growth across Southeast Asia (SEA) is expected to slow down in 2019 to 5 percent, after an estimated 5.3 percent in 2018. It attributed the slowdown to US-China tensions. “The resulting slowdown in Chinese demand will weigh significantly on SEA growth, especially for export-dependent economies with a high level of exports to China, like Singapore and Malaysia,” the report said. Economic growth continued to moderate across most SEA economies in the third quarter of 2018, with the average GDP growth slowing to 4.8 percent year-on-year, from 5.2 percent in second quarter of 2018, it said. … [Read more...] about Vietnam among 10 fastest-growing economies
VN among 10 fastest-growing economies
While growth is set to ease in 2019, Viet Nam will still be among the top 10 fastest-growing economies globally, according to the “Economic Insight: South-East Asia” report recently released by the Institute of Chartered Accountants in England and Wales (ICAEW). In the report, ICAEW predicts that economic growth across Southeast Asia (SEA) is expected to slow down in 2019 to 5 per cent, after an estimated 5.3 per cent in 2018. It attributed the slowdown to US-China tensions. “The resulting slowdown in Chinese demand will weigh significantly on SEA growth, especially for export-dependent economies with a high level of exports to China, like Singapore and Malaysia,” the report said. Economic growth continued to moderate across most SEA economies in the third quarter of 2018, with the average GDP growth slowing to 4.8 per cent year-on-year, from 5.2 per cent in second quarter of 2018, it said. Viet Nam was the exception, with GDP growth accelerating 6.9 per cent on … [Read more...] about VN among 10 fastest-growing economies
Vietnam to feature among 5 fastest growing economies by 2030: HSBC
The Hanoitimes - By 2030, Vietnam`s GDP is expected to reach around US$500 billion from over US$200 billion in 2018. Vietnam, along with Bangladesh, the Philippines, Malaysia and Pakistan, are predicted to be the five fastest-growing economies out of 75 developed, emerging and frontier economies included in HSBC's projection by 2030. Illustrative photo. Under HSBC's latest report, Vietnam is likely to be the fourth biggest mover in the global GDP ranking (47th to 39th), ahead of Malaysia in the top five in subject. So that by 2030, the contribution to global growth from emerging Asia excluding China will be converging on that of the whole of the group of countries currently classified as developed by MSCI. By 2030, Vietnam's GDP is expected to reach around US$500 billion from over US$200 billion in 2018 and GDP per capita of US$2,015, while trade continues to remain a vital part of the economy, accounting for 184.7% of GDP. Meanwhile, Vietnam is also included in … [Read more...] about Vietnam to feature among 5 fastest growing economies by 2030: HSBC
New Zealand looks to tap growing Vietnam market
New Zealand Minister of State for Trade and Export Growth, Damien O’Connor, is on a three-day visit to Vietnam that aims to strengthen bilateral relations in several areas, particularly agriculture and trade. Minister O’Connor (in the middle) makes a kiwi cheese cake at the Fonterra company’s kitchen in Ho Chi Minh City In Ho Chi Minh City, O’Connor met with Vietnamese officials had held talks to further political links. He also visited Fonterra company, New Zealand’s largest dairy company, which has established a long, successful 31-year presence in Vietnam. Fonterra has 100 local staff and 800 nutrition advisors and sales team members. The company supplies dairy products to more than 20,000 Vietnamese retail outlets. Every day, more than 659,000 glasses of Fonterra milk are consumed across Vietnam. O’Connor joined “test kitchen” at Fonterra’s office, making a kiwi cheese cake with ingredients from Vietnam … [Read more...] about New Zealand looks to tap growing Vietnam market