Growing economy

The Vietnamese Government has made efforts to create favorable conditions for local and foreign businesses to ensure their long-term operation. Vietnam's strong economic fundamentals and bright prospects remain a pull factor for foreign investors. Production of electronics parts at 4P Company in Bac Ninh Industrial Park. Photo: Pham Kien In November, the International Finance Corporation completed the disbursement of a loan worth VND3.7 trillion (US$150 million) to Vietnam Prosperity Commercial Bank (VPBank). The five-year loan would help VPBank have more resources to address the urgent credit needs of small and medium-sized enterprises (SMEs), women-led businesses, and environmental protection and climate change response projects in the country. In the context that the world economy and Vietnam are facing several challenges, the disbursement of the $150 million loan to VPBank affirmed the bank’s capacity and reputation in the international arena, noted … [Read more...] about Vietnam stands as credible partner for foreign investors

According to Khoon Goh, head of Asia Research at ANZ, Vietnam’s economic growth was stronger than expected in 2022, as exports have remained robust and domestic demand performed well. GDP growth looks set to exceed 7 per cent for 2022. However, its growth will slow in 2023 as the impact of the global slowdown starts to filter through. “Vietnam’s exports contracted in November, and will struggle over the first half of next year given weak external demand. The recent troubles with the property sector are also set to weigh on construction activity. We see growth slowing to 5 per cent next year as a result,” he said. In the same vein, Vince Conti, an economist at S&P Global Ratings said, “Vietnam is an economy that is far outperformed the rest of the world, and frankly, everyone else has expectations for Vietnam itself this year. Its export-led growth has been so strong that even with an external demand-driven slowdown starting in late third and fourth quarter, the full year … [Read more...] about Vietnam maintains appeal despite economic headwinds

At the working session between Deputy Minister of Foreign Affairs Pham Quang Hieu and Secretary General of the Ministry of Industry, Trade, and Supply Dana Al-Zoubi (Photo: VNA) Hanoi (VNA) – Deputy Minister of Foreign Affairs Pham Quang Hieu paid a visit to Jordan from December 7-8 to consolidate and foster cooperation between Vietnam and the Middle East nation. While in Jordan, the Deputy FM held talks with Secretary General of the Jordanian Ministry of Foreign Affairs and Expatriates Leena Al-Hadid, and had working sessions with Secretary General of the Ministry of Industry, Trade, and Supply Dana Al-Zoubi and Secretary General of the Ministry of Investment Zaher Al-Qatarneh. At the meetings, the two sides noted with pleasure the positive development of the bilateral ties. Hieu spoke highly of the phone talks between the two foreign ministers last June and thanked Jordan for its timely support to Vietnamese victims in the toxic gas leak at Aqaba port in … [Read more...] about Vietnam, Jordan seek ways to bolster cooperation