Generali Group CEO Philippe Donnet What is your view on the growth and outlook of the Asian economy? Where do you think Vietnam stands in this picture? The global economy is continuing its expansionary phase following the recovery from the financial crisis. Thus, most Asian countries are benefiting from a rebound in global economy supported by firm recovery in major industrial economies and strong investment growth in the region. Being one of the most dynamic emerging countries in Asia, Vietnam has seen strong economic development over the past years with 6.8 per cent GDP growth in 2017. It is forecasted to increase to approximately 7 per cent in 2018 and keep its growth momentum by 2020, driven by rapid export growth and increased domestic consumption. Moreover, with the EU-Vietnam Free Trade Agreement scheduled to be ratified in 2018, Vietnam is expected to see an influx of European investors and companies aiming to trade. It will contribute to strong foreign direct investment. … [Read more...] about Generali Group CEO: Strong belief in Generali Vietnam’s sustainable growth
How does investing promote financial growth
The Hanoitimes - Despite slowing growth, the World Bank (WB) still expects that Vietnam`s economic growth will be at around 6% in the period of 2016-2018, and will remain one of the strongest growth economies in ASEAN. On April 11, the World Bank (WB) has announced the Report on Updating East Asia and the Pacific economy, in which cutting its forecast of growth prospects for Vietnam this year and next year. Vietnam’s lenders are gathering speed, posting the second-highest growth by country in this year’s ranking of the top 100 banks in the Association of Southeast Asian Nations (ASEAN). Global financial affairs magazine The Banker of news organisation The Financial Times made the announcement in an online report this month. Vietnamese banks – 19 of which made the ranking – grew their assets by the second-highest amount, 15.66 percent, and although they still contribute a relatively small share of the total assets in the ranking, 7.46 percent, they are up … [Read more...] about Vietnam’s economy maintains strong growth in ASEAN
With the intensive care and close guidance of the Politburo, the Provincial Party Committee and the Provincial People's Committee of Quang Ninh Province is striving to build Van Don into a special administrative - economic zone with special institutions, known as a Special Economic Zone. Van Don Special Economic Zone will be a strong development drive for Quang Ninh province and a development nucleus for the southern part of Red River Delta region and other regions. Prior to the opening of the international scientific conference on the first special economic zone in Vietnam, Vietnam Business Forum has an interview with Mr Nguyen Van Thanh, Vice Chairman of the Provincial People's Committee and Head of Quang Ninh Investment Promotion and Support Centre. Ngo Khuyen and Ngoc Bach report. In recent years, many economic zones have been established across the country but they are generally being operated not very efficiently. In this context, Quang Ninh province continues piloting two … [Read more...] about Van Don Special Economic Zone- Key Growth Diver
How much more market intervention in store? (21-05-2008) by Binh Minh Customers shop at a Coopmart in An Giang. — VNA/VNS Photo Hong Ky Ha Noi — Policy makers are pondering whether to continue controlling inflation by administrative measures after June - and to what extent. June marks the expiration of a prime ministerial order for keeping a cap on the price of 10 essential goods. The order, issued in March, regulates the cost of such items as petrol, electricity, coal, water, bus tickets, cement, steel, school fees and hospital fees. It was issued following continued high monthly inflation, which reached 3.6 per cent in February and 3 per cent in March. However, the monthly Consumer Price Index growth in April stood at a relatively low 2.2 per cent. "There are some signs that the Government's efforts to control inflation have started making impacts," Asian Development Bank country director Ayumi Konishi told Viet Nam News. However, concern has been expressed that … [Read more...] about How much more market intervention in store?
The world financial crisis has directly and strongly affected the life and income of farmers. A workshop was held on Nov. 25th to evaluate effects of the global financial crisis on agriculture and rural areas of Vietnam and to work out measures on who to cope with it. That Minister of Agriculture and Rural Development announced at the workshop that the total import-export revenue of the agricultural sector so far in 2008 is 1.8 times higher than the GDP of the agricultural sector. Therefore, the world market has strongly and directly impacted farmers. Prices of exported agricultural products such as rubber, pepper, coffee and rice has decreased and the input price of fertilizer and pesticides has also fallen. The market has changed very fast recently, so there is an urgent need to discuss how to work out timely measures to cope with the crisis. Difficulties Building Up According to a report from the Ministry of Commerce and Industry, the total export revenue of the agricultural and … [Read more...] about Agriculture Sector Making an Effort to Cope with Financial Crisis