“The banking system pledges to supply adequate capital for the economy, keep stable foreign exchange rates and is ready for necessary measures to intervene in the market if there were developments threatening macro-economic stability,” Hung said. … [Read more...] about Stronger money policies might be considered to aid economic growth
Post independence growth of indian economy
In the economic outlook for the second quarter entitled “Darkest before the dawn”, the bank said the manufacturing sector, which accounts for one-third of the country’s GDP, is expected to grow only 3 percent this year compared to 11 percent in 2019. … [Read more...] about Standard Chartered Bank: Vietnam’s 2020 economic growth to fall to 3.3 pct.
Hanoi (VNA) - Bloomberg newspaper said on June 29 that Vietnam’s economy unexpectedly grew in the second quarter despite the impact of COVID-19. It cited data from the General Statistics Office (GSO) as saying that GDP rose 0.36 percent year-on-year compared to a revised 3.68 percent in the first quarter. The median estimate in a Bloomberg survey of economists was for GDP to shrink 0.9 percent. On a six-month calculation, GDP grew 1.81 percent, making Vietnam one of the best performers in Southeast Asia. Exports fell 2 percent in June compared to a year earlier, while imports climbed 5.3 percent. The CPI rose 3.17 percent year-on-year in June and 2.4 percent month-on-month. The government aims to cap average inflation at 4 percent this year. The article said Vietnam’s export-reliant economy is taking a knock as the virus disrupts global supply chains and dampens demand, and added that Prime Minister Nguyen Xuan Phuc had forecast in May that the economy could post … [Read more...] about Bloomberg: Vietnam’s economy grows unexpectedly in Q2
HCMC Party Committee Secretary Nguyen Thien Nhan speaks at the meeting – PHOTO: VNA HCMC - HCMC’s contribution to the state budget has been increasing continuously over the past 20 years but its economic growth has slowed down compared to other localities, HCMC Party Committee Secretary Nguyen Thien Nhan said at a meeting this morning, July 7. … [Read more...] about HCMC’s contribution to state budget increases despite slower economic growth
High-quality flower production models in the provincial capital of Bac Giang city, which have consumption links with businesses and cooperatives, earn revenue of 3-5 billion VND per hectare per year, or 2-3 times that of normal planting. Meanwhile, each hectare at orange orchards in Luc Ngan district that apply VietGAP production processes records average annual turnover of 500-700 million VND. The most outstanding is a 5-ha farm belonging to Bui Duc Long in Hong Giang commune, which records annual revenue of 5.4 billion VND. Using drip irrigation technology, biological fertiliser, and pesticides and following VietGAP standards, a tea production model in Yen The district also enjoys a 20-30 percent annual increase in productivity and revenue. The success of the model helped expand the district’s tea growing area to 530ha, with a combined output of over 4,300 tonnes a year. Bac Giang has also applied VietGAP and GlobalGAP standards in cultivation on 39 percent of fruit orchards … [Read more...] about Bac Giang developing hi-tech agriculture to foster economic growth