The Hanoitimes - The long-overdue preferential treatment for the FDI sector has disrupted the economic model, while Vietnam’s effort to privatize state-owned enterprises is lagging behind schedule. Fulbright expert calls for special attention to private sector in Vietnam's economy Private sector contributes to Vietnam's swelling foreign debt: Deputy PM Vietnam gives priority to developing private sector: PM Private sector holds significance for Vietnam economy: Investment minister Experts said non-market based policies are restricting the development of Vietnam’s private sector and undermining competition in the business environment. Overview of the conference. Source: Ngoc Thuy. An unclear role definition of each economic component has led to unfair treatment and inefficient allocation of resources, said Bui Quang Tuan, head of the Vietnam Institute of Economics at a conference on March 15 discussing the development prospect of … [Read more...] about Non-market based policies restrict development of Vietnam’s private sector: Experts
Vietnam economy overview
US – Vietnam normalization opens up multi-billion-dollar opportunities
The Hanoitimes - Over the past 25 years, the bilateral trade turnover between the two countries has increased by 120-fold, from US$450 million in 1994 to US$60 billion in 2018. Vietnam sets sight at more balanced trade with US: PM US officials continue working with Vietnam partners amid growing economic ties Vietnam may reap benefits from US companies leaving China: AmCham The normalization in the US – Vietnam economic relations has opened up new opportunities worth multi-billion dollars for investors from both countries, according to Natasha Ansell, chairwoman of the American Chamber of Commerce in Vietnam (Amcham). Overview of the meeting. Source: VGP. Ansell made this statement at the meeting celebrating 25th anniversary of the normalization of the US-Vietnam economic relations held on January 18 with the attendance of Vietnam’s Deputy Prime Minister Vuong Dinh Hue and former US Secretary of State John Kerry. On this occasion, Ansell … [Read more...] about US – Vietnam normalization opens up multi-billion-dollar opportunities
Vietnam growth structure transformed in 2018: Experts
The Hanoitimes - The economic growth quality has been improved towards sustainability. Vietnam's GDP growth in 2018 hits 10-year high at 7.08% Vietnam macroeconomy to remain stable but less favorable in 2019 Vietnam economy forecast to grow by more than 7% in 2019 External factors should be focus of Vietnam’s economy in 2019: VinaCapital Vietnam’s GDP achieved a 10-year high growth rate of 7.08% in 2018, but more importantly, the economic growth structure has been transformed in a way that it is less dependent on credit growth while focusing more on reforming the aggregate supply, according to the Central Institute for Economic Management (CIEM). Overview of the conference. Source: Ngoc Thuy. “The economy witnessed a high growth rate, although total oustanding credit in Vietnam’s banking system grew 14% year-on-year, the lowest since 2014,” said Nguyen Dinh Cung, CIEM’s director, at a conference discussing … [Read more...] about Vietnam growth structure transformed in 2018: Experts
Global uncertainties continue to pose threats to Vietnam economy: CIEM
The Hanoitimes - Uncertainties surrounding global trade activities, especially the escalating trade tensions between the US and China and the FED`s decision of hiking interest rates are putting pressure on Vietnam`s macro-economic management. Vietnam still maintains high economic growth rate of 6.88% in the third quarter and 6.98% in the first nine months of 2018, however, global uncertainties continue to pose threats to the country's economic prospects, according to Nguyen Dinh Cung, director of the Central Institute for Economic Management (CIEM). Overview of the conference. Source: Ngoc Mai. Uncertainties surrounding global trade activities, especially the escalating trade tensions between the US and China and the FED's decision of hiking interest rates, are putting pressure on Vietnam's macro-economic management, Cung said in a conference on October 17. "It is vital that the government solidify the macro-economic foundation, in turn ensuring economic … [Read more...] about Global uncertainties continue to pose threats to Vietnam economy: CIEM
Low productivity poses risks to Vietnam economy
The Hanoitimes - Spillover effects from the FDI sector to domestic enterprises are considered a long-term solution for sustainable productivity development. Vietnam's low productivity growth remains one of the main challenges for Vietnam to achieve sustainable development, putting the country's economy at risk of being left behind by regional competitors, said Nguyen Duc Thanh, director of the Vietnam Institute for Economic and Policy Research (VEPR). Overview of the conference. Source: Ngoc Lam. Productivity as central issue "Productivity should be the central issue of reform," Thanh said at a conference on September 26, adding that a high productivity growth rate would result in Vietnam becoming a middle-income country and moving up the global value chain. This is also the objective of the economic restructuring process and institutional reform that Vietnam has been undertaking for many years, Thanh added. Thanh referred to a statement made by economist … [Read more...] about Low productivity poses risks to Vietnam economy