VietNamNet Bridge - Vietnam is economically lagging behind other countries in the region and in the world. There is a big gap in GDP per capita between Vietnam and other countries, which makes it difficult for Vietnam to catch up with them. The core of the doi moi (renovation) in Vietnam is the shift from single-ownership into a multi-ownership economy, where the central planned regime no longer exists. The 1987 Law on Foreign Investment, the 1990 Corporate Law & the Law on Private Enterprises, and the 1999 Enterprise Law have encouraged the development of Vietnam’s private economic sector. One of the revolutionary viewpoints of the 1999 Enterprise Law was that ‘people can do anything that are not prohibited by the laws’, rather than ‘people can only do the things allowed by the laws’, which was one of the major reasons hindering economic development in many decades before. Soon after the Enterprise Law took effect, the then PM Phan Van Khai set … [Read more...] about Why does Vietnam lag behind?
Why is vietnam economy growing
Nguyen Tri Hieu, economist and senior financial expert What is Vietnam’s current standing with regards to Industry 4.0 and how deep has technology penetrated into the country’s economy? The Fourth Industrial Revolution is currently the buzzword across Vietnam, even though we have yet to finalise the 3.0 growth path. We still lag behind many countries in terms of economic development. However, we should not miss out on the global megatrend and position ourselves at the forefront of industrial development. This is a new era of irreversible development across the world, as well as for Vietnam. In fact, the country has been on the 4.0 path for a few years now, particularly in the field of high-technology. However, in low-tech fields such as agriculture, textile clothing or real estate, we are behind many other countries. We must achieve the dual and parallel tasks of carrying out reforms aligning with the 3.0 growth path and initiating 4.0. The implications of … [Read more...] about Industry 4.0 tech essential to build cashless economy
The Hanoitimes - Vietnam`s real estate sector remains a promising land for investors as Hanoi and Ho Chi Minh City are undergoing rapid transformations, continuing to catch regional peers. Why is Vietnam's real estate a magnet for international investors? (P.2) Why is Vietnam's real estate a magnet for international investors? (P.1) There are a number of reasons indicating how fast Vietnamese economy has grown in the recent years and how dynamic the real estate market has been over the past years. Illustrative photo Since the market recovery in the past few years after a slow period between 2010 and 2014, investors have been pouring money into different segments, mostly prime homes thanks to strongly-supported fundamentals. Accordingly, strong price increases in the real estate market have turned Vietnam into a promising land and an investment hub for those who want to diversify their investment portfolios. Encouraging macroeconomic indicators With … [Read more...] about Is it time to invest in Vietnam’s prime homes?
Through the ratification of the CPTPP, Vietnam will be able to attract even more foreign investment to key technology sectors, Photo: Le Toan Tran Hoang Ngan has spent days studying the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). He is not a negotiator of the deal, but a National Assembly (NA) member from Ho Chi Minh City recently provided with documents related to the agreement, before it was officially discussed at the NA last week. Initially, the deal was formed in 2005 as the Trans-Pacific Partnership (TPP) by Brunei, Chile, New Zealand and Singapore. The US joined the TPP in 2008, and Vietnam quickly followed suit. In January 2017 the US withdrew from the deal, which was then inked in March 2018 under the new name of the CPTPP. “Why was Vietnam invited to join the TPP, though its per capita income is only $2,380, while the average of other member states is $30,000?” asked Ngan, who is also a senior economist. “I think member … [Read more...] about Vietnam gets to grips with CPTPP
Arun Kelshiker, head of Portfolio Strategy at Standard Chartered Private Bank In our childhood, we learn some life-skills which we never really forget—skills such as riding a bicycle or swimming. But how often do we learn at a young age how to save and invest and plan our finances for ourselves and our loved ones? Yet, certain financial skills, such as making investment decisions, impact our longer-term life choices. Starting to invest early is probably one of the most basic financial knowledge one needs to imbibe at an early age. This is because the longer one lets one’s money grow, the bigger it grows. As Albert Einstein famously said: “Compound interest is the eighth wonder of the world and the most powerful force in the universe.” Once we start early, the next crucial investment idea is the knowledge that capital preservation is key to generating sustainable long-term returns. Yet, knowingly or unknowingly, many of us still find ourselves trying to … [Read more...] about Long term investment is the key to sustainable returns