Tags: gdp

ASEAN market expansion represents a positive step

ASEAN market expansion represents a positive step

VOV.VN - With Vietnam seeing total import-export turnover with ASEAN in 2019 reach US$57.3 billion, representing a year- on- year rise of 1.1%, the group has developed into the country’s fourth largest export region, only behind the United States, the EU, and China.

Oxford Economics forecast Vietnam’s GDP to grow 2.3% in 2020

Oxford Economics forecast Vietnam’s GDP to grow 2.3% in 2020

Vietnam’s effective containment of COVID-19 should allow it to make a quicker rebound than most other economies in the region and its GDP growth can be around 2.3% this year, Sian Fenner, an economist from Oxford Economics wrote in a July 14 report.

Retail sales enjoy six-month increase despite epidemic impact

Retail sales enjoy six-month increase despite epidemic impact

VOV.VN - The opening six months of the year saw retail sales reach a figure of VND1,895,600 billion, accounting for 79.6% of total turnover and representing an annual boost of 3.4%, according to figures released by the General Statistics Office.

EC officially reveals date of EVFTA entering into force

EC officially reveals date of EVFTA entering into force

VOV.VN - A statement made by the European Commission (EC) on June 30 officially announced the European Union-Vietnam Free Trade Agreement (EVFTA), signed on June 30, 2019, will officially come into effective as of August 1.

Agro-forestry-fishery exports poised to hit over US$41 billion this year

Agro-forestry-fishery exports poised to hit over US$41 billion this year

VOV.VN - Despite suffering the negative impacts caused by the epidemic and natural disasters, the national agriculture sector still managed to experience positive growth during the first six months of the year, with GDP for the sector in the first quarter enjoying a 0.08% rise from last year with the aim to beat the export target of US$41 billion.

Banks expect credit growth extension

Banks expect credit growth extension

Many commercial banks are proposing the central bank to extend credit growth limits as they have nearly reached the allowed threshold.

More monetary easing measures forecast in 2020

More monetary easing measures forecast in 2020

The State Bank of Vietnam (SBV) is expected to further take monetary easing measures to support the country’s GDP growth target of above 5% this year in light of a weak economic outlook, experts forecast.

Southern key economic zone told to make development headway

Southern key economic zone told to make development headway

VOV.VN - The southern economic zone must introduce solutions to fully exploit its potential and promote fresh growth in order to offset the negative effects of the novel coronavirus (COVID-19) pandemic and achieve sustainable development, said Prime Minister Nguyen Xuan Phuc.

WB: EVFTA could lift Vietnam’s exports by 12% by 2030

WB: EVFTA could lift Vietnam’s exports by 12% by 2030

The World Bank (WB) has predicted that the EU-Vietnam Free Trade Agreement (EVFTA) could help Vietnam’s GDP and exports grow 2.4% and 12%, respectively, by 2030, the Ministry of Industry and Trade (MoIT) has reported.

Four-month State budget revenue drops as Gov’t offers tax relief

Four-month State budget revenue drops as Gov’t offers tax relief

The State budget revenue in January – April was estimated to total VND491.38 trillion (US$21.05 billion), representing a drop of 5.9% against the same period last year, as the Government offered tax relief to support those affected by the COVID-19 pandemic, according to the Ministry of Finance.

HCM City urged to intensify economic recovery steps

HCM City urged to intensify economic recovery steps

VOV.VN - The year’s first quarter saw Ho Chi Minh City enjoy growth of 1.03%, according to a new report to be released by the General Statistics Office, while Prime Minister Nguyen Xuan Phuc has suggested that the southern metropolis should strive to devise solutions in order to facilitate the local economy recovering in an effective manner.

Building material sector eyes boon

Building material sector eyes boon

The building material sector would be among the first to benefit from the Government’s efforts to speed up disbursement of public investment, which was identified as a growth driver as the COVID-19 pandemic cast a shadow on the economy.

Budget overspending looks likely

Budget overspending looks likely

The Ministry of Finance forecast a budget overspending at 5-5.1% of gross domestic product (GDP) this year, about 1.5-1.6 percentage points higher than the Government’s plan due to the impacts of the COVID-19 pandemic.

Vietnam ninth highest remittance recipient

Vietnam ninth highest remittance recipient

Vietnamese workers living abroad sent home US$17 billion last year, making Vietnam the world's ninth biggest remittance beneficiary, a World Bank report says.