VOV.VN - Vietnam's economy is facing the shortage of capital and capital accumulation would therefore act as a significant growth driver for the country in the next phase of development, a World Bank economist said at a workshop held in Hanoi on June 7.
With certain advantages, Vietnam has been the destination for many multinational businesses to seek processors, and processing in turn have become a major growth engine of the economy.
VOV.VN - Economic growth in Vietnam has proven resilient despite weakening external conditions, driven mainly by strong domestic demand and a dynamic export-oriented manufacturing sector.
The US dollar has appreciated significantly against the Vietnamese dong in the past few days in the wake of the US Federal Reserves (Fed)’s interest rate hike last week, but local officials and experts are not too worried, believing these hikes won’t affect Vietnam’s economy in any major way.
Vietnam’s economy enjoyed a more sustainable growth in the first quarter of the year with a strong economic expansion of 7.38%, the best first-quarter performance in the last decade.
Vietnam’s economy witnessed positive changes in the first nine months of 2017 with growth increasing from quarter to quarter, according to Director General of the General Statistics Office (GSO) Nguyen Bich Lam.
The economy expanded 7.46 percent in third quarter of 2017 from the same period last year, the strongest third quarter growth since 2010.
Problems with healthcare, culture, and finances make Vietnam a less favorable second home for foreigners, according to HSBC’s latest Expat Explorer survey.
VOV.VN - Chinese investors and markets are becoming increasingly important to the Vietnam economy, most especially to the slowing manufacturing and declining crop production industries, say experts.
Vietnam’s gross domestic product (GDP) grew by an estimated 5.73% in the first half of this year, Director of the General Statistics Office (GSO) told a press conference in Hanoi on June 29.
VOV.VN - Close to one fifth of the total exports of Vietnam consists of mobile phones manufactured by Samsung, the Republic of Korea electronics giant, from its factories located in the northern part of the country.
VOV.VN - At a recent forum in Ho Chi Minh City, Peter Semone, chair of the Pacific Asia Travel Association, declared that tourism has the potential to become a pillar of the Vietnam economy.
A report by the prestigious global accounting firm of PricewaterhouseCooper (PWC) predicts continued economic growth for Vietnam until 2050 period, with annual GDP increase of 5.1%, on average.
The year of 2016 was considered as a year full of challenges for Vietnam's economy as internal problems remained cumbersome while the international situation witnessed unpredictable developments.
Vietnam has just entered 2017, but already market analysts are trying to predict the trends of the next 12 months. Senior economist Le Xuan Nghia, director of the Business Development Institute, provides an insight about monetary and financial market movements in the new-year.
More challenges and difficulties will face the local economy in 2017, said Nguyen Duc Thanh, head of the Vietnam Institute for Economics and Policy Research.
Vietnam Pulp and Paper Association (VPPA) general secretary Vu Ngoc Bao said more stringent criteria for environmental protection would be the biggest challenge for small paper companies, which do not usually treat their wastewater properly.
Economists say that 2017 is expected to be an auspicious year for Vietnam’s economy, with few signs of uncertainties.
There is no need for fintech companies and banks to be in competition in Vietnam, a recent forum heard, as working together would expand the market to the benefit of both.
The sharp appreciation of the US dollar after the news about the US election and the fall of the Chinese yuan to a 6-year low could create risks for Vietnam’s economy.