The report provides a detailed look at the policy toolbox that could help Vietnam stabilize the economy, reduce investment needs in the coming austerity period, and achieve climate targets in both the short and longer terms. Vietnam, China co-chair 18th East Asia Forum Vietnam Plus 22:02 10-Dec-20. ... German newspaper praises Vietnam’s efforts in coping with economic crisis. The mouthpiece of the Ministry of Industry and Trade. Perspectives. After three decades of growth that lifted millions out of poverty, Vietnam's economy is undergoing another transformation -- thanks to technology. Well that’s a much more urgent, emotionally catalysing problem,” he added. "This creates additional demand, compensating for Covid and … The economy of Vietnam is mainly reliant on foreign direct investments in order to promote growth. Vietnam economy continues to strengthen, reports VDSC. All section. Still, Vietnam's economy is less exposed than other tourism-dependent countries in the region such as Thailand, where the IMF predicts the economy to slump by 7.1 per cent this year. VIETNAM BUSINESS NEWS OCTOBER 14; VIETNAM BUSINESS NEWS HEADLINES OCTOBER 13; Vietnam to post economic growth of 6.6 pct in 2019: WB; Vietnam’s economy maintains positive outlook have 234 words, post on ven.vn at August 30, 2020. Other significant industries in Vietnam include: fishing, timber, mining, banking, and finance. HANOI (Vietnam News/ANN): Vietnam jumped five spots to reach 49th position in the world for sustainable development in 2020 on the UN Sustainable … Video. EU nationals and those transporting goods internationally can return - if they have a recent negative test. Vietnam has minimised the economic damage from Covid-19 and is the only country in South East Asia on track for growth this year. Vietnam… Vietnam: Industrial output records quickest growth since February in November. DataSpeaks . According to the ADB’s Asian Development Outlook 2020 report published on April 3, 2020, Vietnam’s economic growth will decline sharply to 4.8 percent in 2020 but bounce back up to 6.8 percent in 2021, provided the pandemic is contained. icon 1 minutes ago 0. icon. The country has seen slower growth this year and its once-thriving tourism sector has taken a particularly bad hit, but it has avoided the worst economic effects of the pandemic. After completing the course, Vietnamese consultants were selected by the ministry to support quality improvements in production for Vietnamese enterprises in the fields of manufacturing, processing and … A strong response to the coronavirus pandemic, surging exports and healthy public spending have helped Vietnam buck a … For the past three decades, Vietnam has known only good -- or great -- economic news. New Delhi: Describing Vietnam as an important partner in India's Indo-Pacific vision, Prime Minister Narendra Modi on Monday said cooperation between the two countries can contribute to maintaining peace and stability in the region. Still, Vietnam's economy is less exposed than other tourism-dependent countries in the region such as Thailand, where the IMF predicts the economy to slump by 7.1 per cent this year. November 29, 2020. Vietnam is a member of Asia-Pacific Economic Cooperation, Association of Southeast Asian Nations and the World Trade Organization. Regardless of the impact of the COVID-19 pandemic, Vietnam is forecast to be one of the fastest-growing economies in Southeast Asia. Vietnam has ‘plenty of activity’ in its foreign direct investment pipeline: UBS Vietnam is among the “brightest” spots in Asia despite the challenge … Việt Nam national team manager Park Hang-seo was adamant that his star defender Đoàn Văn Hậu's brief loan spell at SC Heerenveen in the Netherlands was positive for both player and country, calling it a "meaningful experience". HANOI, Nov 20 ― Vietnam is shaping up as Southeast Asia's single economic success story in the coronavirus era, maintaining steady positive growth as other economies struggle to recover, reported Vietnam News Agency (VNA) citing Nikkei Asia report yesterday. Vietnam has had only 1,288 Covid-19 cases and 35 deaths. Publication Permit: 456/GP-BTTTT dated November 18, 2013. Life Trend Culture Style. Business Vietnamese economy bucks global trend. .css-14iz86j-BoldText{font-weight:bold;}Vietnam has minimised the economic damage from Covid-19 and is the only country in South East Asia on track for growth this year. 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Video. Following is an overview Vietnam’s economy in the first 9 months of 2020 compiled by VietnamCredit. About half of all businesses in Vietnam have downsized because of COVID-19, according to a survey by the Private Economic Development Research Board, as cited by domestic news … News. VideoHow a girl's fairy house sparked a magical friendship, 'People have Zoom fatigue but it's not our fault', Tech trends in 2021: Fast planes and homeworking. All rights reserved. © Copyright 1997 - 2020 NewsNow Publishing Limited. The IMF is predicting a strong economic recovery in 2021, with growth projected to strengthen to 6.5% “as normalisation of domestic and foreign economic activity continues.”. The Vietnamese Embassy in Egypt, in collaboration with the Alexandria Chamber of Commerce, held a workshop on economic and trade potential between the … Rice exporters have … The National English language daily, Outlook magazine. Realty sector suffers losses in nine months. 13 October; 1 min read; Vietnam Economy News Charity programme mobilised from 12,000 sponsors. A rebounding economy and a new trade deal are reasons why the outlook for Vietnam is positive despite the coronavirus pandemic, said Edward Teather of UBS Research. News. “When Covid comes, you thought you had a global supply chain, and you find out that you only have a China supply chain and you can’t produce. The report says that Vietnam’s economy will grow 3% this year while the global economy is expected to contract at least … The pandemic has also prompted more companies to consider manufacturing there, because of the need to diversify their supply chains, said Mr Kokalari. A rebounding economy and a new trade deal are reasons why the outlook for Vietnam is positive despite the coronavirus pandemic, said Edward Teather of UBS Research. Vietnam’s manufacturing sector has grown enormously over the past decade because businesses have started to look elsewhere as labour costs in China increased. HCMC - Vietnam achieved a record high trade surplus of US$20.1 billion in the January-November period although the Covid-19 pandemic continues to show complicated developments, challenging the global economy, according to the General Statistics Office. Many multinationals have started operating in Vietnam, including global technology leaders like Apple and Samsung. The economic impact of Covid-19”, although the Vietnamese economy suffered from Covid-19 in the first half of 2020, prospects remain positive in the short and medium term. Vietnam Economy. HANOI (Vietnam News/ANN): Vietnam jumped five spots to reach 49th position in the world for sustainable development in 2020 on the UN Sustainable Development Solutions Network, partly … Top Export Goods And Partners. The industry is set to record double-digit growth in the 2020-2025 period and is set to reach a value of $7.7 billion next year, according to a report by brokerage Yuanta Vietnam. The nation’s consistent growth as an exporter, propelled by Communist leaders who … Current News and the latest top stories in world news. In Vietnam, the old age dependency ratio, which compares the number of people 60 and older to 15–59 year-olds, is expected to double in the next 25 years, and replacement rates are around 70 percent, significantly above the 54 percent average for counties in the Organization for Economic Cooperation and Development (OECD). The second conducive factor is the state of Vietnam’s consumer market. According to a recent study by Standard Chartered, the Vietnamese economy will most likely be one of the few to grow this year in Southeast Asia, if not the only one. The government has also helped cushion the economic blow by pouring money into infrastructure projects such as roads and bridges, said Thanh. What happens to your body in extreme heat? (VOVWORLD) - Vietnam's GDP is forecast to grow 6.8% next year and stabilize at around 6.5% thereafter, according to a report released by the World Bank (WB) on Monday. Vietnam… However, the tourism sector remained downtrodden due to the border closure. Apec Diem Thuy - Thai Nguyen Industrial Park - an ideal destination for foreign enterprises to do business in Vietnam AsiaOne 00:14 11-Dec-20. Still, Vietnam's economy is less exposed than other tourism-dependent countries in the region, such as Thailand, where the IMF predicts the economy to slump by 7.1 per cent this year. Please try different keywords. Vietnam's economy to expand 6.8% in 2021: WB. Night-time economy waits for its bright days Sunday, Nov 29, 2020,18:32 (GMT+7) The IMF credited “decisive steps to contain the health and economic fallout from COVID-19” for the country’s success. Still, Vietnam's economy is less exposed than other tourism-dependent countries in the region such as Thailand, where the IMF predicts the economy to slump by 7.1 percent this year. Vietnam has been a bright spot in Asia from an economic growth perspective for a number of years now. .css-orcmk8-HeadlineContainer{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:justify;-webkit-justify-content:space-between;-ms-flex-pack:justify;justify-content:space-between;}Covid-19: French agree to ease virus travel ban.css-1dedj2h-Rank{-webkit-align-self:center;-ms-flex-item-align:center;align-self:center;color:#B80000;margin-left:3.125rem;}1, Coronavirus: EU urges countries to lift UK travel bans2, Karima Baloch: Pakistani rights activist found dead in Toronto3, Alex Padilla to replace Kamala Harris in US Senate4, Coronavirus spreads to Antarctic research station5, France bans use of drones to police protests in Paris6, Nicola Sturgeon broke Covid rules at funeral7, Widowed penguins hug in award-winning photo8, Giant iceberg A68a shatters into large fragments9, Viral 'butt-less' pyjamas ad sparks confusion10. Perspectives . Home / News. Click to get a sign-in link sent to your email. Vietnam’s rapidly growing pharmaceutical industry has been a magnet for foreign firms. Apple now has plans to manufacture its high-end Airpods studio earphone in Vietnam. The ADB estimates Vietnam’s economy grew by 6.8 percent last year, faster than most similarly sized countries in Asia. Vietnam’s prospects appear positive as the economy is projected to grow by about 6.8 percent in 2021 and, thereafter, stabilise at around 6.5 percent, according to the latest World Bank’s economic update for Vietnam “Taking Stock”. In October, industrial production gained steam on a stronger manufacturing sector, while retail sales expanded notably and exports surged. Besides, the external sector, the … Its economy is expected to grow 2.4% this year, according to latest figures from the International Monetary Fund. 1. Vietnam economy is Asia's shining star during Covid The South East Asian nation has benefited from the working from home electronics boom … Accordingly, Vietnam’s gross domestic product (GDP) is forecast to expand 2.8 percent in 2020 and 6.8 percent in 2021 in favorable conditions, and 1.5 percent in 2020 and 4.5 percent in 2021 in less favorable … Read about our approach to external linking. Vietnamese economy to surpass Taiwan's in 2035: Think tank Taiwan News 04:28 11-Dec-20. The government has also helped cushion the economic blow by pouring money into infrastructure projects such as roads and bridges, said Thanh. Vietnam’s economy unexpectedly grew in the second quarter, though at the slowest pace in at least a decade, as exports slumped because of the … Perhaps the most unexpected windfall has come from the huge increase in the number of people working from home globally. The economy began the fourth quarter on a robust footing according to available data. The Southeast Asian country has good economic performance to the resilience of both its domestic economy and external sector, World Bank commented. Well, a lot of those products are made in Vietnam,” he told the BBC. Sports. “People have bought a new laptop computer or they’ve bought new office furniture, for both working and spending more time at home. A low base effect would contribute a further to 6.5% growth next year. The largest industries here are services which make up 49.75% of the GDP, industry which makes up 33.25%, and agriculture which makes up 17% of GDP. 13 October; 2 min read; Vietnam Economy News Hà Nội Gift Show to feature 400 pavilions. News. It depends, 1,000 lost on one boat - this woman hopes to name them, Wuhan scientist 'welcomes' visit over lab leak claim, Twitter's copyright policy 'used to silence activists', .css-q4by3k-IconContainer{display:none;height:1em;width:1em;vertical-align:-0.125em;margin-right:0.25em;}playHow a girl's fairy house sparked a magical friendship. Still, Vietnam's economy is less exposed than other tourism-dependent countries in the region such as Thailand, where the IMF predicts the economy to slump by 7.1 percent this year. Vietnamese economy to surpass Taiwan's in 2035: Think tank Taiwan News 04:28 11-Dec-20 Apec Diem Thuy - Thai Nguyen Industrial Park - an ideal destination for foreign enterprises to do business in Vietnam AsiaOne 00:14 11-Dec-20 Vietnamese experts' estimates are below those of several international organizations. Video, How a girl's fairy house sparked a magical friendship, Covid-19: French agree to ease virus travel ban, Coronavirus: EU urges countries to lift UK travel bans, Karima Baloch: Pakistani rights activist found dead in Toronto, Alex Padilla to replace Kamala Harris in US Senate, Coronavirus spreads to Antarctic research station, France bans use of drones to police protests in Paris, Nicola Sturgeon broke Covid rules at funeral, Widowed penguins hug in award-winning photo, Giant iceberg A68a shatters into large fragments, Viral 'butt-less' pyjamas ad sparks confusion, Fifteen countries sign world's biggest trade deal, Vietnam police seize 320,000 used condoms, Explaining the world's biggest trade deal. According to the ADB’s Asian Development Outlook 2020 report published on April 3, 2020, Vietnam’s economic growth will decline sharply to 4.8 percent in 2020 but bounce back up to 6.8 percent in 2021, provided the pandemic is contained. By Dat Nguyen October 9, 2020 | 03:24 pm GMT+7 Workers make garment products at a factory in the southern province of Long … The United States Treasury on Wednesday labelled Switzerland and Vietnam as currency manipulators and placed 10 other countries including China … EU urges its members to lift UK travel bans, France bans use of drones to police Paris protests, Can pregnant women receive the vaccine? The report attributes Vietnam's economic performance to the resilience of both its domestic economy and the external sector. Travel Places Food. 13 October; 1 min read; 1; view. The new target comes as gross domestic product for the export-led Vietnamese economy grew just 0.36% in the second quarter, down sharply from 3.8% in the January to March period. Vietnam recorded decade-low GDP growth of 1.8% in the first half of this year, and expansion is forecast at … Vietnam economy to expand 7.1 pct in 2021: UOB. - VnExpress International .css-1hlxxic-PromoLink:link{color:inherit;}.css-1hlxxic-PromoLink:visited{color:#696969;}.css-1hlxxic-PromoLink:link,.css-1hlxxic-PromoLink:visited{-webkit-text-decoration:none;text-decoration:none;}.css-1hlxxic-PromoLink:link:hover,.css-1hlxxic-PromoLink:visited:hover,.css-1hlxxic-PromoLink:link:focus,.css-1hlxxic-PromoLink:visited:focus{color:#B80000;-webkit-text-decoration:underline;text-decoration:underline;}.css-1hlxxic-PromoLink:link::after,.css-1hlxxic-PromoLink:visited::after{content:'';position:absolute;top:0;right:0;bottom:0;left:0;z-index:2;}French agree to ease virus travel ban. The ADB estimates Vietnam’s economy grew by 6.8 percent last year, faster than most similarly sized countries in Asia. 0.01 % in November over the previous month, contrasting October 's 0.09 % rise costs in increased! 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