Vietnam’s debt-to-GDP ratio seen below 57% by 2021: HSBC

thesaigontimes.vn

Tuesday,  Jan 14, 2020,12:11 (GMT+7)
Vehicles travel on Vo Van Kiet Avenue in HCMC. This road was funded by official development assistance loans – PHOTO: VNA

HCMC – If the Vietnamese Government continues its fiscal consolidation, the public debt-to-gross domestic product (GDP) ratio could be further reduced, possibly reaching below 57% by 2021, said an HSBC report.

“Elevated public debt has fallen consistently over the years,” said the “Vietnam at a glance: The Good, the Bad and the Needed” report which the Hongkong and Shanghai Bank Corporation (HSBC) released last week.
Tiếp tục đọc “Vietnam’s debt-to-GDP ratio seen below 57% by 2021: HSBC”

Vietnam needs to choose the path less traveled

vnexpress.net

By Nguyen Dang Anh Thi   January 26, 2020 | 07:27 am GMT+7

In copying other countries’ development mistakes, Vietnam has paid a heavy price for not deploying due foresight. Now, we cannot ignore hindsight wisdom.

Nguyen Dang Anh Thi

Nguyen Dang Anh Thi

When he was 18, my eldest brother faced a tough decision – should he go to university or take up vocational training?

Although he wanted to persist with his academic pursuit, he deferred to the family’s economic needs and decided to join the workforce to support the family.

So, instead of going to university, he decided to go to Tay Loc District in my home province, Thua Thien Hue, and learn tailoring.

One year, with a sudden surge in the need for making windcheaters in HCMC, my brother left home and headed for the southern metropolis in search of better work opportunities. He boarded the crammed bus, not daring to look behind at his sobbing family.

Tiếp tục đọc “Vietnam needs to choose the path less traveled”

Vietnam posts lowest CPI growth in 3 years

Source: Xinhua| 2020-01-09 14:16:02|Editor: ZX

HANOI, Jan. 9 (Xinhua) — The consumer price index (CPI) of Vietnam, which measures changes in the prices paid by consumers for a basket of goods and services, rose 2.79 percent in 2019, the lowest level over the past three years, the country’s General Statistics Office said Thursday.

In the 12-month period, items posting most significant rises included household electricity (up 8.38 percent), education service (up 6.11 percent), foodstuff (up 5.08 percent) and health service (up 4.65 percent). Tiếp tục đọc “Vietnam posts lowest CPI growth in 3 years”

Mỹ tăng thuế đối với Trung Quốc: Việt Nam có bị ảnh hưởng?

VNBIZ – By Nguyễn Quỳnh,   May 14, 2019

Việc hai nền kinh tế lớn nhất thế giới cùng tăng thuế được dự báo sẽ có ảnh hưởng lớn đến chuỗi cung ứng toàn cầu, trong đó có Việt Nam.

Mỹ đã chính thức tuyên bố nâng thuế quan từ 10% lên 25% đối với 200 tỷ USD hàng hóa Trung Quốc. (Ảnh minh họa: AFP)

Mỹ đã chính thức tuyên bố nâng thuế quan từ 10% lên 25% đối với 200 tỷ USD hàng hóa Trung Quốc sau ngày 10/5. Trong bối cảnh cuộc đàm phán thương mại giữa hai nước không có tiến triển, việc tăng thuế quan của Mỹ đối với tất cả hàng hóa nhập khẩu từ Trung Quốc được các chuyên gia, các nhà dự báo cho rằng sẽ ảnh hưởng lớn đến chuỗi cung ứng toàn cầu, trong đó có Việt Nam. Tiếp tục đọc “Mỹ tăng thuế đối với Trung Quốc: Việt Nam có bị ảnh hưởng?”

World Bank forecasts Việt Nam’s 2019 growth at 6.6 per cent

Update: April, 27/2019 – 08:29 VNA

Việt Nam’s economic growth is projected to moderate to 6.6 per cent in 2019, driven by credit tightening. — VNA/VNS Photo

HÀ NỘI — Việt Nam’s economic growth is projected to moderate to 6.6 per cent in 2019, driven by credit tightening, slower private consumption and weaker external demand, according to the World Bank (WB).

Under the Managing Headwinds report on East Asia and Pacific update released on Wednesday, WB said Việt Nam’s economy continues to show fundamental strength, supported by robust domestic demand and export-oriented manufacturing. Tiếp tục đọc “World Bank forecasts Việt Nam’s 2019 growth at 6.6 per cent”

Vietnam’s economy forecast to grow at 6.8% in 2019 amid weakening global outlook: ADB

Last update 16:22 | 03/04/2019

With growth in the global economy and world trade projected to slow, ADB forecasts that Vietnam’s economic growth will moderate but remain strong at 6.8% this year and 6.7% in 2020, according to the Asian Development Bank (ADB).

Vietnam’s economy forecast to grow at 6.8% in 2019 amid weakening global outlook: ADB, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, V

“The economic performance in Vietnam reached a sweet spot in 2018, driven by strong exports and domestic demand,” said Eric Sidwick, ADB country director for Vietnam, at the launch of the Asian Development Outlook (ADO) report on April 3. Tiếp tục đọc “Vietnam’s economy forecast to grow at 6.8% in 2019 amid weakening global outlook: ADB”

Binh Duong to host Horasis Asia Meeting 2018

VNA PRINT

Binh Duong Convention Centre (Photo: horasis.org)

Binh Duong (VNA) – The Horasis Asia Meeting 2018 will take place in the southern province of Binh Duong on November 25 – 27, said Tran Thanh Liem, Chairman of the provincial People’s Committee.

The event will bring together about 400 guests from 60 countries and international organisations, along with 500 domestic guests, including leaders of the Government, ministries, agencies and representatives of cities, provinces and enterprises. Tiếp tục đọc “Binh Duong to host Horasis Asia Meeting 2018”

Giá trị tài sản tăng nhanh hơn thu nhập, tiền đâu nộp thuế?

Nguyễn Vạn PhúThứ Tư,  25/4/2018, 07:54 

Đất đai ở Việt Nam tăng nhanh và có thời điểm, có khu vực bắt kịp với giá địa ốc ở những nơi được xem là đắt đỏ trên thế giới. Ảnh: HẢI NAM

(TBKTSG) – Dư luận phản ánh trên báo chí về dự án Luật Thuế tài sản những ngày sau khi được Bộ Tài chính giới thiệu nhìn chung là phản đối – với rất nhiều lý lẽ rất xác đáng. Một trong những lập luận khó lòng phản bác là hiện nay theo Hiến pháp, đất đai thuộc sở hữu toàn dân, người dân chỉ có quyền sử dụng đất nên đất không phải là tài sản của họ đúng nghĩa. Một khi đất không thuộc sở hữu thì làm sao bắt người dân đóng thuế dưới tên gọi Luật Thuế tài sản cho được.

Tiếp tục đọc “Giá trị tài sản tăng nhanh hơn thu nhập, tiền đâu nộp thuế?”

Good Morning Vietnam, Energy-wise

energyathass

Vietnam, a leading indicator for the rest of the developing world, has seen tremendous growth in per capita energy consumption.

During a recent family vacation in Vietnam, I learned that the country is a microcosm for several major trends in energy consumption in the developing world: (1) there’s a thriving middle class, (2) hot and humid weather is driving air conditioning demand and (3) rural electrification rates are very high. (We also loved the food, culture and beaches, and we were gripped by the poignant remnants of the American War, as it’s known locally. I highly recommend it as a vacation destination if that’s your thing.)

Let’s start with some basic facts: Vietnam has seen extraordinary growth in per capita energy consumption over the past several decades. Since 1990, the earliest year for which data are available for most countries, total per capita energy consumption in Vietnam has more than doubled. (All the country-level data in this post come from the World Bank Development Indicators.) This puts Vietnam in the top 3% of countries in the world in terms of growth in per capita energy consumption. Of the countries with more than 5 million people, only China and Thailand have had more rapid growth. Tiếp tục đọc “Good Morning Vietnam, Energy-wise”

How big is Vietnam’s informal economic sector?

Last update 12:00 | 06/02/2018
VietNamNet Bridge – Fulbright University estimates that Vietnam’s informal economic sector makes up 25-30 percent of total GDP and has 57 percent of total number of workers, but the General Statistics Office (GSO) believes that the informal sector is not that large.

vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news, GDP, informal economic sector, GSO

How big is Vietnam’s informal economic sector?

Nguyen Bich Lam, Director General GSO at a conference to review the activities of the Ministry of Planning and Investment (MPI) on January 15 said MPI will submit a scheme on informal economic statistics to the Prime Minister for approval this year. The operation of the informal business sector contributed to the economy, but it was not yet accounted for in calculating GDP. Tiếp tục đọc “How big is Vietnam’s informal economic sector?”

Historic soccer run brings unequal Vietnam together

Asia.nikkei.com

Under-23 team’s trip to Asian finals fosters sense of national camaraderie

ATSUSHI TOMIYAMA, Nikkei staff writer

Fans in Hanoi react after Vietnam’s loss in the AFC U23 Championship final against Uzbekistan on Jan. 27. © Reuters

HANOI — The Vietnam national team’s first-ever appearance in the finals of the Asian Football Confederation U23 championship, triggered mass celebrations across the country, despite a close defeat in the final game on Saturday. Tiếp tục đọc “Historic soccer run brings unequal Vietnam together”

GDP growth benefits for the poor lessening: economist

VietNamNet Bridge – The gap between the top 20 percent of the richest people and the lowest 20 per cent of the poor in Vietnam was 4.4 times in 1993, but the figure was 10 times in 2016. 

vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news, GDP growth rate, Oxfam, CPI

The real figure could be even higher as it is now difficult to measure the wealth of the rich, according to the Mekong Development Institute.

Dr Phung Duc Tung, head of the Mekong Development Institute, said that the high GDP growth rate that Vietnam has always been striving for will not solve all the problems in the country.

Tung said the GDP growth rate is an important index that measures the development of the economy, but it is also necessary to think about who will benefit from growth. Tiếp tục đọc “GDP growth benefits for the poor lessening: economist”

Productivity key to escaping mid-income trap

vietnamnews Update: December, 14/2017 – 08:00

Workers produce mechanical accessories and parts at the Hirota Precision Viet Nam Co.,Ltd in Đồng Nai Province. — VNA/VNS Photo Danh Lam
Viet Nam News HÀ NỘI — Việt Nam has to focus on increasing labour productivity and overall productivity growth to avoid the risk of being stuck in the middle income trap, experts said at the Vietnam Development Forum (VDF) 2017 yesterday.

Prime Minister Nguyễn Xuân Phúc said that there were signs of slowdown in productivity growth, a key driver of sustainable development, and this has to be reversed with innovation, creativity and technological applications. Tiếp tục đọc “Productivity key to escaping mid-income trap”

ADB lifts growth prospect of VN to 6.7%

vietnamnews Update: December, 13/2017 – 18:00

Việt Nam’s growth prospect is predicted to be 6.7 per cent in both 2017 and 2018. — Photo bantuyengiao.vn
Viet Nam News  HÀ NỘI — The Asian Development Bank (ADB) revised Việt Nam’s growth prospect upward to 6.7 per cent in both 2017 and 2018 compared with earlier forecasts of 6.3 and 6.5 per cent, respectively.

This is part of ADB’s forecast on economic expansion of developing Asia, which showed the GDP of the first three quarters of 2017 in Việt Nam grew by 6.4 per cent, up from 5.9 per cent in the same period of 2016. Tiếp tục đọc “ADB lifts growth prospect of VN to 6.7%”

Renewable Energy Benefits: Measuring The Economics – Lợi ích kinh tế của năng lượng tái tạo

IRENA report

The need for scaling up renewables is now undisputed, and the full range of benefits they can bring has come to the fore in global discussions. As countries consider options at their disposal, understanding the socio-economic benefits of the transition to a renewable energy future is of vital importance. Renewable Energy Benefits: Measuring the Economics provides the first global quantification of the macroeconomic impacts of renewable energy deployment. It finds that doubling the share of renewables by 2030 would bring a range of positive impacts including an increase in global gross domestic product (GDP) up to 1.1 percent, improvement of global welfare by 3.7 percent and over 24 million people working in the renewable energy sector. This report provides the latest evidence that mitigating climate change through the deployment of renewable energy and achieving other socio-economic objectives are mutually beneficial. Thanks to the growing business case for renewable energy, an investment in one is an investment in both. A full understanding of these benefits can tip the balance towards low-carbon investments and future-proof our energy system.

Download full report http://www.irena.org/DocumentDownloads/Publications/IRENA_Measuring-the-Economics_2016.pdf