Vietnam poised for highest GDP growth in Southeast Asia

By Dang Khoa   June 19, 2020 | 06:30 pm GMT+7 VNExpress

Vietnam poised for highest GDP growth in Southeast Asia

Farmers harvest rice in a paddy field in the southern province of Soc Trang, March 10, 2020. Photo by VnExpress/Nguyet Nhi.

The Asian Development Bank (ADB) has forecast the highest 2020 GDP growth rate in Southeast Asia for Vietnam at 4.1 percent.

The regional bank has placed Myanmar in second place with an estimated growth rate of 1.8 percent while Brunei in third place with 1.4 percent. Thailand is at the bottom of the list at -6.5 percent, behind Singapore (-6 percent) and Cambodia (-5.5 percent).

Southeast Asia’s average GDP growth is estimated to contract by -2.7 percent this year and expected to rebound to 5.2 percent next year.

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Vietnam poised for quick recovery once the global economy reopens

 14 July 2020

Although Covid-19 threw a spanner in the works for Vietnam’s thriving economic growth story, McKinsey & Company suggests that the country could resume pre-crisis growth levels by next year.

Two factors have combined to cushion the blow of Covid-19 on Vietnam’s economy, at least in comparison to other economies across Asia and the world. For one, the country was successful in containing the virus. In fact, reports highlight that the last report of community transmission of Covid-19 in Vietnam was two months ago. Tiếp tục đọc “Vietnam poised for quick recovery once the global economy reopens”

MoIT aims for production growth in second half of year

Update: July, 11/2020 – 09:33 VNS

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In June, the IIP rose by 13 per cent in the processing and manufacturing sector. — Photo

HÀ NỘI — The Ministry of Industry and Trade (MoIT) will focus on removing difficulties in industrial sectors in the second half of this year, especially the processing and manufacturing industry, to expand production and business. Tiếp tục đọc “MoIT aims for production growth in second half of year”

H1 GDP growth hits 10-year low

By Anh Tu   June 29, 2020 | 04:41 pm GMT+7 VNExpress

H1 GDP growth hits 10-year low

Workers manufacture antibacterial masks at a firm in HCMC’s Tan Binh District, April 2020. Photo by VnExpress/Nguyet Nhi.

Vietnam’s GDP growth was roughly 1.81 percent in the first half, the lowest since 2011, due to the Covid-19 pandemic, General Statistics Office reported Monday.

The country’s second quarter GDP grew by 0.36 percent, compared with an expansion of 6.73 percent in the same period last year, said the GSO.

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

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.
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Vietnam targets 7% annual GDP growth over next five years

HANOI, April 14 (Reuters) – Vietnam’s government said it will target annual gross domestic product growth of 7% during the 2021-2025 period, even as the COVID-19 pandemic threatens to derail global trade and production.

The Southeast Asian country’s economy grew at its slowest pace in the first quarter of this year, at 3.8%, as the new coronavirus outbreak hit economic output.

The government said in a statement posted on its website late Monday that it will continue to improve its business environment and infrastructure, expand its export markets, apply advanced technologies and promote the development of the private sector over the next five years.

Vietnam, which has one of the fastest growing economies in Asia backed by robust exports and foreign investment, has this year struggled to maintain growth momentum due to the virus, which has halted business operations.

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