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 has minimised the economic damage from Covid-19 and is the only country in South East Asia on track for growth this year. Vietnamese experts' estimates are below those of several international organizations. The United States Treasury on Wednesday labelled Switzerland and Vietnam as currency manipulators and placed 10 other countries including China … 13 October; 2 min read; Vietnam Economy News Hà Nội Gift Show to feature 400 pavilions. Sports. Travel Places Food. Life Trend Culture Style. This is cached page on VietNam Breaking News. By Dat Nguyen October 9, 2020 | 03:24 pm GMT+7 Workers make garment products at a factory in the southern province of Long … Regardless of the impact of the COVID-19 pandemic, Vietnam is forecast to be one of the fastest-growing economies in Southeast Asia. Besides, the external sector, the … 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. 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. .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. The National English language daily, Outlook magazine. Deputy Editor-in-Chief: Dang Thai Anh. News. Vietnam economy is Asia's shining star during Covid The South East Asian nation has benefited from the working from home electronics boom … Its economy is expected to … Many multinationals have started operating in Vietnam, including global technology leaders like Apple and Samsung. Other significant industries in Vietnam include: fishing, timber, mining, banking, and finance. Well, a lot of those products are made in Vietnam,” he told the BBC. The government has also helped cushion the economic blow by pouring money into infrastructure projects such as roads and bridges, said Thanh. EU urges its members to lift UK travel bans, France bans use of drones to police Paris protests, Can pregnant women receive the vaccine? A strong response to the coronavirus pandemic, surging exports and healthy public spending have helped Vietnam buck a … 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. Apec Diem Thuy - Thai Nguyen Industrial Park - an ideal destination for foreign enterprises to do business in Vietnam AsiaOne 00:14 11-Dec-20. 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 … Vietnam… At a virtual summit with Vietnamese Prime Minister Nguyen Xuan Phuc, Modi said India looks at its ties with Vietnam with a long-term and strategic perspective. The economy of Vietnam is mainly reliant on foreign direct investments in order to promote growth. © 2020 BBC. 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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. 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. 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.”. CNN speaks to Vietnam… DataSpeaks . “People have bought a new laptop computer or they’ve bought new office furniture, for both working and spending more time at home. The ADB estimates Vietnam’s economy grew by 6.8 percent last year, faster than most similarly sized countries in Asia. Vietnam has minimised the economic damage from Covid-19 and is the only country in South East Asia on track for growth this year. However, the tourism sector remained downtrodden due to the border closure. Vietnamese economy to surpass Taiwan's in 2035: Think tank Taiwan News 09:28 11-Dec-20 Apec Diem Thuy - Thai Nguyen Industrial Park - an ideal destination for foreign enterprises to do business in Vietnam AsiaOne 05:14 11-Dec-20 © Copyright 1997 - 2020 NewsNow Publishing Limited. 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”. Apple now has plans to manufacture its high-end Airpods studio earphone in Vietnam. The report attributes Vietnam's economic performance to the resilience of both its domestic economy and the external sector. Well that’s a much more urgent, emotionally catalysing problem,” he added. Home / News. All the latest news in Vietnam - Breaking news and video. 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Perhaps the most unexpected windfall has come from the huge increase in the number of people working from home globally. Vietnam Economic News. 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 The government has also helped cushion the economic blow by pouring money into infrastructure projects such as roads and bridges, said Thanh. Administration of Radio, Television and E-information under the Ministry of Industry and Trade Read about our approach to external linking. For the past three decades, Vietnam has known only good -- or great -- economic news. Vietnam economy continues to strengthen, reports VDSC. How a girl's fairy house sparked a magical friendship. How Much Should We Worry About Laos’ Debt? The Vietnamese Embassy in Egypt, in collaboration with the Alexandria Chamber of Commerce, held a workshop on economic and trade potential between the … 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 Economy News Military-run telecom giant Viettel to sell 6 per cent stake in Viettel Post. - VnExpress International EU nationals and those transporting goods internationally can return - if they have a recent negative test. 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). 13 October; 1 min read; 1; view. Rice exporters have … The British bank estimated a three percent increase in GDP in 2020 and 7.8 percent in 2021. The IMF credited “decisive steps to contain the health and economic fallout from COVID-19” for the country’s success. "This creates additional demand, compensating for Covid and … After three decades of growth that lifted millions out of poverty, Vietnam's economy is undergoing another transformation -- thanks to technology. 13 October; 1 min read; Vietnam Economy News Charity programme mobilised from 12,000 sponsors. 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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. .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. Woman in Da Nang runs shelter for homeless dogs and cats. The second conducive factor is the state of Vietnam’s consumer market. icon 20/12/2020 0. Its economy is expected to grow 2.4% this year, according to latest figures from the International Monetary Fund. 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 … 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. Following is an overview Vietnam’s economy in the first 9 months of 2020 compiled by VietnamCredit. 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 … By Alice Philipson and Tran Thi Minh Ha. 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. 13 October; 1 min read; 6; view. News. November 17, 2020. A number of factors have cushioned the blow, according to Michael Kokalari, chief economist for Vinacapital, a Vietnam-focused investment company. 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. icon 1 minutes ago 0. icon. 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. Besides the containment of the pandemic by bold, early and innovative measures, the Vietnamese government has also used its fiscal and monetary policies to provide breathing space for the private sector and jump-start the recovery. Current News and the latest top stories in world news. The Southeast Asian country has good economic performance to the resilience of both its domestic economy and external sector, World Bank commented. Realty sector suffers losses in nine months. It climbed nine places from last year to 33rd in the list of the world’s 100 most valuable brands compiled by Brand Finance, a U.K. consultancy. 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. Gross domestic product (GDP) in the third quarter of 2020 is estimated to increase by 2.62% over the same period last year, which is the lowest increase between 2011 and 2020. Vietnam, China co-chair 18th East Asia Forum Vietnam Plus 22:02 10-Dec-20. Perspectives. 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. The report says that Vietnam’s economy will grow 3% this year while the global economy is expected to contract at least … ADB revises up Vietnam’s 2020 GDP growth forecast to 2.3% : Thursday, Dec 10, 2020,17:52 (GMT+7) HCMC - The Asian Development Bank (ADB) has revised up Vietnam’s gross domestic product (GDP) growth forecast in 2020 to 2.3% from the previous estimate of 1.8% in September, attributing the upgrade to the strength of accelerated public investment, revived domestic … Perspectives . Vietnam… The ongoing US-China trade war has also made China a less attractive place to manufacture, with a number of tariffs in place on exports. What happens to your body in extreme heat? 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