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Update news GDP
While growth in most regions has slowed down, Vietnam’s economy is recovering strongly with GDP expanding by an average 6.84% during the 2016-2020 period.
After revision, Vietnam’s GDP grew an average of 25.4% annually in the 2010 – 2017 period, in which 2011 recorded the highest growth rate of 27.3%.
The public capital must be allocated based on market principles, said an expert.
Many economic targets set for 2020 are lower in comparison with real implemented levels.
Experts are concerned about the quality of foreign investment and the capability of Vietnam to use the capital.
Vietnam is among the countries with the highest GDP growth rates in the region.
A large market with 100 million consumers is not the only reason which attracts foreign investors. They come to Vietnam because they can work and "play" with other investors from the world, according to Vo Tri Thanh, a respected economist.
Vietnam should act fast to switch to the circular economy, heard a workshop on promoting the no-carbon circular economy held in Hanoi on November 12.
Speaking at the opening of the Vietnam Communist Party Central Committee’s conference on May 16, Party General Secretary and President Nguyen Phu Trong raised the question "What will our country be in 2045?"
A slowdown in export growth of the foreign-invested sector could have a negative impact on Vietnam’s economy in 2020, according to SSI Securities Corporation, Vietnam’s largest brokerage house.
The government’s report to the National Assembly on the 2019 public debt and 2020 budget shows that it plans to mobilize VND460 trillion worth of capital, mostly to offset the deficit and repay principal.
The investment capital keeps flowing to Vietnam, bringing concerns about the country's capability to absorb such a high level of capital resources.
Foreign investors have made a net purchase of VND15.2 trillion worth of government bonds so far this year, according to SSI Retail Research.
South Korean invested securities companies are putting pressure on Vietnamese companies, competing in terms of service quality, number of branches and the possibility of providing loans for margin trading.
Vietnam is predicted to obtain the highest GDP growth rate in the region, but it is exposed to risks from the effects of global economic tensions.
Vietnam posted an economic growth of 6.98% in the first nine months of this year. Experts said the result gives momentum for the economy to achieve its yearly target of 6.8 percent.
E-commerce firms not only are spending big money to run marketing campaigns to lure more customers, but are also expanding their warehouse networks and logistics services.
From growing e-commerce, online gaming, travel booking, and offline-to-online platforms such as ride-hailing and food delivery, Vietnam’s digital economy continues to thrive.
Vietnam is considered an attractive destination for investors thanks to the cheap labor force. In 2019, the minimum zonal wages of Vietnamese workers ranged between VND2.92 million and 4.18 million.
Building a reasonable growth scenario and finding out ways to achieve the goal is how that Vietnam can escape the middle-income trap.